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Kuwait discovers new oil-gas field

Kuwait discovers new oil-gas field
Kuwait discovers new oil-gas field

By Mohammad Al-Mola

KUWAIT, March 24 (KUNA) -- Kuwait announced on Thursday discovering a new oil-gas field in the west of the country saying it will be a significant boost to the national energy resources' reserves.

Kuwait Oil Company (KOC) said in a statement that the new crude field was discovered in Al-Jathatheel in western Kuwait, "forecast to be substantial add to the State's output productivity and reserves of light oil and gas." The KOC Chief Executive Officer Jamal Abdelaziz Jaafar told KUNA that preliminary scans of the underground strata determined that the field is of highly economic feasibility.
KOC teams are currently conducting main tests at the location to the northwest of Al-Manaqeesf field, predicting that the volumes of extracted crude oil and gas would double after finishing the tests.
The new discovery is forecast to "enrich the Kuwaiti oil reserves and enable the country pursue the crude oil production for decades to come," he said.
The company is steadily moving ahead toward accomplishing objectives of its 2030 strategy, intended to bolster Kuwait's international status as a major crude producer, in addition to securing and supporting domestic supplies of by-products. (end) mm.rk