Kuwait Oil Company anticipates concluding its inaugural offshore oil and gas exploratory and drilling initiatives by 2026, according to the firm’s chief geologist. The exact timeline remains contingent on the progress made during the sea-based operations, as explained by Ahmed Al-Otaibi during a briefing at Kuwait’s oil ministry.
Should the drilling operations prove successful, they hold the potential to usher in new production phases, potentially enhancing Kuwait’s oil and gas output.
This foray into offshore exploration aligns with Kuwait’s strategic investments aimed at meeting future oil demand. Notably, Kuwait Petroleum Corporation’s Chief Executive, Sheikh Nawaf Saud al-Sabah, disclosed in June of the preceding year that Kuwait received its first offshore rig in mid-2022. Kuwait Petroleum Corporation serves as Kuwait Oil Company’s parent organization.
These offshore operations span an area in Kuwaiti waters roughly equivalent to one-third of the country’s landmass. Initiated in the previous year, these endeavors are projected to span four years, as per Al-Otaibi. The company intends to drill six offshore wells within the exploratory region, encompassing a total area of 6,000 square kilometers.
