KUFPEC Inks Exploration Agreement for Pakistan's Paharpur Block

Kuwait Foreign Petroleum Exploration Company K.S.C. (KUFPEC) signed an exploration license and petroleum concession agreement with Pakistan, with the South Asian state awarding the Kuwaiti firm exploration rights in the Paharpur Block in the country, according to Kuwait News Agency Friday.

The deal was inked by KUFPEC CEO Sheikh Nawaf Saud Al-Nasser Al-Sabah and Pakistan's Secretary for Petroleum and Natural Resources Arshad Mirza in a signing ceremony in Islamabad witnessed by Pakistan Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi.

The Paharpur Block, located in the D.I. Khan District spread over an area of approximately 873 square miles (2,261 square kilometers), will be KUFPEC's second operated asset in Pakistan and its first in Khyber Pakhtunkhwa, company CEO Sheikh Nawaf said.

The Kuwaiti partners in the Paharpur Block are State Oil and Gas Company of Khyber Pakhtunkhwa and other national exploration and production companies of Pakistan, he added.

KUFPEC currently operates the Jati Exploration Block in Sindh, where drilling activities are expected to commence soon. The firm also has producing interests in Qadirpur, Zamzama, Kadanwari, Bhit, Badhra, Sukhpur and Zarghun Blocks, and is the third largest gas producer amongst foreign exploration and production companies operating in Pakistan.

KUFPEC has invested more than $1 billion in Pakistan since 1987 in "our efforts to make Pakistan a core business center for KUFPEC," Sheikh Nawaf said.

KUFPEC, a subsidiary of Kuwait Petroleum Corporation, is an international oil company engaged in the exploration, development and production of crude oil and natural gas outside Kuwait. It is currently active in 15 countries worldwide with 63 oil and gas projects across Asia, Africa, Australia, Europe and North America.


View Full Article


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Chee Yew Cheang
APAC Editor | Rigzone
 -  Malaysia's InvestKL Woos Top Oil, Gas ... (Oct 6)
 -  Petrobangla Invites EOIs for 3 Offshor... (Sep 30)
 -  Malaysia's SapuraKencana Posts 7.1% Ga... (Sep 29)
 -  TH Heavy Engineering, McDermott End Pa... (Sep 26)
 -  Singapore's NUS Slowly Builds its Petr... (Sep 26)

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
Executive Assistant
Expertise: Executive|Secretarial or Administrative
Location: United States
Regional Manager - Saybolt
Expertise: Executive|Operations Management
Location: Linden, NJ
search for more jobs

Brent Crude Oil : $51.38/BBL 2.44%
Light Crude Oil : $50.43/BBL 2.26%
Natural Gas : $3.14/MMBtu 0.94%
Updated in last 24 hours