Kuwait – Mubasher: Kuwait Foreign Petroleum Exploration Company (KUFPEC) on Monday posted launching production of its first investment in international liquefied natural gas (LNG), represented in the Wheatstone LNG Project in Australia.
“Exploration, development and acquisition success such as this affirms the role of KUFPEC in securing an international presence for Kuwait’s hydrocarbon industry, and in providing energy solutions and diversification for the State of Kuwait,” Essam Al-Marzouq, Kuwait’s oil and electricity and water minister, and chairman the Kuwait Petroleum Corporation’s (KPC) board said in a statement.
Moreover, KUFPEC CEO Nawaf Saud Nasir Al-Sabah commented: “This is a landmark moment for KUFPEC as we deliver on our strategy.”
“The Wheatstone Project will provide us large-scale, stable production and strong cash flows for the next two decades,” Al-Sabah noted.
KUFPEC was established by its parent company KPC in 1981 to manage business outside Kuwait.
