Kuwait Petroleum Corporation (KPC) said that its subsidiary, Kuwait Foreign Petroleum Exploration Company (KUFPEC), has won a concession for petroleum exploration offshore Australia.
The WA-481-P concession is located in the territorial waters in Western Australia near Perth and covers an area of 17 500 km2. The 6-year concession includes seismic surveys, geological and geophysical studies, and excavation operations.
Operator Murphy Oil Exploration controls 40% of the concession, in partnership with KUFPEC and Samsung Oil and Gas which each hold 30%.
KUFPEC operates in 52 exploration, development, and production projects in 13 countries.