CAIRO (Reuters) – Saudi Arabia’s cabinet approved an agreement with Chevron Saudi Arabia (SAC) on the unbiased zone between the kingdom and Kuwait, the official news firm said Tuesday.
“He approved … modify and extend an agreement between the Saudi government and Chevron Saudi Arabia in the unbiased zone,” the cupboard said, without giving further details.
Kuwait and Saudi Arabia, both members of the Organization of Petroleum Exporting Countries (OPEC), agreed last year to end a five-year dispute over the border known as the unbiased zone, allowing production to resume in Wafra and Khafagi, jointly controlled oil. fields that can pump up to 0.5% of the world’s oil supply.
Crude oil production resumed in early July at the Wafra oil field, shared across Kuwait and Saudi Arabia.
SAC operates the Wafra oil box on behalf of Saudi Arabia in collaboration with Kuwait Gulf Oil Company (KGOC).
(Report through Nayera Abdallah and Marwa Rashad, edited through Chris Reese and Richard Pullin)
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