Kuwait’s recently-appointed oil minister Muhammad al-Faris this week announced three new oil discoveries made in 2020. Mr Faris said that two of the discoveries are of light oil and gas in northern Kuwait, while the third is an extension of the northern section of the emirate’s supergiant Burgan oil field.
The discoveries are welcome news for state upstream firm Kuwait Oil Company (KOC) which fell a long way short of its 2020 production capacity plans, even after they were revised down sharply to 3.10mn b/d (MEES, 20 November 2020). The announcement is also vindication of KOC’s latest 3D seismic surveys which contributed to the discoveries (MEES, 4 December 2020). (CONTINUED - 542 WORDS)