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Saudi-Kuwaiti joint oil firm appoints new chairman

Al Khafji Joint Operations names Kuwaiti national Homoud al-Otaibi as chairman

 Al Khafji Joint Operations (KJO), which is equally owned by Saudi Arabia and Kuwait, has appointed Homoud al-Otaibi as chairman, Reuters quoted industry sources as saying on Tuesday.

Otaibi replaces Abdullah al-Helal in the chairmanship, which alternates every three years between Saudi Arabia and Kuwait.

Otaibi is a Kuwaiti national and was general manager of the Wafra Joint Operations (WJO).

The Khafji offshore oilfield has been shut since October 2014 for environmental reasons.

Before the closure, the Khafji field produced around 280,000 barrels per day (bpd) to 300,000 bpd.

Saudi Arabia and Kuwait also share the Wafra oilfield, which has been shut since May due to operating difficulties.

US oil major Chevron operates the field on behalf of the Saudi government.

Staff Writer

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