One of the smallest countries in the world has one of the largest treasures. Kuwait has just over 4 million inhabitants, but it has one of the largest oil reserves in the world thanks to two immense deposits on land. One of these large accumulations of crude oil is the second largest conventional crude oil field in the world (Burgan oilfield), only behind the Ghawar field in Saudi Arabia. Now, Kuwait is expanding its exploration (there is no more desert or land left to explore in its small territory) and is searching for crude oil in the sea with notable results. This week, the Kuwait Oil Company announced the discovery of an undersea oil field worth around 900 million barrels of oil.
The Kuwait Oil Company announced this week the discovery of a new and promising oil field in the Al-Julaiah marine fieldlocated in Kuwaiti territorial waters. As reported by the official KUNA news agency, this discovery, estimated at around 950 million barrels of oil equivalent, consolidates Kuwait’s position as one of the world leaders in the production and export of crude oil.
The results of tests carried out in the Zubair geological reservoir, through the Julaiah 2 exploratory well, revealed significant production capacity. This field, which extends over 74 square kilometers, houses reserves estimated at 800 million barrels of medium-density oil, free of hydrogen sulfide and with low levels of carbon dioxide, characteristics that underline its high quality and commercial attractiveness.
Oil under the sea
In addition to crude oil, the field contains 600 billion standard cubic feet of associated gas, bringing its total value to 950 million barrels of oil equivalent. According to KUNA, these figures reaffirm Kuwait’s commitment to the strategic exploration and sustainable management of its natural resources.
This discovery in Al-Julaiah is the second offshore field identified under the current national exploration plan, following the discovery of the Al-Nukhadha offshore field in July 2024. The Kuwait Oil Company highlighted that these advances not only strengthen the country’s energy capabilities , but also position Kuwait as a benchmark in the global oil industry, ensuring its relevance in international markets in the coming decades.
Kuwait’s efforts to find more crude oil are immense. The authorities know that the life left of oil as an ‘engine’ of global energy is not long and they want to exploit it to the maximum while it lasts. Kuwait has the seventh largest oil reserves in the worlda quantity of crude oil that could also be increased soon after a new discovery made a few months ago. Kuwait is located on top of the second largest oil field in the world (the operation of this immense field is discussed in depth below), an accumulation of crude oil that has made Kuwait one of the countries with the highest GDP per capita in the world.
Kuwait wants to produce more oil
But not content with that, Kuwait Petroleum Corporation continues to explore and invest to get the most out of each field and those yet to come. The objective is to go from 2.9 million barrels per day (Kuwait’s current production) to the 4 million it aims for in the coming years. In a recent interview, Sheikh Nawaf Al-Sabah, CEO of KPC. But not only that, the state oil company is working to increase its production by 50% in a few years. (KPC), pointed out that they intend to invest 30,000 million until 2035 to achieve these objectives. But not only that, the state oil company is working to increase its production by 50% in a few years.
A good example of these efforts is the recent discovery of a new high-quality light oil and gas field in the offshore Noukhada field, east of Failaka Island, in Kuwait’s economic waters. Although the first data were encouraging, the information provided was somewhat erratic. However, over the last few months, certain information has been revealed that completes the photograph of this new discovery. Thanks to this oil and discovered this week, Kuwait’s crude reserves will comfortably exceed 100 billion barrels of crude. Although Guyana holds the record for oil production per capita, Kuwait holds the record for oil under its soil (and now also under the sea) per inhabitant, with almost 24,000 barrels of crude oil for each person.
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