Update post Bond Issue in August (Cont’d)
Production
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MENA average daily working interest production of 24,250 boepd for YTD November 2014 and for month of
November 27,248 boepd.
Development
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Siba, Iraq – major contracts (pipeline & gas plant facilities) issued, 7 well drilling program commenced in May.
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Siba final major contract (EPC) to be awarded in Q4 2014.
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Mansuriya, Iraq – all activities in the field are under administrative hold due to the security situation.
•
3 notable Egypt development wells:
•
ERQ Shahd SE 8 and 9 wells produced with initial rates of ~3,750 and 3,300 bopd respectively.
•
Abu Sennan El Salmiya 6 production tested at rate of 2,880 bopd and 9.7 mmscfd of gas through a ¾” choke.
Portfolio Management
•
Russian assets were sold with net proceeds of US$8.3 million to be received in December 2014.
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