Kuwait announces massive oil discovery in Al-Nokhatha field

Kuwait Petroleum Corporation (KPC) announced on Sunday a "giant" oil discovery in the Al-Nokhatha field, located east of the Kuwaiti island of Failaka. The newly discovered oil reserves are estimated at 3.2 billion barrels.

KPC's CEO Sheikh Nawaf Saud Nasir Al-Sabah revealed in a video posted by the company on X that the reserves from this new discovery are equivalent to the country's entire oil production over three years.

The initial estimated area of the new oil well is approximately 96 square kilometres, according to KPC's statement.

Preliminary estimates indicate that the hydrocarbon reserves at the well include approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, corresponding to 3.2 billion barrels of oil equivalent.