Kuwait Energy
EL-12-211107
102
TABLE 7.8
SENSITIVITY TO COSTS AND COMMODITY PRICES OF
POST-TAX NPV10 (US$ MM) OF FUTURE REVENUE FROM RESERVES,
NET TO KE, AS AT 31
st
MAY, 2014
Field
Base
Oil Price
CAPEX
OPEX
-20%
+20%
-20%
+20%
-20%
+20%
Block 5
104.1
80.8
127.3
104.5
103.7
106.1
102.0
Nabrajah
1.3
0.2
3.3
1.3
1.3
3.1
0.5
Burg El Arab
87.2
69.6
104.6
88.6
85.8
88.8
85.6
Abu Sennan
40.8
17.0
63.8
50.1
31.5
48.5
33.1
ERQ
188.7
148.4
229.1
189.2
188.2
193.4
184.0
Area A
107.0
75.3
138.9
111.7
102.4
113.5
100.8
Siba
115.1
111.1
117.8
119.8
110.1
114.8
115.2
Mansuriya
54.1
47.8
58.6
71.2
40.1
54.6
53.5
Total
698.4
550.3
843.5
736.4
663.1
722.7
674.8
Notes:
1.
The “Net Present Values” are calculated from discounted cash flows incorporating the fiscal terms
governing the fields.
2.
All cash flows are discounted on a mid-year basis to 31
st
May, 2014, at a discount rate of 10% p.a.
3.
The NPVs shown here are for the Proved plus Probable, Developed plus Undeveloped Reserves.
4.
There is no future CAPEX envisaged for Nabrajah.
5.
The reference NPVs reported here do not represent an opinion as to the market value of a property
or any interest therein.
TABLE 7.9
SENSITIVITY TO COSTS AND COMMODITY PRICES OF
POST-TAX NPV10 (US$ MM) OF FUTURE REVENUE,
NET TO KE, AS AT 31
st
MAY, 2014
Field
Base
Oil Price
CAPEX
OPEX
-20%
+20%
-20%
+20%
-20%
+20%
KSF
4.3
3.4
5.3
4.4
4.3
4.4
4.3
Notes:
1.
The “Net Present Values” are calculated from discounted cash flows incorporating the fiscal terms
governing the asset.
2.
All cash flows are discounted on a mid-year basis to 31
st
May, 2014, at a discount rate of 10% p.a.
3.
The NPVs shown here are for the Best Estimate, Developed plus Undeveloped case.
4.
KSF is shown separately from KE’s other assets since, under the terms of the Service Agreement for
KSF, no Reserves are attributable to Medco LLC in KSF, and thus none are attributable to KE.
5.
The reference NPVs reported here do not represent an opinion as to the market value of a property
or any interest therein.
