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 KUFPEC 30%
KUFPEC continued its involvement in the implementation of the work plan of the Kaybob Duvernay gas shale Project in Canada. 29 wells were drilled during the year, 11 of which were tied-in to production facilities and currently producing. Total producing wells to date are 24 wells. Work is progressing to tie in the remaining wells. Net production from Kaybob field averaged 900 boepd during 2015
Alma and Galia (KUFPEC 35%)
The development drilling program and the facilities construction continued during the year. The Alma and Galia FPSO moved from her quay in Newcastle and was towed to its location in the North Sea during April 2015. Introduction of oil to the facilities was achieved in October 2015 while the commission process was progressing. The estimated recovered production during this phase averaged 1,589 boepd net to KUFPEC.
Cairngorm (KUFPEC 25%)
KUFPEC continued evaluations of the Cairngorm appraisal well results. The decision was made not to renew the License after its expiry at the end of the year and notifying the Authorities of the decision.
During 2015, KUFPEC continued running the activities pertinent to its assets in Gyda, Tambar East, Yme, Bream & Mackerel as highlighted below.
Gyda & Tambar East (PL19B) KUFPEC 5% & 0.8%
Gyda and Tambar fields continue to have low production levels. The average net production in 2015 was 148 boepd.
Yme (PL316 316B) KUFPEC 10%
JV partners are actively considering a re-assessment of the potential plans. Meanwhile as it was decided earlier the Facilities’ Removal and Decommissioning Planning activities are ongoing.
Bream (PL407) & Mackerel (PL406) KUFPEC 30%
Front End Engineering Design is progressing, encompassing the different scenarios for the development. Mackerel/Herring future decisions and plans are subject to further maturation of the discoveries..
During 2015 the production from both East Shabwa and Jannah fields was stopped due to the political and security situation. This in-country crisis also stopped executing the exploration plan of Al Barqa Block Seven.
East Shabwa Block Ten License has reached its end and expired by the year end. The required handover Agreement was signed between the Government and the JV partners.
East Shabwa Block Ten KUFPEC 14.2857 %
There was a negligible production from East Shabwa Field (Total 0.279 mmboe) during 2015 due to the degraded security situation in the country. The License expired at the end of the year and the field was handed over to the Government. The required agreement was formalized and executed by the Government and the JVPs.
Jannah Block Five KUFPEC 20%
There was a very small amount of production from the Jannah Field during 2015 (total output of 0.198 mmboe) due to the degraded security situation in the country. JV partners are liaising with the Authorities for the Force Majeure day’s declaration.
Al Barqa Block Seven KUFPEC 20.25%
Due to the degraded security situation in the country, no activities were performed in the block during the year. A sixth Extension was granted by the Authorities until June 2016.
Ras Kanayes, Western Desert, Onshore KUFPEC 36.36%
The implementation of the work program resulted in maintaining the average net production level at 1,638 boepd during the year.
North Bardawil, Nile Delta, Offshore KUFPEC 40%
During the year 2015, the Zaraf well continued producing under natural decline and averaged 173 boepd net to KUFPEC.
Geisum & Tawila West, Gulf of Suez, Offshore KUFPEC 40%
Average net production during 2015 was maintained at 1,603 boepd. Efforts continued to sustain the field production.
Chinguetti EEA KUFPEC 10.234%
The averaged net oil production in 2015 from the Chinguetti Oil Field was 455 boepd. The JV continued its efforts during the year to optimize the production and prolong the life of the field.
Block B KUFPEC 27.5%
KUFPEC has been a co-venture partner for more than two decades. JV partners continued negotiations during 2015 with the South Sudan Government to finalize terms of the PSA and resume operations..
Sidi El Kilani KUFPEC 22.5%
Net production for 2015 from the Sidi El-Kilani Field averaged 170 boepd. KUFPEC’s efforts with the JV partners were continued in 2015 toward optimizing the field development strategy for infill drilling by spudding the development well SLK14 before the end of the year.