Kuwait Oil Company discovers 800M barrels of oil and 600B cubic feet of gas at Al-Jlaiaa, boosting energy ambitions and plans for a 40% production capacity expansion.
Kuwait Oil Company (KOC) has discovered significant hydrocarbon reserves at the Al-Jlaiaa offshore field, with 800 million barrels of medium-density oil and 600 billion cubic feet of gas, according to Arabian Gulf Business Insight (AGBI).
This follows a July 2024 discovery at Al-Nokhatha field with 3.2 billion barrels of oil equivalent.
KOC is conducting a 6,000 sq km exploratory survey to locate more reserves. Kuwait, OPEC’s fifth-largest producer, aims to boost its current production capacity of 2.48 million barrels per day (bpd) to 4 million bpd by 2035. Despite global demand concerns, plans include a 40% capacity expansion, as stated by Khaled Al Sabah, CEO of Kuwait Oil Tanker Company.
Kuwait’s economy contracted 4% in Q3 2024 due to OPEC cuts and weak non-oil performance but is forecasted to recover in 2025, per the Kuwait Statistical Bureau.
A new study in mice suggests the brain’s protective barrier does more than block harmful substances. It also delivers essential proteins from...
Melting glaciers, recurring droughts and dust storms are putting growing pressure on Central Asia’s water resources, agriculture and public h...
Iran’s Assembly of Experts has backed withdrawing from the Nuclear Non-Proliferation Treaty (NPT) and overhauling the country’s defence...
European leaders gathered in Dublin on Thursday, 12 November, for the ninth European Political Community (EPC) summit, with security, defence and energy high on the agenda. Azerbaijani President Ilham Aliyev held talks focused on peace, trade and regional cooperation.
Iran will not let a single particle of its enriched nuclear material leave the country, and any new U.S. attack would be met with strikes on distant American bases, Iranian security chief Mohsen Rezaei has said.
Nvidia chief executive Jensen Huang is stepping down amid reports linking him to a woman suspected by U.S. authorities of spying for China, throwing the future of the $4 trillion chipmaker into uncertainty.
Kazakhstan’s security service has arrested Nurlan Zhakupov, CEO of Samruk-Kazyna, the country’s sovereign wealth fund, on suspicion of corruption. Yelzhas Otynshiyev, Chairman of KTZ, Kazakhstan’s national railway firm has also been detained.
Eight people have been killed and at least 17 injured after an apartment building collapsed into a neighbouring construction site in Brooklyn, New York, as rescuers continued searching the rubble for possible survivors.
Melting glaciers, recurring droughts and dust storms are putting growing pressure on Central Asia’s water resources, agriculture and public health.
Iran’s Assembly of Experts has backed withdrawing from the Nuclear Non-Proliferation Treaty (NPT) and overhauling the country’s defence doctrine, calling both steps essential to national security and deterrence.
Turkish President Recep Tayyip Erdoğan welcomed climate commitments from world leaders at COP31 on Thursday, as he held a series of high-level meetings covering regional security, trade and energy cooperation.
Iraq is exploring the possibility of importing natural gas from Azerbaijan through Türkiye as Baghdad looks for new ways to secure fuel for its power stations and reduce its dependence on external suppliers.
Kazakhstan-linked hackers stole thousands of national security documents from Tajikistan, a cybersecurity company has said.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment