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Saturday , February 22 2020

Kuwait, Saudis sign neutral zone oil pact – Deal termed historic

KUWAIT CITY, Dec 24, (KUNA): Kuwait and Saudi Arabia on Tuesday signed agreements to divide the Neutral Zone between both countries and a memo of understanding to resume joint oil production along the border. Kuwaiti Foreign Minister Sheikh Dr Ahmad Nasser Al-Mohammad Al-Sabah and Saudi Minister of Energy Prince Abdulaziz bin Salman Al-Saud inked the deals. Kuwaiti Minister of Oil and Minister of Electricity and Water Dr Khaled Al-Fadhel and the Saudi minister of energy signed the memo of understanding.

Both sides stressed that the move refl ected distinguished fraternal relations between both brotherly countries under the steering of His Highness the Amir Sheikh Sabah Al- Ahmad Al-Jaber Al-Sabah and Saudi King Salman bin Abdualziz Al-Saud. They highly commended the signing of the agreements as a “landmark achievement” that has capped great cooperation between joint political, technical and legal teams.

Kuwaiti Deputy Foreign Minister Khaled Al-Jarallah and Saudi Ambassador to Kuwait Prince Sultan bin Saad Al-Saud attended the signing ceremony. An agreement between Kuwait and Saudi Arabia on Tuesday – to divide their shared Neutral Zone and resume oil production from joint oil fields – is a “historic” event in the two Gulf neighbors’ illustrious relationship, said Kuwait’s oil minister. Kuwait and Saudi Arabia’s collective histories are dotted with instances of “exemplary cooperation,”

Dr Khaled Al-Fadhel said amid a lavish ceremony to promulgate the deal. Production from the Khafji and Wafra fields will not affect the two countries’ OPEC commitments to reduce oil output, added the minister, expressing hope that resumed production would pay dividends for the Kuwaiti and Saudi economies. Saudi Energy Minister Prince Abdulaziz bin Salman Al-Saud, on Tuesday, said that talks between his country and Kuwait on the neutral zone in the past few years were focusing more on “harmony” rather than striking a deal. On the sidelines of the deal’s signing ceremony, the Saudi minister commended the brotherly relationship between His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and the Saudi King Salman bin Abdulaziz, describing it as a basis of the Kuwaiti-Saudi partnership.

After a meeting with His Highness the Amir, the Saudi minister affirmed that what links the two countries was greater than borders, but history and brotherly ties. He also pointed out that the Saudi Crown Prince Mohammad bin Salman has a prominent role in reaching this agreement and the memorandum of understanding. Earlier Tuesday, Kuwait and Saudi Arabia signed agreements to divide the Neutral Zone between both countries and a memo of understanding to resume joint oil production along the border.

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