Kuwait discovered three new oil and gas fields including one next to the giant Burgan field, the country’s oil minister said.
State oil firm Kuwait Oil Company (KOC) discovered the new fields in different parts of the country, which will boost the country's oil reserves and production capacity, the minister of oil, electricity and water Mohammad Al Faris said in a statement to the Kuwait News Agency on Monday evening.
The first discovery is in the north-west part of the country with a production capacity of 1,452 barrels per day of light oil, while the second is in Al Qashaniya in northern Kuwait with a production capacity of 1,819 bpd of light oil and associated gas.
“This discovery has great economic importance as it sheds light on large undiscovered areas in the western and north-western parts of Kuwait, which will contribute directly to increasing oil reserves and the production capacity according to KOC’s 2040 strategic plan,” Mr Al Faris, said.
Kuwait is currently Opec's fourth-largest producer and the two new discoveries in the northern part of Kuwait are deemed to be of strategic importance as this area has not been explored before, according to the minister.
A conventional oilfield was also discovered to the north of the Burgan field in south-west Kuwait, which has a daily production rate of more than 2,000 barrels from several wells drilled in 2020.
“The results give KOC access to easy and low-cost reserves, which supports the company’s efforts to maintain its competitive advantage between countries and oil companies,” the minister said.
The company will drill new wells in the discovered fields to increase production, he added.
Kuwait, like other Opec members, is currently curtailing its oil production to ensure a better balance between oil supply and demand. The country’s oil production reached 2.291million barrels per day in November, according to Opec’s monthly oil market report based on secondary sources.
Kuwait had 101.5 billion barrels in proven oil reserves at the end of 2019, which account for 5.9 per cent of the world's total, according to BP's 2020 Statistical Review of World Energy.
Other GCC countries including the UAE and Saudi Arabia also announced new oil and gas discoveries recently.
Saudi Arabia, the world's largest exporter of crude, last month discovered four new oil and gas fields in different locations, the kingdom's minister of energy Prince Abdulaziz bin Salman said.
In February, the UAE discovered 80 trillion cubic feet of shallow gas reserves in an area straddling the emirates of Abu Dhabi and Dubai, the biggest find in 15 years.
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Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
Mohammed bin Zayed Majlis
