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Saudi Arabia, Kuwait Reaffirm Rights to Durra Gas Field

NATURAL GAS

Saudi Arabia and Kuwait have reaffirmed their joint ownership rights over natural resources in the offshore Durra gas field, according to Saudi state news agency SPA.

  • The rights to develop Durra are contested by Iran, with the issue arising due to not having an official demarcation of its maritime border in the Gulf.
  • The Saudi foreign ministry said that both countries are renewing calls for Iran to negotiate on the demarcation of the Eastern Border of an area known as the “Divided Area”, adding that Saudi Arabia and Kuwait will negotiate as one party.
  • However, Iran said July 31 that it intends to pursue its claim over the gas field. “If there is no willingness to cooperate, Iran will pursue its rights and benefits, including the exploitation and exploration of the Arash gas field, and will not tolerate any violation of its rights,” Oil Minister Javad Owji said on Sunday.
  • Saudi Arabia and Kuwait signed an agreement to develop the field in March 2022, a deal to develop the field Iran blasted as “illegal”.
  • The field is expected to produce 1 Bcf/day of gas and 84,000 b/day of condensates.
Energy BulletsCommodities
Energy BulletsCommodities

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