A week ago, Kuwait Oil Company (KOC) announced a significant discovery of light oil and associated gas in the offshore Al-Nokhatha field. KOC said that the field, located east of Kuwait’s Failaka Island, covers an estimated area of 96km² with preliminary estimates of the reserves at around 2.1bbbl of light oil and 5.1tcf of gas, or roughly 3.2 billion barrels of oil equivalent (boe). The Al-Nokhatha well is currently producing just 2,800 barrels of light oil and seven million cubic feet of associated gas daily. …
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