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Saudi-Kuwaiti joint oil firm appoints new chairman
October 20, 2015 / 9:59 AM / 2 years ago

Saudi-Kuwaiti joint oil firm appoints new chairman

KHOBAR, Saudi Arabia, Oct 20 (Reuters) - Al Khafji Joint Operations (KJO), which is equally owned by Saudi Arabia and Kuwait, has appointed Homoud al-Otaibi as chairman, industry sources said on Tuesday.

Otaibi replaces Abdullah al-Helal in the chairmanship, which alternates every three years between Saudi Arabia and Kuwait.

Otaibi is a Kuwaiti citizen and was general manager of the Wafra Joint Operations (WJO), .

The Khafji offshore oilfield has been shut since October 2014 for environmental reasons.

Before the closure, the Khafji field produced around 280,000 bpd to 300,000 bpd.

Saudi Arabia and Kuwait also share the Wafra oilfield, which has been shut since May due to operating difficulties.

U.S. oil major Chevron operates the field on behalf of the Saudi government. (Reporting by Reem Shamseddine)

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