Low Cost Operator
o
Average finding cost of $0.3/boe between 2013 and
2015
(1)
and opex of $5.2/boe over the last 2 years
o
Breakeven oil price of $21/bbl on key Iraqi project
Significant growth opportunity in Block 9
and Siba developments
o
With gross 1.1 bnboe 2P / 1.6 bnboe 2C, Block 9
offers a significant growth opportunity
o
Siba gas production planned to go onstream in 2018
Strong track record of delivery
o
MENA reserves growth from 18 to 810 mmboe
between 2008 to 2016 and production from 6 to 26.8
kboe/d in 2017
o
Stable management team with long history of
operating and investing in the MENA region
Assets:
Abu Sennan*, BEA*, Area A*, ERQ
2017 WI Avg Production:
14.9 kboe/d
2016 WI 2P
: 27 mmboe,
2C
: 18 mmboe
Egypt: Core Production
Assets:
Block 9*, Siba*, Mansuriya
(2)
2017 WI Avg Production:
9.6 kboe/d
2016 WI 2P:
777 mmboe,
2C:
1,006 mmboe
Iraq: Production & Development
Assets:
KSF (Oman), Block 5*
(5)
& Block 49*
(5)
(Yemen)
2017 WI Avg Production:
2.4 kboe/d
2016 WI 2P:
6 mmboe,
2C:
16 mmboe
Other Assets: Oman
(3)(4)
, Yemen
Source: Company filings, GCA report.
Note: Reserves and resources figures based on GCA report as at 31 December 2016, excludes Oman reserves due to service contract restrictions.
* Denotes Kuwait Energy’s operatorship. (1) Based on 2P reserves exploration adds and exploration capex. (2) Currently under administrative hold. (3) Oman reserves not included due to service contract
restrictions. (4) Kuwait Energy’s interest is indirect via Medco LLC; Kuwait Energy operates under a service agreement. (5) Block 5 and Block 49 are currently not producing.
6
MENA Focused Low Cost Operator