Kuwait announced the discovery of three new oil fields, the official Kuwait News Agency (KUNA) reported on Monday.
In a statement, the country’s oil minister Mohammad Al-Faris said the discovery is of “great economic importance, as it sheds light on the large undiscovered areas in the western and northwestern part of Kuwait, which contribute directly to increasing oil reserves and production capacity according to Kuwait Oil Company’s (KOC) 2040 strategic plan.”
The first discovery is located in the northwest of the country, the second in Al-Qashaniya in north Kuwait, and the third is an extension of the northern part of the Great Burgan field, which is one of the biggest oil fields in the world.
Great Burgan ranks second after Ghawar in neighboring Saudi Arabia but is widely regarded as the world's largest onshore sandstone oil reservoir. The field currently accounts for over 50% of the country's output.
Data from the Organization of the Petroleum Exporting Countries (OPEC) reveals that member country Kuwait has proven crude oil reserves of 101.5 billion barrels, equating to 9% of the world's reserves.
By Sibel Morrow
Anadolu Agency
energy@aa.com.tr