Iran will not give up stake in disputed offshore gas field: Oil Minister

Tehran (IANS). Iranian Oil Minister Javad Ovji said Iran would not give up its stake in the Arash gas field, which is located in the neutral maritime zone between Iran, Kuwait and Saudi Arabia.

According to the Iranian Student News Agency, Ovji said on Sunday that Iran hoped that all issues related to the joint zone would be resolved through negotiations with Kuwait.

The offshore gas field known as Durra in Kuwait and Saudi Arabia was discovered in 1967, Xinhua news agency reported. Its development has been delayed due to a dispute over ownership between the three countries.

In March 2022, Saudi Arabia and Kuwait signed an agreement to jointly develop the field, but Iran has called the agreement illegal and said it violated previous negotiations.

In July, Kuwait said it would begin drilling and gas production in the gas field without waiting for it to be officially demarcated with Iran.