Kuwait exports first shipment of oil from joint project with Saudi

The Kuwaiti Ministry of Oil announced yesterday that it had exported the first shipment of Al-Khafji oil from joint operations in the neutral zone between it and Saudi Arabia.

The ministry stated on Twitter that the shipment was loaded on Saturday and Sunday “via the Kuwaiti carrier, Dar Salwa.”

On Friday, Minister of Oil Khaled Ali Al-Fadhil said Dar Salwa will head to Asia loaded with about one million barrels of crude oil.

In February, Saudi Arabia and Kuwait started the trial phase of production from the oil fields that they jointly manage, after agreeing last year to end a five-year dispute over the region that pumps 0.5 per cent of global crude supplies.

More than five years ago, Saudi Arabia and Kuwait stopped oil production from Al-Khafji and Wafra fields, reducing global oil supplies by about 500,000 barrels per day at the time.

The Wafra field is operated by the Kuwait Gulf Oil Company, which is managed by the Kuwait Petroleum Corporation, and Chevron on behalf of Saudi Arabia, while Al-Khafji field is managed by Saudi Aramco and the Kuwait Gulf Oil Company.

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