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o
Kuwait Energy is in partnership with EGPC in both Block 9 and Siba
▪
Farm-out of 10% working interest in Block 9 to EGPC completed in October 2015
▪
Farm-out of 15% revenue working interest and 20% cost working interest to EGPC in Siba
completed on 18 May 2017
o
Management believes the alliance has key benefits to Kuwait Energy
▪
Significantly enhances Kuwait Energy’s relationship with EGPC
▪
Improves the outlook for the Egyptian operations
Strategic Alliance with EGPC in Block 9 and Siba
EGPC Receivables Successfully Managed
Source: Company filings.
(1) 2008-2015 production figures based on Kuwait Energy daily production reports; 2016 and Q3 2017 figures based on latest company quarterly activity report.
131
164
117
66
30
58
72
2011
2012
2013
2014
2015
2016
YTD-Sept 2017
13
Kuwait Energy’s Alliance with EGPC
Receivables at Period End ($m)
(1)