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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)