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Kufpec borrows $1.1 billion
Aug. 1, 2018
Source: Energy Voice

Kufpec borrows $1.1 billion

Kuwait Foreign Petroleum Exploration Co., a unit of KPC, borrowed a five-year loan worth $1.1 billion with the help of Sumitomo Mitsui Banking Corp. and Societe Generale SA. The company is planning to expand its shale operations, so the money will be spent on the projects of oil and natural gas. Further, Kufpec plans to increase its production capacity to 119,000 barrels of oil equivalent per day by next month.

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