KUWAIT CITY, July 18: To expedite the extraction of oil and gas from newly discovered wells, including the latest “Nukhada-1” well announced by the Kuwait Oil Company, oil expert Kamel Al-Harami emphasized the urgent need for assistance from major international oil companies. He stated that these collaborations are essential to harness large quantities of oil and gas from Kuwait’s promising new oil discoveries, which are crucial for the country’s interests. In a statement to Al-Seyassah, Al-Harami highlighted that the new oil discoveries, especially the “Al-Nukhada 1” field, demand the expertise of international companies due to their significant proven reserves.

The daily production of this field is estimated at about 2,800 barrels of light oil and 7 million cubic meters of associated gas. Furthermore, hydrocarbon resources in the layer are estimated to contain approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas, equivalent to 3.2 billion barrels of oil equivalent. He noted that Kuwait’s current production rate is only 600,000 to 650,000 barrels per day. Therefore, implementing modern technological methods for oil extraction is vital to double these quantities. Al-Harami suggested that the ideal solution to strengthen the Kuwaiti oil sector is to allow international oil companies to operate in Kuwait in exchange for a share or fee. These companies have exceptional capabilities in extracting oil from challenging wells, which is often the most difficult part of the process.

He explained that relying on oil service companies and small private contractors is insufficient for revitalizing the Kuwaiti oil sector. These companies often secure tenders through the lowest price criteria and lack the capabilities and experience of major international firms that specialize in prospecting, exploration, and extraction of oil globally. Al-Harami stressed that to resolve the gas issue and eliminate the need for imports, Kuwait should seek assistance from these international companies. Their expertise and reputation could transform Kuwait from a gas-importing nation to an exporting one. He expressed surprise at Kuwait’s inability to produce large quantities of gas despite the oil sector’s enormous capabilities.

By Najeh Bilal Al-Seyassah/Arab Times Staff