Unit of Kuwait's KUFPEC signs agreement for Pakistan's Makhad block
The company says it will work closely with Pakistan's national oil companies in its work to acquire seismic data and drill an exploration well in the block
Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced that its subsidiary Kirthar Pakistan, signed an exploration licensing agreement for Makhad block in Pakistan.
The Makhad Block covers an area of approximately 1,560 square kilometers and is located in the Attock, Chakwal and Mianwali Districts of the Punjab Province and in the Kohat District of the Khyber Pakhtunkhwa Province.
“KUFPEC is proud of its strong strategic partnership with the Islamic Republic of Pakistan, which is reflected by
our successful investments exceeding $1bn in Pakistan since 1987,” said KUFPEC CEO Shaikh Nawaf Saud Nasir Al-Sabah. He noted that Makhad would be the third asset operation by a KUFPEC subsidiary in Pakistan, and the first in the Punjab province.
Kirthar Pakistan plans to work with Pakistan's national oil companies as well as the provincial holding company of Punjab in relation to its operations in Makhad block. The scope of work includes acquiring seismic data and drilling an exploration well.
KUFPEC is a subsidiary of Kuwait Petroleum Corporation.