11.8
c.30
100
200+
2016
Exit
2018
Exit
2023
2025+
Early Production Program
(3)
o
3 wells on production currently, and the 4
th
well is
due to commence production in Q1 2018
o
Two additional wells planned to be completed in
2018 and the third in 2019
o
Gross production of c.30 kbbl/d targeted by 2018
YE
Full Field Development
o
Kuwait Energy is planning to submit a full field
development plan (FDP) in 2019 based on 2P+2C
resources
o
Production increases thereafter, with 125+ kbbl/d
targeted by 2023 and 250+ kbbl/d by 2026
o
Optionality to monetise part of stake post FDP
Production Potential
(1)(2)
Field Development Plan
Early prod’n
program
Full FDP
2019
10 year
plateau
Gross Production (kbbl/d)
6 wells
Source: GCA report.
(1) Production profile based on management’s best estimates in the early phase of the field development; key assumptions include: a) recovery factor of 20% and 35% for the Mishrif and Yamama reservoirs, respectively;
b) implementation of water and gas injection projects in both the Yamama and Mishrif reservoirs; c) conversion of 2C resources.
(2) Company estimate based on the assumption of 5 kbbl/d per well and a six-well development program by 2018 year end. (3) Currently scheduled to expire at the end of 2018. (4) If approved, a 20 year development
licence would be granted. (5) Subject to pre-emption rights and approvals.
Based on
2P Reserves
Based on
2P reserves &
2C resources
(1)
Targeting gross production rate of 250,000 bbl/d by 2026
(1)
(2)
(1)
17
Block 9 – Development Plan Concept
(1)
(2)
(5)
(4)