Kuwait Oil Company (KOC) announced on January 21, 2025 that it had discovered a large amount of commercially producible hydrocarbon resources in the Al-Julaia offshore oil field located in Kuwait’s territorial waters. The details are as follows:

Reserves: Tests of the Zubair geological reservoir (Cretaceous period) in the field's exploration well (Al-Julaia 2) have shown good production results. The Al-Julaia field covers an area of 74 square kilometers and is estimated to contain about 800 million barrels of medium-density oil, free of hydrogen sulfide gas and low in carbon dioxide, in addition to 600 billion standard cubic feet of associated gas, equivalent to 950 million barrels of oil equivalent.

Energy reserves: This discovery has greatly enriched Kuwait's energy reserves. It is the second offshore oil field discovered in the current exploration plan after the discovery of the Nokhitha offshore oil field in July 2024, bringing new opportunities to Kuwait's energy industry.

Energy market: It may enable Kuwait to achieve a leap in energy export capacity in the next few years, which has attracted widespread attention in the global energy market and alleviated the market's concerns about tight energy supply to a certain extent.

National development: It will help Kuwait improve its production capacity to meet the country's growing energy demand, support its plan to increase production to 4 million barrels per day by 2040, and provide strong support for reducing Kuwait's dependence on a single oil economy.

Subsequent plan: Kuwait Petroleum Corporation has reiterated its commitment to sustainable exploration in offshore areas. It is currently preparing to start the second phase of exploration, drilling and production plans from the offshore area of Kuwait, and is implementing a three-dimensional exploration survey project covering the entire marine area.

From:

https://egyptoil-gas.com/news