Kuwait- KGOC prepared for resuming oil output at neutral zone - CEO

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Dec 24 (KUNA) -- CEO of Kuwait Gulf Oil Company (KGOC) Abdullah Al-Sumaiti on Tuesday stressed the readiness of the joint operations team at Al-Wafra area to resume production in the neutral zone between Kuwait and Saudi Arabia.
Speaking at a ceremony to announce the resumption of oil output at this zone, Al-Sumaiti said that the team has proven high efficiency in maintaining and preserving the safety of the facilities.
The team awaits the orders and instructions to resume production, he said, affirming the team's abidance by the international standards. He commended the KGOC staff who managed to overcome difficulties.
The suspension of the output over the last period created a great opportunity to set the plans of a bright and promising future stage in accordance with the highest standards, he said, expressing his pride for the directives, confidence and continued support of the Kuwaiti political leadership.
Earlier in the day, Kuwait Foreign Minister Sheikh Ahmad Nasser Al-Mohammad Al-Sabah and Saudi Minister of Energy Prince Abdulaziz bin Salman signed an agreement to divide the neutral zone between both countries.
Kuwaiti Minister of Oil and Minister of Electricity and Water Khaled Al-Fadhel and his Saudi counterpart Prince Abdulaziz inked a memorandum of understanding pertaining the measures of resuming the output between the two sides.
The KGOC represents Kuwait in the neutral zone and is responsible for exploring and producing oil in several fields in this area.
The company is also responsible for exploring, developing and producing oil in the neutral zone, which includes oil and gas fields in the areas of Khafji, Lulu, Al-Hout and Al-Durra.
Saudi Arabia's Chevron Company carries out the output operations in the zone in partnership with the KGOC.
The neutral zone between the two countries was established as a buffer zone on the international borders aiming to boost cooperation and develop projects in that region.
Hydrocarbon resources are distributed equally, and exploration operations are managed through the joint operations committee between the two countries. (pickup previous)
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