Kuwait has made three oil and gas discoveries, including one next to the giant Burgan field, the country’s biggest, potentially helping to boost the reserves of OPEC’s fourth largest producer, state-owned KUNA news agency reported Jan. 4, citing the oil minister.
State-owned Kuwait Oil Co. discovered the Homah oil field, located in the northwest and stretching over 70 sq km, with a flow rate of 1,452 b/d of light oil, Mohammed al-Fares said.
The discovery is significant because it sheds light on undiscovered areas in western and northwestern parts of Kuwait, he added.
The second discovery in al-Qashaniyah field, located in northern Kuwait and close to Rawdatain and al-Sabriya fields, produced 1,819 b/d of light oil with 49 API and 2.78 MMcf/d of associated gas.
Conventional oil was also discovered north of Burgan at a rate of 2,000 b/d from several wells drilled in 2020.
KOC plans to intensify its drilling activities in the discoveries to boost production, the minister said.
Kuwait produced 2.3 million b/d in November, slightly above is 2.297 million b/d OPEC+ quota, according to S&P Global Platts latest OPEC+ survey.
Kuwait had 101.5 billion barrels in proven oil reserves at the end of 2019, unchanged from 2018 and accounting for 5.9% of the world’s total, according to BP’s 2020 Statistical Review of World Energy.