Latest news with #WafraJointOperations
Leaders
28-05-2025
- Business
- Leaders
Saudi Arabia, Kuwait Unveil Major Oil Discovery in Neutral Zone
Saudi Arabia and Kuwait celebrated a pivotal milestone with the first major oil find in their shared Neutral Zone since 2020, signaling renewed exploration momentum. The discovery, announced by Wafra Joint Operations (WJO), targets the North Wafra Wara-Burgan field, just five kilometers north of the existing Wafra reservoir. Initial tests reveal the Wara reservoir produces over 500 barrels daily, with crude API gravity between 26–27 degrees, indicating medium-density oil. This output underscores operational efficiency amid rising global energy demands, bolstering regional supply stability. Moreover, this marks the first success since cross-border operations resumed in mid-2020 after prolonged disruptions. The achievement highlights technical resilience and strategic collaboration, reinforcing both nations' roles as trusted energy partners. Economic and Geopolitical Impact The Neutral Zone's Wafra field spans 30 miles inland, feeding pipelines to Kuwaiti and Saudi export terminals. Its revival aligns with Saudi Arabia's Vision 2030 goals, balancing fossil fuel investments with renewable transitions. Meanwhile, Kuwait strengthens its foothold in OPEC+ coordination, navigating production cuts amid shifting market dynamics. Experts view this discovery as a catalyst for deeper investments in underexplored zones, leveraging advanced seismic technologies. For Saudi Arabia, it complements bold energy initiatives like NEOM, amplifying its global energy leadership. As the world pivots toward sustainability, this partnership reaffirms hydrocarbons' enduring role while charting pathways for diversified energy futures. Both nations now eye further breakthroughs, bridging tradition with innovation in an evolving sector. Short link : Post Views: 5
Zawya
28-05-2025
- Business
- Zawya
Kuwait, Saudi strike new oil in joint zone
KUWAIT CITY: The Governments of Kuwait and Saudi Arabia have declared new oil discovery in the partitioned zone, according to a joint press release, said the Kuwaiti Ministry of Oil on Monday. The ministry added in a statement that governments of the Kingdom of Saudi Arabia and the State of Kuwait announced that Wafra Joint Operations have made a new oil discovery in (North Wafra Wara-Burgan) field, located five kilometers north of Wafra field. Crude oil flowed from the Wara reservoir in the North Wafra (Wara-Burgan-1) well at a rate exceeding 500 barrels per day, with an API gravity of 26 to 27 degrees. This marks the first discovery since the resumption of production operations in the partitioned zone and its adjacent offshore area in mid-2020. The discovery is regarded as highly significant, given its positive impact on both countries standing as reliable global energy suppliers and their capabilities in the exploration and production sector. API gravity is a scale expressing the gravity or density of liquid petroleum products. (KUNA) Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Arab Times
26-05-2025
- Business
- Arab Times
Kuwait, Saudi strike new oil in joint zone
KUWAIT CITY, May 26 : The Governments of Kuwait and Saudi Arabia have declared new oil discovery in the partitioned zone, according to a joint press release, said the Kuwaiti Ministry of Oil on Monday. The ministry added in a statement that governments of the Kingdom of Saudi Arabia and the State of Kuwait announced that Wafra Joint Operations have made a new oil discovery in (North Wafra Wara-Burgan) field, located five kilometers north of Wafra field. Crude oil flowed from the Wara reservoir in the North Wafra (Wara-Burgan-1) well at a rate exceeding 500 barrels per day, with an API gravity of 26 to 27 degrees. This marks the first discovery since the resumption of production operations in the partitioned zone and its adjacent offshore area in mid-2020. The discovery is regarded as highly significant, given its positive impact on both countries standing as reliable global energy suppliers and their capabilities in the exploration and production sector. API gravity is a scale expressing the gravity or density of liquid petroleum products. (KUNA)
Asharq Al-Awsat
26-05-2025
- Business
- Asharq Al-Awsat
Saudi Arabia, Kuwait Announce New Oil Discovery in Partitioned Zone
Saudi Arabia and Kuwait announced on Monday that Wafra Joint Operations have made a new oil discovery in (North Wafra Wara-Burgan) field, located 5 kilometers north of Wafra field. Crude oil flowed from the Wara reservoir in the North Wafra (Wara-Burgan-1) well at a rate exceeding 500 barrels per day, with an API gravity of 26 to 27 degrees. This marks the first discovery since the resumption of production operations in the Partitioned Zone and its adjacent offshore area in mid-2020. The discovery is regarded as highly significant, given its positive impact on both countries' standing as reliable global energy suppliers and their capabilities in the exploration and production sector.
Zawya
24-04-2025
- Business
- Zawya
Kuwait's Combined Group wins Wafra gasline deal
Kuwait-listed Combined Group Contracting Company (CGCC) announced on Thursday that it has been awarded a contract to build a pipeline to export gas from Wafra Joint Operations venture owned by Saudi Arabia and Kuwait. CGCC said in a bourse disclosure statement that it has received a letter confirming the awarding of the project with a value of around 12.7 million Kuwaiti dinars ($42 million). The project was awarded by the state-owned Kuwait Oil Company and is expected to be completed within 30 months, CGCC said. In late 2022, Saudi Aramco and KOC signed a memorandum of understanding to jointly develop the Durrra gas field located in the Neutral Zone, which is shared by the two Gulf countries. The project aims to produce 280 million cubic metres of gas and around 84,000 barrels of LNG per day. (Writing by Nadim Kawach; Editing by Anoop Menon) (
