NIOC’s Indecision Helping Arabs Drain Joint Hydrocarbon Fields

The National Iranian Oil Company’s procrastination in developing joint hydrocarbon fields in the Persian Gulf has helped Arab neighbors to extract as much as they can from the shared reserves, the head of the Board of Directors at the Iranian Oil and Gas Drilling Companies Association said.
"The state-run firm’s inaction and deferment of development projects in the fields is so obvious that it seems they have abandoned them to be used by other countries," Hedayatollah Khademi was also quoted as saying by ILNA.
If Iran does not start extracting oil and gas soon from joint fields like Arash and Farzad A, investing in them will no longer make economic sense as the neighbors, including Saudi Arabia and Kuwait, are emptying the reserves, he added.