1 May 2007 - 11:24
  • News Code: 103574

Kuwait has made an "important" light oil and gas find in the al-Dhabi region in the north of the country. Preliminary analysis indicated there is a large quantity of light crude and large amounts of associated gas, Kuwait"s oil minister Sheikh Ali Al-Jarrah Al-Sabah said in a statement.

He did not give an estimate of the size of the field. Preliminary tests from the Dhabi II well gave a flow rate of 10 million cubic feet per day of gas and 3,761 barrels of oil per day, the statement said.

 

The oil is light, with an API gravity of 40 degrees. Light oil is prized by refiners as it yields more high value product such as gasoline. The oil find is just south of the Raudhatain oilfield, he said.

 

The find increases the possibility of more discoveries in the al-Layah area nearby, where the country plans to carry out more exploration work soon, he said. OPEC member Kuwait holds about a tenth of the world"s oil reserves and is the world"s seventh-largest oil exporter.

 

In March 2006, Kuwait announced two large oil and gas finds in the north of the country, including an estimated 35 trillion cubic feet of gas.

 

PIN/ REUTERS

News Code 103574

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