KOC to start production from four new oilfields

Two reservoirs for unconventional oil were also discovered

Kuwait's major producing field is Burgan- considered the world's second largest.
Kuwait's major producing field is Burgan- considered the world's second largest.

Kuwait Oil Company will start production from four newly discovered oilfields in the north and west of the country, the company's chief executive officer Hashem Hashem was quoted as saying on Sunday.

Hashem did not give production rates of the new oilfields, but said exploration activities have moved ahead with production due to start "briefly". 

He added that the new discoveries had been announced after two years of exploration activities had proved positive.

Two reservoirs for unconventional oil in the north of the country were also discovered, Hashem said.

The grades found in the fields were both light and heavy oil, with preliminary results showing "huge commercial volumes", accoridng to the CEO.

Hesham also said in February that Kuwait plans to boost its oil and gas drilling rigs by 50% by early 2016 and increase production capacity to 4mn barrels of oil per day by 2020 from its current 3mn bpd.

Most of the country's production is from Burgan, the world's second largest field, but it recently said it would invite international oil companies to bid for technical service agreements in its norther fields later this year as it looks to boost production.

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