Kuwait Energy
EL-12-211107
11
Karim Small Fields, Oman
Under the terms of the Service Agreement for the Karim Small Fields (KSF), Medco LLC
and KE have no direct rights to any volumes of oil, either in situ or produced and are
prohibited from making any public disclosure related to the Reserves in KSF.
Nonetheless, the Service Agreement can be considered as a Risked Service Contract
(RSC) as defined by PRMS, which would normally give the Contractor the right to claim
Reserves. For the purpose of this report, KE’s estimated net pre-tax revenues from KSF,
expressed in terms of equivalent barrels of oil, are shown in Table 0.5.
TABLE 0.5
SUMMARY OF KE NET FUTURE PRE-TAX REVENUES
EXPRESSED IN TERMS OF EQUIVALENT BARRELS OF OIL
AS AT 31
st
MAY, 2014
Field or Block
Status
KE Net Revenues
(MBbl equivalent)
Low Case
Best Case
High Case
Karim Small Fields
(Oman)
Dev
138
143
145
Undev
63
64
64
Total
201
206
209
Notes:
1.
The above volumes are displayed for illustrative purposes only as the terms of the Service
Agreement do not allow the Contractor any direct right to lift volumes.
2.
KE net revenues comprise its share of the cost recovery and profit share fees, based on its 20%
equity in Medco LLC, which holds a 75% interest in the Service Agreement.
3.
Under the terms of the Service Agreement, no Reserves are attributable to Medco LLC in KSF, and
thus none are attributable to KE.
