Kuwait’s KUFPEC Signs Petroleum Concession Agreement in Pakistan
Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced Wednesday that its subsidiary, Kirthar Pakistan, has signed an exploration license and petroleum concession agreement in Makhad sector (3371-19) in Pakistan, covering an area of 1,560 square kilometers.
Speaking to the Kuwait news agency (KUNA), KUFPEC CEO Sheikh Nawaf Saud Al-Nasser Al-Sabah said the concession is located in Mianwali District northwest of Punjab province of Pakistan, and Khyber Pakhtunkhwa Province.
He hailed strong relations between KUFPEC and Pakistan, which were crystallized by its successful investments of over USD one billion since 1987.
Established in April 1981 by its parent company Kuwait Petroleum Corporation (KPC), KUFPEC is an
international upstream company, engaged in exploration, development and production of crude oil and
natural gas outside Kuwait.