Kuwait Oil Company to invest 1.2 billion dinars in exploration drilling by 2030
Among the company’s key initiatives is the establishment of the Ahmadi Oil Technology Valley, a 275,000-square-meter research complex that will host world-class centers specializing in reservoir management, digital transformation, and sustainability. The facility will also provide technical consultation in exploration, development, and production.
Kuwait Oil Company’s Deputy CEO for Exploration and Drilling, Khaled Al-Mulla, said the company plans to invest 1.2 billion dinars in its exploration drilling program through 2030, which includes the drilling of 79 onshore and offshore wells.
Speaking to Reuters, Al-Mulla explained that this investment is part of a broader 9.8-billion-dinar budget allocated for drilling and well maintenance projects — the largest in the company’s history. The plan targets the drilling of up to 6,193 wells by the end of the decade.
He emphasized that the company is relying on human capital and cutting-edge technologies, including artificial intelligence applications, to enhance oil and gas production from deep and complex reservoirs.
This aligns with Kuwait Oil Company’s long-term strategy to reach 3.65 million barrels of oil and 1.5 billion cubic feet of gas per day by 2035, maintaining these output levels until 2040.
Al-Mulla noted that many Kuwaiti oil fields have been producing since the 1930s, leading to natural production declines and rising water levels. “This requires more precise reservoir management and exploration of deeper layers, such as the Triassic and Paleozoic formations,” he said.
He added that technological advancements have made it feasible to economically develop unconventional reservoirs, citing the Mutriba field in northwest Kuwait, which began production in 2025 — decades after its discovery.
Among the company’s key initiatives is the establishment of the Ahmadi Oil Technology Valley, a 275,000-square-meter research complex that will host world-class centers specializing in reservoir management, digital transformation, and sustainability. The facility will also provide technical consultation in exploration, development, and production.
Kuwait Oil Company has also launched several AI-based projects, including the “Sanad” smart assistant for drilling teams and a predictive maintenance program designed to anticipate equipment malfunctions before they occur.
Since July 2024, the company has announced three major offshore oil and gas discoveries, part of a strategic effort to boost national production. The latest, the Jazza field, was unveiled on October 13, with an expected output exceeding 29 million cubic feet of gas per day and 5,000 barrels of condensates.
Earlier discoveries include the Al-Julaia offshore field, with estimated reserves of 800 million barrels of oil and 600 billion cubic feet of gas, and the Al-Nokhatha field, discovered in 2024 east of Failaka Island, with an estimated 3.2 billion barrels of oil equivalent.
Al-Mulla highlighted that Kuwait Oil Company achieved a 100% success rate in its first offshore exploration phase with the Al-Nokhatha, Al-Julaia, and Jazza finds. The company now plans to drill 18 additional offshore wells under its second exploration phase.
Offshore production capacity is projected to reach 150,000 barrels per day as part of the company’s 2035 plan — a figure expected to increase further as exploration continues and new discoveries are brought online.
