BAGHDAD / NINA /- Oil Ministry spokesman Assem Jihad said on Wednesday that an agreement was reached between Iraq and Kuwait on the selection of the third party, the "global consultant", ERC Equipoise Pte.Ltd.UK "on preparing a study on the exploitation and invest the border joint fields between Iraq and Kuwait.

Jihad said in a statement that "the contract will be concluded in the coming days with the British Company "ERC", which was chosen from among the four companies were invited for this purpose," noting that "the contract provides that the company prepares technical studies for the produced joint fields (Safwan-Abdali) and the field (Rumaila South Rattka - Rtqa field), in order to organize, exploit and invest the common border fields between the two countries and guarantee the right of each party in these fields.

The ministry spokesman said "this agreement is the first in the history of the oil industry, and the first step towards the conclusion of new agreements to regulate the investment and optimal exploitation of the border fields shared with neighboring countries in accordance with formulas and mechanisms and international agreements adopted." / End



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