It is with the utmost honor I welcome you to Kuwait Foreign Petroleum Exploration Company (KUFPEC) website. KUFPEC this year celebrated its 30th Anniversary on a very successful and optimistic note. Since its establishment in April 1981 as the international upstream arm subsidiary for its parent company Kuwait Petroleum Corporation (KPC), KUFPEC today has interests in more than 15 countries and 4 continents world-wide while successfully and rapidly growing with a clear vision and a focused target. I am happy to say that KUFPEC was able to reach its 2010 production strategy of 80,000 BOEPD with a net profit of US$ 143 million and over US$ 1 billion in revenues for 2010. Additionally I can confidently state that KUFPEC is heading and will reach with flying colors its 2020 strategy of 200,000 BOEPD, reaching 10% of daily production under KUFPEC operatorship of its international upstream assets by 2020 and 20% by 2030; in addition to accomplishing a net reserve base of 650 mmboe sustainable until 2030. Investments that facilitates technology and capability transfer between domestic and international upstream business is a significant factor and preference for KUFPEC strategic target that we will actively and aggressively pursue here at KUFPEC.

The values our company stands by are excellence, flexibility, partnership, motivation, integrity, unified identity and a commitment to HSSE and society. It is no wonder that the KUFPEC team holds such values with pride and acts on them with professionalism resulting as a driving force behind our company’s success. I would like to take this opportunity to express my most sincere gratitude to every KUFPEC team member for their productive role that lead to our overall objectives, the support and guidance of our board members assisting KUFPEC to reach its strategic role, and above all my appreciation goes out to the Minister of Oil and KPC Chairman H.E. Hani A. Hussain and KPC Chief Executive Officer Mr. Farouq Al-Zanki for their endless support leading to an even greater success for our company. Furthermore, KUFPEC takes pride of its partnerships with distinguished International oil companies and host governments as it strives to expand with its current portfolio, acquire new assets and seek prospective opportunities in the global upstream sector. Since this has been a year for celebration, it is with immense patriotic pride that I offer the warmest congratulations to His Highness the Amir, Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah and their highnesses the Crown Prince, Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah and the Prime Minister, Sheikh Jaber Al-Mubarak Al-Sabah on the occasion of our beloved country celebrating its fiftieth Independence anniversary, twentieth anniversary for liberation and fifth anniversary for the Amir’s ascension to power. In conclusion I would like to reassure you that we at KUFPEC will reach new heights, set higher standards and achieve well beyond our strategic target in a record time due to our determination, spirit and most of all our healthy and competitive team, quoting Dr. Napoleon Hill “Whatever the mind can conceive and believe, the mind can achieve”. I hope you enjoy our company website.

Nizar M. Al-Adsani
Chairman and Managing Director