Mari Petroleum Company Limited (MPCL) and Kuwait Foreign Petroleum Exploration Company (KUFPEC) Tuesday announced a strategic cooperation initiative for evaluating future potential business opportunities in local and international upstream exploration and production. The MoU for strategic cooperation was signed by Ayyad M.E.A AlKandari, Vice President Operations, KUFPEC and Lieutenant General Ishfaq Nadeem Ahmad (retd.), MD/CEO MPCL, at MPCL Head Office, Islamabad.
The strategic cooperation between the two oil and gas exploration companies envisages exploring business opportunities in upstream exploration and production projects within and outside Pakistan including farm-in opportunities in each other's blocks and KUFPEC's overseas assets. MPCL is one of the major petroleum exploration companies of Pakistan E&P and presently the second largest gas producer of the Country with more than 60 years of rich history. KUFPEC is an international upstream Company, engaged in exploration, development and production of crude oil and natural gas outside the State of Kuwait. The two companies with a robust financial and operational background have desired through the MoU to exchange technical knowledge and industry experiences, allowing for further discussion of potential local and international upstream growth synergies and possible co-venture opportunities.
Earlier, Lieutenant General Ishfaq Nadeem Ahmad (retd.) accorded a warm welcome to AlKandari. Speaking on the occasion, he said signing of MoU is an important development for both the Companies which will further strengthen their existing relations and open up new avenues of cooperation for them within Pakistan and abroad. Expressing his views, AlKandari said that KUFPEC, as a Kuwaiti national Company, holds both Pakistan and MPCL in high regard based on historic brotherly relations between the two countries. Considering MPCL's integrated E&P capabilities, proactive presence in Pakistan's exploration and production activities, KUFPEC is equally looking forward to pursuing the potential opportunities with MPCL.
Besides the two Managing Directors of MPCL and KUFPEC, Tufail Ahmed Khoso, General Manager Exploration, Aqib Anwer, General Manager Business Development, Brigadier Obaid-ur-Rehman Lodhi (retd), General Manager Mari Services Division and Asif Ali Rangoonwala, Consultant Business Development witnessed the MoU signing.-PR
Comments
Comments are closed for this article.