116
Location
Asset
Revenue
Interest
(%)
(1)
Cost
Interest
(%)
(2)
Operator
Status
(3)
Expiry
(4)
Fiscal
regime
(5)
2018
(9)
Mansuriya
(10)
22.50
30.00
TPAO
ADEP
July 2031
(11)
SC
Siba
45.00
60.00
Group
ADEP
July 2031
(11)
SC
Yemen
Block 5
15.00
15.00
Group
PAEP
June
2015
(12)
PSC
Block 43
28.33
33.33
DNO
PAEP
April 2025
PSC
Block 49
64.00
75.29
Group
EA
July 2014
(13)
PSC
Block 82
21.25
25.00
Medco
Energi
EA
December
2014
PSC
Oman
Karim Small
Fields
15.00
15.00
Medco LLC PA
August
2016
(14)
SC
Pakistan
Jherruck
40.00
40.00
(15)
NHEPL
EA
December
2014
RTC
Kunri
40.00
40.00
(15)
NHEPL
EA
June
2012
(16)
RTC
Latvia
Licence 1-2004
45.00
50.00
Group
EA
September
2034
RTC
Licence 1-2009
45.00
50.00
Group
EA
September
2039
RTC
(1) Revenue Interest is the Group’s percentage interest of the contractor’s revenue received under the contract or joint-venture agreement for an
asset.
(2) Cost Interest is the Group’s percentage interest of costs payable under the contract or joint-venture agreement for an asset.
(3) EA = Exploration and Appraisal Asset; PAEP = Producing Asset with Exploration Potential; PA = Producing Asset; ADEP = Awaiting
Development with Exploration Potential.
(4) Expiry dates are presented as the scheduled initial expiry of the current term of the relevant PSC or service contract, including options to
renew which are exercisable solely at the Group’s option, with no third party consent or approval required. Certain of the Group’s licence
terms may be extended (i) after expiry of the initial exploration or development term, subject to counterparty approval and / or (ii) in the
case of an exploration licence, into a development phase upon a declaration of commercial discovery. For details relating to the Group’s
options to extend its current interests, see the description of each asset’s licence terms under the section entitled “—
The Group’s
operations
.”
(5) PSC = Production Sharing Contract; SC = Service Contract; RTC = Royalty Tax Contract.
(6) The Area A service contract consists of both exploration and development services. The current exploration service contract is set to expire
in September 2014 and may be extended for additional 18-24 month periods, subject to approval of GPC. The development service contract
for Shukheir North West field expires in February 2019, and for the Kareem & Ayun, Kheir, Shukheir field and Um El Yusr fields in June
2023. The service contract for development leases may be extended for additional 10-year periods subject to approval by GPC.
(7) The development licence for the Abu Sennan-2 and Al Ahmadi fields expire in March 2032, for the Abu Sennan-1 field in February 2032
and for the Abu Sennan-3 field in March 2033.
(8) The exploration licence has expired but the Group can drill within development leases. The development licence expiry dates are as follows:
March 2027 for the Shahd licence, July 2027 for the Ghard licence, April 2028 for the Shahd SE licence, February 2028 for the Rana
licence, June 2030 for the Rana SE licences, May 2029 for the Al Zahraa licence, March 2030 for the Diaa licence, and May 2031 for the
Shebl and Shebl East licences.
(9) The exploration period is twice extendable by two years after February 2018. The term of development expires in February 2033, in respect
of oil fields, and in February 2043, in respect of gas fields, with an option to extend the term for an additional five years.
(10) The Group is currently seeking opportunities to sell its interest in its Mansuriya asset in Iraq or otherwise exit the asset and intends to spend
only the minimum capital expenditures required under the Mansuriya licence.
