GCC, EU agree to form joint team for petroleum projects
The Gulf Cooperation Council (GCC) and the European Union (EU) have agreed to form a team to study joint petroleum production projects, the Kuwait News Agency reported on Tuesday. The agreement was the outcome of intensive talks of the 3rdGulf-European Oil and Gas Technologies Conference which concluded here Tuesday, a Kuwaiti energy official was quoted as saying. The agreed-upon team consists of 12 specialists and officials representing different petroleum production phases, which will hold its first meeting by the end of the first quarter in 2006,said the official. According to the official, the two sides also agreed to modernize production technologies in different production phases, which would increase production and enhance the performances of oil fields.
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