11.8
c.30
125 – 150
250+
2016
Exit
2018
Exit
2022 - 23
2025+
Early Production Program
(3)
3 wells on production currently; including the recently
completed Faihaa-3 well with daily production of 5.0
kbbl/d
Two additional wells planned in 2017 and one in 2018.
Faihaa-4 is due to commence production in September
2017.
Gross production of c.30 kbbl/d targeted by 2018 YE
(2)
Full Field Development
Kuwait Energy is planning to submit a full field
development plan (FDP) in 2019
(4)
based on 2P+2C
resources
Production increases thereafter, with 125+ kbbl/d
targeted by 2022 and 250+ kbbl/d by 2025
(1)
Optionality to monetise part of stake post FDP
(5)
Production Potential
(1)(2)
Field Development Plan
Early prod’n
program
Full FDP
2019
10 year
plateau
Gross Production (kbbl/d)
6 wells
Source: GCA report.
(1) Production profile based on management’s best estimates in the early phase of the field development; key assumptions include: a) recovery factor of 20% and 35% for the Mishrif and Yamama reservoirs, respectively;
b) implementation of water and gas injection projects in both the Yamama and Mishrif reservoirs; c) conversion of 2C resources.
(2) Company estimate based on the assumption of 5 kbbl/d per well and a six-well development program by 2018 year end. (3) Currently scheduled to expire at the end of 2018. (4) If approved, a 20 year development
licence would be granted. (5) Subject to pre-emption rights and approvals.
Based on
2P Reserves
Based on
2P reserves &
2C resources
(1)
Targeting gross production rate of 250,000 bbl/d by 2025
(1)
(2)
Block 9 – Development Plan Concept
(1)
17