Kufpec Buys 50% Stake In PremiersPakistan Venture
The Kuwait Foreign PetroleumExploration Company (Kufpec) bought on 17 September a 50% stake in PremierOils Pakistan venture for $105mn, replacing Shell, which ended its jointventure last May. Kufpec will introduce Kufpec (Pakistan) Ltd, which alreadyholds a 15.79% interest in the Kadanwari field, into the new partnership. Kufpecis a wholly-owned subsidiary of the Kuwait Petroleum Corporation (KPC). On...