KOC discovers oil reserves east of Kuwait’s Failaka Island
Kuwait Oil Company (KOC) has announced the discovery of commercial quantities of light oil and associated gas in the offshore Al-Nokhatha field, located east of Kuwait’s Failaka Island. The initial estimated area of the field is approximately 96 sq km.
Preliminary estimates suggest the hydrocarbon reserves at this well to be about 2.1 billion barrels of light oil and 5.1 trillion standard cu ft of gas, equal to approximately 3.2 bboe. The daily production from Al-Nokhatha well is around 2,800 barrels of light oil and 7 million cu m of associated gas, KOC explained.
The launch of the current marine exploration project was based on 2D seismic surveys of the area, along with geophysical and geological studies to understand the earth’s layers and compositions, identify and secure the best drilling sites, and prepare for logistical operations, KOC mentioned.
KOC revealed that the marine area, representing about one-third of Kuwait’s total land area and covering more than 6,000 sq km, in the first phase includes drilling six exploratory wells for oil and gas, with subsequent stages to be determined based on the drilling results.
