Saudi Arabia and Kuwait have appealed to Iran to hold negotiations on demarcating the eastern boundary of the submerged Dorra natural gas field.
Saudi Arabia and Kuwait affirmed their right to exploit the natural resources in the gas field.
Both countries have previously invited Iran for negotiations, but there was no response from Iran.
The field is expected to produce 1 billion cubic feet of natural gas per day with 84,000 barrels of condensate daily.
Production will be divided equally between Saudi and Kuwaiti sides.
Both countries have also agreed to enable the establishment of Al Khafji joint operations company, which is a joint venture between Kuwait Gulf Oil Co. and Aramco Gulf Operations Co.
A consultant will be chosen to conduct the engineering studies necessary to develop the field in accordance with modern technologies and practices.
The development of the strategic field will contribute to meeting the growth of domestic demand on natural gas in the two countries.