Kuwait Energy signs Farm-Out Agreement with Global Connect Limited for Abu Sennan, Egypt

17 - January - 2017

Kuwait City, Kuwait – 17 January 2017: Kuwait Energy plc (“Kuwait Energy”) is pleased to announce the signing of a Farm-Out Agreement (FOA) for 25% participating interest in the Abu Sennan concession from its share, to Global Connect Limited (“Global Connect”); a recently established E&P Company with a focus on MENA region. The FOA was signed in Egypt on Thursday 15 December 2016 and it is effective as of 31 December 2016. The agreement remains subject to government and pre-emption approvals.

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Kuwait Energy Signs US$100 million Financing Facility with Vitol

28 - December - 2016

Kuwait City, Kuwait – 22 December 2016: Kuwait Energy plc (“Kuwait Energy”), signed a forward sale agreement with Vitol on Tuesday 13 December 2016. The agreement provides a financing facility for up to US$100 million.

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Kuwait Energy Receives First Cargo from Block 9, Iraq

15 - November - 2016

Kuwait City, Kuwait – 15 November 2016: Kuwait Energy plc (“Kuwait Energy”) is pleased to announce its first cargo allocation from Iraq covering its Block 9 oil production. The shipment covers Kuwait Energy’s share of production until June 2016.

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Kuwait Energy signs Farm-Out Agreement with EGPC for Siba, Iraq

26 - October - 2016

Kuwait Energy plc (“Kuwait Energy”) is pleased to announce the signing of the Farm-Out Agreement (FOA) of a 20% participating interest from Kuwait Energy’s share in Siba, to the Egyptian General Petroleum Corporation (“EGPC”), which was signed in Egypt on Monday 24 October 2016.

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Kuwait Energy plc announces the commencement of oil production from Faihaa-2 well in Block 9, Iraq

13 - October - 2016

Kuwait Energy plc (“Kuwait Energy”) is pleased to announce the commencement of production from the Al-Jahraa SE-1X exploration well in the Abu Sennan concession located in the Western Desert, Egypt. Discovered on 27 July 2016, Kuwait Energy obtained the development lease from the Egyptian Petroleum Corporation (EGPC) for Al-Jahraa SE-1X on 24 August 2016 and commenced production on 25 August 2016 at an initial rate of 460barrels of oil per day (bopd) from the Abu Roash E (AR-E) formation. The well is producing at a 2” inch choke size and production has stabilized to a daily average rate of 410 bopd.

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