KUFPEC signs petroleum concession agreement in Pakistan.

Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced on Wednesday that its subsidiary, Kirthar Pakistan, has signed an exploration license and petroleum concession agreement in Makhad sector (3371-19) in Pakistan, covering an area of 1,560 square kilometers.

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Speaking to KUNA, KUFPEC CEO Sheikh Nawaf Saud Al-Nasser Al Sabah said the concession is located in Mianwali District northwest of Punjab province of Pakistan, and Khyber Pakhtunkhwa Province.

He hailed strong relations between KUFPEC and Pakistan, which crystallized by its successful investments of over $1 billion since 1987.

Established in April 1981 by its parent company Kuwait Petroleum Corporation (KPC), KUFPEC is an international upstream company, engaged in exploration, development and production of crude oil and natural gas outside the State of Kuwait.