Kuwait and Saudi Arabia will start trial oil production from the jointly-operated Wafra and Khafji oilfields on Sunday, Kuwait’s oil minister said.
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Fadhel said that he expects oil production from the Neutral Zone to reach 550,000 barrels per day before the end of the year. The production from the zone is divided between both Kuwait and Saudi Arabia.
Kuwait and Saudi Arabia, both members of the Organization of the Petroleum Exporting Countries (OPEC), agreed last year to end a five-year dispute over the border area known as the Neutral Zone, allowing production to resume at two jointly run fields that can pump up to 0.5% of the world’s oil supply.
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