Kufpec

Kuwait Foreign Petroleum Exploration Co. has retained Scotia Waterous to seek a joint-venture partner to participate in the development of the company's property on Seram Island, eastern Indonesia. The company owns and operates a 97.5% working interest in the property, which includes the producing Oseil Field, its associated facilities and significant exploration potential. The company is seeking a joint-venture partner interested in acquiring approximately 40% of its interest in the property and in working to accelerate the development of the Oseil Field as well as to assess new drilling initiatives. The property has current daily production of approximately 4,000 barrels of oil. For more information, contact Doug De Filippi, +44 20 7569 1312.