KUWAIT: Tariq Ibrahim, Deputy CEO for Operations at Kuwait Foreign Petroleum Exploration Company (KUFPEC), said on Monday that the 4th Kuwait Exploration Forum serves as a strategic platform for enhancing energy security, promoting innovation, and fostering international partnerships. Speaking at the opening of the forum, which concludes tomorrow, Ibrahim emphasized that it reflects the Kuwait Petroleum Corporation’s (KPC) and its subsidiaries’ commitment to strengthening the country’s exploration capabilities.
He noted that KUFPEC’s hosting of the forum for the second time demonstrates its dedication to supporting national initiatives in Kuwait’s oil sector. “Over the years, the forum has become a key platform for dialogue, research, and discussion on exploration and production,” he said, highlighting that this year marks the first participation of major international energy companies, reinforcing Kuwait’s position on the global energy stage.
For the first time, the forum includes specialized panel discussions addressing critical topics such as exploration in border areas, field redevelopment, and the role of modern technologies, including artificial intelligence, in exploration operations. Ibrahim underlined that a major challenge remains in identifying new exploration sites to meet the anticipated rise in global demand, with OPEC forecasts projecting consumption to exceed 120 million barrels per day by 2040. He stressed the importance of sustained investment in exploration, production, and drilling to prevent supply gaps.
Mohammed Al-Abduljalil, Deputy CEO for Planning and Innovation at Kuwait Oil Company
In a related address, Mohammed Al-Abduljalil, Deputy CEO for Planning and Innovation at Kuwait Oil Company, highlighted Kuwait’s six-decade-long offshore exploration journey, which has achieved significant milestones and solidified the country’s position in hydrocarbon resource development. Al-Abduljalil noted that these discoveries form a cornerstone of Kuwait’s energy security. He cited the Al-Nokhatha field as the first major offshore success, with initial estimates of 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.
The subsequent discovery of the Julaia’a field demonstrated promising results, with the Zubair geological reservoir in the Julaia’a-2 exploratory well containing approximately 800 million barrels of medium-density oil and 600 billion standard cubic feet of associated gas, free of hydrogen sulfide and low in carbon dioxide.
He added that the Jaza gas field discovery marked another technical and environmental milestone, with initial tests from the Jaza-1 well producing over 29 million cubic feet per day of gas and more than 5,000 barrels per day of condensate, characterized by low carbon dioxide levels and the absence of hydrogen sulfide. “These achievements encourage us to advance confidently to the next phase of offshore exploration,” Al-Abduljalil said, noting that the company remains focused on the sustainable development of offshore resources in line with KPC’s 2040 strategy. — KUNA
