Aramco Gulf Operations Company and Kuwait Gulf Oil Company have signed an MoU to jointly develop the offshore gas field located in the Neutral Zone
Prince Abdulaziz bin Salman, Saudi Arabia's Minister of Energy, signed last March a document with his Kuwaiti counterpart to develop the Durra gas field, the state news agency SPA reported.
The gas field development builds on the MoU signed by Saudi Arabia and Kuwait on Dec. 24, 2019, on The development aims at producing 1 billion cubic feet of gas equally between the two partners.
The GCC is well positioned to lead the energy transition through clean hydrogen development and strong policy support, said industry leaders at the16th Gulf Petrochemicals and Chemicals Association (GPCA) Forum, which was held on December 6 in Saudi capital Riyadh.
The region is well placed to capitalize on the opportunities afforded by its vast material resources, its modern infrastructure and technological know-how lead the way on the path to a more sustainable future, they said.
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