KUFPEC/IEOC In Offshore E&P Agreement With Egypt
Kuwait Foreign Petroleum Exploration Company (KUFPEC) and Eni subsidiary International Egyptian Oil Company (IEOC) have signed an E&P agreement with the Egyptian Natural Gas Holding Company (EGAS). KUFPEC and IEOC will carry out exploration work in the Tina area in the Mediterranean offshore. The joint venture is committed to spending $21.5mn in an eight-year period. Egyptian Oil Minister Samih Fahmy said...