Kuwait's KUFPEC interested in investing in Kazakhstan's gas sector

ASTANA. Jan 16 (Interfax) - The Kuwait Foreign Petroleum Exploration Company (KUFPEC) is looking into prospects for investing in Kazakhstan's gas industry, the press service of the republic's Ministry of Foreign Affairs reported.

"The management of KUFPEC has expressed interest in exploring opportunities in Kazakhstan's oil and gas industry and said that it has begun a preliminary analysis of the country's investment potential. The parties reaffirmed their willingness to continue their dialogue and the exchange of information in order to identify promising areas for cooperation and the company's potential involvement in implementing gas projects in the medium term," a statement published after the meeting of Kazakh Ambassador Yerzhan Yelekeyev and KUFPEC CEO Issa Al-Maraghi reads.

The parties discussed prospects for developing bilateral cooperation between Kazakhstan and Kuwait at the meeting, as well as potential areas for collaboration in the energy sector.

The Kuwait Foreign Petroleum Exploration Company (KUFPEC) is an international company specializing in the exploration, development and production of oil and natural gas outside of Kuwait. The company is a subsidiary of the Kuwait Petroleum Corporation and operates in more than 10 countries in five continents, including Australia, Asia, Africa and North America.