22 / 49
Block 9
Mj-2
Mj-3
Mj-11
NU-12
NU-8
NU-10
NU-1
NU-7
Sindbad
Block 9 – Largest Discovery in Iraq in the
Last 10 Years
Location Map
Highlights
Awarded to Kuwait Energy in the 4
th
bidding round in May
2012 and located north of the city of Basra near the Iranian
border
20-year up to a maximum of 30-year service agreement
(with a possible 5-year extension period) signed in 2013
First Kuwait Energy well (Faihaa-1) discovered oil in the
Mishrif and Yamama formations in Q3/Q4 2014
Early production achieved in October 2015, expected to
ramp-up to 20 kboepd in 2017
Area surrounded by major transportation routes that
facilitate the off-take via Basra
Payments made in crude, unless government elects to pay
in cash
Farm-out of 10% working interest to EGPC reinforces
strategic ties with Egypt and transaction completed in
September 2015
TURKEY
SYRIA
IRAN
IRAQ
SAUDI
ARABIA
KUWAIT
Baghdad
Faihaa 1
Ownership Summary
Partner
Working Interest
Kuwait Energy (Operator)
60%
Dragon Oil
30%
EGPC
10%
22