Saudi Arabia, Kuwait agree on maritime boundaries

Saudi Arabia and Kuwait signed an agreement earlier this month demarcating maritime boundaries, including the treatment of a hydrocarbon-rich area disputed with Iran. Kuwaiti Foreign Minister Sheikh Sabah al Ahmed and his Saudi counterpart, Prince Saud al Faisal, inked the accord during a visit to Kuwait by Saudi Crown Prince Abdullah bin Abdel Aziz.


KUWAIT�Saudi Arabia and Kuwait signed an agreement earlier this month demarcating maritime boundaries, including the treatment of a hydrocarbon-rich area disputed with Iran. Kuwaiti Foreign Minister Sheikh Sabah al Ahmed and his Saudi counterpart, Prince Saud al Faisal, inked the accord during a visit to Kuwait by Saudi Crown Prince Abdullah bin Abdel Aziz.

Asked about the Dorra natural gas field, which Iran sought to share with both countries, Al Faisal said Saudi Arabia and Kuwait "have a common position towards Iran. The border demarcation issue with Iran will be solved by the same peaceful and amicable means that have been pursued to solve previous pending problems," he said.

The report, carried by the Kuwaiti News Agency, said that Kuwait in April protested against Iran's drilling in an area near Al Dorra gas field on the continental shelf in a triangular area between Iran, Saudi Arabia, and Kuwait that had not been demarcated. Iran responded by stopping the drilling, which started in January (OGJ Online, May 16, 2000).

Discovered in 1967, Al Dorra field is estimated to contain reserves of 5 billion boe of gas and condensate.

Last month, Kuwaiti Oil Minister Sheikh Saud Nasser al Sabah met with Saudi Arabia's Oil Minister Ali I. Naimi to discuss the demarcation of offshore boundaries (OGJ Online, June 7, 2000). Al Sabah said both countries agree on the need to maintain market stability and to strike a balance between supply and demand.

"We do not wish to see high prices that harm world economies and create economic shocks," said Al Sabah in June. "Neither do we wish to see prices decline again, affecting the economies of producing countries, as was the case in 1997 and 1998."

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