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Iraqi Kuwaiti company for joint oil production see the light soon
December 28 2017 10:18 p
December 28 2017 10:18 p
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[rtl][rtl]Oil fields in Iraq[/rtl]
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Between Kuwait and Iraq, talks to reach a mechanism to exploit the oil fields in common.
According to informed Kuwaiti sources, the two sides are currently studying the establishment of a joint company to supervise the production and distribution of quotas according to ratios, which will be decided by the joint company.
The sources added: "The talks on this subject have come a long way, and are almost in the final stages, leaving only a specific roadmap to start joint production," noting that "the volume of production from those common fields falls within the strategy of Kuwait to increase production to 4 million Barrels per day by 2020 ".
"The joint fields between the two countries belong to the Rumaila field on the Iraqi side, which represents the bulk of the production, while the remaining on the Kuwaiti border field Rtqa, which represents one third of the joint production."
The two sides also seek to choose a global oil company to explore the fields common to the interest of the two countries, in addition to identifying the oil and gas fields and the share of each party.
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Baghdad Post
[rtl]Between Kuwait and Iraq, talks to reach a mechanism to exploit the oil fields in common.
According to informed Kuwaiti sources, the two sides are currently studying the establishment of a joint company to supervise the production and distribution of quotas according to ratios, which will be decided by the joint company.
The sources added: "The talks on this subject have come a long way, and are almost in the final stages, leaving only a specific roadmap to start joint production," noting that "the volume of production from those common fields falls within the strategy of Kuwait to increase production to 4 million Barrels per day by 2020 ".
"The joint fields between the two countries belong to the Rumaila field on the Iraqi side, which represents the bulk of the production, while the remaining on the Kuwaiti border field Rtqa, which represents one third of the joint production."
The two sides also seek to choose a global oil company to explore the fields common to the interest of the two countries, in addition to identifying the oil and gas fields and the share of each party.
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