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

Gulf Business - - NEWS AND VIEWS -

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.

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