Kuwait Petroleum Corporation (KPC) announced on Sunday that it had discovered a significant amount of oil in the Al Nokhatha field east of the Kuwaiti island of Failaka, estimating the reserves at 3.2 billion barrels.
In a video shared by the company on X, KPC’s CEO Sheikh Nawaf Saud Nasir Al-Sabah described the new discovery as equivalent to Kuwait’s entire production over three years.
KPC stated in its release that the initial estimated area of the newly found oil well covers approximately 96 square kilometres.
The company also disclosed that the preliminary assessments of hydrocarbon reserves at the well were about 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, totalling 3.2 billion barrels of oil equivalent.
The Al Nokhatha well currently produces 2,800 barrels of light oil and 7 million cubic meters of associated gas daily.
“We will devise development plans based on initial test outcomes to commence production from the field at the earliest opportunity, thereby augmenting KOC’s production capacity,” the company declared.
Kuwait’s Hydrocarbon Reserves
Kuwait currently ranks sixth globally in terms of oil reserves, constituting approximately 6.1 per cent of the world’s total oil reserves. According to Worldometer data, it stands among the top 10 oil-producing nations worldwide.
Among the OPEC nations, Kuwait holds the position of the fifth largest crude oil producer.
The country has been increasing its hydrocarbon output by expanding its refining capabilities, reaching 1.8 million barrels per day (bpd) in May with the full operational launch of the Al Zour refinery, one of the Middle East’s largest.
In recent months, the Al Zour refinery, consisting of three units, achieved its maximum capacity of 615,000 bpd and was officially inaugurated earlier this year.
