Libya will sign a 25-year agreement with TotalEnergies and ConocoPhillips will provide more than $20 billion in investments

Libya will sign a 25-year agreement with TotalEnergies and ConocoPhillips will provide more than  billion in investments
Libya will sign a 25-year agreement with TotalEnergies and ConocoPhillips will provide more than  billion in investments

Saudi Arabia and Kuwait have discussed major projects and the establishment of a unified mechanism for tax procedures in the Divided Zone, during a meeting of the Saudi-Kuwaiti Joint Permanent Committee held on Sunday at its headquarters in Al-Khafji, Saudi Arabia.

The meeting, co-chaired by Undersecretary of Kuwait’s Ministry of Petroleum, Sheikh Dr. Nimer Fahad Al-Malik Al-Sabah, and Saudi Arabia’s Deputy Minister of Energy, Mohammed Al-Brahim, reviewed progress in creating a unified fiscal framework aimed at providing a clear regulatory structure for relevant authorities, improving the organization of revenue, boosting procedural efficiency, and ensuring fairness and transparency in line with shared interests.

The meeting reviewed reports on petroleum operations in the onshore and offshore areas of the Divided Zone, including strategic plans, current and future projects, potential challenges to the implementation and use of advanced technologies in petroleum operations, environmental and safety initiatives, national workforce development and training plans.

According to Kuwait’s Ministry of Petroleum, the meeting is part of ongoing efforts to implement the memorandum of understanding signed between the two countries on December 24, 2019, strengthening bilateral coordination and serving their strategic interests in the Divided Zone.

The committee reviewed the procedures completed for the evacuation of Chevron Saudi Arabia from its sites in the Al-Zour area. The Kuwaiti government officially took charge of the sites on January 20, reflecting a high level of institutional cooperation between the two parties.

The meeting discussed efforts to allocate exclusive routes at the Al-Nuwaiseeb and Al-Khafji border crossings for joint operations personnel, including the opening of a new lane and the provision of technical infrastructure, which has eased personnel mobility and logistical challenges.

The officials also reviewed development and investment plans for onshore and offshore fields, emphasizing the need to accelerate implementation and provide full support for engineering and technical works.

Sheikh Nimer Al-Sabah highlighted the importance of holding regular committee meetings to monitor oil operations, address challenges and advance strategic projects. He praised the close cooperation between Kuwait’s Ministry of Petroleum and Saudi Arabia’s Ministry of Energy, as well as joint operations involving Kuwait Gulf Oil Company, Aramco Gulf Operations Company and Chevron Saudi Arabia.

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