Kuwaiti Oil Barrel Price76.30 Date:08-12-2022

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Saudi Energy Minister and Kuwaiti Oil Minister sign minutes to develop Al-Durra submerged gas field

21-03-2022

His Royal Highness Prince Abdul Aziz bin Salman bin Abdul Aziz Al Saud, Saudi Minister of Energy, and His Excellency Dr. Mohammed Abdul Latif Al Faris, Minister of Oil and Minister of Electricity, Water and Renewable Energy of the State of Kuwait, met in the Kuwaiti capital, Kuwait, this morning, and the meeting witnessed the signing of minutes To develop the submerged Al-Durra field, in the Arabian Gulf, to exploit it, and for the Khafji Joint Operations Company, a joint venture between Aramco Gulf Operations Company and the Kuwait Gulf Oil Company, to agree on selecting a consultant who will conduct the engineering studies necessary to develop the field in accordance with the best methods, modern technologies and safety practices Health and environmental preservation, and the development of the most efficient and effective engineering designs from the capital and operational perspectives. The signing of the minutes comes in order to support growth in the various vital sectors in the two brotherly countries, and in implementation of the terms of the memorandum of understanding signed by the Kingdom of Saudi Arabia and the State of Kuwait, in the State of Kuwait, on Rabi’ al-Thani 27, 1441 AH, corresponding to December 24, 2019, which included joint work on developing and exploiting the oil field. Durra. It is expected that the development of the Dorra field will lead to the production of one billion standard cubic feet of natural gas per day, in addition to the production of 84,000 barrels of condensate per day. At sea, and from there, Aramco’s Gulf Operations Company’s share of natural gas, gas liquids and condensates is sent to the company’s facilities in Khafji, while the Kuwait Gulf Oil Company’s share of natural gas, gas liquids and condensates is sent to its facilities in Al-Zour. The development of this strategic field will contribute to meeting the growth of domestic demand for natural gas and its liquids in the two brotherly countries.

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