Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Kuwait Energy (KEC), which despite its name is a privately-owned firm with key assets in Egypt and Iraq, this week confirmed talks to merge with London-listed SOCO International, with main assets in Vietnam and Angola.
A deal would give KEC access to public financing after a flopped attempt to raise $150mn through a London IPO last year.
KEC’s Faihaa field on Iraq’s block 9 is highly promising, with plenty of upside to current 15,000 b/d output (10,600 b/d net for KEC’s 60% share). KEC plans to double output to 30,000 b/d (20,000 b/d net) this year and 250,000 b/d output by 2025.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE