Iran to begin development of joint gas field in Persian Gulf soon

Iran will launch a plan to develop the Arash natural gas field shared with Kuwait and Saudi Arabia in the near future, after the two countries agreed to begin development activities in the offshore field without Tehran.

Mohsen Khojasteh-Mehr, the CEO of the National Iranian Oil Company (NIOC), said that preliminary and seismological studies have already been conducted at the field, according to ifpnews.com.

“The development plan has been approved at the NIOC and will soon be launched,” he added.

“Developing joint oil and gas fields are among the NIOC’s priorities.”

Recently, Kuwait announced a plan to extract one billion cubic feet per day of gas and 84,000 barrels per day of condensate from Arash field under an agreement signed with Saudi Arabia.

Iran dismissed the agreement as “illegal,” saying it breached their discussions to build the field together.