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 14 countries spanning five continents: Australia, Asia, Africa, North America and Europe.
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Norway, UK, Yemen, Egypt, Mauritania, Tunisia, Canada
Continuous efforts were made during 2017 to enhance KUFPEC’s asset portfolio in EMEAR, including the acquisition of equity in producing, development and exploration assets in Norway.
KUFPEC succeeded in increasing its average net production from EMEAR despite the many obstacles faced during the year, notably the unstable security situation in Yemen in addition to hurdles encountered in the completion of UK Alma and Galia facilities.
KUFPEC’s production levels from EMEAR were substantially higher than those of the previous year with an average net production of 25,588 boepd in 2017 compared to 10,443 boepd in 2016.
Kaybob KUFPEC: 30%
KUFPEC continued its involvement in implementing the work plan of the Kaybob Duvernay gas shale project as per approved JV plans. In total, 115 wells have been spudded since KUFPEC farmed-in into this project, 83 wells of which were completed, and 79 wells were tied into production. The net production averaged 5,771 boepd during 2017. In 2019, the JV plans to execute the first development phase in the Waskahigan and East Kaybob areas which involves drilling more than 370 wells in 10 years.
KUFPEC approved several agreements to handle lateral transportation, liquid transportation, processing and fractionation of the NGL mix, furthermore building additional gas transportation capacity to meet demands.
Alma and Galia KUFPEC: 35%
Hydrocarbon production continued through the year but did not meet plans due to the failure of certain oil wells. KUFPEC’s net production averaged 2,009 boepd during the year.
At the end of 2016, a deal to acquire interests in several Central North Sea blocks in the Sleipner area was completed after receiving government approval. These assets are now an important part of KUFPEC’s portfolio.In 2017, KUFPEC continued running activities pertinent to its other Norwegian assets: Gyda, Tambar East, Yme. and PL850 (Barents Sea).
Gyda and Tambar East KUFPEC: 5% & 0.8%
The Gyda field continues to have low production levels while preparing for decommissioning. The net production averaged 58 boepd in 2017. Tambar continued producing low quantities in 2017.
Yme KUFPEC: 10%
The JVPs sanctioned the field development in 4Q 2017. The project is now moving into the execution phase with first oil planned for 2020.
Bream KUFPEC: 30%
The Bream (renamed Vette) license was relinquished in February 2017, after the expiry of the initial license period.
Gina Krog KUFPEC: 30%
Production began from the Gina Krog gas/oil field in June 2017. Development drilling is ongoing. Annualized net production since start up averaged 7,378 boepd to KUFPEC.
Sleipner East and West
KUFPEC: Sleipner East: 10% Sleipner West: 9.4112%
Sleipner East and West are two large gas/ condensate fields located in the Central North Sea and have been on-stream since 1993 and 1996, respectively. The processing facilities are used as hubs for the tie-in of other fields in the nearby area. A three well infill drilling campaign for Sleipner West began in Q3 2017. Net production averaged 8,215 boepd in 2017.
Utgard KUFPEC: 6.2%
Utgard is a gas and condensate field. Its development has been sanctioned, and the plan for development and operation
was approved by Norwegian authorities in 2017. Production is expected in 2020.
Eirin KUFPEC: 21.8%
Eirin is a gas and condensate discovery in the area near Sleipner and Gina Krog. Concept development studies have taken place during 2017 and work is continuing, with potential production start-up in 2021/2022 if the project is sanctioned.
PL813 KUFPEC: 30%
KUFPEC acquired a participating interest in PL813 license in the immediate area of Gina Krog. Subsurface work is ongoing.
PL850 KUFPEC: 20%
KUFPEC, in 2016, was awarded a participating interest in the PL850 exploration license in the Barents Sea. The block covers 1,028 km2 with a water depth of 300 meters. Exploration work obligations include 3D seismic acquisition (minimum of 1,000 km2), subsurface studies and prospect assessment. In 2016, a total of 1,529 km2 of 3D seismic data was acquired. Processing of the data is continuing with the final dataset expected early 2018.
Production from Jannah field did not resume due to the continuing unstable security situation.
Jannah Block 5 KUFPEC: 20%
There was no production from Jannah field during 2017 due to the degraded security situation in the country.The JVPs are liaising with the authorities for the required approvals of the duration of Force Majeure declared during the year.
Al-Barqa Block 7 KUFPEC: 20.25%
Due to the degraded security situation in the country that prevented the JVPs from executing any of the work commitments, no activities were performed in the block during the year. Authorities granted JVPs an eighth extension of two years duration ending in June 2019. KUFPEC’s interest is under the divestment process, awaiting Government approval for the sale of Block 7 to Petsec.
Ras Kanayes, Western Desert, Onshore KUFPEC: 36.36%
Efforts continued during the year to maintain the net production levels from Ras Kanayes at an average of 576 boepd. Studies were performed to assess the potentiality of the non-producing areas in the block for extension or drop decision.
North Bardawil, Nile Delta, Offshore KUFPEC: 40%
The Zaraf well continued producing under natural decline and averaged a net of 61 boepd to KUFPEC.
Current and expected future negative cash flows led to the JV decision to start the process of area relinquishment. The block was relinquished on 9 August 2017.
Geisum and Tawila West, Gulf of Suez, Offshore KUFPEC: 40%
The JVPs were granted approval of a 5-year extension to the agreement effective June 2017 to June 2022. Efforts continued to sustain field production by performing six workovers by completion and tie-in of drilled wells.
The net production averaged 1,079 bopd during 2017.
Chinguetti EEA KUFPEC: 10.234%
The JVPs continued their efforts to optimize production from the Chinguetti oil field. The average net production was 294 bopd in 2017. Preparations for abandoning and decommissioning
the field continued as field production ceased by end of December 2017.
Sidi El-Kilani KUFPEC: 22.5%
KUFPEC’s efforts with the JVPs in optimizing field development and production continued in 2017. Activities included five well interventions and workovers. The net production averaged 147 bopd during 2017.