Riyadh (TDI): Saudi Arabia and Kuwait have jointly announced a significant new oil discovery in the North Wafra Wara-Burgan field, located nearly 5 kilometers north of the main Wafra field, the Kingdom’s Energy Ministry said in a statement on Monday.
The discovery was made by Wafra Joint Operations, where crude oil flowed from the Wara reservoir in the North Wafra (Wara-Burgan One) well at a rate over 500 barrels per day, according to the statement.
The oil has an API gravity of 26 to 27 degrees, showing a medium-grade crude.
This marks the first oil discovery since the resumption of production operations in the partitioned zone and its adjacent offshore regions in mid-2020.
The find is considered a significant milestone, reinforcing both countries’ positions as dependable international energy suppliers and demonstrating their continued strength in the exploration and production sector.
Analyst say that the new discovery might further cement the historic energy partnership between Saudi Arabia and Kuwait, especially in the Partitioned Neutral Zone which has always remained a symbol for their historical strategic alignment in oil exploration and development.
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The Wafra Joint Operations team has stated that further work in drilling and testing will be carried out to reach the full potential of the reservoir.
If the reservoir is deemed commercially viable, this may lead to an expansion in production facilities in that area.
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This discovery is set against a background where global energy markets closely monitor supply developments against the backdrop of geopolitical upheavals and a growing demand for clean energy.
Medium-grade, Wara-Burgan crude could prove to be a compromise option for refiners in terms of reliable yield and processing characteristics.
Farkhund Yousafzai is an Associate Editor at The Diplomatic Insight.
