Kuwait Oil Company (KOC) announced in a statement that it has discovered three oil and gas fields in the state of Kuwait.
Minister of Oil and Minister of Electricity and Water Mohammad Al-Fares announced that the discovery of two new oilfields of Kuwait Oil Company (KOC) in different regions of the country, in addition to the discovery of the extension of the northern part of the Great Burgan field, the country’s biggest, potentially helping to boost the reserves of OPEC’s fourth largest producer.
In a statement to KUNA, the Minister said the first discovery was in Houma field northwest of the country, with production capacity of 1,452 barrels per day (bpd) of light oil.
The second was in Al-Qashaniya in northern Kuwait, with production capacity of 1,819 bpd of light oil and 2.78 million cubic feet of associated gas per day.
A conventional oilfield was also discovered in the north of the Great Burgan field, as oil flowed in commercial quantities from several wells drilled during 2020 to determine the extent of the field, with a daily production rate of more than 2,000 barrels, Fares added.
The results give KOC access to easy and low-cost reserves, which supports the company’s efforts to maintain its competitive advantage between countries and oil companies, indicating that the company will drill new wells in the discovered fields to boost production, he said.
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