Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman signed a document with his Kuwaiti counterpart Mohammad al-Fares to develop the Durra gas field, Kuwait Petroleum Corporation said in a statement on Monday.
The Durra field, which is shared between the two Gulf States, is expected to produce one billion standard cubic feet of gas per day and 84,000 barrels of condensates per day, the statement read.
They also agreed on setting up Al-Khafji Joint Operations Company, a joint venture between Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company.
The plan entails the use of cutting-edge and environment-friendly methods to ramp up gas output from the project.
They agreed to select a consultant to conduct the engineering studies necessary to develop the field, in accordance with the best techniques, topnotch technologies and practices that take into account safety, health and environmental preservation and develop the most efficient and effective engineering designs in terms of capital and operations.
As per the deal, the gas output will be divided evenly between the two countries based on the offshore separation option, which means that the share of each partner is separated on sea.
Aramco Gulf Operations’ share of natural gas, gas liquids and condensates will be sent to the company’s facilities at Khafji, while KGOC’s share will be sent to its facilities at al-Zour.
The project will contribute to meeting demand growth for natural gas and its liquids in the two countries.
