Kuwait Announces Discovery of Substantial Quantities of Oil, Gas

Kuwait Petroleum Corporation (KPC) said on Sunday it had discovered massive quantities of light crude oil and associated gas in the Al Nokhatha field east of the Kuwaiti island of Failaka. In a statement, KPC reported that the initial estimates of hydrocarbon resources in the reservoir layer are approximately 2.2 billion barrels of light crude oil and 1.5 trillion standard cubic feet of gas, equivalent to 2.3 billion barrels of oil. The Corporation highlighted that these are primary data with a high probability of enhancing and increasing the quantity of hydrocarbon resources in multiple layers and reservoirs within the discovered offshore field. Additionally, KPC affirmed that this discovery represents a critical turning point in its unwavering efforts dedicated to exploring hydrocarbon resources in the Kuwaiti marine zone. Source: Qatar News Agency