Iraq Reaches Final Agreement With Kuwait To Supply Gas

BAGHDAD, IRAQ (NINA) - The Iraqi Oil Ministry announced on Saturday details of the agreement to supply Kuwait with Iraqi gas from Rumaila fields in Basra province, and that the agreement will be part of Iraq's compensation to Kuwait. "The ministry has an agreement with the Kuwaiti side to provide Kuwait with crude gas from Rumaila fields in Basra province," ministry spokesman Assem Jihad said in a statement. "The agreement has reached its final stages. Kuwait will be supplied with 50 million standard cubic feet per day in the first stage, later to reach 200 million standard cubic feet per day. " He pointed out that "the crude gas will be exported to Kuwait instead of burning in the fields," noting that "the agreement strengthens economic cooperation between the two countries." Jihad said that "supplying Kuwait with gas will contribute to pay part of the debts owed by Iraq as compensation for Kuwait because of the invasion of Iraq in 1990, confirming that the ministry has reached the final stages of implementation of the agreement with Kuwait, where there is only to agree on global price. The President of the Republic Fuad Masum, during his recent visit to Kuwait, stressed the importance of activating and developing economic relations between the two countries, especially in the oil field, to contributing pay the debt owed by Iraq to the Kuwait./ End