Kuwait Energy completes acquisition of two oil fields in Russia

17 - January - 2011

Kuwait, 17 January 2011: Kuwait Energy Company KSCC (“Kuwait Energy” or “the Company”), one of the fastest growing independent oil and gas exploration and production companies in the Middle East, announced that it has completed the acquisition of Pechora Energy Company LLC and OJSC VIK, which own the two Russian oil fields, Luzskoye and Chikshina, from Concorde Oil and Gas Limited.