Kuwait City (Agencies): The Kuwait Oil Company announced the discovery of a new oil reserve in the Al-Julaiah offshore field within its territorial waters yesterday. The discovery, estimated at around 950 million barrels of oil equivalent, is set to strengthen the nation’s standing as a global leader in crude oil production and exportation.
Tests conducted on the Zubair geological reservoir in the Julaiah 2 exploratory well 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 sulfide 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.
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.