Kuwait official details new form of Arabian Oil contract

Kuwait official details new form of Arabian Oil contract

VIENNA, Austria - Kuwaiti Oil Minister Adel al-Subaih speaks to reporters in Vienna on the sidelines of a meeting of the Organization of Petroleum Exporting Countries (OPEC). Al-Subaih said a new drilling contract for Arabian Oil Co. would give the Japanese firm operational rights, but not rights of possession in extracting oil from Kuwaiti fields.

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