Kuwait City: Kuwait’s Minister of Oil and Power has announced the discovery of new oil fields, as well as the expansion of old oil fields.
According to Kuwaiti media, Minister of Oil, Power and Water Dr. Muhammad Al-Faris made the discovery of 2 new oil fields in Jurassic Layers of different regions of the country through Kuwait Oil Company as well as large Barqan field as part of field development operations. Has also announced an expansion in the northern part of the country.
The minister said the first discovery was made in Huma Field, in northwestern Kuwait, which was recently surveyed using a three-dimensional technique.
After drilling, it was found that the area of this field is spread over 70 square kilometers with a production capacity of 1452 barrels of light oil per day.
He said the discovery was of great economic significance as it pointed to the large areas in the western and northwestern parts of Kuwait that had the potential to store and produce oil in accordance with the Kuwait Oil Company’s 2,040 strategic plan. Contribute directly to capacity building.
According to the Kuwaiti minister, the two new discoveries have increased the strategic importance of the northern part of the country because these areas had not been discovered before.
He said that conventional oil has also been discovered in the North Warah, Maudood and Barqan deposits of Badi Barqan field as oil was flowing in commercial quantities from several wells dug in 2020 to determine the daily limit of the field. It had a production rate of over 2,000 barrels, which paved the way for the addition of more reserves.
The Minister said that the results provide easy and low cost access to Kuwait Oil Company which supports the company’s efforts to maintain its competitive advantage between countries and oil companies, which shows that The company will drill new wells in the discovered field to increase production.
Al-Faris praised the success of the Kuwait Oil Company in achieving these three discoveries in 2020, noting the flexibility and clear commitment of the Kuwait Oil Company in its exploration and development work to ensure a bright future for Kuwait. He also stressed on the potential of the oil sector in the latest scenario.