Mari Petroleum, KUFPEC sign MoU

KARACHI: Mari Petroleum Company Limited (MPCL) and Kuwait Foreign Petroleum Exploration Company (KUFPEC) on Tuesday announced a strategic cooperation initiative for evaluating future potential business opportunities in local and international upstream exploration and production.

The MoU for strategic cooperation was signed by Ayyad M E A AlKandari, vice president operations, KUFPEC, and Lt Gen Ishfaq Nadeem Ahmad (Retd), MD / CEO of MPCL.

The strategic cooperation between the two oil and gas exploration companies envisages exploring business opportunities in upstream exploration and production projects within and outside Pakistan, including farm-in opportunities in each other’s blocks and KUFPEC’s overseas assets.

MPCL is one of the major petroleum exploration companies of Pakistan E&P and presently the second largest gas producer of the country.

KUFPEC is an international upstream company, engaged in exploration, development and production of crude oil and natural gas outside the State of Kuwait.