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Page added on November 30, 2005

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EU, GCC seek to raise oil output

The Gulf Cooperation Council and the European Union agreed to set up a joint team to help use European technology to raise energy output in the Gulf region, an official said.

The team will work to transfer technology, increase investments, boost production efficiency and eventually raise output capacity,” Issa al-Oun, undersecretary of Kuwait’s energy ministry, told reporters.

The team will comprise 12 experts from the EU and GCC, and is expected to start meetings in the first quarter of 2006, Oun said at the conclusion of the 3rd GCC-EU Oil and Gas technology conference.

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