Kuwait and Saudi Arabia have agreed onsharing oil output in the neutral zone after the establishment of anofficially-recognised border within the area, said the Kuwaiti negotiatingcommittee said on Saturday December 28th.
After a series of discussions thattook place last Tuesday, both parties reached three agreements appended toprevious agreements that date back to 1965 and 2000 by which the oil productionwill be resumed, according to the official Kuwaiti state press agency, KUNA.
Committee Director Ambassador MajdiAl-Dhifeeri hailed the breakthrough agreements, saying of them: "reflect thedepth of the neighbouring countries' strategic bilateral relationship, built ontransparency, exclusivity, mutual interest and compatibility."
It comes in accordance with thedirections of both His Highness the Amir Sheikh Sabah Al-Ahmad Al-JaberAl-Sabah of Kuwait and King Salman bin Abdulaziz Al-Saud of Saudi Arabia, headded.
The talks were described as havingbeen reached after both sides saw eye-to-eye "completely andcomprehensively" on the matters discussed "actually and not onlyverbally." "The goal is to be in accord, not to be divided," hesaid, adding Saudi Arabia is a "strategic depth" for Kuwait, just asKuwait is to Saudi Arabia.
Production in the neutral zone – inthe cities of Wafra (Kuwait) and Khafji (Saudi Arabia)- was put on hold in 2014with capacity of production hitting more than 470,000 barrels of oil per daythrough onshore and offshore fields.
