Kuwait makes three new oil and gas discoveries

Kuwait discovered three new oil and gas fields, including one next to the giant Burgan field, the country's oil minister Mohammad Al Faris said, Report states, citing KUNA.

"State oil firm Kuwait Oil Company (KOC) discovered the new fields in different parts of the country, which will boost the country's oil reserves and production capacity," the minister added.

The first discovery is in the north-west part of the country with a production capacity of 1,452 barrels of light oil per day. The second is in Al Qashaniya in northern Kuwait with a production capacity of 1,819 BPD of light oil and associated gas.

A conventional oilfield was also discovered to the north of the Burgan field in south-west Kuwait, which has a daily production rate of more than 2,000 barrels from several wells drilled in 2020.

Kuwait had 101.5 billion barrels in proven oil reserves at the end of 2019, which account for 5.9 percent of the world's total, according to BP's 2020 Statistical Review of World Energy.