Kuwait expects to soon sign deals on the development of the oil fields that it shares with its neighbors Saudi Arabia and Iraq, official Kuwait News Agency (KUNA) quoted Oil and Electricity Minister Bakheet Al-Rashidi as saying on Wednesday. Kuwait expects to sign an agreement with Iraq on the two countries’ joint oil fields by the end of this year, and to return to producing oil in the region that it shares with Saudi Arabia soon, the minister said. When former Iraqi President Saddam Hussein invaded Kuwait in 1990, the oil fields along the Kuwaiti-Iraqi border were the bone of contention , with Hussein accusing Kuwait of pumping oil that belonged to Iraq. After years of squabbles over how to divide and operate the fields, it looks like Kuwait and Iraq may have finally had breakthrough in talks. “We are in the process of selecting a global consultant to […]