Arabian Oil Co., a state-backed Japanese oil developer, and the Kuwaiti government failed to reach agreement on Arabian Oil's bid to continue operating in the Khafji oil field, the Ministry of Economy, Trade and Industry said Friday.
They did agree, however, to continue negotiating in the hope of reaching an early accord on the issue, the ministry said.
Arabian Oil President Keiichi Konaga and Hirofumi Kawano, director general of the Natural Resources and Energy Agency, both of whom are in Kuwait to try to finalize a deal with Kuwaiti Oil Minister Adel Khaled al-Subeih, failed to broker an agreement by Thursday's deadline, Kuwait time.