Iraq Situation Overview
21
KE’s Siba asset will supply domestic gas for power generation
Strong support from Government to KE’s operatorship of the
largest gas resource in South Iraq
Siba project on time/budget, enhances KE’s position
Strong
Demand for
Domestic
Gas
South Oil
Company as
Offtaker
Southern
Iraq Secure
Southern Iraq produces c.3mmboepd
(1)
oil and has been
operating un-interrupted
Current instability is far from the conflict area
Homogeneous population and has been largely isolated from
conflicts over the last 10 years, wealthiest region in Iraq
KE enjoys strong Government and local relationships
South Oil Company (SOC) has a reputation of consistent
payments to IOCs counter parties in Iraq
Majors operating as counterparties
KE may offtake in cash or in kind (i.e. crude oil)
Context for KE
Siba and
Block 9
Mansuriya
(1) Source: IEA, Iraqi Oil Ministry.
