KUFPEC, Pakistan Sign Exploration Concession Agreement

KUFPEC, Pakistan Sign Exploration Concession Agreement
KUWAIT – JANUARY 15: A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait. Kuwait produces 10% of the worlds oil and has promised to increase production as needed in the event of a war in Iraq. (Photo by Joe Raedle/Getty Images)

Kuwait Foreign Petroleum Exploration Company’s (KUFPEC) unit Kirthar Pakistan signed an exploration concession agreement for a block in Pakistan, Pipeline Oil and Gas Magazine reported.

Block No. 3371-19, Makhad, covers an area of around 1,560 square kilometers and is located in the Attock, Chakwal and Mianwali Districts of the Punjab Province and in the Kohat District of the Khyber Pakhtunkhwa Province.

The agreements were signed by Shaikh Nawaf Al-Sabah, KUFPEC’s CEO on behalf of KPBV with Mian Asad Hayaud Din of the Federal Secretary Petroleum Division in the presence of the Federal Minister of Petroleum of the Islamic Republic of Pakistan, Omer Ayub Khan.

“KUFPEC is proud of its strong strategic partnership with the Islamic Republic of Pakistan, which is reflected by our successful investments exceeding US$ 1 billion in Pakistan since 1987,” Shaikh Nawaf said.

KPBV plans to work closely with Pakistan’s national oil companies (NOCs) and the provincial holding company of Punjab in relation to KPBV’s operations in the Makhad Block.


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