Middle East Economic Survey

VOL. LIV

No 4

24-Jan-2011

KUWAIT

Kuwait Energy Takes Control Of Two Oil Fields In Western Russia

Kuwait Energy Company announced on 17 January that it had completed the acquisition of both Pechora Energy Company and OJSC VIK from UK-based Concorde Oil and Gas Ltd. This gives the Kuwaiti company 100% equity and operatorship of two Russian oil fields Luzskoye and Chikshina. Prior to the transaction, which had been in the works since December 2009, Kuwait Energy...