33 / 49
EGPC – A Quality Customer and Partner
33
Kuwait Energy’s Strong Relationship with Egyptian General Petroleum Corporation
EGPC acts as primary offtaker to Kuwait Energy with respect to its production entitlement under the PSA in BEA, ERQ
and Abu Sennan and is also responsible for the service agreement payments with respect to Area A
Kuwait Energy introduced EBRD to the government and facilitated the bank’s entry in Egypt
Kuwait Energy has an excellent relationship with EGPC at all working levels through its local presence and executive
management and keeps continuous dialogue with senior management
Kuwait Energy has been able to leverage this relationship in reducing the receivables from EGPC over time and has
never incurred any bad debt from EGPC
EGPC has approached Kuwait Energy to consider international ventures, most recently in Iraq, off the back of Kuwait
Energy’s track record and relationships in Iraq