Iraq and Kuwait have reportedly agreed to appoint ERCE to prepare a study for the development of joint border oilfields, Reuters reported, citing the Iraqi Ministry of Oil.
The Iraqi ministry expects a contract to be signed with the company in the coming days.
There are several oilfields in the border area between Iraq and Kuwait, including Al-Ratqa, which is a southern extension of Iraq’s giant Rumaila field.
The study will set out the technical and legal mechanisms to invest in oilfields shared by the two countries, including examining reservoirs for Al-Ratqa and Safwan fields.
Kuwait Oil Company (KOC) is planning to launch production from around 402 wells in Al-Ratqa, according to the local press.
ERCE is a British energy consultancy firm, formerly known as ERC Equipoise, as it was created in 2010 as a result of the merger between ERC Energy Resource Consultants and Equipoise Solutions.