Saudi Arabia, Kuwait Announce Major Oil Discovery in Neutral Zone

Saudi Arabia and Kuwait have jointly announced a major oil discovery in the Neutral Zone, specifically in the North Wafra Wara-Burgan field, marking the first significant find since resuming production there in 2020. This discovery, with an initial output of over 500 barrels per day, reinforces the strategic importance of the neutral zone and bolsters both countries' positions as leading global energy suppliers amid volatile oil markets. The find complements recent regional developments, including Saudi Aramco's revelation of 14 new fields and Kuwait's large discovery at the Al-Nokhatha field. In parallel, Iran is advancing its oil exploration efforts using modern technologies, focusing on identifying smaller oil fields and unconventional resources like shale oil, which could enhance private sector participation and economic development. Meanwhile, Saudi Arabia is also making strides in diversifying its economy, with non-oil exports rising 13.4 percent in early 2025, reflecting the Kingdom’s Vision 2030 goals to reduce oil dependency and boost non-energy sectors. Together, these developments highlight significant shifts in the Middle East's energy landscape, with countries seeking to strengthen energy security while pursuing broader economic transformation.