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FinancialNews
03-08-19
Iraq, Kuwait secure oil field study deal with British firm
(MENAFN) Iraq and Kuwait were announced to have snatched an agreement with ERC Equipoise, a British energy advisory, with an aim to launch a study on establishing joint oil fields on Iraqi-Kuwaiti borders.
This agreement is considered as "an important step to strengthen bilateral relations," as affirmed director general of Iraqi Oil Ministry's department of contracts and petroleum licenses, Abdul Mahdi al-Amidi.
A ministry statement further assured that the deal highlights"the keenness of the (Iraqi) government and the ministry to resolve all outstanding issues between the two countries."
ERC Equipoise, Al-Ameidi added, "will provide us with all information related to oil reserves and other information, which paves the way for joint investment between Iraq and Kuwait."
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