Kuwait Oil Company discovers new offshore oil and gas reserves
Shafaq News/ Kuwait Oil Company (KOC) and Kuwait Petroleum Corporation (KPC) announced the discovery of a large oil reserve in the Al-Noukhitha offshore field, east of Failaka Island, with an estimated total hydrocarbon reserve of light oil and gas reaching approximately 3.2 billion barrels of oil equivalent.
"This discovery marks a significant milestone in the company's ongoing efforts to explore hydrocarbon resources in Kuwait's offshore region." a statement said.
According to the Kuwait News Agency, the initial area of the field is about 96 square kilometers, while the daily production from the Noukhitha -1 well is around 2,800 barrels of light oil and 7 million cubic meters of associated gas.
Preliminary estimates suggest that the hydrocarbon resources in one layer amount to approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, equating to 3.2 billion barrels of oil equivalent.
The launch of the current offshore exploration project was based on 2D seismic surveys of Kuwait's marine area and geophysical and geological studies aimed at understanding the earth's layers and structures, determining the best drilling locations, securing them, and preparing for logistical operations.
KOC highlighted that the offshore area represents about one-third of Kuwait's total landmass, covering over 6,000 square kilometers. The current exploration phase includes drilling six exploratory wells for oil and gas as an initial stage, with subsequent phases to be determined based on drilling results.
