Kuwait's offshore oil discovery in the Al-Noukhitha field adds 3.2 billion barrels of oil equivalent to its reserves, bolstering its position as a major oil producer.
One of the Middle East’s largest oil producers, Kuwait , announced on Sunday a “huge” discovery of oil and associated gas in an offshore field east of Failaka Island. Preliminary estimates have shown that reserves at the Al-Noukhitha offshore field could be about 3.2 billion barrels of oil equivalent of light oil and gas, Kuwait Petroleum Corporation said during a meeting with the Emir of Kuwait , Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah. Reserves could be 2.1 billion barrels of light oil and 5.
Kuwait plans to draw up plans to begin extracting resources from the field as soon as possible, the company said. Kuwait, which began exporting crude oil in 1946, currently produces around 2.4 million barrels per day bpd of crude, as it is capping output together with its partners in the OPEC deal—OPEC and a dozen non-OPEC producers led by Russia. Kuwait, a founding member of OPEC, is the cartel’s fifth-largest producer, behind Saudi Arabia, Iraq, Iran, and the United Arab Emirates UAE.
Oil Discovery Al-Noukhitha Field Offshore Reserves Light Oil Natural Gas OPEC+ Oil Production Energy Sector Kuwait Petroleum Corporation
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