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Case Study: Technical Expertise and Cost
Management Demonstrated in Egypt
BEA (Kuwait Energy 100% WI) – 2.5x increase in
production, ongoing drop in opex/bbl
Asset Description
Underdeveloped asset with exploration potential and
existing production
Takeover of operatorship in Aug 2009 from Gharib
Kuwait Energy Development Actions
Operations reviewed and raised to international
standards
Gross Production grew c.2.5x since 2008
11 development wells and 5 exploration wells with 3
discoveries
Turnaround ongoing, target further decrease in opex
Area A—2x increase in production
Asset Description
Mature producing area (since 1960)
4 development blocks, 2 exploration blocks
Successful extraction of new oil from an old field
Waterflood potential currently being evaluated
Kuwait Energy Development Actions
Redefinition of geological model
Production doubled within one year post acquisition
Application of new western technologies going forward
(water injection
)
Target undervalued regional opportunities through seismic and technical reinterpretation
Rapid turnaround in production/conversion of resources to reserves
Low risk and cost efficient appraisal and development
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