Kuwait Oil Company (KOC) reported, Monday, the discovery of a new oil well in Kabd area, western Kuwait, with commercial-production quantities of both oil and gas.
KOC's Managing Director Hashim Sayed Hashim told KUNA the initial investigation indicates flow of good quantities of both oil and gas through the well, which is located north of Manaqeesh. He added an estimate of production capacity for this well would be announced soon.
Kuwait's current oil production capacity is about 3 million barrels per day, and Kuwait Petroleum Corporation aims to bring this up to about 4 million by 2020. KPC's strategic plans are drafted to accommodate this goal.
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