Kuwait, Saudi Arabia reach agreement on neutral zone

Representatives of the petroleum industry from Kuwait and Saudi Arabia have reportedly reached a settlement, on what was considered a contentious issue, regarding oil production in the neutral zone shared by both counties.

The agreement now allows both sides to resume production in the Wafra and Khafi oil fields. The works of Chevron Corporations in Mina Al Zour Area will continue under the joint efforts of both countries, while the Chevron’s assets in Al Zour will be under evaluation by trusted companies, said sources knowledgeable about the agreement.

The oil wells in Khafji and Wafra, with an estimated production capacity of 500,000 barrels per day, will be jointly developed by Kuwait and Saudi Arabia before the end of 2021.