Skip to content Skip to Search
Skip navigation

Saudi and Kuwait reaffirm rights to ‘disputed’ gas field

By Pramod Kumar
Egypt gas wells 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.

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”.

Latest articles

PIF acquires 15% stake in London’s Heathrow airport

Saudi Arabia’s Public Investment Fund (PIF) has acquired a 15 percent stake in FGP TopCo, the holding company of Heathrow Airport Holdings. The stake was purchased from Spanish infrastructure giant Ferrovial and other FGP TopCo shareholders. Simultaneously, Ardian, a Paris-headquartered private equity fund, has acquired 22.6 percent of FGP TopCo from the same shareholders through a […]

Jordan to get $131m under IMF’s finance programme

Jordan will receive $131 million from the International Monetary Fund (IMF) under its $1.2 billion extended fund facility programme (EEF). The four-year programme, approved in January 2024, remains on track, the IMF said in a statement following the completion of a second review. Jordan’s economy continues to grow amid low inflation, the fund said, adding […]

City, Architecture, Building

Hilton set to triple Egypt presence with new brands

Hilton is set to triple its presence in Egypt, increasing the number of hotels to 25 and expanding its footprint to more than 40 properties over the coming years. The expansion includes the opening of its lifestyle brand, Tapestry Collection, on the African continent, as well as Egypt’s first Curio Collection and a resort under […]

UAE non-oil trade with Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia increased by 29% in the first half of this year

UAE finalises trade deal with five-nation EAEU bloc

The UAE has finalised an economic agreement with the Eurasian Economic Union (EAEU) that will reduce or remove tariffs and eliminate technical barriers to trade with five countries.  The economic partnership agreement with the EAEU, made up of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, will align customs procedures and harmonise digital trade and ecommerce, UAE […]