Second Quarter 2014 Activity Report
Page 7
3.
P
RODUCTION
:
Kuwait Energy’s working interest share of production and the revenue for the quarter ended 30 June 2014
compared to the quarters ending 31 March 2014 and 30 June 2013 is shown in the table below:
*
Revenue reported is net of government take and is based on management accounts which are unaudited.
** The financial numbers for 2013 are restated on account of (a) Eurasia assets being classified as ‘held for sale’ as per 2013
audited accounts (b) Oman numbers being excluded due to application of IFRS 11 applicable from 1 Jan 2014.
*** Russia and Ukraine are discontinued operations and hence have been excluded from the production numbers in the above
table. The daily average Q2 2014 production for Russia was 721 boepd and for Ukraine was 30 boepd which was sold in April.
Kuwait Energy registered production of 23,720 barrels of oil equivalent per day (boepd) working interest and sales
revenue of US$72.3 million for the second quarter 2014.
Asset
Daily Average Working Interest Production (boepd)
Q2 2014
Q1 2014
Q2 2013
BEA
1,406
951
356
Abu Sennan
548
690
877
Area A
4,505
4,178
4,624
ERQ
10,781
9,695
8,156
Egypt Total
17,240
15,513
14,012
Block 5
3,576
4,012
4,665
Block 43
366
376
542
Yemen Total
3,942
4,388
5,207
Oman
2,538
2,566
2,550
Total
23,720
22,467
21,770
Sales Revenue* (US$ million)
72.3
67.3
64.2
