Kuwait Petroleum Corporation Announces 3.2 Billion Barrel Oil Discovery in Al-Nokhatha Field

Jul 14, 2024, 01:57 PM

Kuwait Petroleum Corporation (KPC) announced on Sunday a significant oil discovery in the Al-Nokhatha field near Failaka island. The newly discovered oil reserves are estimated at 3.2 billion barrels, equivalent to Kuwait's total production over three years. KPC's CEO, Sheikh Nawaf Saud Nasir, highlighted the importance of this discovery, which includes significant amounts of light oil and gas in the offshore field. The Kuwait Oil Company views this discovery as a turning point in their operations, according to the Kuwait News Agency (KUNA).