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Saudi Arabia and Kuwait restart neutral oilfields
Date: Click quantity: 20

The Kuwaiti Ministry of Petroleum stated that the Wafra oil field, which is jointly owned by Kuwait and Saudi Arabia, resumed crude oil production in early July after five years of shutdown. The Wafra and Khafji fields are located in the neutral zone on the border between the two countries.

Saudi Chevron (SAC), which operates the Wafra oil field with Kuwait Gulf Oil Company (KGOC), said in a statement in June that the two companies are preparing to resume operations.

The initial oil production of the Wafra oil field was 10,000 barrels per day, and then rose to 70,000 barrels per day at the end of August, and is expected to increase to 145,000 barrels per day by the end of 2020.

The Kuwaiti Ministry of Petroleum stated that Khafji, another shared oil field, resumed production on July 1 after a month of shutdown. Al-Shammari, vice president of the Gulf Oil Company of Kuwait, said that the Khafji field, which had been shut down for one month, was expected to produce about 80,000 barrels/day on July 1, and will rise to 100,000 barrels/day in two months. He added that by the end of this year, the output of Khafji oil field is expected to reach 175,000 barrels per day. This means that by the end of 2020, Saudi Arabia and Kuwait may provide an additional 320,000 barrels per day of crude oil to the market.