Kuwait Oil Company (KOC) announced the discovery of a new offshore natural gas field called “Jazza,” containing one trillion cubic feet of natural gas and 350 million barrels of oil equivalent. Initial tests indicate that the field’s production will exceed 29 million cubic feet per day of gas and 5,000 barrels per day of condensate.

The new “Jazza” offshore field is KOC’s third offshore discovery, following the “Nokhatha” and “Julaia” fields, as part of its offshore exploration drilling project launched last year.

Last January, the Kuwaiti company announced the discovery of significant commercial quantities of oil and gas in the Julaia offshore field, with estimated reserves of 800 million barrels of medium-density oil and 600 billion standard cubic feet of associated gas, equivalent to 950 million barrels of oil equivalent.

Official estimates also indicate that the Nokhatha offshore field holds reserves of approximately 2.1 billion barrels of light oil and 5.1 trillion standard cubic feet of gas.

Initial tests of the new field, spanning 40 square kilometers, have shown production exceeding 29 million cubic feet per day of gas and more than 5,000 barrels per day of condensate.

At the end of last year, Kuwait signed a new deal with Qatar to supply two million tons of liquefied natural gas annually for 15 years. This is the second such agreement, aimed at easing pressure on power plants.

It is worth noting that Kuwait, the fifth-largest oil producer in OPEC, suffers from a gas shortage to fuel its power plants. Therefore, it plans to increase oil and gas production through massive investments by 2035.