Kuwait announces oil, gas discovery
State-owned Kuwait Oil Company (KOC) announced on July 14 the discovery of light oil and associated gas in the Nokhatha offshore field, located east of Failaka Island in Kuwaiti economic waters.
The daily production from the Al-Nokhatha well is around 2,800 barrels of light oil and 7mn m3 of associated gas, according to a report by the Kuwait News Agency citing a statement by KOC. Preliminary estimates suggest the hydrocarbon reserves at this well to be about 2.1bn barrels of light oil and 5.1 trillion ft3 of gas, equivalent to approximately 3.2bn barrels of oil equivalent.
KOC revealed that the first exploration phase includes drilling six exploratory wells for oil and gas. Based on the results of this phase, subsequent phases will be determined accordingly.