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Kuwait: Kufpec’s Thai deal cancelled

Kuwait Foreign Petroleum Exploration Company (Kufpec) has pulled out of a deal to buy a 22% interest in the Bongkot gas and condensate field and other concessions in the Gulf of Thailand from oil major Royal Dutch Shell. The deal had been announced in January and was part of Shell’s wider plan to sell off some of its assets to reduce its debts, following the $70bn acquisition of BG Group.

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