Saudi king to visit Kuwait Hope for Khafji
Saudi King Salman is to visit Kuwait next week as hopes rise in the state of a resumption of production from a jointly run oilfield after a twoyear shutdown. The king will travel to Kuwait on Dec 8 after a Gulf summit in Bahrain and stay for three days, Al-Jarida newspaper reported yesterday. His visit comes as the state-owned Kuwait Gulf Oil Co (KGOC) readies for a long hoped-for resumption of production from the offshore Khafji field, jointly run with Saudi Aramco Gulf Operations.
In an internal memo seen by AFP, KGOC asked staff to make the necessary preparations. It ordered implementation of a Startup Readiness Plan to put “facilities in operational ready state within least possible period in order to achieve the resumption of Khafji crude oil production”. Output from the Khafji field was halted in Oct 2014. Saudi Arabia cited environmental concerns but the move came amid a slump in prices that put pressure on producers around the world.
The halt to the field’s production of 300,000 barrels per day - shared equally between the two countries - hit Kuwait far harder than Saudi Arabia. The state lacks the spare production capacity its giant neighbor enjoys. — AFP