Iran proposes Kuwait Arash development JV

Mahmoud Zirakchianzadeh, head of Iran's state Offshore Oil Co, has said that the country has proposed to Kuwait that the two jointly develop the disputed Arash natural gas field in the Gulf, Shana has reported. Kuwait and Iran dispute the ownership of Arash, but Iranian state media last November said the two countries called for "cooperation in connection to the resolution of the continental shelf issue." Iran has previously held talks with Oman and UAE respectively for joint development of Hengam and Salman oil fields.