Commodity News
SunSirs: Kuwait Announces Discovery of Massive Offshore Oil and Gas Reserves
July 23 2024 16:19:54 SunSirs (Selena)
Kuwait National Crude Oil Company (KOC) recently announced the discovery of an oil and gas field located at a depth of over 15,000 feet in the Al Nukhadha sea area east of Faraka Island. The oil and gas reserves are enormous, with preliminary estimates of approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of natural gas, or 3.2 billion barrels of oil equivalent.
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