PICO, KUFPEC plan to inject $119.5M investments into Gulf of Suez

PICO International Petroleum and the Kuwait Foreign Petroleum Exploration Company (KUFPEC) are planning to invest $119.5 million within the coming five years to scale production up at the Geisum and Tawila West concession in the Gulf of Suez.

Updated 11/7/2023 7:48:00 AM

Shell’s subsidiary to sell 40% of offshore concession in Egypt to KUFPEC

A subsidiary of Shell has signed an agreement to sell 40% of its Nile Delta Block 3 offshore concession at the Mediterranean to Kuwait Foreign Petroleum Exploration Company (KUFPEC).

Updated 9/20/2023 12:16:00 PM