May 22, 2019 / 2:23 PM / 9 months ago

Kuwait's KUFPEC signs oil concession agreement in Pakistan

KUWAIT (Reuters) - State-run Kuwait Foreign Petroleum Exploration Company (KUFPEC) said on Wednesday its Pakistan unit has secured a concession for the Makhad oil block in Punjab province.

KUFPEC said in a statement that it had signed a concession agreement with the Pakistani authorities on behalf of its subsidiary Kirthar Pakistan (KPBV).

“At this stage, KPBV anticipates acquiring seismic data and drilling one exploration well,” it said.

KUFPEC is the international oil and natural gas exploration and production unit of Kuwait Petroleum Corporation.

Reporting by Maher Chmaytelli; Editing by Susan Fenton

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