11/11/2024
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11/11/2024
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KUWAIT CITY, Nov 11: Kuwait Foreign Petroleum Exploration Company (KUFPEC) will expand its foreign oil projects, especially in Indonesia, as it seeks to seize many bids in the oil and gas exploration areas offered by Indonesia from 2024 to 2029 -- more than 50 land and sea areas. Sources said KUFPEC previously announced that through its administrative experience and application of the directives of Kuwait Petroleum Corporation (KPC), it acquired two main sectors within the offering rounds for the year 2024 in Indonesia.
Sources confirmed that KUFPEC, under the guidance of KPC, intends to acquire many sectors which will be offered in 2025; considering that based on its experience, there are gas and oil in the reservoirs of the areas to be offered through direct assignment or tenders. Sources said KUFPEC is working hard to seize opportunities in the upcoming Indonesian oil bidding rounds to enhance its presence in Pakistan, in line with its plan to increase the volume of its investments in Southeast Asian countries in general.
Sources affirmed the success of its arm in Jakarta in an important marine discovery of gas and condensates in the Anambas Marine sector, attributing this success to the fact that KUFPEC owns drilling platforms and modern technology for exploration in the fields of oil and gas, which enabled it to discover gas in deep part of Natuna Sea in Indonesia. Sources added the company will expand its foreign oil projects in most of the countries where it operates, in addition to renewing contracts that are nearing completion in existing projects.
By Najeh Bilal Al-Seyassah/Arab Times Staff
