More than five years since the first shut-in at the Partitioned Neutral Zone (PNZ: MEES, 24 October 2014), Saudi Arabia and Kuwait have reached an agreement on resuming production. The partners have ambitious plans to boost output to over 500,000 b/d by end-2020.
Kuwait Foreign Minister Sheikh Ahmad Nasser al-Sabah and Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud signed an agreement firming up the PNZ’s territorial boundaries on 24 December. Prince Abdulaziz then signed an MoU with his Kuwaiti counterpart, Khaled al-Fadhel on resuming output from the PNZ. (CONTINUED - 967 WORDS)