Kuwait Energy Company (“KEC”)
Energy House Shareholding: 13.75%
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. The company currently produces approximately 28,000 barrels per day (of oil) and currently operates in Egypt, Iraq, Oman and Yemen. KEC is targeting to dramatically increase their current production over the next 3-5 years. The company’s proven and probable reserves at year end 2015 were approximately 825 million barrels of oil equivalent. It is worth mentioning that KEC is preparing itself for an eventual listing of its shares on a well-known public stock market.
Further information about KEC and its operations can be found at:www.kuwaitenergy.co