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FINANCIAL NEWS
Kuwait Energy won’t risk angering Baghdad with Kurdistan deals
12 Feb 2013
(MENAFN) Kuwait Energy said it was committed to oil and gas operations in southern Iraq and will not anger Baghdad by seeking deals with the northern autonomous region of Kurdistan, Reuters reported.
CEO Sara Akbar affirmed on the vital role of Kuwait Energy’s ties with Baghdad for its strategic investment in southern Iraq.
“It’s very simple. From the beginning, our ambition was to be able to develop gas in Iraq and to export some of that gas to Kuwait,” she said in an interview.
She also affirmed that Kuwait Energy, which already has an oil exploration block, plans to go after more rights to look for gas.
Iraq used to export natural gas to Kuwait from the mid-1980s until it invaded its neighbor in 1990.
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