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KUWAIT ENERGY PLC

NOTES TO THE CONDENSED SET OF FINANCIAL STATEMENTS

For the six month period ended 30 June 2017

11

3.

SEGMENTAL INFORMATION

Information reported to the Group’s Executive Management, the chief operating decision maker, for the purposes of

resource allocation and assignment of segment performance is specifically focused on the geographical area, namely

Egypt, Iraq, Yemen and rest of the world (included in others). The Group has one class of business, being the

exploration, development, production and sale of crude oil and natural gas.

Other operations include unallocated expenditure and liabilities of a corporate nature comprising the Company’s

external debt and other non-attributable corporate liabilities. The unallocated capital expenditure for each period

comprises the acquisition of non-attributable corporate assets.

There has been no change in the basis of segmentation or in the basis of measurement of segment profit or loss in the

period.

The following is an analysis of the Group’s revenue and results by reportable segments:

Egypt

Iraq

Yemen

Others

Total

US$ 000’s US$ 000’s

US$ 000’s US$ 000’s US$ 000’s

30 June 2017

Segment revenues

54,775

40,623

-

-

95,398

Segment operating profit/(loss)

22,729

20,176

(1,993)

(11,539)

29,373

Share of results of joint venture

1,390

Change in fair value of convertible loans

(15,160)

Other income

537

Foreign exchange gain

254

Finance costs

(6,789)

Profit before tax

9,605

Taxation charge

(3,938)

Profit for the period

5,667

Segment assets

229,795

502,889

79,602

55,877

868,163

E&E assets

4,389

-

22,145

-

26,534

PP&E

104,926

385,334

45,826

849

536,935

Segment liabilities

40,520

91,334

19,783

471,235

622,872

Other information:

Exploration expenditure written off

1,531

-

-

-

1,531

Additions to E&E

1,717

-

441

-

2,158

Additions to PP&E

1,703

54,059

414

-

56,176

Depreciation, Depletion and

Amortisation

16,585

13,649

-

161

30,395