Three new offshore oil discoveries mark a global milestone for Kuwait
CEO of Kuwait Petroleum Corporation (KPC) Sheikh Nawaf Al-Saud announced that the successful completion of work on three new offshore oil discoveries represents an unprecedented global achievement for Kuwait. He revealed that three additional wells are now in the technical evaluation phase and will be announced once assessments are complete.
Speaking after the corporation’s celebration of the Excellence Award, Al-Saud said the newly discovered wells — Al-Nukhatha, Al-Jali’a, and Jaza — form an integrated system of highly promising offshore reservoirs. While it is still too early to disclose production volumes or reserve estimates, he stressed that initial indicators point to a strong future for Kuwait’s offshore exploration efforts, reports Al-Rai daily.
Al-Saud noted that the oil sector is entering a transformative phase defined by new discoveries, institutional development, and the empowerment of national talent. He emphasized that KPC is moving forward on a clear strategic path designed to deliver significant economic and long-term returns for the country.
“Our ultimate mission is to maximize the value of Kuwait’s natural resources,” he said, stressing that human capital remains the sector’s greatest asset. “Our people are the most important factor in the continued success of KPC and its subsidiaries.”
Al-Saud highlighted that recent job announcements attracted a surge of applicants, reflecting rising interest among young Kuwaitis in joining the sector. He reaffirmed that vacancies are announced periodically based on operational needs and encouraged youth to continue excelling academically and professionally to compete for opportunities that will expand as projects and mergers progress.
Regarding the ongoing consolidation of Kuwait’s oil companies, Al-Saud confirmed that work is advancing according to a comprehensive, step-by-step plan. He stressed that the merger process remains unaffected by external changes and that 2026 will witness major strides in this direction.
Key milestones accomplished or nearing completion include:
- Transfer of the gas plant from Kuwait Oil Tanker Company to Kuwait National Petroleum Company — already completed.
- Re-registration of Global Petroleum within Kuwait, with its new articles of association finalized as a Kuwaiti company.
- Near-finalization of transferring Gulf Oil Company to operate as a subsidiary of Kuwait Oil Company.
- The most complex stage — merging KIPIC with the Kuwait National Petroleum Company, a step requiring approvals from banks and financial institutions.
These integrations aim to enhance efficiency, streamline operations, and strengthen Kuwait’s energy sector amid expanding strategic projects.
