Kuwait Energy’s board members met in Egypt in October to visit their sites and discuss further investments in the region. Kuwait Energy’s board hosted a dinner at Marriot Zamalek, to highlight the accomplishments and future forecasts of the Company, and took the opportunity to network with industry professionals in Egypt. Kuwait Energy’s Executive Chairman Dr. Manssour Aboukhamseen, Ms. Sara Akbar –the Chief Executive Officer, Mr. Mohammad Alhowqal – Chief of Operations and Mr. Harry Saul – President, Kuwait Energy Egypt, were among the Company’s team that welcomed many renowned figures from Egypt’s energy sector to the event, headed by Egyptian Oil Minister Mr. Osama Kamal.
Dr. Manssour Aboukhamseen presented Kuwait Energy’s achievements and highlighted the company’s expansion plans in the region. He expressed his appreciation to Kuwait Energy’s team and their significant role in making Kuwait Energy one of the few independent oil and gas exploration and production companies in the region, with operations in eight countries.
CEO Ms. Sara Akbar expressed her pride in Kuwait Energy’s operations in Egypt and the progress that the company makes on a daily basis. Kuwait Energy’s operations in Egypt contribute the largest share to the company’s current total working interest production.
The Company operates three oil blocks in Egypt, Area A, Burg El Arab development lease and the Abu Sennan concession, and has interests in two other non-Company-operated blocks, namely the Mesaha concession and the Petroshahd Company (previously East Ras Qattara).
Kuwait Energy has been profitable since inception in 2005, and currently operates in Egypt, Iraq, Yemen, Oman, Ukraine, Latvia, Russia and Pakistan.Kuwait Energy’s working interest proven and probable reserves at year end 2011 were 235.3 million barrels of oil equivalent and its current production has reached approximately 17,970 barrels of oil equivalent per day.
By Jermeen El-Baroudy