Saudi Arabia, Kuwait to resume production in Wafra oilfield
Monday, February 24, 2020
The inactivity in the Wafra oilfield may be coming to an end as Saudi Arabia and Kuwait have authorized the resumption of oil production after nearly five years, according to OilPrice.com.
Since May 2015, the Wafra oilfield has been inactive due to a dispute between Saudi Arabia and Kuwait. However, at the end of 2019, the two countries reached an agreement to resume oil production from the two oilfields they share in the Partitioned Neutral Zone (PNZ), established between Saudi Arabia and Kuwait in 1922.
As of 2015, the oil production capacity in the neutral zone stood at a total of 600,000 bpd, equally divided between Kuwait and Saudi Arabia, according to the Energy Information Administration (EIA), while daily production averaged 500,000 bpd.
Learn more: OilPrice.com > Saudi Arabia and Kuwait are finally ready to restart they 500,000 Bpd oilfields
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