Saudi Arabia Special
Saudi Arabia and Kuwait Announce New Oil Discovery in North Wafra Field
Saudi Arabia and Kuwait have jointly announced a significant oil discovery in the North Wafra Wara-Burgan field, located about 5 kilometers north of the Wafra field within the Partitioned Zone between the two nations.
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Key Details
Discovery Highlights
- Crude Oil Flow: The Wara reservoir in the North Wafra (Wara-Burgan-1) well produced crude oil at a rate exceeding 500 barrels per day.
- API Gravity: The crude oil has an API gravity of 26 to 27 degrees.
Historical Context
- This marks the first oil discovery since the resumption of production operations in the Partitioned Zone and its adjacent offshore area in mid-2020. Production resumed after a period of suspension, allowing both countries to restart joint operations.
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Strategic Importance
- The discovery is deemed strategically significant as it reinforces Saudi Arabia and Kuwait’s positions as reliable global energy suppliers.
- It also highlights the ongoing capabilities of both nations in exploration and production across their shared oil fields.
This new find is expected to contribute positively to the energy sectors of both countries, further solidifying their roles in the global oil market.
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