Kuwait Petroleum Corporation (KPC) has made a “giant” oil discovery in the Al-Nokhatha field east of the Kuwaiti island of Failaka.
The oil reserves found are estimated to amount to 3.2 billion barrels, equivalent to the country’s entire production in three years. The initial estimated area of the oil well is said to be around 96 square kilometres.
KPC’s CEO, Sheikh Nawaf Saud Nasir Al-Sabah, made the announcement in a video posted to the company’s X profile (the platform formerly known as Twitter).
KPC 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.
