Saudi Arabia, Kuwait Sign Deal to Resume Joint Oil Output

  • 12/24/2019
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Saudi Arabia and Kuwait signed an agreement Tuesday to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement, officials said. Kuwaits oil minister Khaled al-Fadhel said on Twitter that the memorandum of understanding signed with Saudi Arabia included "the resumption of production in the divided zone." The state-run KUNA news agency reported that the two countries also signed an agreement on the demarcation of land and maritime borders in the neutral zone. KUNA did not give details on the contents of the deal which likely revolves around amending previous border agreements between the two Arab nations. The oil produced in the neutral zone in the border area is shared equally between the two nations. Khafji, an offshore field, was jointly operated by Kuwait Gulf Oil Co. and Saudi Aramco Gulf Operations, while the onshore Wafra field was operated by KGOC and Saudi Arabian Chevron.

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