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KUWAIT ENERGY PLC
CONDENSED CONSOLIDATED BALANCE SHEET
As at 30 June 2017
7
30 June 31 December
2017
2016
Unaudited
Audited
Notes
US$ 000’s
US$ 000’s
ASSETS
Non-current assets
Intangible exploration and evaluation assets
6
26,534
27,692
Property, plant and equipment
7
536,935
509,369
Investment in joint venture
4,559
4,424
Other non-current assets
10
32,164
4,991
600,192
546,476
Current assets
Inventories
24,838
23,709
Trade and other receivables
8
152,579
94,983
Cash and cash equivalents
9
67,189
58,311
Assets classified as held for sale
10
23,365
126,144
267,971
303,147
Total assets
868,163
849,623
EQUITY AND LIABILITIES
Equity
Share capital
519,115
560,852
Share premium
181,826
205,929
Other reserves
(39,114)
(105,567)
Retained deficit
(420,919)
(426,582)
Equity attributable to owners of the Company
240,908
234,632
Non-controlling interest
4,383
4,437
Total equity
245,291
239,069
Non-current liabilities
Borrowings
245,689
244,860
Convertible loans
11
23,933
117,198
Obligations under finance leases
2,431
2,937
Provisions and other non-current liabilities
15,516
15,549
Deferred tax liabilities
738
463
288,307
381,007
Current liabilities
Trade and other payables
12
155,322
144,368
Current tax payable
3,406
2,473
Crude oil prepayments
47,488
40,000
Convertible loans
11
124,197
19,075
Obligations under finance leases
1,169
1,169
Liabilities directly associated with assets classified as held for sale
10
2,983
22,462
334,565
229,547
Total liabilities
622,872
610,554
Total equity and liabilities
868,163
849,623
The condensed set of financial statements were approved by the board of directors and authorised for issued on 29
September 2017. They were signed on its behalf by:
Manssour Aboukhamseen
Executive Chairman