Kuwaiti KUFPEC Seeks to Sell Its Assets in Norway

Reuters reported, citing sources, that the Kuwait Foreign Petroleum Exploration Company (KUFPEC) has begun the process of selling its assets in Norway as part of its focus on new exploration and production hubs. Three sources stated that the company has appointed Scotia Bank to manage the sale process, which could raise $300 million. The Kuwait Petroleum Corporation, KUFPEC's parent company, did not respond to a request for comment. Scotia Bank was also unavailable for comment.