Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Copper Tip Energy Services
Hazloc Heaters
Hazloc Heaters
Copper Tip Energy


Kuwait Announces ‘Giant’ Oil Discovery


These translations are done via Google Translate

(Reuters) – Kuwait Petroleum Corporation (KPC) said on Sunday it had made a “giant” oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka, with oil reserves estimated at 3.2 billion barrels.

KPC’s CEO Sheikh Nawaf Saud Nasir Al-Sabah said in a video posted by the company on X that the new discovery’s reserves were equivalent to the country’s entire production in three years.

The initial estimated area of the newly discovered oil well is around 96 square km, KPC said in its statement.

It added that the preliminary estimates of the hydrocarbon reserves present at the well were estimated at approximately 2.1 billion barrels of light oil, and 5.1 trillion standard cubic feet of gas, which correspond to 3.2 billion barrels of oil equivalent.

Reporting by Jaidaa Taha and Muhammad Al Gebaly; Editing by Jan Harvey and David Evans

 



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE