Offshore staff

TEHRAN, Iran – Negotiations continue between Iran and Kuwait over joint development of the offshore Arash field.

Iranian Offshore Oil Co. Managing Director Mahmoud Zirkchiyanzadeh said: "Iran emphasizes its positive diplomacy for development of Arash field and is ready to cooperate with Kuwait.”

The two countries can reduce costs, he added, by designating a common operator for investment, development, and production of the field.

“It is a common way to maximize recovery with minimal investment and would provide benefits to both countries,” he said.

Iran stood ready to export gas to Kuwait, he said, at prices close to the regional standard.

8/17/2012