New oil field discovery strengthens Saudi-Kuwait energy ties
Saudi Arabia and Kuwait have discovered a new oil field in the Divided Zone, a neutral area jointly managed by the two countries. This is the first significant discovery since 2020 and is considered crucial for both nations' standings in the global energy market, reports The Arab Weekly.
Saudi Arabia and Kuwait announced the discovery of the new oil field at the North Wafra Wara-Burgan site, located in the Divided Zone between the two countries.
The field is a result of a joint venture by Wafra Joint Operations, which includes the American Chevron Corporation, among others. It can produce over 500 barrels per day, and the oil's quality is rated high, with an API gravity of 26-27.
This marks the first significant discovery since production resumed in this zone in 2020, emphasizes Cairo Scene.
The neutral zone, established in 1922, has experienced disputes and interruptions, especially during 2014-2015, when production was completely halted. This discovery is crucial for maintaining Saudi Arabia's and Kuwait's positions as stable and reliable oil suppliers in the global market.
Other large fields, such as Khafji, are also located in the Divided Zone, contributing to a production capacity of up to 300,000 barrels per day. The total production in this zone accounts for about 0.5% of the world's oil output.
