Chairman’s Message

It gives me great pleasure and a sense of pride to be appointed Chairman and Managing Director of KUFPEC.

The Company’s balance sheet demonstrates how successful we are and how far we have come: even as I write, KUFPEC is currently active in 15 countries and three continents, producing revenues in excess of USD 710 million, with net average daily production reaching 70,000 BOEPD.  In short, the Company has achieved global respect as a prominent international upstream oil and gas company.

In an increasingly competitive industry, however, the Company must and will respond with a broader vision to obtain sustainable growth.  The Company is undertaking a robust initiative to transform KUFPEC into a more dynamic organization.  We are charting the Company’s evolutionary course to continuous profitability by adopting more aggressive acquisitions strategies and optimizing partnerships and alliances to increase both its reserves and production portfolio.

In addition, KUFPEC is fully aware of the vital role that our employees contribute to the Company’s success.  Dependence on commodity prices alone will not progress us into future sustainable profitability.  The scale of the growth base and expansion of opportunities the Company pursues necessarily requires the skills and dedication of its employees, which is why the Company is innovating initiatives for long-term stability and retention of employees at all levels. 

I am confident that our current successes will continue and that our future objectives will be achieved through the efforts of our employees, the support of our parent corporation KPC, our valued partners and by the blessings of Almighty God.