Oil & Gas Saudi and Kuwait reaffirm rights to ‘disputed’ gas field By Pramod Kumar August 3, 2023, 5:25 AM Pixabay Egypt says international bids to search for gas in 12 onshore and offshore areas are being evaluated Saudi Arabia and Kuwait have reaffirmed that they jointly own rights to natural resources in the maritime “divided area,” including the entire Al Durra gas field, according to the Saudi foreign ministry. The two countries renewed calls for Iran to engage in negotiations on the demarcation of the eastern border of the divided area, the state-owned Saudi Press Agency reported. Saudi Arabia and Kuwait will negotiate with Iran as one party, and the talks will be conducted within the provisions of international law, the ministry said. Kuwait PM’s in-tray: public debt and budget reform Kuwait’s Alshaya Group targets US brands for expansion Kuwait plans new fund to develop local economy Kuwaiti Oil Minister Saad Al-Barrak in July said Kuwait and Saudi Arabia have “exclusive rights” to the Durra gas field in the Arabian Gulf. The offshore gas field is expected to produce one billion cubic feet of gas and 84,000 barrels of condensate per day. Iran previously said it has a stake in the field and termed the Saudi-Kuwaiti pact signed last year to develop the area as “illegal”. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
