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Kuwait Energy’s Alliance with EGPC
Kuwait Energy is in partnership with EGPC in both Block 9 and Siba
Farm-out of 10% working interest in Block 9 to EGPC completed in October 2015
Farm-out of 15% revenue working interest and 20% cost working interest to EGPC in Siba completed on 18 May
2017
Management believes the alliance has key benefits to Kuwait Energy
Significantly enhances Kuwait Energy’s relationship with EGPC
Improves the outlook for the Egyptian operations
Strategic Alliance with EGPC in Block 9 and Siba
Source: Company filings.
(1) 2008-2015 production figures based on Kuwait Energy daily production reports; 2016 and Q1 2017 figures based on latest company quarterly activity report.
13
EGPC Receivables Successfully Managed
Receivables at Period End ($m)
131
164
117
66
30
58
52
2011
2012
2013
2014
2015
2016
Q1 2017