VOL. XLVI

No 43

27-October-2003

KUWAIT

KUFPEC Consortium Wins Approval For West Australia Development

A consortium in which the Kuwait Foreign Petroleum Exploration Company (KUFPEC) has a 33.4% equity stake has been given formal approval to develop the Mutineer and Exeter oilfields in the Carnarvon Basin offshore Western Australia. Initial production, scheduled for mid-2005, will be 70,000-80,000 b/d, rising gradually to 100,000 b/d. Total production for 2005 is forecast to be around 13.8mn...