BAKU, Azerbaijan, September 16. Kuwait Foreign
Petroleum Exploration Company (KUFPEC) is interested in exploring
investment opportunities and participating in oil and gas projects
in Kazakhstan, Kazakhstan's Ministry of Foreign Affairs said.
Kazakhstan's Ambassador to Kuwait Yerzhan Yelekeyev held a
meeting with KUFPEC Director General Eisa Abdulrahman Al-Maraghi,
during which the sides discussed prospects for Kazakh-Kuwaiti
cooperation in the oil and gas sector, with particular attention to
opportunities for Kuwaiti participation in prospective projects in
Kazakhstan.
The Kazakh ambassador briefed his counterpart on the potential
of Kazakhstan's oil and gas industry, available investment
opportunities and Kazakhstan's interest in attracting international
investment, advanced technologies and expertise to the exploration
and production of hydrocarbons, the ministry said.
KUFPEC management expressed interest in studying investment
opportunities in Kazakhstan's oil and gas sector and considering
prospects for participation in specific projects.
"The sides agreed to hold a meeting between the relevant
technical teams of Kazakhstan and KUFPEC to discuss in detail
investment opportunities, technical parameters and possible
mechanisms for implementing oil and gas projects," the ministry
said.
Following this work, and once mutual interest in specific
projects is established, the sides will consider holding in-person
bilateral meetings and exchanging delegations to further advance
practical cooperation.
KUFPEC is an international oil and gas company wholly owned by
state-owned Kuwait Petroleum Corporation (KPC). The company
specializes in oil and gas exploration and production outside
Kuwait and operates in eight countries across five continents. In
2024, KUFPEC's production amounted to around 76,000 barrels of oil
equivalent per day. In 2026, the company agreed to acquire a 20%
stake in the Orca and Sul de Orca projects in Brazil.
