KUWAIT, Dec 22 (KUNA) -- Kuwait Oil Company (KOC) announced Tuesday discovery of light crude oil and gas field in the northwest of Kuwait.
KOC Chairman and Managing Director Sami Al-Rushaid, making the announcement during a ceremony marking KOC's 75th anniversary, said the field's primary production was estimated at 80,000 barrels per day (pbd) of light crude oil and 110 million cubic feet of gas per day.
This field, added Al-Rushaid, was in the area of Mutreba, northwest of Kuwait.
"This is the beginning, preparations are underway to drill for specific wells to test the promising layers in this field," said the KOC chairman.
Talking about oil industry in general, Al-Rushaid said 58 percent of oil wells have been developed bringing Kuwait's production to 3.15 million bpd.
KOC seeks to increase oil output to four million bpd by 2020 and to maintain this production until 2030.
KOC, he added, was also focusing on gas production, noting that free gas output stood at 140 million cubic feet per day and was projected to reach around a billion cubic feet by 2015. This quantity is to be added to the associated gas, currently producted at a capacity of billion cubic feet per day.
Kuwait is a member of the Organization of Petroleum Exporting Countries (OPEC). - Kuna