Kuwait to Launch Durra Field Bid Rounds in 2025 with Saudi Arabia Partnership
Kuwaiti Oil Minister Tariq Al-Roumi announced that bid rounds for the Durra offshore oil and gas field, developed in partnership with Saudi Arabia, are set to launch in 2025. The project is now free of obstacles, with tenders for its development to be issued soon. Al-Roumi expressed optimism about oil market conditions following OPEC+'s decision to maintain output levels amid rising crude prices and geopolitical tensions.
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Kuwaiti Oil Minister Tariq Al-Roumi announced that bid rounds for the Durra offshore oil and gas field are expected to launch in 2025. The project, developed in partnership with Saudi Arabia, is now free of obstacles, and tenders will be issued for its extensive development.
Al-Roumi commented on current oil market conditions, expressing hope for price improvements while deeming current levels acceptable. His statements followed OPEC+'s decision to maintain unchanged oil output levels amid rising crude prices and concerns over U.S. military actions against Iran. The Durra gas field, located in the neutral zone between Kuwait and Saudi Arabia in the northern Arabian Gulf, is significant for its natural gas and condensate reserves, crucial for enhancing regional gas supplies for power generation and petrochemicals.
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