Saudi Arabia and Kuwait have announced a “highly significant” oil discovery in the neutral zone, marking a major breakthrough in energy exploration.
The discovery, located in the North Wafra Wara-Burgan field, boasts an output of more than 500 barrels per day. This marks the first major find since both nations resumed production in the region in 2020.
The discovery is seen as a positive development for both countries, reinforcing their status as key global energy suppliers.
The North Wafra field is located just five kilometers north of the existing Wafra field, and it represents an important step forward in oil exploration in the partitioned zone, which had been dormant for several years.
“This discovery is regarded as highly significant,” said the Saudi Press Agency, citing its potential to enhance the two countries’ standing in the global energy market.
The announcement follows a series of agreements between the two nations, with a 2019 agreement dividing up oil production in the neutral zone, which could eventually bring an additional 500,000 barrels per day into global supply.
The Wafra and Khafji oilfields in the neutral zone had halted production in 2014 and 2015, respectively, but resumed in mid-2020.
This new discovery demonstrates the continuing importance of the neutral zone to both nations’ oil production capabilities.
