New oil discovery in Kuwait

Associated Press

Kuwait Oil Co. has discovered four new oil fields.

KUWAIT CITY (AP) — Kuwait's state news agency says the state-run Kuwait Oil Co. has discovered four new oil fields.

The Kuwait News Agency quoted KOC's CEO Hashim Hashim on Sunday as saying that the discovery of these fields will "fortify Kuwait's standing as an international producer of oil."

Hashim said that the discovery is the culmination of a two-year oil exploration mission. He noted that one of the reservoirs contains light crude oil, the first such reservoir in Kuwait.

He told KUNA that this will increase Kuwait's oil reserves and further strengthen its position among the world's top exporters of oil.

There was no information on the size of the fields in the north and west of the OPEC nation.

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