
Kuwait has uncovered a new oil reserve in the Al-Julaiah offshore field within its territorial waters. The discovery, estimated at around 950 million barrels of oil equivalent, is set to strengthen the nation’s standing as one of the world’s leading crude oil producers and exporters.
The CEO of Kuwait Petroleum Corporation, Sheikh Nawaf Saud Al-Sabah, confirmed that exploration activities are actively ongoing in Kuwait. He emphasized the potential for discovering new fields and the promising opportunities available to further expand the country’s oil reserves.
Al-Sabah stated in an interview with Al-Qabas that Kuwait’s new oil exploration operations have achieved a remarkable success rate of 100%, significantly surpassing the global average of 20%. He highlighted the substantial advancements made in exploration by the Kuwait Oil Company in recent years, noting the numerous achievements in this area.
Furthermore, Al-Sabah announced that a development plan will be implemented to begin production from the newly discovered field at the earliest opportunity. This initiative aims to boost the country’s production capacity and align with the goals set in the 2040 strategy.
Al-Sabah expressed his gratitude to the political leadership for its strong support and provision of all necessary resources to develop the oil sector, ensuring its progress and strengthening Kuwait’s standing on both regional and international levels.
Importantly, Al-Sabah expressed his pride and gratitude for the Kuwaiti workforce in the oil sector, highlighting their proven efficiency, dedication, and tireless efforts in contributing to the state’s public interest.
Commercial Quantities
The Kuwait Oil Company announced today, Monday, the discovery of significant commercial quantities of hydrocarbon resources in the Julaiah offshore field, located within Kuwaiti territorial waters.
The company stated that these discoveries are part of its ongoing exploration efforts to bolster Kuwait’s position as a leading oil and gas producer in the region and to support the exploration strategy for the country’s marine area.
The tests conducted on the Zubair geological reservoir (from the Cretaceous period) in the exploratory well (Julaiah 2) yielded promising production results. The field spans an area of 74 square kilometers, with reserves estimated at around 800 million barrels of medium-density oil, free of hydrogen sulphide and containing a low percentage of carbon dioxide. Additionally, the field holds 600 billion standard cubic feet of associated gas, equivalent to 950 million barrels of oil equivalent.
Exploration Plans
The oil company explained that this discovery is a significant addition to Kuwait’s hydrocarbon resources and boosts the potential for additional reservoirs in the Upper Cretaceous period within the marine area and surrounding regions. This reinforces the success of Kuwait Oil Company’s marine exploration strategy. The Julaiah field marks the second marine field discovered under the current exploration plan, following the discovery of the Al-Nukhadha marine field in July 2024.
Kuwait Oil Company reaffirmed its commitment to sustainable exploration in the marine area, highlighting that preparations are underway for the second phase of the exploration, drilling, and production plan in Kuwaiti territorial waters. The company also noted that a three-dimensional exploratory survey project is being implemented, covering more than 6,000 square kilometers of the marine area.
This data provides high precision, aiding in decision-making for further exploration and identification of reservoirs, ultimately leading to production in the Kuwaiti marine area. Also, this discovery is a significant strategic step and a crucial milestone in supporting the company’s long-term goals and boosting production capacity to meet the objectives of the 2040 strategy.
The company expressed its gratitude for the ongoing support from the political leadership and senior management of Kuwait Petroleum Corporation, while also acknowledging the efforts of the dedicated national teams whose contributions were instrumental in achieving this promising discovery.
Increase Oil Reserves
The discovery marks a significant step in enhancing Kuwait’s focus on offshore exploration, aligning with the country’s efforts to boost production capabilities and address the rising domestic energy demand.
Offshore fields play a crucial role in expanding Kuwait’s oil and gas reserves, reinforcing its goal of increasing production to 4 million barrels per day by 2040.