Kuwait Petroleum Company denies leaving Pakistan
ISLAMABAD: Kuwait Foreign Petroleum Exploration Company (KUFPEC) has denied reports of exiting Pakistan’s oil and gas sector, vowing to expand its operations in the country. In a statement to Kuwait News Agency (KUNA), Kuwait Foreign Petroleum Exploration Company said on Tuesday that it will continue to be a strategic partner to the Pakistan in oil and gas sector. KUFPEC said that its subsidiaries, KUFPEC Pakistan Holdings BV, KUFPEC Pakistan BV, and Kirthar Pakistan BV, have successfully divested their “non-operated assets” in Pakistan. “The divestment was made in favour of Petroleum Exploration (Pvt) Limited, a leading private-sector exploration and production company in Pakistan with a significant local and international presence”, the statement said. KUFPEC emphasized that despite this divestment, it continues to be a strategic partner to the Pakistani government in oil and gas exploration and production, reaffirming its ongoing role as the operator of the Makhad Block in...