Abadi: Part of the revenues of crude gas will go to Kuwait


Prime Minister Haidar al-Abadi said that the crude gas associated with the production of oil to be exported through Kuwait will go to Kuwait part of it as financial compensation.
“The cabinet authorized the oil minister to negotiate with the Kuwaiti side to sell the accompanying gas,” Abbadi told a news conference. “Part of the gas will be given as part of the financial compensation owed to Kuwait instead of paying money from the country’s treasury.”
The Iraqi oil minister said in a press statement last week that the joint committee between the two countries completed all procedures related to the export of raw gas to Kuwait and is now finalizing the implementation of the Convention in the near future.
He added that the agreement provides for the export of 50 million standard cubic feet per day of raw gas from Rumaila field in the province of Basra within the first phase, up to 200 million standard cubic feet per day within the second phase of the Convention.

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