Kuwait and Saudi Arabia start work to resume oil output from Khafji: sources - Reuters:
Kuwait and Saudi Arabia have started preparation work to resume crude oil production from the al-Khafji oilfield jointly operated by the two countries, with initial output expected around the end of February, two industry sources said.
Kuwait and Saudi Arabia, both members of the Organization of the Petroleum Exporting Countries (OPEC), agreed last year to end a five-year dispute over the area known as the Neutral Zone, allowing production to resume at two jointly run fields that can pump up to 0.5% of the world’s oil supply.
Trial production of about 10,000 barrels per day (bpd) from Khafji will start around Feb. 25, a Kuwaiti oil official told Reuters on condition of anonymity, adding that this would be “sufficient to test all installations and their operational efficiency”.
The field should be pumping about 60,000 bpd by August, the official said.
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