Kuwait announced the discovery of a "giant" oil deposit with reserves estimated at 3.2 billion barrels.

The Kuwait Petroleum Corporation (KPC) said on Sunday it has discovered a "giant" oil field in the Al-Nokhatha field, east of the Kuwaiti island of Failaka, with oil reserves estimated at 3.2 billion barrels. The CEO of KPC, Sheikh Nawaf Saud Saud Nasir Al-Sabah Sheikh Nawaf Saud Nasir Al-Sabah, said in a video posted by the company on social media platform X that the reserves of the new discovery are equivalent to the country's entire production in three years.