Iran objects to Saudi-Kuwait agreement regarding the oil fields in the Persian Gulf

Tehran: – The fuel prices have flared up in the international markets given the Russia-Ukraine war and the western countries are appealing to augment fuel production. In this scenario, Iran objected to the agreement signed between Saudi and Kuwait to develop the fuel gas fields in the Persian Gulf. Iran termed the deal as illegal, saying that the rights for developing the Arash natural gas fields are with Iran. Iran warned that this agreement could not be executed without Iranian participation.

Moreover, Arash or Durra’s oil field in the Persian Gulf is divided among Saudi, Kuwait, and Iran. Both countries claim equal rights over the oil field without clearly defined marine limits between Iran and Kuwait. It is claimed that there are 20 trillion cubic feet of natural gas in this oil field discovered in 1967. The development of the Arash oil field had taken a backseat given the tensions prevailing in the region.

But last week, Saudi and Kuwait signed an agreement for joint development of this oil field. As per the agreement, 1 billion cubic feet of natural gas will be produced from this gas field every day. This agreement between Saudi and Kuwait becomes significant against the background of the shortage and sky-rocketing natural gas prices on the international level. But Iran is extremely agitated with this agreement.

Saeed Khatibzadeh, the spokesman of the Iranian foreign ministry, claimed ‘Iran also has the right on the Arash oil field along with Saudi and Kuwait. Therefore, Iran has an equal right in developing the oil field. Therefore, this agreement signed by Saudi and Kuwait leaving Iran out becomes illegal. The concerned agreement does not fall within any international framework. This oil field cannot be developed without Iranian participation.’

Iran has indicated independent development and extraction at the Arash oil fields to protest against the Saudi-Kuwait agreement. Iran clarified that the Iranian fuel ministry would be carrying on all the necessary activities and soon, Iranian ships will start excavation work in the region. This Iranian stand has added further to the tensions prevailing in the Persian Gulf sector.

Meanwhile, a major fuel crisis is looming over the European countries, given the Russia-Ukraine war. The European Union is demanding that a country like Nigeria supply fuel gas to Europe, reducing the intensity of the crisis. In this scenario, the Iranian opposition to the agreement signed between Saudi and Kuwait regarding the development of the Arash oil field becomes significant.