On Thursday, the Iraqi oil minister Jabbar Ali Al-Allaibi has announced the possible export of Iraqi crude gas to Kuwait, additional from Iraqi need. He added that almost all documentation and procedures have been completed regarding the subject. Al-Allaibi said in a statement that the Joint Committee has finalized entire procedures regarding the export of raw gas to Kuwait and now it is at the final stage of implementation the agreement in the near future. He further indicated that the agreement will allow the export for the amount of 50 million cubic feet per day of raw gas in the first phase from Rumaila field in the province of Basra, Iraq. He added that up to 200 million cubic feet per day will be exported in the 2nd phase according to the agreement. He also explained that Iraq has brotherly relations with Kuwait and both sides have approved the MOU (memorandum of understanding) and signed between the oil of Kuwait and Iraqi oil ministry.
Al-Allaibi added that the issuance of an Amiri direction approved the listing that match the memorandum regarding the exploitation and development of the common border fields, and it will serve in the best interests of both friendly countries. He said that this great accomplishment achieved after a long decades, which adds things in perspective and contribution in the settlement of entire pending issues between both countries. We are working hard to empower bilateral relations between the two countries in order to enhance investment opportunities and prospects with joint coordination & cooperation. Al-Allaibi admired the position of Kuwait and their honest desire in serious cooperation and to tie together with all available resources to support Iraq and its people. Basra has been considered the largest oil field in Iraq and a gateway to the Iraqi economy. This oil field is providing the largest amount of oil and its related items to the country.