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(Kuwait Oil): Discovery of huge quantities of light oil and gas associated with the Nokhadha offshore field, east of Failaka Island

15-07-2024

The Kuwait Oil Company announced on Sunday the discovery of huge commercial quantities of light oil and associated gas in the Nokhatha offshore field, which is located east of Failaka Island in Kuwaiti economic waters. The company said in a statement to Kuwait News Agency (KUNA) that the initial estimated area of ​​the field is approximately 96 square kilometers, pointing out that this discovery represents an important turning point in its ongoing efforts to explore hydrocarbon resources in the Kuwaiti marine region. She explained that the daily production from the well (Nukhadha - 1) in the Manaqish geological layer amounts to about 2,800 barrels of light oil and 7 million cubic meters of associated gas. It reported that preliminary estimates of the stock of hydrocarbon resources present in Tabqa are estimated at approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, equivalent to 3.2 billion barrels of oil equivalent. She pointed out that this data “is considered preliminary data” with great potential to enhance and increase the amount of hydrocarbon resource reserves in different layers and reservoirs in the discovered marine field. She stated that the launch of the stages of the current marine exploration project was based on two-dimensional seismic surveys of the Kuwaiti marine region and geophysical and geological studies that were prepared to know the details of the earth’s layers and compositions, identify and secure the best marine drilling sites, and prepare for logistical operations. She revealed that the marine area represents approximately one-third of the total land area of ​​the State of Kuwait, with an area of ​​more than 6,000 square kilometers, while the current phase of exploration includes drilling 6 exploratory wells to explore for oil and gas as a first phase, and based on the results of drilling in this phase, the subsequent phases will be determined successively. . She stressed the importance of the marine exploration project as a national project that aims to enhance the State of Kuwait’s reserves of hydrocarbon resources, in addition to ensuring the sustainability of the availability of new hydrocarbon resources to meet global demand and raising Kuwait’s position as a reliable oil and gas producing country on the global level. She pointed out that the project places the State of Kuwait on the map of leading regional producers as a prominent marine operator in accordance with international standards and contributes to developing new technical skills in the fields of drilling and marine production, which opens broad horizons for creating new and diverse job opportunities for national cadres. She indicated that based on the results of the initial tests, a development plan will be drawn up to begin actual production from the field as soon as possible, which will contribute to increasing the production capacity of the Kuwait Oil Company and laying another building block for achieving its strategy for the year 2040. (Kuwait Oil) confirmed that this discovery came as a result of cooperation and consensus in work between all sectors of the company on the one hand and continuous support from the management of the Kuwait Petroleum Corporation on the other hand, in addition to continuous cooperation between the company and all relevant government agencies, which paved the way for the success of the discovery of the Noukhatha offshore field and investment. The company engages in oil and gas exploration operations in the Kuwaiti offshore region. His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, may God protect and preserve him, was received at Seif Palace this morning, and in the presence of His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah, may God protect him. His Highness, may God protect him, received His Excellency the Minister of Finance, the Minister of State for Economic Affairs and Investment, the Acting Minister of Oil, Dr. Anwar Ali Al-Mudhaf, and the President. The CEO of the Kuwait Petroleum Corporation Sheikh Nawaf Saud Nasser Al-Sabah, the CEO of the Kuwait Oil Company Ahmed Jaber Al-Eidan, and the Executive Vice President of Exploration and Drilling at the Kuwait Oil Company Khaled Muhammad Al-Mulla.