Saudi Arabia and Kuwait Discover New Oil Field
Wafra Joint Operations has discovered a new oil field in the Neutral Zone between Saudi Arabia and Kuwait, according to the Saudi Press Agency (SPA), citing the governments of both countries.
The field was discovered in the North Wafra Wara-Burgan area, located five kilometers north of the Wafra field.
“This is the first discovery since the resumption of production operations in the Neutral Zone and the adjacent offshore area in mid-2020. The discovery is considered highly significant due to its positive impact on the status of both countries as reliable global energy suppliers, and on their capabilities in the exploration and production sector,” the agency emphasized.
The Neutral Zone, covering more than 5,700 square kilometers, was established under a 1922 agreement between Kuwait and Saudi Arabia. In 1970, the two countries agreed to divide the zone, each annexing half of the territory while maintaining joint development of oil resources at the Wafra and Khafji fields.
Conflicts between Saudi Arabia and Kuwait in 2014–2015 led to a complete halt in oil production in the area, which has the potential to account for about 0.5 percent of global oil output.
In addition to the Wafra field (with a maximum production capacity of 220,000 barrels per day), the Khafji field, with a capacity of 280,000 to 300,000 barrels per day, is also operated jointly within the Neutral Zone. Oil production at the shared fields resumed in July 2020.
