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KUWAIT ENERGY PLC
CONSOLIDATED BALANCE SHEET
As at 30 June 2016
11
30 June 31 December
2016
2015
Audited
Audited
Notes
US$ 000’s
US$ 000’s
ASSETS
Non-current assets
Intangible exploration and evaluation assets
12
32,293
32,663
Property, plant and equipment
13
668,778
621,571
Investment in Joint Venture
14
2,900
5,528
Other non-current assets
15
4,918
22,754
708,889
682,516
Current assets
Inventories
16
25,768
24,411
Trade and other receivables
17
62,882
48,198
Cash and cash equivalents
18
54,459
105,297
143,109
177,906
Total assets
851,998
860,422
EQUITY AND LIABILITIES
Equity
Share capital
19
560,822
559,835
Share premium
19
205,909
205,491
Other reserves
20
(105,670)
(105,613)
Retained deficit
(321,648)
(310,437)
Equity attributable to owners of the Company
339,413
349,276
Non-controlling interest
4,484
5,645
343,897
354,921
Non-current liabilities
Borrowings
21
244,075
243,326
Convertible loans
22
119,881
117,329
Obligations under finance leases
23
3,429
3,911
Provisions
24
15,882
15,458
Deferred tax liabilities
10
163
163
383,430
380,187
Current liabilities
Trade and other payables
25
120,189
119,659
Current tax payable
1,096
1,849
Convertible loans
22
2,026
2,071
Obligations under finance leases
23
1,360
1,735
124,671
125,314
Total liabilities
508,101
505,501
Total equity and liabilities
851,998
860,422
The financial statements were approved by the board of directors and authorised for issue on 30 September 2016. They
were signed on its behalf by:
Manssour Aboukhamseen
Chairman & Managing Director