Kuwait Petroleum Corporation (KPC) announced on Sunday a “giant” oil discovery in the Al-Noukhitha offshore field, located east of Failaka Island, with reserves estimated at 3.2 billion barrels.
The estimated 3.2 billion barrels of oil equivalent could revolutionize Kuwait’s energy economy.
“Our executive management informed our Amir about the discovery of a large oil reserve in the Al-Noukhitha offshore field, located east of Failaka Island,” said the company in a statement posted in the social media X (former twitter).
It added that the estimated total hydrocarbon reserve of light oil and gas is reaching approximately 3.2 billion barrels of oil equivalent.
The news came to light as the chief executive of Kuwait Petroleum Corporation, Sheikh Nawaf Saud Al-Sabah, and the chief executive of Kuwait Oil Company, had a meeting with the Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, the Amir of Kuwait, Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, the Crown Prince, and Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, the Prime Minister.
