Saudi Aramco’s wholly-owned subsidiary Aramco Gulf Operations Company signed on Saturday a memorandum of understanding (MoU) with state-owned Kuwait Gulf Oil Company (KGOC) to develop the joint Durra gas field.
Kuwait’s Deputy Prime Minister and Minister of Oil Badr al-Mulla and Saudi Minister of Energy Prince Abdulaziz bin Salman attended the signing ceremony in Kuwait.
In March, the two countries signed a document to jointly develop and explore the Durra gas field.
The signing of the MoU is considered an implementation of an agreement to develop submerged field that was signed on Dec. 24, 2019 between the governments of the two Gulf States.
The development work will resume directly and the work will be accelerated according to the program implementation scheme and the timetable approved by the two countries.
The field is expected to produce roughly one billion cubic feet of natural gas per day, along with 84,000 barrels of liquefied gas.