The two Gulf Cooperation Council states raised output capacity along
their so-called Neutral Zone to 610,000 barrels per day.
This marked a more than 10 percent increase over the last two years in a project led by the U.S.
energy major Chevron.
Also In This Edition
"Bearing in mind that this is a declining field, our target now is
sustainability," Kuwait Oil Co. managing director Bader Al Khashti said.
Al Kashti said Kuwait and Saudi Arabia intend to spend $11 billion on
the Neutral Zone over the next decade. He said Chevron would seek to enhance
oil recovery from the Khafji offshore, with an oil production of 350,000
barrels per day in March 2010.
ShareThis
