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KOC announces hydrocarbons find

KUWAIT, March 24, 2016 – Kuwait Oil Company (KOC) on Thursday announced a new hydrocarbons discovery in western Kuwait, found in proximity to the existing Al Manaqeesf field.

 

While no announcements have been made regarding the exact volumes of hydrocarbons that were discovered in the area, KOC CEO Jamal Abdelaziz Jaafar said the find represented a “substantial” addition to the country’s production potential and “reserves of light oil and gas.”

Located in Al Jathatheel, the find is currently being evaluated by KOC teams on site. According to the Kuwait News Agency, initial scans of the subsoil point to promising economic feasibility prospects for the discovery, which, according to Jaafar, could “enrich Kuwaiti oil reserves and enable the country to pursue crude oil production for decades to come.”

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