Kuwait Gulf Oil ready to resume operations at neutral zone, says CEO

The joint operations team at Al-Wafra area is ready to resume production in the Saudi-Kuwaiti neutral zone, Kuwaiti state news agency (KUNA) said on Wednesday, citing CEO of Kuwait Gulf Oil Company (KGOC) Abdulla Al-Sumaiti.

Al-Sumaiti said the team is awaiting the orders to resume operations. He further noted that the team has shown high efficiency in preserving and maintaining the safety of operations, KUNA reported.

Meanwhile, CEO of Saudi Arabia’s Chevron Company Mohammed Al-Marri said that during the suspension period, operation plans were reviewed to ensure the readiness of resuming production.

He added that Chevron and KOGC kept maintaining safety and environment protection works.

Yesterday, Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output.

The agreement allows for “the resumption of oil production from the joint fields,” the Saudi energy ministry said on Twitter. The oil fields in the so-called neutral zone can produce as much as 500,000 barrels a day.