By Osama Jalal
KUWAIT, April 19 (KUNA) -- Kuwait Oil Company's (KOC) Chief Executive Officer Hashem Hashem Sunday announced discovery of four oil fields and two wells in the north and west of Kuwait, which would boost Kuwait's oil production.
The new discoveries came after exploration operations conducted by state-owned KOC over the past two years and announced today, Hashem said in a statement to KUNA.
KOC, he added, continued its operations despite declining oil prices last year.
These new discoveries are promising indications, said Hashem, and that "development process will take place now and production will start in a short period." Hashem, elaborating, said three fields were discovered north of Al-Manageesh field, west of Kuwait, and Al-Rawdhatain and Umm Neqa fields, north of Kuwait, containing high-quality light crude.
Initial examinations, he said, showed further capabilities to produce light crude and gas.
These discoveries, said Hashem would boost Kuwait's oil reserve and contribute to boosting long-term crude oil production to ultimately achieve the 2030 strategy. (end) osj.bs