On 22 May 2018, local media reported that Kuwait Energy Company KSCC (Kuwait Energy) is looking to divest its assets in Egypt and Iraq. The company hired Perella Weinberg Partners investment bank as the adviser for the sale and spin off Egypt assets. Kuwait Energy is looking for liquidity to pay back shareholders and creditors. The company owes USD 290 million due in 2019 and should start repayment of a convertible loan of USD 150 million during 2018 to Abraaj Group.  Kuwait Energyâs Egypt interests are Abu Sennan - Abu Sennan, Abu Sennan GPZZ (KEE) (Dev), Abu Sennan H (KEE) (Dev), Al Zahraa (Dev), Burg El Arab North (Dev), Burg El Arab South (Dev), Diaa (Dev), East Umm El Yusr, Ghard (Dev), Kareem (Area A) Kheir (Area A), Rana (Dev), Shahd (Dev), Shahd South East (Dev), Shebl (Dev) - Shukheir (Area A), and Umm El Yusr (Area A).  The company is looking to sell part or all its interests in Block 9 in Iraq.   Talks for a possible merger with the UKâs SOCO international plc (SOCO) were terminated in March 2018.
Egypt, Al Zahraa (Dev)