Kuwait Foreign Petroleum Exploration Co - Company Profile
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Kuwait Foreign Petroleum Exploration Co (KUFPEC), a subsidiary of Kuwait Petroleum Corporation (KPC), is an upstream oil and gas company, which carries out exploration, development and production of crude oil and natural gas. Its asset base consists of offshore and onshore exploration leases, oil and gas properties and appraisal and development, and oil and gas producing properties. The company participates in joint ventures with other energy companies both as an operator and partner. KUFPEC also focuses on maintaining the optimal ratio of oil and gas in the international upstream portfolio. The company has its operations across Asia, Oceania, Middle East, Africa, Europe and North America. KUFPEC is headquartered in Kuwait City, Kuwait.
Headquarters
Kuwait
Address
P.O. Box 5291, Administrative Shuwaikh – Area 4 – Street 102 - Building No. 9, Kuwait City, 13053
Website
www.kufpec.com
Telephone
965 2 1836000
Industry
Energy and Utilities
Revenue (2022)
$3.4B
Kuwait Foreign Petroleum Exploration Co premium industry data and analytics
Products and Services
| Products |
|---|
| Crude Oil |
| Natural Gas |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Contracts/Agreements | In November, the company signed a memorandum of understanding with companies operating in Pakistan to expand its exploration portfolio in Pakistan. |
| 2023 | Asset Disposal | In November, the company sold all of its Norwegian upstream assets to Orlen. |
| 2023 | Contracts/Agreements | In September, the company signed an agreement with BG International to acquire a 40% stake in Block 3 in the Egyptian Mediterranean Sea. |
Competitor Comparison
| Key Parameters | Kuwait Foreign Petroleum Exploration Co | Saudi Arabian Oil Co | QatarEnergy | Abu Dhabi National Energy Co | Kuwait Oil Co |
|---|---|---|---|---|---|
| Headquarters | Kuwait | Saudi Arabia | Qatar | United Arab Emirates | Kuwait |
| City | Kuwait City | Dhahran | Doha | Abu Dhabi | - |
| State/Province | - | - | - | Abu Dhabi | Al Ahmadi |
| No. of Employees | - | 70,496 | - | 1,119 | 11,713 |
| Entity Type | Private | Public | Government | Public | Private |
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Qasem A. Al-Majadi | Chairman | Executive Board | - | - |
| Mohammad S. Al-Haimer | Director; Chief Executive Officer | Executive Board | - | - |
| Mohammed R. Jasem | Deputy Chairman | Executive Board | - | - |
| Tareq Ebrahim | Manager- Euro-Africa Region | Senior Management | - | - |
| Bader Al-Matar | Manager- Asia Region | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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