Kuwait announces “huge” offshore discovery

Kuwait

KUWAIT CITY, July 15, 2024 – State-owned Kuwait Oil Company (KOC) has announced a significant discovery of light oil and associated gas in the offshore Al Nokhatha field, state news wire service Kuwait News Agency reported on Sunday.

Preliminary estimates indicate the presence of about 2.1 billion barrels of light oil and 144.4 bcm (5.1 tcf) of gas, for a total of approximately 3.2 billion boe.

“These initial findings indicate huge potential to further increase hydrocarbon resource quantities in various layers and reservoirs within the discovered field,” said KOC in a statement to Kuwait News agency, adding that the discovery is “a key breakthrough in Kuwait’s exploration of hydrocarbon resources in its marine area.”

The marine exploration project was based on 2D seismic surveys of the area along with geophysical and geological studies. The first drilling phase includes six exploratory wells, and the results will inform further drilling efforts and the establishment of a development plan to commence production.

Located west of Kuwait’s Failaka Island, Al Nokhatha is currently producing light oil at a rate of 2,800 bopd and 7 mcm (247.2 mcf) of associated gas per day.

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