Kufpec Shells Out In Thai Expansion

Kuwaiti state Kufpec has been splashing out again on overseas acquisitions. An overarching strategy, other than ‘add barrels, any barrels’ remains hard to discern.

The Kufpec overseas upstream unit of Kuwait’s state petroleum firm KPC has bought assets from Anglo-Dutch major Shell and France’s Total that it says take its total equity oil and gas production to more than 100,000 barrels of oil equivalent per day (boe/d) for the first time.

While the acquisitions still leave Kufpec short of the target of 130,000 boe/d of net production that it set itself to achieve in 2015, they boost its chances of meeting its next five-yearly target of 200,000 boe/d of net production by 2020. (CONTINUED - 479 WORDS)

DATA INSIDE THIS ARTICLE

chart Kufpec Producton (‘000 Boe/D, Net)