Oil exports from Khafji field should restart soon after fire

Oil exports from the Khafji field shared by Kuwait and Saudi Arabia should resume in the coming week after being halted by a fire last month, a person familiar with the matter said.

The halt from Khafji, which produced about 110,000 barrels a day before the fire, was compensated by Kuwait with other grades from the nation, according to the person, who asked not to be identified as the details aren’t public.

Officials at Kuwait Gulf Oil Co., which operates the fields on Kuwait’s behalf, didn’t respond to a request for comment.

The field is located in the neutral zone between the two nations. Capacity in the zone, which includes offshore Khafji deposits and the onshore Wafra area, totals around 500,000 barrels a day. Kuwait and Saudi Arabia had frozen output there for more than five years amid a dispute, before restarting production in 2020.