Kuwait Oil Company discovers large oil, gas reserves in Al-Nakhadah offshore field
Date
7/15/2024 5:37:35 AM
(MENAFN) Kuwait Oil Company has announced a major breakthrough with the discovery of substantial commercial quantities of light oil and associated gas in the Al-Nukhdha offshore field, situated east of Failaka Island within Kuwaiti economic waters. According to a statement, initial assessments indicate that the field spans approximately 96 square kilometers, marking a significant milestone in the company's ongoing exploration endeavors in Kuwait's maritime zones.
The company reported that the (Nukhaza-1) well, located in the Manaqish geological layer, is currently yielding about 2,800 barrels of light oil per day along with 7 million cubic meters of associated gas. Initial estimates suggest the hydrocarbon resources within this layer amount to approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, equating to around 3.2 billion barrels of oil equivalent. These figures, while preliminary, highlight substantial potential for further enhancement and expansion of hydrocarbon resources across different layers and reservoirs within the newly discovered offshore field.
The exploration project's initiation followed comprehensive preparatory measures, including two-dimensional seismic surveys of Kuwait's maritime area, along with rigorous geophysical and geological studies. These efforts were crucial in identifying optimal drilling sites, ensuring logistical readiness, and securing the necessary operational framework for successful marine exploration activities.
The discovery in the Al-Nukhdha offshore field represents a pivotal development for Kuwait's energy sector, promising significant contributions to the nation's oil and gas reserves and positioning Kuwait Oil Company to further bolster its role in regional and global energy markets.
MENAFN15072024000045015682ID1108439327
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.