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Operations Performance
Production
In 2015, Kuwait Energy recorded an average daily working interest production of 25,000 boepd, a 1% year-on-year
decrease from 25,252 boepd in 2014. This decrease is primarily the result of Yemen production shut down since April
2015 due to being unable to export oil as the cargo ships could not enter the port due to security reasons which was
nearly offset by the production increase in Egypt and start up in Block 9, Iraq.
Egypt continued to be a major contributor to production, with a daily average working interest production of 20,942
boepd in 2015. This accounted for 84% of the Group’s production, an increase of 20% from 2014. The two major
contributing Egypt assets were ERQ and Area A, which delivered a daily working interest average production of
11,885 boepd and 4,567 boepd respectively.
In addition to Egypt’s contribution, Block 9 asset in Iraq started production in October and delivered 200 thousand
barrels of oil working interest production by the end of 2015.
Production summary
Asset
2014 Production Daily WI
average (boepd)
2015 Production Daily WI
average (boepd)
Change percentage
Abu Sennan
932
2,994
221%
Burg El Arab
1,142
1,496
31%
Area A
4,419
4,567
3%
East Ras Qattara
10,990
11,885
8%
Egypt Total
17,483
20,942
20%
Block 5
(1)
4,092
910
-78%
Block 43
(1)
365
66
-82%
Yemen Total
4,457
976
-78%
Karim Small Fields – Oman
2,544
2,533
0%
Eurasia
(2)
767
0
-100%
Block 9 - Iraq
(3)
0
549
+100%
Kuwait Energy Total
25,252
25,000
-1%
1. Yemen assets shut down in April 2015 due to political situation.
2. Ukrainian assets sold April 2014; Russian assets sold November 2014.
3. Iraq Block 9 asset started production in October 2015.
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