Kuwait to sign deal with Iraq for joint oilfields before year-end

Kuwait is expected to sign an agreement with Iraq on importing gas and the operation of joint oilfields before the end of this year, Kuwait's oil minister said.

“We are in the process of selecting a global consultant to study the joint fields project,” Bakheet Al Rashidi told reporters during a visit to the Eastern Doha Power plant in August.

He also stressed that matters with Saudi Arabia are going at a “steady pace” and that production in the divided region is expected to resume “soon”, reported Kuwait News agency (KUNA).

Oil production at the neutral zone between Saudi Arabia and Kuwait was halted “due to technical reasons” Al Rashidi had said in June.

The Khafji oilfield was shut in October 2014 for environmental reasons and Wafra oilfield has been shut since May 2015 due to operating difficulties.

Kuwait said in late 2016 it was preparing to restart production at oilfields in the zone. At the time, the closure of the fields, mainly Khafji and Wafra, had become a political sticking point.

According to reports, Al-Rashidi is expected to meet his Saudi counterpart in November to discuss the zone.