The Kuwait Petroleum Corporation (KPC) announced a "huge" offshore discovery that may hold an estimated 2.1 billion bbl of light crude along with 5.1 Tcf of natural gas, or 3.2 billion BOE.
The exploration well drilled in the Al-Noukhitha offshore field was reported to have an initial production of about 2,800 B/D and 7 MMscf/D of gas. According to the national oil company, the first phase of the project will involve drilling six additional exploratory wells in the field.
KPC’s CEO Sheikh Nawaf Saud Nasir Al-Sabah said in a video shared on social media that the discovery's reserves amount to 3 years of the nation’s current output. The discovery of the 96 km² field was made using 2D seismic surveys, along with geophysical and geological surveys, to characterize the reservoir and identify potential drilling locations.
KPC said in a statement to Kuwait’s state news service that the field, east of Failaka Island, marks a major step forward in the company's pursuit of offshore resources. The country’s marine area covers approximately 6,000 km², equivalent to about one-third of its total land area.
Kuwait has set a goal to increase its production capacity from around 3 million B/D to 4 million B/D by 2035.
