The Kuwait Foreign Petroleum Exploration Company (Kufpec), a long-standing player in Pakistan’s energy market, has confirmed its participation in the upcoming offshore bidding round.
A high-level meeting took place between Federal Minister for Petroleum Ali Pervaiz Malik and Ali Taha Al-Temimi, Kufpec’s Country Manager and Chairman of the Pakistan Petroleum Exploration & Production Companies Association (PPEPCA).
The meeting centered on strengthening the collaboration between the government and Kufpec, particularly in advancing exploration activities and addressing challenges to further boost the country’s petroleum sector.
Minister Malik emphasised the government’s commitment to facilitating both local and foreign investment in the energy sector.
He highlighted ongoing reforms aimed at improving the regulatory environment and making the exploration and production (E&P) industry more efficient.
He reiterated that the government is actively working to foster a favorable environment for businesses in the sector.
Ali Taha Al-Temimi, representing Kufpec, acknowledged the government’s efforts and expressed the company’s interest in the offshore bidding round, calling it a significant opportunity.
He also provided an update on Kufpec’s ongoing activities in the country. The company, which has been operating in Pakistan since 1987, has invested a total of $1.5 billion in the country’s oil and gas sector.
Minister Malik welcomed Kufpec’s decision to participate in the bidding round, noting that it comes after a long period without such opportunities.
He underscored that offshore blocks being offered for exploration provide a prime opportunity for both local and international investors to contribute to the country’s energy security.
