New oil field discovery boosts Saudi and Kuwait's energy clout
Saudi Arabia and Kuwait have discovered a new oil field in the Divided Zone, a neutral area jointly managed by the two countries. This marks the first significant breakthrough since 2020 and is considered crucial for both nations' standings in the global energy market, according to The Arab Weekly.
Saudi Arabia and Kuwait announced the discovery of a new oil field at the North Wafra Wara-Burgan site, situated in the Divided Zone between the two countries.
The field is the result of a joint venture by Wafra Joint Operations, which includes American Chevron Corporation among others. It can produce over 500 barrels per day, and the oil is rated high quality, with an API gravity of 26-27.
This is the first major discovery since production resumed in the zone in 2020, emphasized Cairo Scene.
The neutral zone, established in 1922, has been subject to disputes and interruptions in production, particularly in 2014-2015 when production was completely suspended. This discovery is crucial for maintaining Saudi Arabia and Kuwait's reputation as stable and reliable oil suppliers on the global market.
Other large fields, such as Khafji, are also exploited in the Divided Zone, allowing for production of up to 300,000 barrels per day. The total output from this zone represents about 0.5% of the world's oil production.
