Iran has given proposal to Kuwait for developing together the disputed Arash natural gas field in the Gulf as revealed by a senior official on March 6th.
Mahmoud Zirakchianzadeh, head of the state Offshore Oil Company said that Iran has proposed that development, investment, production and management to be done on a joint basis by the parties involved. Kuwait was expected to "accept Iran's idea of joint development of the field," he said.
Zirakchianzadeh added that the Iran Offshore Oil Company has raised the proposal of 'partnership instead of competition' for the development of this (Arash) as well as other joint hydrocarbon fields.
Kuwait, a Sunni-led U.S. ally, and predominantly Shi'ite Iran, a long-time foe of Washington, are both members of the Organization of the Petroleum Exporting Countries (OPEC).
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