Iran has proposed to develop the Arash natural gas field together with Kuwait, a senior official has been quoted as saying.
“Iran has proposed that development, investment, production and management…be done on a joint basis by the parties involved,” said Mahmoud Zirakchianzadeh, head of the state owned Offshore Oil Company.
Kuwait was expected to “accept Iran’s idea of joint development of the field,” he said, according to the Oil Ministry website SHANA.
“The Iran Offshore Oil Company has raised the proposal of ‘partnership instead of competition’ for the development of this [Arash] as well as other joint hydrocarbon fields,” Zirakchianzadeh added.
The two OPEC countries had previously disputed the ownership of Arash, but recent developments suggest they are now willing to share the field.
