Established in April 1981 by its parent company Kuwait Petroleum Corporation (KPC), Kuwait Foreign Petroleum Exploration Company (KUFPEC) is an international upstream company, engaged in exploration, development and production of crude oil and natural gas outside the State of Kuwait
KUFPEC is active in 15 countries spanning five continents: Australia, Asia, Africa, North America and Europe.
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KUFPEC is currently active in 15 countries, in 3 core regions spanning over 5 continents.
KUFPEC’s EMEAR continued its responsibilities in implementation and follow-up of KUFPEC’s projects in Europe, Middle East, Africa and Canada.
The Region’s projects are in Norway, United Kingdom, Yemen, Egypt, Mauritania, Tunisia, South Sudan and Canada. KUFPEC’s current portfolio includes exploration, development and producing assets.
The highlight for 2015 was first oil achieved in the UK Alma and Galia project, while operations in Yemen were affected due to the adverse political and security situation. The average net production achieved within 2015 was 7,221 boepd compared to the average net production of the region for the year 2014 of 8,319 boepd.
As part of the efforts to enhance the portfolio, the decision was taken to hand over the Yemen Block 10 (East Shabwa) to the Government at the end of the License period and the relinquishment of the UK Cairngorm Project at the end of its current phase.
Canada’s Kaybob operations allow KUFPEC to enter into new areas of work and technology from Pad Drilling, multi-stage fracturing into the shale gas to produce rich condensates and gas.
Kaybob Duvernay - (KUFPEC: 30%)
KUFPEC continued its involvement in implementing the work plan of the Kaybob Duvernay gas shale project in Canada in line with the approved joint venture plans. Twenty-eight development wells were drilled, 36 wells were completed and 30 wells were tied in to production. The net production for 2016 averaged 3,848 boped.
Alma and Galia - (KUFPEC: 35%)
The activities comprised the drilling, completion and tie-in of one well. Hydrocarbon production continued during this year concurrently with the final stages related to the commissioning of the remaining Floating Production Storage and Offloading (FPSO) systems. KUFPEC’s net production during the year was 3,629 boepd.
Cairngorm - (KUFPEC: 25%)
The joint venture completed the abandonment of the drilled well and the license was surrendered to the authorities at the end of 2016.
Gyda and Tambar East (PL19B) - (KUFPEC: 5% & 0.8%)
The Gyda and Tambar fields continue to have low production levels. The average net production in 2016 was 74 boepd.
Yme (PL316/PL316B) - (KUFPEC: 10%)
The joint venture partners are actively considering a re-assessment of the potential plans. Meanwhile, the surface facilities removal was completed in August 2016.
Bream (PL407) and Mackerel (PL406) - (KUFPEC: 30%)
Bream (renamed Vette) license is scheduled to be relinquished upon the expiry of the initial period in first quarter 2017 and the Mackerel license lapsed with effect from third quarter 2016 as per the joint venture decision.
Gina Krog - (KUFPEC: 15%)
Gina Krog is a gas/oil field and production start-up is expected in second quarter 2017. The offshore facilities are in the late stages of commissioning, in preparation for start-up.
Sleipner East and West - (KUFPEC: 10% Sleipner East and 9.4112% Sleipner West)
Sleipner East and West are two large gas/condensate fields located in the central North Sea, on stream since 1993 and 1996 respectively. The processing facilities are used as hubs for tie-in of other fields in the near area. A two-well infill drilling campaign is planned on Sleipner West in 2017. The average net production during 2016 was 9,180 boepd.
Utgard - (KUFPEC: 6.2%)
Utgard is a gas and condensate field. The development has been sanctioned, and the plan for development and operation is expected to be approved by the Norwegian authorities in January 2017. Production is expected to start in 2020.
Eirin - (KUFPEC: 21.8%)
Eirin is a gas and condensate discovery in the near area Sleipner and Gina Krog. Concept development studies will take place in 2017. Production start-up is planned for 2021/2022.
PL 813 - (KUFPEC: 15%)
KUFPEC acquired a participating interest in the PL 813 exploration license, in the immediate area of Gina Krog. Subsurface appraisal work is planned for 2017.
PL 850 - (KUFPEC: 20%)
In February 2016, KUFPEC was awarded a participating interest in PL 850 exploration license in the Barents Sea. The block covers 1028 km² with water depth of 300 meters. Exploration work obligations are 3D seismic acquisition (minimum of 1000 km²), subsurface studies and prospect assessment. A total of 1529 km² of 3D seismic was acquired in August 2016 and the seismic data is expected to be fully processed by third quarter 2017.
Jannah Block 5 - (KUFPEC: 20%)
There was no production from Jannah field during 2016 due to the degraded security situation in the country. The joint venture partners are liaising with the authorities to agree the force majeure days.
Al Barqa Block 7 - (KUFPEC: 20.25%)
Due to the degraded security situation in the country, no activities were performed in the block during the year. The authorities granted a seventh extension until June 2017.
Ras Kanayes - (KUFPEC: 36.36%)
The production from the field, located onshore in the Western Desert, was maintained during the year at an average net production of 1,249 boepd.
North Bardawil - (KUFPEC: 40%)
During 2016, the Zaraf well, located offshore Nile Delta, continued producing under natural decline and averaged 173 boepd net to KUFPEC.
Geisum and Tawila West - (KUFPEC 40%)
Efforts continued to sustain field production located offshore Gulf of Suez. The net production during 2016 was 1,439 bopd.
Zone A - (KUFPEC 13.084%)
Zone A, the Banda area license, reverted back to the State. The joint venture is assessing the best scenario to perform the final abandonment of the drilled wells.
Chinguetti EEA - (KUFPEC 10.234%)
The joint venture continued its efforts during 2016 to optimize production from the Chinguetti oil field. The average net production in 2016 was 410 bopd.
Block B - (KUFPEC 27.5%)
During 2016 the joint venture partners continued the negotiations with the South Sudan government to finalize the terms of the Production Sharing Agreement (PSA) and commence operations.
Sidi El Kilani - (KUFPEC: 22.5%)
KUFPEC’s efforts with the joint venture partners continued in 2016 in optimizing the field development strategy and production. Net production for 2016 from the Sidi El-Kilani field was 165 bopd.