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CERTAIN DEFINITIONS
In this Offering Memorandum, the term “Issuer” refers to Kuwait Energy plc, a public limited liability company
incorporated under the laws of Jersey. The term “Group” refers to the Issuer and its subsidiaries and subsidiary
undertakings (including the Guarantors) and, as the context requires, joint ventures. Unless otherwise indicated, the
Group’s average daily working interest production volumes are presented in this Offering Memorandum including the
Group’s interest in the Medco LLC joint venture, which represents the Group’s operations and assets in Oman. Although
the Group is required to exclude its Oman assets from its reserves and revenues, the Group’s interest in Medco LLC is
accounted for in the “Net result from joint venture” line item in the Group’s consolidated income statement. All
references to “stock” in this Offering Memorandum shall be deemed to include “shares.”
The Group has provided definitions for certain of the industry terms used in this Offering Memorandum in the “
Glossary
of terms
” of this Offering Memorandum.
The following definitions apply throughout this document unless the context requires otherwise:
$, US Dollars, USD, dollars or cents
the lawful currency of the United States.
€, Euros or EUR
the lawful currency of the European Union (as adopted by certain Member
States).
£, Pounds sterling, GBP, pence or p
the lawful currency of the United Kingdom.
Abraaj Convertible Loan
a convertible term loan facility the Group entered into in April 2012 with KEC
SPV 1 Limited (an entity managed and controlled by Abraaj Investment
Management Limited).
Arab Bank Facility
a term loan facility governed by the Arab Bank Facility Agreement.
Arab Bank Facility Agreement
a term loan facility agreement entered into on 25 September 2013 between the
Group and Arab Bank plc.
Borrowing Base Facilities
the Commercial Bank Borrowing Base Facility, the IFC Borrowing Base
Facility and the EBRD Borrowing Base Facility, together.
Borrowing Base Facilities Agreement
a common terms agreement entered into on 28 June 2012 and amended on 3
December 2012, 19 September 2013, 10 October 2013 and 18 March 2014.
Commercial Bank Borrowing Base
Facility
a secured reserve-based commercial bank credit facility that the Group entered
into in June 2012, provided by Deutsche Bank Luxembourg S.A., who also
acts as facility agent governed by the terms of the Borrowing Base Facilities
Agreement.
Convertible Loans
the Abraaj Convertible Loan and the QFB Convertible Murabaha, together.
Convertible Loans Agreements
the respective agreements governing each of the Convertible Loans.
Directors or Board
the Executive and Non-Executive Directors of the Issuer.
EBRD Borrowing Base Facility
a new secured reserve-based credit facility the Group entered into in 2013, in
which the European Bank for Reconstruction and Development acceded as a
lender, governed by the terms of the Borrowing Base Facilities Agreement.
European Economic Area
the European Union, Iceland, Norway and Liechtenstein.
Executive Directors
the Executive Directors of the Issuer.
