[14/07/2024 06:38]

KUWAIT - SABA
Kuwait Oil Company announced Sunday the discovery of huge commercial quantities of light oil and associated gas in the al-Nokhatha offshore field located east of Failaka Island within Kuwaiti economic waters.

The company said in a statement to the Kuwait News Agency (KUNA) that "the initial estimated area of the field is about 96 square kilometers," noting that this discovery represents an important turning point in its ongoing efforts to explore hydrocarbon resources in the Kuwaiti maritime area.

It added that "the daily production from well (al-Nokhatha - 1) from the Manaqeesh geological layer reaches about 2,800 barrels of light oil and 7 million cubic meters of associated gas".

It reported that the initial estimates of the hydrocarbon resource reserves in the layer are about 1.2 billion barrels of light oil and 1.5 trillion standard cubic feet of gas, equivalent to 2.3 billion barrels of oil equivalent.

It pointed out that these data "are preliminary data" with great possibilities to enhance and increase the quantity of hydrocarbon resource reserves in different layers and reservoirs of the discovered offshore field.

It revealed that the offshore area represents about a third of the total land area of the State of Kuwait, with an area exceeding 6,000 square kilometers, while the current exploration phase includes drilling 6 exploratory wells to search for oil and gas as an initial phase, and based on the results of drilling in this phase, the subsequent phases will be determined.

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