KUWAIT, July 9 (KUNA) -- Representatives of Kuwait Gulf Oil Company (KGOC) and Saudi Arabian Chevron held a virtual meeting on Thursday to discuss the production rates of the onshore Wafra Oilfield in the Partitioned Zone (PZ).
Both sides reviewed the implementation of instructions of the ministries of oil of both countries in the light of the relevant memorandum of understanding (MoU), KGOC said in a statement.
KGOC delegation to the meeting was led by the company's Acting CEO Abdullah Ali Al-Sumaiti while Haim Al-Roweily led the Saudi Arabian Chevron side.
The meeting was part of the constant follow-up of Wafra PZ operations which led to the exportation of the first oil shipment from the zone on Tuesday, according to the statement.
Both sides renewed commitment to the provisions of the MoU and the appended agreement on the PZ signed on December 24, 2019.
They explored ways to protect the local environment, including how to reduce gas flare and make better use of associated petroleum gas, as per the environment protection rules effective in the State of Kuwait.
They also discussed the partnership in the development of Al-Zour area, Kuwait, with regard to the MoU on the takeovers of facilities in the area in collaboration with world-renowned consultancies.
Al-Sumaiti said the meeting coincided with both companies' celebrating the success of the exportation of the first oil shipment from Wafra PZ.
KGOC, founded in 2002 as a subsidiary of Kuwait Petroleum Corporation (KPC), is in charge of the management of Kuwait quota of the hydrocarbon resources of Wafra PZ, he noted.
The Divided Zone Agreement between the State of Kuwait and the Kingdom of Saudi Arabia entered into force, after being approved, along with the MoU, by Kuwait's National Assembly on January 21, 2020. (end) km.ha.gb