Kuwait’s KUFPEC Looking For Acquisitions Globally -CEO

Kuwait’s foreign petroleum exploration corporation, known as KUFPEC, is looking for acquisitions in all regions, given the current oil price environment, Chief Executive Officer Shaikh Nawaf Al-Sabah said on the sidelines of the CERAWeek conference in Houston on Monday.

He said the company is looking in all regions, including the U.S., and did not specify a minimum price level below which the acquisitions would become uneconomic, saying that it varies from formation to formation.