Saudi Arabia signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra offshore gas field, which will produce roughly one billion cubic feet of gas equally between the two countries.
The controversial Durra shared gas field extends into Iran, Saudi Arabia and Kuwait, with all three nations claiming rights to the field’s hydrocarbon reserves.
The signing of MoU is considered an implementation of an agreement on developing Al-Durra submerged field that was signed in March 2022 and accelerate the works based on the program implementation and time schedule plan approved by the two countries.
The project is being jointly developed by Saudi-based Aramco Gulf Operations Co and Kuwait Gulf Oil Co and the output will be shared equally by the two nations.
