Iran is planning a multi-phase project which will allow them to pump oil from a key oil-field which straddles the maritime border with Saudi Arabia. In addition, Iran plans to open an exploration well in Esfandiar and begin drilling in a disputed location involving Kuwait and Saudi Arabia. This presents a promising sign to those who believe that an open relationship can be created between Saudi Arabia and Iran as they are doing business in previously disputed areas and finding common ground. However, as they find themselves on opposing sides in the Yemen crisis, this may lead to distrust among states.
- Iran to develop oilfield shared with Saudi Arabia in 3 years