KOC CEO: Marine region promising sector of hydrocarbon resources

CEO of Kuwait Oil Company (KOC) Ahmad Al-Eidan said that the marine region in Kuwait was a promising sector based on conducted studies and geological and geophysical data found. Speaking to KUNA, Al-Eidan explained that exploratory marine project used two-dimensional seismic surveying, to examine earth layers, its composition, identify best location for drilling, and prepare for logistic operations. This current phase of the project includes drilling six exploratory fields to find oil and gas reservoirs, expounded Al-Eidan, stating that subsequent phases will be determined by findings of this current one. He underscored the importance of the offshore exploration project as a national endeavor with the goal of enhancing sustainability of Kuwait's hydrocarbon reserves and meeting global demand. This would elevate Kuwait's status as a reliable global oil and gas producer, and place it prominently on the regional map of leading offshore operators. Additionally, the project contributes to developing new techn ical skills in drilling and offshore production, creating varied employment opportunities for national talents, he pointed out. Last July KOC had announced discovering massive reservoirs of oil and gas in Noukhtha field in Failkah Island's economic waters, marking a turning point in its operations A developmental plan will be put in place based on current findings to begin official production as soon as possible. The plan aims to augment Kuwait's production capabilities and take it a step closer to achieving 2040 strategy. This project is the culmination of cohesive collaboration across KOC sectors, continuous support from Kuwait Petroleum Corporation's (KPC) management, and ongoing cooperation with all relevant government entities, paving the way for the successful exploration and investment in oil and gas drilling operations in the area, commented Al-Eidan. Source : Kuwait News Agency