Mubasher: Kuwait Foreign Petroleum Exploration Company’s (KUFPEC) total production reached 123,000 barrels of oil equivalent per day (boed) after the full operation of the Wheatstone liquefied natural gas (LNG) project in Australia, the company’s acting CEO said.
KUFPEC’s output from the Wheatstone LNG project reached 40,000 boed, Nawaf Al Sabah told Al Seyassah newspaper.
The CEO further noted that KUFPEC is the second largest investor in the Wheatstone project with a 13.4% stake after US oil giant Chevron.
It is worth noting that Chevron is the operator of Wheatstone LNG project.
As for the firm’s investment plans, Nawaf stated that KUFPEC seeks to operate Anambas project in Indonesia over the coming period.
KUFPEC resumed operation in Indonesia after exiting from some blocks proved uneconomic.
In Norway's project, KUFPEC’s output is estimated at 30,000 bpd, along with owning two investments in Egypt.
Furthermore, KUFPEC has a stake of 10,000 boed in a shale oil and gas joint venture (JV) in Canada.
