Kuwait Energy
EL-12-211107
83
TABLE 6.8
SUMMARY OF OIL PROSPECTIVE RESOURCES (LEADS)
AS AT 31
st
MAY, 2014: BLOCK 43 (YEMEN)
Lead
Gross
Best Estimate
(MMBbl)
KE WI (%)
Net to KE
Best Estimate
(MMBbl)
GCoS (%)
Q1 / M3 / B4
Qishn
0.8
28.33
0.2
9
Madbi
0.4
28.33
0.1
5
Basement
4.1
28.33
1.2
5
S6 / B7
Shuqra
3.9
28.33
1.1
7
Basement
0.7
28.33
0.2
5
Q2 / M4 / S4
Qishn
1.9
28.33
0.5
7
Madbi
3.4
28.33
1.0
5
Shuqra
5.1
28.33
1.4
6
Q3
Qishn
0.6
28.33
0.2
15
M1
Madbi
0.1
28.33
0.0
9
M2
Madbi
2.6
28.33
0.7
5
S5
Shuqra
1.5
28.33
0.4
5
S7
Shuqra
2.5
28.33
0.7
7
Notes:
1.
Gross Prospective Resources are 100% of the volumes estimated to be recoverable from the Lead
in the event that a discovery is made and subsequently developed.
2.
KE Net Prospective Resources in this table are KE’s Working Interest fraction of the Gross
Prospective Resources; they do not represent KE’s actual Net Entitlement under the terms of the
PSC that governs the asset, which would be lower.
3.
The GCoS reported here represents an indicative estimate of the probability that drilling this Lead
would result in a discovery.
4.
The volumes reported here are “unrisked” in the sense that no adjustment has been made for
geological or commercial risk, i.e. the risk that no discovery will be made or that any discovery would
not be developed.
5.
Prospective Resources should not be aggregated with each other, or with Reserves or Contingent
Resources, because of the different levels of risk involved.
6.5.2 Block 49
Block 49 is located in dry, irregular terrain in Central Yemen and has an area of
approximately 2,000 km
2
. As noted in Section 2.3, nine wells have been drilled on
the Block, resulting in three non-commercial discoveries (Figure 6.4). Historical
seismic coverage of the Block is limited to a few 2D lines and the quality of these
seismic data is poor. In 2003, 230 km
2
of 3D seismic was acquired over the West
Ghobata discovery (Figure 6.4) by MOL Yemen Oil and Gas, who was the
operator at that time. In 2013, KE began acquisition of 3D seismic over an area in
the southern part of the Block (Figure 6.4).
Three Prospects (deeper horizons in West Ghobata and Balharak South) and six
Leads (all in the Madbi Formation, but four with secondary targets in the Lam and
Basement) have been identified (Figure 6.4, Table 6.9 and Table 6.10). Reservoir
quality and trap definition are major risks. Although KE reinterpreted the 2D
seismic data over the southern part of the Block in 2013, seismic coverage of the
Leads is limited and seismic data quality is poor.
