Latest news with #KUFPEC
TimesLIVE
23-07-2025
- Business
- TimesLIVE
Kuwait, Shell to develop gas exploration at Egyptian field
A subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced on Tuesday a final investment decision with Shell Egypt to develop gas exploration at Egypt's Mina West field, the Kuwaiti state news agency reported. The field is located in the North East El-Amriya block in the Mediterranean Sea.
Zawya
23-07-2025
- Business
- Zawya
KUFPEC announces final investment decision with Shell Egypt to develop gas exploration at Mina West field
CAIRO: A subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced on Tuesday a final investment decision with Shell Egypt to develop gas exploration at Egypt's Mina West field, Kuwaiti state news agency reported. The field is located in the North East El-Amriya block in the Mediterranean Sea. (Reporting by Menna Alaa El-Din and Muhammed Al Gebaly; Editing by Chris Reese)
Zawya
15-05-2025
- Business
- Zawya
Indonesia approves Kuwaiti explorer to develop Anambas block in Natuna Sea
JAKARTA - The Kuwait Foreign Petroleum Exploration Company (KUFPEC) has secured approval for its development of the Anambas block in Indonesia, where it aims to acquire more projects, officials said on Thursday. KUFPEC will invest about $1.54 billion to develop the Anambas block to produce 55 million standard cubic feet a year with an estimated 185 billion cubic feet of total gas sales, upstream oil and gas regulator SKK Migas said. The company aims to reach a final investment decision early next year with production expected to start in 2028, country manager Sara Al-Baker told reporters. The company sees Indonesia as a strategic location for expansion, its chief executive, Eisa Al-Maraghi, said. "We are working with other partners in Indonesia to reach a mutual agreement to look into more assets to be acquired," Al-Maraghi told a press conference, but declined to give details. The Anambas development includes installation of subsea pipelines connecting the field to existing facilities in the West Natuna Transportation System, KUFPEC said. It is expected to deliver gas to both domestic and regional markets when it begins production, the company added. Anamabas will be KUFPEC's second project in the gas-rich Natuna Sea. It has a 33% participating interest in Natuna Block A, which supplies gas to Singapore. The company, which has stepped up activities in Indonesia in recent years, is part of two separate consortia that signed contracts last year to explore Indonesia's Melati and Amanah blocks. Elsewhere in the Natuna Sea, KUFPEC has completed its joint-study on Natuna D-Alpha block and is reviewing the result of the study, Al-Baker said. Natuna D-Alpha has one of world's biggest gas resources in the world, but has high carbon dioxide (CO2) content. Once a member of OPEC, Indonesia is now a net importer of oil due to ageing wells and lack of investment, and President Prabowo Subianto is keen to reverse the trend and reduce reliance on imported energy.
Reuters
15-05-2025
- Business
- Reuters
Indonesia approves Kuwaiti explorer to develop Anambas block in Natuna Sea
JAKARTA, May 15 (Reuters) - The Kuwait Foreign Petroleum Exploration Company (KUFPEC) has secured approval for its development of the Anambas block in Indonesia, where it aims to acquire more projects, officials said on Thursday. KUFPEC will invest about $1.54 billion to develop the Anambas block to produce 55 million standard cubic feet a year with an estimated 185 billion cubic feet of total gas sales, upstream oil and gas regulator SKK Migas said. The company aims to reach a final investment decision early next year with production expected to start in 2028, country manager Sara Al-Baker told reporters. The company sees Indonesia as a strategic location for expansion, its chief executive, Eisa Al-Maraghi, said. "We are working with other partners in Indonesia to reach a mutual agreement to look into more assets to be acquired," Al-Maraghi told a press conference, but declined to give details. The Anambas development includes installation of subsea pipelines connecting the field to existing facilities in the West Natuna Transportation System, KUFPEC said. It is expected to deliver gas to both domestic and regional markets when it begins production, the company added. Anamabas will be KUFPEC's second project in the gas-rich Natuna Sea. It has a 33% participating interest in Natuna Block A, which supplies gas to Singapore. The company, which has stepped up activities in Indonesia in recent years, is part of two separate consortia that signed contracts last year to explore Indonesia's Melati and Amanah blocks. Elsewhere in the Natuna Sea, KUFPEC has completed its joint-study on Natuna D-Alpha block and is reviewing the result of the study, Al-Baker said. Natuna D-Alpha has one of world's biggest gas resources in the world, but has high carbon dioxide (CO2) content. Once a member of OPEC, Indonesia is now a net importer of oil due to ageing wells and lack of investment, and President Prabowo Subianto is keen to reverse the trend and reduce reliance on imported energy.
