Mubasher: Kuwait and Iraq on Friday signed a contract for conducting a technical study for joint frontier oilfields in Jordan’s capital, Amman, according to the Kuwait News Agency (KUNA).
Both countries hired British energy advisory firm ERC Equipoise (ERCE) to “determine the optimal way to invest and tap their shared oilfields”, KUNA reported.
The deal with ERCE is aimed at conducting the necessary technical study for capitalisation on jointed oilfields, which will be completed in two and a half years, acting Kuwaiti oil undersecretary, Sheikh Talal Nasser Al-Sabah, said.
Nasser described the deal as the "fruit of six years of efforts exerted by both countries' working teams."
