According to the company’s official statement, a huge amount of oil and gas reserves were discovered in a field near Faylake Island. According to the initial assessments, the hydrocarbon reserves detected in the 96 square kilometer area contain approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of natural gas. This discovery is equivalent to 3.2 billion barrels of oil equivalent.
The discovered oil reserves correspond to 750 days of oil production of Kuwait, which produces approximately 2.8 million barrels of oil per day, according to OPEC data.
