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Friday, May 27, 2011     FOR YOUR EYES ONLY

Iran, Kuwait resolve border dispute over offshore gas field

NICOSIA — Iran intends to pump natural gas from a field owned with neighboring Kuwait.


Officials said Iran has sought to cooperate with Kuwait to operate the offshore Arash gas field in the Gulf.

They said the two countries have resolved a border dispute that could enable the development of Arash.

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"The executive operation of the Arash field will start by Iran this year and it will come on stream by the end of the year or the beginning of next year," Iranian Offshore Oil Co. managing director Mahmoud Zirakchian Zadeh said on April 26. "With the mutual cooperation of Iran and Kuwait, we can lower the costs."

Officials said Arash could contain at least five more gas and crude oil fields. They said the fields could be explored quickly.

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