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.
