What does Saudi/Kuwaiti ultimatum statement about Al-Durra gas field mean? -Faisal Faeq @FAISALFAEQ
Sunday, 4 June 2023
No Result
View All Result
MAAAL NEWS
  • Home
  • العربية
No Result
View All Result
  • Home
  • العربية
No Result
View All Result
MAAAL NEWS
No Result
View All Result

By Faisal Faeq

What does Saudi/Kuwaiti ultimatum statement about Al-Durra gas field mean?

13 Apr 2022

Faisal Faeq

Both Saudi Arabia and Kuwait have reaffirmed their rights to utilize their natural resources in the Al-Durra gas field, which means that they will go on with the field development implementation as agreed upon last month.

The statement from the Saudi/Kuwait Ministry of Foreign Affairs to expedite the development and exploitation of ‎Al-Durra gas field wasn’t because of Iran’s warning not to move ahead with the field development before the maritime border between Iran and Kuwait is properly delineated, but it was a renewed invitation to Iran to hold negotiations on defining the eastern boundary of the offshore area.

The “neutral zone” area between Saudi Arabia and Kuwait, this means that everything beneath it is divided equally between both countries. Al-Durra gas field is located in the “neutral zone” area upon the agreement to share wealth beneath the onshore and offshore, whether in Saudi Khafji zone or in Kuwait Wafra zone, regardless of the quantities of oil or gas.

Read More

Benefits of the PIF Investments Toward Newcastle United

Future Adoption of Blockchain Technology in Business Solutions

Saudi Arabia is all set to amaze the world again

Even if Kuwait struggles from a severe shortage of gas supplies to meet the rapidly increasing domestic power demand, and therefore its greater need to benefit from the common gas between the two countries, there is no greater winner or loser among both brothering nations the Kingdom of Saudi and the State of Kuwait.

Since the end of the concession contract granted to the former Japanese company in the “neutral zone”, Saudi Aramco and the Kuwait Oil Company have both developed and entirely developed and modernized the marine and onshore assets of the Khafji Joint Operations, by assigning the operations of these joint fields to Aramco Gulf Operations Company (a wholly owned company of Saudi Aramco) and the Kuwait Gulf Oil Company (a wholly owned company) to Kuwait Oil Company with an exemplary joint agreement for the management and production of oil and gas between the two brotherly countries that reinforces the concept of brotherhood, distinguished relations and the strong ties between the two countries. The Saudi and Kuwaiti citizens have both shared the development of all production operations and the development of joint oil and gas reservoirs.

Iran’s allegations regarding the Al-Durra gas field, which is located in the territorial waters between the Kingdom of Saudi Arabia and the State of Kuwait, are false allegations and in violation of international law and the rules of demarcation of maritime borders.

Iran’s allegations of its partnership in the joint Al-Dorra gas field between Saudi Arabia and Kuwait came after the signing of an agreement to develop the Al-Dorra gas field, which is expected to produce one billion cubic feet per day of natural gas and 84,000 barrels per day of condensate.

The dilapidated infrastructure of the oil and gas industry in Iran have not been developed since the era of the Shah of Iran at the end of the seventies of the last century, in addition to the rotten old gas facilities, there is a great reluctance of international companies to invest in Iran. Hence, Iran imports gas from its northern border countries, while it shares with Qatarin the world’s largest gas field in its southern borders.

Faisal Faeq

Energy Adviser (former OPEC and Saudi Aramco)

Twitter: @FAISALFAEQ

Previous Post

Fundamental Principles for Startup Growth

Next Post

Oil prices recovered swiftly amid market vulnerability to supply risk

Related Posts

Roadmap of Saudi Arabia for 2023 and beyond

Use of Blockchain technology in Government Sector of Saudi Arabia

The Legal Framework for Sustainable Family Businesses in the Kingdom

How might ChatGPT impact investors?

The Ministry of Tourism: Making Saudi Arabia the Most Coveted Destination in the Middle East

The Impact of HRH Prince Abdulaziz bin Salman on KSA and the World

Articles

الكاتب

The New Model of Care

Alaa Mulla

الكاتب

Saudi Astronauts Have Safely Arrived on the International Space Station

Prof. Alaa Alghamdi

الكاتب

The War on Drugs in Saudi Arabia is Pressing on With Positive Results

Prof. Alaa Alghamdi

الكاتب

Benefits of the PIF Investments Toward Newcastle United

Prof. Alaa Alghamdi

More

Read More

Saudi Arabia’s Quality of Life Program: Development, Diversification, and Social Impact

Second challenge of passenger growth

In the Saudi stock market, women make up 26% of investors. What are the causes of this low proportion, and what suggestions are there to raise it?

© 2020 All rights reserved to Maaal Newspaper
Publisher: Maaal International Media Company
License: 465734

Quick links

  • News
  • Articles
  • Maaal

Contact Us

055 144  3666  
[email protected]  

No Result
View All Result
  • العربية
  • Home

© 2020 All rights reserved to Maaal Newspaper - Publisher: Maaal International Media Company - License: 465734