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Saudi minister invites Iran to talks over joint Arash gas field

EconomySaudi minister invites Iran to talks over joint Arash gas field

Ryadh (The Times Groupe)- Saudi Arabia’s energy minister announced Monday that Riyadh has invited Iran to a meeting on the joint Arash gas field.

Al-Arabiya news channel quoted Saudi Arabian foreign minister Abdul Aziz bin Salman as saying that have common interests in the resources existing in the gas fields there.

Iran, Kuwait, and Saudi Arabia all share the Arash gas field. Saudi Arabia’s cabinet in late April emphasized Riyadh’s and Kuwait’s right to exploit underground natural resources in the Persian Gulf and to develop and exploit the field as agreed between them.

A gas field development agreement was signed earlier between Kuwait and Saudi Arabia. Under the agreement, Kuwait Oil Company and Saudi Arabia’s Aramco will take the necessary steps to develop and extract oil from the field.

In the neutral zone between Kuwait and Saudi Arabia, Arash is one of Iran’s underdeveloped strategic oil and gas fields.

Located in Iranian waters and in a neutral zone between Kuwait and Saudi Arabia, the Arash field is connected to the al-Dora field in Kuwait, which was launched in 1975. Approximately 220 billion cubic meters of gas are estimated to be present in the Arash field, discovered in the late 1960s.

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