Saudi Aramco Gulf Operations Company signed a Memorandum of Understanding on Sunday with Kuwait Gulf Oil Company (KGOC) to develop the joint Al-Dorra (Arash) gas field, Reuters reported.

The development aims at producing 1 billion cubic feet of gas and 84,000 barrels of liquefied gas per day, according to the Kuwaiti state news agency.

Arash oil/gas field is among the undeveloped strategic fields in Iran that is shared over a median line between Kuwait and Saudi Arabia. Arash reservoir stretches along Iranian waters and median line between Kuwait and Saudi Arabia and joins Kuwaiti’s ‘Al-Dorra’ reservoir./ Iranoilgas