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Siba – Material Gas Asset at Advanced
Stage of Development
Location Map
Gas Development & Production Service Contract (GDPSC) for
20 years with optional 5 year extension period, plateau gas
rate of 100mmcf/d
Service contract favouring early recovery of capex
Initial remuneration fee of $7.5/boe, subject to R-
Factor
Payments made in cash, unless government elects to
pay in crude
Potential to increase the plateau gas rate
Significant transportation and infrastructure problems causing
shortage of gas for power generation in Iraq i.e. a ready
market exists
Potential for oil exploration
(1)
Siba development plan:
Drilling 4 development wells per year from 2017
Construction of pipeline and production facility
commenced in 1H 2014
Highlights
(1) Oil exploration not included in the current licence; separate licence would need to be agreed with the Government.
Siba
Iraq
IRAN
Basrah
Block 9
B9NE
B9W
Siba
ZUBAIR
Nahr Umr
IRAQ
YADAVARAN
RUMAILA SOUTH
RUMAILA
RUMAILA NORTH
WESTQURNA
MAJNOONAZADEGAN SOUTH
20 km
0
Oil Pipeline
Oil Field
Gas Field
Gas Pipeline
Licensed Block
Internal Boundary
Major Town / City
Ownership Summary
Partner
Working Interest
Kuwait Energy (Operator)
Revenue 45% / Cost 60%
TPAO
Revenue 30% / Cost 40%
Missan Oil Company
Revenue 25% / Cost 0%
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