Kuwaiti Oil Fields To Be Developed By Russia

Russian firms will participate in developing Kuwait's oil fields, the nation's energy minister said Monday as a bilateral commission opened discussions on expanding economic and technical cooperation.

Energy Minister Igor Yusufov, heading the Russian side in the talks, said firms including Sibneft and Lukoil were preparing to work on four oil fields in northern Kuwait, the Interfax news agency reported.

It was the first meeting of the bilateral commission, comprising various ministries and companies on both sides, since its creation in November 1994, the Energy Ministry said in a statement. In addition to the oil and gas sectors, it said, Russian firms are interested in working in the areas of construction, irrigation, agriculture and infrastructure development. They are also in a good position to increase shipments of energy equipment, rolled metal and other metal products, timber, trucks, and equipment for the oil and gas industries, it said.

The head of the Kuwaiti delegation, Sheik Ahmed Al Fahd Al Ahmed Al Sabah, said his nation sought to increase contacts with Russia through OPEC and independently of the oil cartel, Interfax said. Sheik Ahmed, who serves as information minister and acting oil minister, suggested formation of a regular working group. ©

&to=http://www.lukoil.com' target=_blank>LUKoil

&to=http://www.sibneft.ru/index.shtml' target=_blank>SIBNEFT

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Author`s name: Editorial Team