(MENAFN - Kuwait News Agency (KUNA)) Minister of Oil Ali Al-Omair said that oil and gas formed a part of bilateral talks between His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and Iran's President Hassan Rouhani on Sunday.
As the countries are two of the biggest exporters of oil they can both "exchange expertise and coordinate in the field of the extraction, marketing and refining of oil," Al-Omair, also Minister of State for National Assembly Affairs, told KUNA.
Iran also benefits from large natural gas reserves, and the minister noted to Kuwait's need for Iranian gas which will be enabled by an agrement to start importing the commodity.
Asked about a memo of understanding signed between both sides, during the visit, on the protection of the environment and sustainable development, he highlighted that this was an international obligation and that there was a need for a regional integration of efforts on the matter.
"The MoU that I signed today stems from our obligations to the marine environment and related issues like sustainable development and the atmosphere.
"We believe that this cooperation will achieve a lot for us because there is much research neither Kuwait nor Iran can conduct alone," he said.