VOL. XXX

NO. 26

6-April-1987

KUWAIT

KUFPEC Seeks to Cut Exploration Losses

The Kuwait Foreign Petroleum Exploration Company (KUFPEC), a wholly-ownedsubsidiary of the Kuwait Petroleum Corpora- tion, will this year try to obtainconcessions with proved oil reserves in an attempt to cut its losses and reducethe high cost of exploration in new acreage, according to a statement by Mr.Mahmud al-Rahmani, KUFPEC's Board Member for Planning Affairs, to the KuwaitNews Agency (KUNA). Press reports assert...