Kuwait and Saudi Arabia have agreed to deploy new cutting-edge technologies to develop a giant oilfield they share in their border Neutral Zone.
A joint committee formed half a century ago to manage the oil-rich Neutral Zone discussed plans to expand output at Wafra oilfield during a virtual meeting last week.
The talks focused on current operations in the onshore field and future projects, the Kuwaiti oil ministry said in a statement.
“The meeting which lasted several hours covered obstacles that may hinder the implementation of the plans, in addition to the use of modern and advanced technologies in developing operations,” the statement said.
Kuwait oil ministry undersecretary Sheikh Nimr Al-Sabah said after the talks that the projects include expansion of Wafra’s operations and development of deposits.
“We reviewed the budget for fiscal year 2027 as part of efforts to enhance the efficiency of joint work and support the sustainability of petroleum operations,” he added.
Al-Sabah did not elaborate on development plans but Kuwait’s Al-Seyassah Arabic language daily quoted informed oil sources as saying the project would boost Wafra’s crude production to 300,000-350,000 barrels per day (bpd) with the next five years.
Wafra, which is believed to contain nearly 25 billion barrels in proven oil deposits, has pumped between 150,000 and 250,000 bpd since Saudi Arabia and Kuwait ended a long-standing oil rift and restarted the field’s output in 2020.
Kuwait’s share of the field’s production is estimated at 75,000 bpd at present, Al-Seyassah said.
Saudi Arabia and Kuwait, among the world’s largest oil producers, also jointly manage the offshore Durra gas field in the divided zone.
Source: Zawya Projects
