Kuwait Energy
EL-12-211107
14
Contingent Resources Summary
The oil, condensate and gas Contingent Resources in the fields in which KE holds an
interest are shown in Tables 0.9, 0.10 and 0.11 respectively.
Contingent Resources are shown both as gross field volumes and net to KE on a Working
Interest (WI) basis. In Pakistan, where the fiscal regime is tax/royalty, KE’s Net
Entitlement Contingent Resources are equal to the WI basis volumes shown herein. In
Egypt, Yemen and Iraq, the WI basis volumes are KE’s WI fraction of the Gross Field
Contingent Resources. They represent KE’s proportion prior to application of the state
share under the PSC/PSAs or Service Contracts that govern the fields. They do not
represent KE’s actual Net Entitlement under the terms of the PSC/PSAs or Service
Contracts, which will be less than the quoted volumes.
Volumes are quoted here on a WI basis because the Contingent Resources are in
general too immature to justify creation of the conceptual development plan needed to
estimate Net Entitlement.
TABLE 0.9
SUMMARY OF OIL CONTINGENT RESOURCES
AS AT 31
st
MAY, 2014
Field or
Block
Project or
Field
Gross Field (MBbl)
KE WI
(%)
KE Net (WI Basis) (MBbl)
1C
2C
3C
1C
2C
3C
Block 9 (Iraq)
B9NE
357,075 916,000 2,164,000
70.0
249,953 641,200 1,514,800
B9W
0 85,073 141,363
0
59,551 98,954
Burg El Arab
(Egypt)
Water
Injection
3,023 13,451 31,132
75.0
2,267
10,089 23,349
Marina
193
475 1,009
145
356
756
Block 5
(Yemen)
Contract
Extension
27,951 47,565 75,985 15.0
4,193
7,135 11,398
Block 49
(Yemen)
Balharak
South
385 2,512 7,124
64.0
246
1,608 4,559
West Ghobata
8,700 15,500 24,600
5,568
9,920 15,744
Total
397,327 1,080,576 2,445,212 n/a
262,372 729,858 1,669,560
Notes:
1.
Gross Field Contingent Resources are 100% of the volumes estimated to be recoverable from the
field or project in the event that development goes ahead.
2.
KE Net Contingent Resources in this table are KEs Working Interest fraction of the Gross Field
Resources; they do not represent KE’s actual Net Entitlement under the terms of the PSC/PSA or
Service Contract that governs each asset, which would be lower.
3.
The volumes reported here are “unrisked” in the sense that no adjustment has been made for the
risk that the project may not go ahead in the form envisaged or may not go ahead at all (i.e. no
“Chance of Development” factor, as defined under PRMS, has been applied).
4.
Contingent Resources should not be aggregated with Reserves because of the different levels of risk
involved and the different basis on which the volumes are determined.
5.
Totals may not exactly equal the sum of the individual entries due to rounding.
