By Hashem Kalantari and Ramin Mostafavi
Iran proposes the two OPEC states can tie up to develop disputed Arash natural gas field.
Iran has proposed to Kuwait that the two OPEC countries together develop the disputed Arash natural gas field in the Gulf, a senior official was quoted as saying on Saturday.
"Iran has proposed that development, investment, production and management ... be done on a joint basis by the parties involved," said Mahmoud Zirakchianzadeh, head of the state Offshore Oil Company.
Kuwait was expected to "accept Iran's idea of joint development of the field," he said, according to the Oil Ministry website SHANA.
Zirakchianzadeh added: "The Iran Offshore Oil Company has raised the proposal of 'partnership instead of competition' for the development of this (Arash) as well as other joint hydrocarbon fields."
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."
Kuwait, a Sunni-led U.S. ally, and predominantly Shi'ite Iran, a long-time foe of Washington, are both members of the Organization of the Petroleum Exporting Countries (OPEC). (Reuters)