Kuwaiti Oil Barrel Price101.45 Date:08-08-2022

News
& Events

Kuwaiti (KUFPEC) signs an exploration and production agreement with the Egyptian Natural Gas Holding Company.

05-01-2021

The Kuwait Foreign Petroleum Exploration Company (KUFPEC) has announced, the signing of an exploration and production agreement with the Egyptian Natural Gas Holding Company at the (Rasknays) marine sector, which is located in the Herodotus Basin in the Mediterranean Sea. The (KUFPEC) stated to the Kuwait News Agency (KUNA) on Tuesday, shared this agreement that amounted to 25 percent, also it was a partnership with 35 percent of the (Total operater), (Shell) of 30 percent and 10 percent of the Egyptian National Oil Company. It was clear, that the sector has extended over a vast about 4.550 square kilometers, far away from shore about 5-15 km ranges of water between 50 and 3,200 meters in depth. Also, noting the commit of work in this sector includes a 3D seismic surveys, during the first three years that were implemented. Although, this agreement comes within the KUFPEC’s strategy framework, to enhance activities and the culmination of the recent exploratory success has achieved by the company in the GNN4 well, exploration in the Gulf of Suez and West Tawila concession last June. A statement was quoted by the CEO of (KUFPEC), Shiekh Nawaf Saud Al-Nassar Al-Sabah said that, to enter this sector expresses the company’s commitment is to participate in exploring the activities, to enhance the current position as well as in the Arab Republic of Egypt Investments. Sheikh Nawaf Al-Saud has confirmed, the KUFPEC’s entry accompanies this sector with its strategy by adding more to the Kuwait Petroleum Exploration Company (KUFPEC), is one of the affiliated companies of Kuwait Petroleum Corporation. As it conducts the production and exploration of oil and gas outside of Kuwait

Ministry
of Oil Tender
Announcement

Ministry of Oil Building - Oil Sector - Third Floor
Finance Department

Announcement of Exercise No.1/2022-2023

Oil Ministry Announcement of Exercise No. 2023/1-2023 The Ministry of Oil announces the offering of an internal practice for a period of 3 years, which is: Internet service provision This is in accordance with the general and specific conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from (Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department) during official working hours starting from Sunday 26/6/2022 AD, for an amount The amount of 75 Kuwaiti Dinars (seventy-five Kuwaiti Dinars) is not refundable, and the deadline for submitting bids is on Thursday 7/7/2022 AD at 2:00 pm, in the Practices Fund of the Ministry of Oil, and the bids are valid for a period of 90 days as of From the date of opening the bid envelopes, the value of the initial guarantee for this bid is 2%, and it should be valid for the duration of the bid Bid validity period, noting that the exercise is indivisible.

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