Kuwait has found an estimated 35 trillion cubic feet of non-associated gas in two northern fields along with large amounts of condensates, the country's oil minister said on Monday.
Sheikh Ahmad al-Fahd al-Sabah told a news conference the gas was discovered in the fields of Um-Naga and Sabriya. "For the first time we have found gas in encouraging quantities."
Officials at the state upstream energy arm, Kuwait Oil Company (KOC), said the initial phases of actual production will start by the end of 2007 after completion of the necessary infrastructure.
"We can now say that Kuwait has enetred the gas sector as a gas producing nation," said Sheikh Ahmad, whose country is a key exporter of crude oil.
Opec-member Kuwait, which sits on about a tenth of the world's oil reserves, had held talks on buying gas from Iran and Qatar in recent years.
"This find makes us optimistic about the future of Kuwait in the gas sector," said the minister, adding that studies showed the fields have a 60-70 percent recovery factor.
Comments
Comments are closed.