“Iraqi agreement – ending the dispute over the Kuwaiti oil fields shared”

“Iraqi agreement – ending the dispute over the Kuwaiti oil fields shared”

10:47:31 / 07/2012

Khandan – The Iraqi Oil Ministry to settle the dispute with Kuwait’s oil fields in common.

The agreement on the «standardization of production and the organization of investment producing fields to ensure the rights of the two countries».

The Director of the Legal Department at the Ministry of Oil Leith Shahir said in a statement that «the Joint Committee between Iraq and Kuwait was able to resolve a large part of the problems between the two sides through the agreement on the unification of production and organization of work common fields»

Shahir did not reveal the nature of these solutions, except to point out that «the Commission has been able to achieve significant results for the resolution of this file and start a new phase of economic relations, particularly with regard to oil field».

It is noteworthy that Iraq has more than 25 oil fields in common with both Kuwait and Iran and Syria, including 15 field producer. Fields and the joint border between Iraq and Kuwait Safwan, Zubair, Burgan and Ibogrb, and Rumaila.

A source at the Oil Ministry, told the “life” that «the agreement reached by the committee was an update of the agreement first concluded by the Ministry of Oil with Kuwait, the adoption of a third party is mandated to develop an economic plan to invest in stocks that the common fields and the division of production or revenues between the two countries in proportion to the extensions of the fields inside the territory of each of the two countries ».

He added that «the Joint Commission amended certain paragraphs of the agreement the adoption of the recommendations of international experts to determine the share of each country of production or reserves of those fields». The source, who emphasized the lack of reference to his name that «such a mechanism will be adopted in resolving the dispute over the common fields with Iran and Syria».

And view the details of the agreement with Kuwait’s parliament said that «the Iraqi negotiator raise a detailed report to the prime minister to see and comment».
Source: xendan