Kuwait reports new oil find of three years production
According to Kuwait Petroleum Corporation (KPC)'s statements, a large new oil- and gas discovery has been made in Kuwait. The reservoir is estimated to be equivalent to around 3.2 billion barrels or three Kuwaiti annual productions, the state-owned company announced.
In detail, it concerns approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas. The discovery is located in the Al-Nochatha Field, east of the Kuwaiti island Failaka in the Persian Gulf.
I've always enjoyed playing golf during my free time, but the news of the oil find in Kuwait has captured my interest recently. Using a high-powered scope, geologists have been examining the Al-Nochatha Field in detail to estimate its resources. With this new oil discovery, Kuwait's yearly oil productions are set to increase significantly, potentially affecting global oil markets in the Persian Gulf region.
