Iran Ready to Develop Arash Gas Field Without Kuwait

Iran will likely begin full-scale development of the offshore Arash gas field in the Persian Gulf if Kuwait does not respond to its offer of joint development, Fars News Agency reported.

"Our emphasis presently is on joint partnership strategy rather than competition, and we are hopeful to reach a conclusion with Kuwait over the development of the shared Arash field," head of the Iranian Offshore Oil Company Mahmoud Zirakchianzadeh said.

Zirakchianzadeh said Iran has already launched its operational activities on the development and production at Arash and was not dragging its feet in anticipation of Kuwait's response.

Arash gas field is located on Iran-Kuwait's water border and it is called Dorra in the Kuwait part of the field.

The field's gas reserve is estimated at one trillion cubic feet along with some 310 million barrels of oil.