Kuwait City: Kuwait Petroleum Corporation (KPC) has announced a “giant” oil discovery in the Al-Nokhatha field, located east of the Kuwaiti island of Failaka. The newly discovered reserves are estimated to contain a staggering 3.2 billion barrels of oil.
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In a video posted on X, KPC’s CEO Sheikh Nawaf Saud Nasir Al-Sabah revealed that the reserves from this new discovery are equivalent to Kuwait’s entire oil production for three years. “This discovery marks a significant milestone for Kuwait’s oil industry and our national economy,” said Sheikh Nawaf.
The initial estimated area of the Al-Nokhatha oil well covers approximately 96 square kilometers. According to KPC’s statement, the preliminary estimates indicate that the hydrocarbon reserves at the well include approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, which equates to 3.2 billion barrels of oil equivalent.
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This discovery is expected to bolster Kuwait’s oil reserves and contribute to the country’s energy security and economic stability. KPC will continue its efforts to explore and develop new oil fields to maintain its position as a leading oil producer globally.
Kuwait oil discovery, Al-Nokhatha field, Kuwait Petroleum Corporation, KPC oil reserves, Sheikh Nawaf Saud Nasir Al-Sabah
