The project to supply Kuwait with 200 million cubic feet of gas per day "will see the light very soon," announced the visiting Iraqi Oil Minister Jabar Al-Luaibi on Wednesday.
Circumstances are encouraging to accomplish the venture of supplying Kuwait with gas in shadow of the substantial harmony of views in this respect by the two sides, said Al-Luaibi in a statement to KUNA.
The project aims at supplying Kuwait with 200 million feet of gas every day, he said, adding that the "venture is not new and will see the light very soon." Al-Luaibi added that he held a meeting with his Kuwaiti counterpart, Issam Al-Marzouq, earlier today, during which an agreement was reached to form commissions to complete studies of the project, breadlines of the relevant accord and some thrash out technical matters.
The project came into the light in 2004 and 2008 and a tentative agreement had been reached to supply Kuwait with 200 million cubic feet of gas per day, starting with five million cubic feet, to be increased gradually to 100 million cf and 200 million cb, "however this project has faced some difficulties," he added. Minister Al-Lubaidi affirmed Baghdad's keenness on boosting communication, ties and cooperation with the State of Kuwait.
On volume of current Iraqi gas output, he said the daily production is at present in the range of 3,200 million cf.
Regarding the daily oil output, he said it reached some 4.5 million barrels, affirming the two countries' readiness to resolve the issue of the border oil fields, adding that he agreed with his Kuwaiti counterpart on forming a temporary commission to establish a consultancy company, urging Kuwaiti companies to invest in his country "where there are mega projects and substantial facilities" to non-Iraqi entrepreneurs.