Kuwait's KUFPEC highlights energy forum as launchpad towards safer future

KUWAIT, Dec 8 (KUNA) -- A Kuwait-hosted energy youth forum serves as a launchpad towards a safer and more secure future for the oil industry, the deputy chief executive of Kuwait Foreign Petroleum Exploration Company (KUFPEC) said on Monday. The two-day gathering is also a testament to national ambitions over bolstering Kuwait's oil exploration work, Tariq Ibrahim said in his speech to open the forum, underlining KUFPEC's firm backing of efforts aiming to keep growth in the oil industry on an upward trajectory.
On the growing significance of the energy youth forum, he said that the event has transformed into a "strategic point" for constructive discussions over oil production and exploration, citing this year's edition as having featured international participation for the first time.
He went on to say that the forum encompasses a series of discussions about a slew of pressing matters, including the use of emerging technologies such as artificial intelligence tools to push forward exploration operations, at a time where identifying new locations for such work remains a "challenge," added the official.
Addressing the gathering, Kuwait Oil Company's (KOC) deputy chief executive for planning and innovation Mohammad Al-Abduljaleel said that offshore oil exploration work has made palpable progress over the years, leading to the rapid development of national hydrocarbon resources.
On such accomplishments, he cited the discovery of Kuwait's Nokatha oil field as chief among them, with preliminary estimates showing that it is expected to churn out some 2.1 billion barrels of light crude and 5.1 trillion cubic feet of gas, which is equivalent to 3.2 billion barrels of oil, he said.
Theseaccomplishments help boost morale and confidence as KOC looks to journey into the "next phase" of offshore oil exploration work, in line with its long-term strategies and goals, added the official. (end) km.nam