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Who We Are

Kuwait Energy

(the “Company”)

is an independent oil and gas company actively engaged in the exploration,

appraisal, development and production of hydrocarbons. Since establishment in 2005, we have built a high-quality,

diversified portfolio of oil and gas assets in the MENA region across Iraq, Egypt, Yemen and Oman. Our MENA

portfolio consists of 10 exploration, development and production assets, of which we operate seven.

Kuwait Energy

has its registered office in Jersey, its head office in Bahrain, its regional operational hub in Kuwait and

area offices in Basra, Baghdad, Cairo and Sana’a.

2017 Key Highlights

Two incidents

categorised as a

recordable Lost Time Incident

(“LTI”) took place in 2017 within



operated concessions.

Average daily WI production

for the year is

26,819 boepd.

The total WI production volume

for the year

stands at

9.8 mmboe.


Block 9


, Kuwait Energy

completed the drilling of two wells (Faihaa-3 and Faihaa-4) whilst

spudding a third well (Faihaa-5)

. Production from the completed

Faihaa-4 well began in early February



Faihaa-5 is expected to be online in Q2 2018



(Iraq), the Company on 1 November 2017 signed a drilling contract for 4 new production wells with

the oilfield services firm


. The additional wells are scheduled to be drilled and completed in

2018 and are necessary to allow the concession to reach the gas production plateau of

100 mmscfd

. Initial

gas production at



25 mmscfd

) is

scheduled to commence towards the end of 1H 2018


In Basra (Iraq)


2017 saw

Kuwait Energy being assigned


the Iraqi State Oil Marketing Company (“SOMO”)

crude cargo shipments totalling 1.2 mmbbls


Kuwait Energy’s

share) of Basra Light - with a

total value of

approximately US$60m

. These crude payments going forward are expected to increase as the Company’s

Iraqi production increases in 2018 and beyond. The Company anticipates it will receive its

next Iraqi crude

cargo payment of approximately 0.8 mmbbls

in Q1 2018


In Cairo (Egypt), on 9 September 2017

Kuwait Energy

finalised the

farm-out of 25% of its shares in the Abu

Sennan (Egypt) concession to a new partner - GlobalConnect


Kuwait Energy

by the year-end holds a 25%

revenue interest in the concession and remains the operator of the

Abu Sennan


Operations in 2017 remained on hold at both


(Iraq) and