Saturday, 25 January , 2020     |     980      |      +      |     

Kuwait plans to restart Wafra field oil production

Kuwait plans to restart Wafra field oil production : Google
  • Business

Wafra has been shut since May 2015, due to a dispute over Saudi Arabia’s renewal of Chevron’s concession there, reports ArabianBusiness.com.


Kuwait plans to restart oil production by March at the Wafra field that it shares with Saudi Arabia, more than four years after the neighbours halted output.

Wafra has been shut since May 2015, due to a dispute over Saudi Arabia’s renewal of Chevron’s concession there.

The field will resume pumping by March, Kuwaiti Oil Minister Khaled Al-Fadhel said Wednesday by phone.

Kuwait’s Parliament voted earlier in the day to ratify the agreement the country reached with Saudi Arabia in December to resume production at their shared oil deposits.

Fields in the so-called neutral zone can produce as much as 500,000 barrels a day – more than each of OPEC’s three smallest members pumped last month.

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Category: #Business | 2020/01/25 latest update at 12:42 AM
Source : Arab Times | Photocredit : Google
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