Aug 1 2012
By Basem al-Rikabi
Azzaman, August 1, 2011
Iraq is striving to finalize agreements with neighboring states in relations to oil fields it shares with them, the Oil Ministry says.
Asem Jihad, the ministry’s official spokesperson, said Iraq was keen to get its fair share of the development of these fields, though its neighbors have been utilizing these fields for a long time.
Jihad said there were 25 oil fields which Iraq shared mainly with Iran and Kuwait and that 15 of these have producing oil for years.
He said there were also a few oil fields which the country shared with both Jordan and Syria but these remained largely undeveloped.
Negotiations with these states are going on to determine each country’s fair share of these fields and that it was important that final agreements met the demands of all the countries concerned.
“Iraq’s ultimate aim is to reach deals that will make all parties happy on condition they fall within the framework of international agreements in this regard,” Jihad said.
These fields, particularly those Iraq shares with Iran, hold billions of barrels of proven reserves.
“Iraq pays a great deal of attention to its oil wealth and is doing its best to get terms that meet its national interests,” Jihad said.
Iraq has two separate committees comprising oil and international law experts. One specifically deals with Iran and the other with Kuwait with the aim of solving outstanding issues related to joint oil fields.
Iraq has only recently started seriously considering developing its part of these fields. Previously, exploring and developing them was solely done by Iran and Kuwait.
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