She said,KufbakIn a statement, the acquisition was made in cooperation with PT Pertamina Hulu Energi and Sinope on the Melati block, which is the largest block in the first bidding round, and is located in the border region of Sulawesi.
It is expected to contain large reserves of Oil And gas.
She stressed the importance of this strategic success in enhancing KUFPEC’s leading position in the field of hydrocarbon exploration in promising basins and increasing the chances of success of exploration efforts and their impact on the development of hydrocarbon industries.
She explained that in addition, and in cooperation with PT Medco Energi Lingga and Tele Raya, KUFPEC acquired the Amanah Block in South Sumatra, noting that this block represents another important achievement in its role in developing KUFPEC’s current portfolio in the region and its presence in the Indonesian energy sector.
The statement quoted the CEO of KUFPEC, Mohammed Al-Haimer, as saying that these new acquisitions confirm the company’s commitment to expanding its exploration and production activities in Indonesia In line with the strategic growth plans set for Southeast Asia.
Kuwait Foreign Petroleum Exploration Company is a subsidiary of Kuwait Petroleum Corporation and carries out oil and natural gas exploration and production operations outside the State of Kuwait.
