Oil
Oil

Oil production at the Khafji and Wafra oil fields in the Neutral Zone between Kuwait and Saudi Arabia will be restored to 550,000 barrels per day (bpd) by the end of this year, a Kuwaiti official said Sunday.

Kuwaiti Minister of Oil, Electricity and Water Khaled Al-Fadhel made the remarks on the sidelines of the inauguration of an electronic services program.

The Khafji and Wafra fields will resume experimental crude oil production on Sunday, the minister said, adding the volume of the pumped crude would be gradually increased to the normal level.

By the end of 2020, for Kuwait’s share, oil production at Wafra will reach 140,000 bpd, while the output at Khafji will increase to 250,000 bpd.

Kuwait aspires to produce 4 million bpd of oil in 2040 according to the oil strategy approved by the Supreme Petroleum Council of Kuwait, Al-Fadhel said.

On Dec. 24, 2019, Kuwait and Saudi Arabia signed a memorandum of understanding to resume joint oil production of the two fields.

The Neutral Zone is an area of 5,770 square km along the Saudi-Kuwaiti border. The two countries suspended production of the shared Khafji and Wafra fields in the zone more than four years ago. Enditem

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