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An oil field in Iraq. Reuters
Economy News - Baghdad
The Parliamentary Energy Committee announced the Ministry of Oil's intention to conduct a licensing round to invest joint fields with each of Kuwait and Iran during the coming period.
A member of the Parliamentary Oil, Energy and Natural Resources Committee, Sadiq Al-Sulaiti, said, "The committee urged the ministry to proceed with a tour of licenses to invest in joint fields with the two neighboring countries," according to the official Al-Sabah newspaper.
He added, "The delay in investing the fields may waste a lot of storage for the benefit of neighboring countries," stressing that "the two countries had invested in these fields at an earlier time through companies that used the latest technological methods."
And that "the licensing round should have gone through the past years, and the importance of speeding up its launch in meetings with officials in the ministry was emphasized, and for there to be a serious, technical and sovereign dialogue between Iraq, Kuwait and Iran to preserve the rights of all countries."
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