A jointly operated onshore oilfield between Saudi Arabia and Kuwait will shut for two weeks of maintenance, a Kuwaiti industry source said on Monday, a move apparently aimed at giving the Gulf OPEC allies more time to solve a long-standing dispute.
The scheduled closure of the Wafra onshore oilfield, operated by a Saudi Arabian division of U.S. oil major Chevron, will start on Monday night or Tuesday, the source told Reuters. The source declined to be named because of the commercial sensitivity of the matter.
"It is planned maintenance starting from tonight or tomorrow," the source said, adding that production from the onshore fields in the Neutral Zone between Saudi Arabia and Kuwait was about 190,000 barrels per day.
Last month, Saudi Chevron told its partner, Kuwait Gulf Oil Company, that it planned to shut down Wafra after failing to resolve various disputes with Kuwait, mainly related to the right to operate, according to industry sources. The Kuwaiti source dismissed the idea that the disputes with Chevron were the reason for the shutdown.We have a shooting war in the Mideast; we have four of six monarchs boycotting President Obama's summit on the Mideast; and, now, we have a "scheduled" shutdown of an oil field in the Mideast for two weeks.