Iraq and Kuwait agree on oil-border investment

7/22/2012 BAGHDAD - A New Morning

Kuwait and Iraq signed a deal to search for oil along their common border. The company won a «Kuwait Energy» Oil and Gas Independent Kuwaiti human exploration and development in the cutter 9, located in Basra.

Officials told the newspaper «World Tribune» The consortium led by Kuwait signed a preliminary agreement to explore for energy in the border, and that the contract was signed on 16 July

Will the Iraqi Oil Ministry sending the contract to the Council of Ministers for approval.

The paper says: The two Arab countries long a conflict on the border between them, which extends a distance of 900 km, which is believed to contain large stocks of oil and natural gas.

She won the «Kuwait Energy» project to explore the border region, including Basra.

The Kuwaiti company agreed with Thabo Turkish government and the UAE company Dragon.

Under the agreement, the consortium would receive the oil of $ 6.24 for each barrel extracted.


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