KUFPEC Looks to Increase Investments in Egypt

KUFPEC Looks to Increase Investments in Egypt

Minister of Petroleum and Mineral Resources Tarek El Molla has met with a delegation from Kuwait Foreign Petroleum Exploration Company (KUFPEC) to discuss its activities in El-Zeit Gulf and Ras Kanayis as well as increasing its investments in Egypt.

The Minister highlighted the importance of success achieved in the Geisum concession area, affirming that Egypt has great opportunities for increasing the production of petroleum resources from either new fields or brownfields.

He noted that the petroleum sector is working according to an obvious strategy to facilitate needed procedures to maximize exploration and production (E&P) activities. 

The minister praised KUFPEC’s efforts as an executive arm for the Kuwait Petroleum Corporation’s (KPC) activities abroad, as well as its keenness to increase its investments and activities in Egypt in light of the ties between the Egyptian and Kuwaiti sides. 

For his part, Tareq Ebrahim, KUFPEC’s Manager of the Euro-Africa Region, affirmed KUFPEC’s keenness for being a partner in the success stories of Egypt in various activities especially after its participation in doubling the production from Geisum from 9,000 to 18,000 barrels per day.


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