Handover Of Saudi And Kuwait Facilities To Begin

By January 25, 2026, Kuwait and Saudi Arabia will hand over the land, facilities, and administrative and residential buildings located in the Al-Zour region, register them as State property, and assign the Ministry of Finance the responsibility to complete the necessary steps.

In a local Arabic daily quoted by sources, Kuwait Petroleum Corporation requested that the neutral zone and the submerged zone be divided between the two countries under the provisions of the agreement annexed to the agreement.

According to informed sources, the Ministry of Finance decided to exploit the F1 site for oil purposes and petrochemical exports after examining the area and its tanks and pipelines for oil business.

Kuwait Petroleum Corporation was also tasked with taking the necessary steps to assign the “F1” site to the Ministry of Finance and Kuwait Municipality in coordination with the Ministry of Finance to develop facilities for the production of offshore fields, as well as a marine berth and facilities to export petrochemical products from that site.

Kuwait and Saudi Arabia had signed an agreement to demarcate the divided and submerged area, through which it was agreed that Saudi Arabian Chevron Company would continue to use the land, facilities, and administrative and residential buildings with an area of 700,000 square meters (0.7 square kilometers) located in the Al-Zour region, provided that the company vacates these facilities within 5 years of the date on which the Government of Kuwait pays the amount of compensation to Saudi Arabia Chevron.

Comments Post Comment

Leave a Comment

Submit