Iraq, Kuwait to appoint ERC Equipoise for joint oilfield development study

      Published on Thursday, 1 August , 2019      333 Views     
Iraq, Kuwait to appoint ERC Equipoise for joint oilfield development study

  • Business

Iraq has agreed with Kuwait to appoint British energy advisory firm ERC Equipoise to prepare a study for the development of joint border oilfields, the Iraqi oil ministry said on Wednesday.

A contract is expected to be signed with the company in coming days, a statement from the ministry said.



Under the contract, ERC Equipoise will conduct technical studies, such as examining reservoirs, for the Ratqa and Safwan fields.

There are several oilfields in the border area between Iraq and Kuwait, most prominently Ratqa, which is a southern extension of Iraq’s giant Rumaila field.

The study will set out the technical and legal mechanisms to invest in oilfields shared by the two countries.

Production from cross-border oilfields has long been a source of tension between Iraq and Kuwait, which are members of the Organization of the Petroleum Exporting Countries.

In the build-up to Iraq’s 1990 invasion of Kuwait, Baghdad accused Kuwait of drilling wells that crossed the border and pumped oil from Iraqi territory. Kuwait denied the charge.

Keywords:
Category Business | 2019/08/01 latest update at 10:59 AM
Source : Yahoo | Photocredit : Google
334 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.


Kuwaiti Emir greets Sisi on July 23rd revolution anniversary Emir

Kuwaiti Emir greets Sisi on July 23rd revolution anniversary

Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah Monday sent a cable to President Abdel Fattah El Sisi…

Amir congratulates Algeria on win Emir

Amir congratulates Algeria on win

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah congratulated Algeria’s Council of the Nation President Abdelkader Bensaleh…

Region “critical and very dangerous “ Emir

Region “critical and very dangerous “

His Highness the Amir Sheikh Sabah Al-Ahmad Al- Jaber Al-Sabah said Tuesday the foreign ministry has a further…

In Kuwait, King reiterates support for Arab Gulf in safeguarding stability Emir

In Kuwait, King reiterates support for Arab Gulf in safeguarding stability

His Majesty King Abdullah, accompanied by HRH Crown Prince Hussein, held talks with Emir of Kuwait Sheikh Sabah…

GULF TV

Popular in GULF TV

Kuwait city new bilding

2430 Views

Kuwait city new bilding

Latest videos in GULF TV

Technology

Kuwait lifestyle and lifestyle Kuwait news

Lifestyle

Kuwait lifestyle and lifestyle Kuwait news

Culture

Culture news and Kuwait culture news

Sport

Sport news from Kuwait and world sport news

Events

Kuwait Events and Events News

Government

Kuwait government News

Emir

News from the Emir of Kuwait