Arab Today, arab today kufpec focused on strategic longterm projects
Last Updated : GMT 14:41:56
Arab Today, arab today
Arab Today, arab today

KUFPEC focused on strategic long-term projects

Arab Today, arab today

Arab Today, arab today KUFPEC focused on strategic long-term projects

Kuwait - KUNA

Kuwait Foreign Petroleum Exploration Co. (KUFPEC) is currently focusing on strategically long-term projects involving production and excavation, CEO Sheikh Nawaf Saud Al-Sabah said on Tuesday. KUFPEC is not focusing on small projects that result in marginal returns "like a 1,000 or 5,000 barrels per day" but exceed this to "significant production with the probability of large future excavation prospects," he told reporters. There is a strategic link between the company and Kuwait Petroleum Corporation (KPC) amid their focus on investment in projects that allow a space for the production and excavation of oil and gas and the acceptance of new technologies for Kuwait, he added. "Our goal is not only production," Sheikh Nawaf said, speaking at the fringes of the 2014 Kuwait Oil and Gas Summit, which is gathering leaders from the Kuwait and international oil and gas sector over two days. KUFPEC managed to acquire two stakes of Royal Dutch Shell in Western Australia which allow the state company to benefit from large quantities of liquefied natural gas (LNG) for domestic needs of electricity, he said. Sheikh Nawaf was talking about KUFPEC's purchase of the Shell-owned assets in late January, worth USD 1.135 billion, for an eight percent interest in the Wheatstone-Iago joint venture and 6.4 percent in the Wheatstone liquefied natural gas (LNG) project in Western Australia. On projects KUFPEC is currently pursuing, he noted to "an increase of production from 80,000 to 100,000 barrels per day by the end of the year, through large steps we are undertaking," adding that the move is being fully backed by KPC. He went on to highlight what he viewed was the main challenge of the lack of expert manpower, noting that the company is working on increasing the number of local engineers, providing them with jobs inside and outside of Kuwait.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kufpec focused on strategic longterm projects Arab Today, arab today kufpec focused on strategic longterm projects

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kufpec focused on strategic longterm projects Arab Today, arab today kufpec focused on strategic longterm projects

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 05:52 2017 Wednesday ,28 June

Suzanne Tamim’s father refuses to give comment

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday