Kuwait Energy Company
Establishment: August 2005
AREF Energy shareholding: 17.39%
KEC is a petroleum upstream company, specialized in evaluation, exploration, development and production of oil and gas. They operate both in the offshore and onshore fields. Their current reserve base is estimated around 46 million barrel oil. KEC is presently producing about 4,000 Barrels of Oil per Day.
Competitive Advantage
KEC has the advantage of a management team that has vast experience in exploration and production operations in developing countries and can leverage this experience to enhance their success rate.
Future Prospect KEC is targeting to grow their current production to 50,000 barrels of oil equivalent (boe) per day and develop a portfolio of proven and probable reserves equivalent to 300 million boe by the year 2010.