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Surrounded by Giant Oil Fields

(1)

o

Giant oil field in one of the most prolific oil

regions in the world

Southern Iraq producing 3.5 mmbbl/d

Well understood geology and proven

basin

o

Stable oil regime in Southern Iraq with IOCs

having record of uninterrupted production

o

2P WI of 688 mmboe and 2C of 976 mmboe

o

Three wells drilled and currently producing

16.0 kbbl/d gross (9.6 kbbl/d WI) YE 2017

o

Field shared with Iran (Yadavaran) –

production on the Iranian side of 76.9

kboe/d in 2016

o

Block 9 represents one of the largest

independent-operated oil field

developments globally

o

Directors believe there will be no production

restrictions from OPEC cuts

Source: Company filing, Wood Mackenzie.

Note: Companies in the map represent international operators (not including Iraq’s state and national oil & gas companies); volumes represent recoverable resources as at 1 January 2017 according to Wood Mackenzie,

except for Faihaa field which represents the gross 2P and 2C resources based on GCA report as at 31 December 2016.

(1) Giant oil field defined as fields with > 500 mmboe of recoverable resources or with daily production exceeding 100 kboe/d.

(2) Production for all fields represent 2016 average production based on Wood Mackenzie.

(3) Represents average production rate YE 2017.

(4) Yadavaran field not part of Kuwait Energy’s asset portfolio; Faihaa field crosses over into Yadavaran.

(5) Source: Wood Mackenzie.

(6) Source: Wood Mackenzie; excluding fields operated by oil and gas majors and national oil and gas companies.

Oil Field

Gas Field

Country Border

/

Faihaa

2.8 bnboe

/

14

Block 9 – Key Development Opportunity

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