Kuwait's oil company said they made a "giant oil discovery" east of Failaka Island. Its oil reserves are estimated at 3.2 billion barrels.
According to the CEO of the company, quoted by AFP, the deposits in this deposit are equal to the production of the country for three years.
Agency "Bloomberg" recently estimated that Kuwait has spent tens of billions of dollars in recent years upgrading and building new refineries.
His most significant investment is the construction of Al-Zour, one of the largest refineries in the world, designed to process 615,000 barrels of crude oil per day.
Kuwait's oil and gas sector accounts for nearly 60% of its GDP, as well as 95% of its export earnings.
Recently, Saudi Arabia also announced the discovery of new oil fields.