KUWAIT CITY, Aug 14: The Kuwait Oil Company (KOC) has announced the commencement of its marine exploration project, aimed at enhancing the country’s hydrocarbon reserves and ensuring the sustainability of oil and gas resources.

The project, led by CEO Ahmed Al-Eidan, will involve drilling six exploratory wells in Kuwait’s marine area, which spans over 6,000 square kilometers, representing a significant portion of the country’s total land area. The following are the project details: Seismic Surveys and Drilling -- The initial phase includes drilling exploratory wells based on two-dimensional seismic surveys to identify optimal offshore drilling sites. According to the opinions of the experts, the success of the initial drilling will determine the next phases of the project. Dr. Abdul Samie Behbehani criticized the prolonged drilling time of 700 days and suggested the need for faster operations. He emphasized the potential of the Noukhatha field, which contains significant gas and light oil reserves. Behbehani also highlighted the inefficiencies in the oil sector’s investment and operations, urging the adoption of modern technology and expertise.

Kamel Al-Harami stressed the importance of involving international oil companies with advanced technology to expedite production processes. He pointed out challenges such as declining production rates and the need for a specialized offshore oil company in Kuwait. Harami noted that current oil reserves do not align with production demands, affecting local refinery operations. Dr. Khaled Boodai highlighted the importance of the Noukhatha field in enhancing Kuwait’s oil reserves and meeting future market needs. He also emphasized the need to expand renewable energy use to reduce emissions and energy costs, and the potential of hydrogen energy as a future energy source.

Dr. Abdul Mohsen Al-Mutairi emphasized that the exploration strengthens Kuwait’s position as a major oil producer and has geopolitical implications. He called for a multi-faceted approach to exploration that includes sustainable practices, advanced technologies, and global partnerships to maximize benefits and minimize environmental impact. The following are the key takeaways:

Economic and Strategic Impact -- The exploration project is crucial for boosting Kuwait’s hydrocarbon reserves and maintaining its position in the global energy market.

Need for Modernization -- There is a call for modernization in drilling operations, investment practices, and technology adoption to improve efficiency and reduce costs.

Sustainability and Future Technologies -- Emphasis on integrating renewable energy and hydrogen technologies to complement traditional hydrocarbon resources and address environmental concerns.