KUFPEC, OGDCL forge partnership with MoU signing

ISLAMABAD: In a significant development, Kuwait Foreign Petroleum Exploration Company (KUFPEC) and Pakistani Oil and Gas Development Company (OGDCL) signed a MoU, marking a formal collaboration between both companies.

The MoU delineates a comprehensive framework for the joint evaluation of potential business opportunities in Pakistan and international upstream projects. This collaborative effort extends to participation in bid rounds, joint studies, the establishment of a shared pool of technical experts and specialists from both entities, active knowledge sharing, and the secondment of offices. This strategic agreement reflects a shared commitment to fostering mutual growth and expertise in the oil and gas sector.

The MoU also provides OGDCL with the opportunity to place its technical professionals on a reciprocal basis on secondment with KUFPEC, fostering capacity building and experience sharing.

A high-level delegation from the KUFPEC, led by Tareq M. Ebrahim (EVP – Operations), visited the OGDCL head office on Wednesday. The delegation included Ali Taha Al-Temimi (Country Head– KUFPEC, Pakistan), Bader Al-Matar (Manager Asia Region), Nawwaf AlSalem (Manager Exploration), Khaled Al-Athainah (Manager Exploration, Pakistan), and Abdul Ghafoor (Sr. Specialist Geologist Pakistan). The delegation met with Ahmed Hayat Lak, MD/CEO, and the senior management team of OGDCL.

It’s worth noting that KUFPEC is a Joint Venture Partner of OGDCL in the Qadirpur and Makhad blocks. Both entities have committed to forming dedicated working groups to diligently implement the objectives outlined in the MOU. The progress of this cooperation will be closely monitored on a quarterly basis by the leadership of both companies to ensure that it is meaningful and effective.

Following the recommendation of OGDCL’s MD/CEO, Tareq M. Ebrahim concurred to organize a workshop of technical experts focusing on production optimization. This initiative aims to leverage Kuwait’s significant progress in the field, offering Pakistan an opportunity to benefit from their expertise.

The delegation also took a tour of the OGDCL Seismic Data Processing Centre, acknowledging OGDCL’s prowess and leadership role in the upstream sector.

Tareq M. Ebrahim emphasized KUFPEC’s dedication to bolstering its presence in Pakistan by expanding its footprint in the Exploration and Production (E&P) sector, solidifying collaboration with OGDCL.