Saudi Arabia and Kuwait have announced a new oil discovery in the so-called Partitioned Zone between the two OPEC heavyweights which share equally output from the area.
Saudi Arabia and Kuwait announced Wafra Joint Operations had made a new oil discovery in the North Wafra Wara-Burgan field, located 5 km north of the Wafra field, the official Saudi Press Agency reported.
This marks the first discovery since the resumption of production operations in the Partitioned Zone and its adjacent offshore area in mid-2020.
"The discovery is regarded as highly significant, given its positive impact on both countries’ standing as reliable global energy suppliers and their capabilities in the exploration and production sector," the report reads.
The so-called Partitioned Neutral Zone was established between Saudi Arabia and Kuwait in 1922 to settle a territorial dispute, while crude oil was first discovered at Wafra in the 1950s.
