Kuwait Energy Company K.S.C.C. is seeking acquisition opportunities. Kuwait Energy Executive Chairman, Manssour Aboukhamseen said, "We will witness a continuation in Kuwait Energy's activity with a particular focus on our geographical areas of expertise, the Mena region. We plan to assess potential merger and acquisition opportunities in the region that would complement our existing portfolio mix."

Kuwait Energy reported financial results for the fourth quarter of 2012. For the quarter, the company revenue up 29.4%, year-on-year, to $59.0 million compared to revenue of $45.6 million for the same period a year ago. Operating profit was up 30.1% year-on-year to $38.9 million compared to $29.9 million last year. The company reported production results for the fourth quarter of 2012. For the quarter, the company reported production was up 16.1% year-on-year, to 17,442 boepd compared to 15,018 boepd for the same period a year ago.

Dragon Oil plc announced that the Iraqi Ministry of Oil and the Tender Committee signed the final service contract with a consortium of companies, including Dragon Oil, for the exploration, development and production for Block 9 in Iraq. Dragon Oil bid jointly with Kuwait Energy in respect of Block 9. Kuwait Energy will be the operator in the service contract for Block 9, participating with a 70% contractor share, with Dragon Oil at 30%. If Block 9 is found to be commercial during the five-year exploration period, during which time the consortium is eligible for a possible renewal for another two years twice, the consortium is automatically eligible for 20-year development and production phases, extendable by a further five years.