Glossary & Definitions
11
BOE/boe:
Barrels of oil equivalent; A BOE conversion ratio of 6 Mcf: 1 boe
is based on an energy equivalency conversion method primarily applicable
at the burner tip and does not represent a value equivalency at the
wellhead
Board:
Board of Directors of Kuwait Energy
bopd:
Barrels of oil per day
BOEPD/boepd
: Barrels oil equivalent per day
CEO
: Chief Executive Officer
Company
: Kuwait Energy Company KSCC or Kuwait Energy
Development Well
: A well drilled within the proved or probable reserves
area of an oil or gas reservoir to the depth of a stratigraphic horizon known
to be productive
E & P
: Exploration and Production
Field
: The geographical area encompassing a group of one or more
underground petroleum pools sharing the same or related infrastructure
HSSE
: Health, Safety, Sustainability and Environment
IPO:
Initial Public Offering
LNG:
Liquified Natural Gas
GCA:
Gaffney Cline & Associates
MENA
: Middle East & North Africa
MM:
Million
MMBOE/mmboe
: Million barrels oil equivalent
PEPA:
Petroleum Exploration & Production Authority, Yemen
Proven:
Proven reserves are those quantities of petroleumwhich, by analysis of
geological and engineering data, can be estimated with reasonable certainty to
be commercially recoverable, from a given date forward, from known reservoirs
and under current economic conditions, operating methods, and government
regulations
Probable:
Probable reserves are those reserves which analysis of geological and
engineering data suggests are more likely than not to be recoverable
Production: The quantity of petroleum produced in a given period
Reserves
: Reserves are those quantities of hydrocarbons which are anticipated
to be commercially recovered from known accumulations from a given date
forward
TCF/tcf:
Trillion cubic Feet
US$/USD
: United States Dollars
WI:
Working Interest; A Company’s equity interest in a project before reduction
for royalties or production share owed to others under the applicable fiscal
terms
YE:
Year End
YOY
: Year-on-Year
