KUWAIT ENERGY PLC
NOTES TO THE CONDENSED SET OF FINANCIAL STATEMENTS
For the three month period ended 31 March 2017
8
3.
SEGMENTAL INFORMATION
Information reported to the Group’s Executive Management, the chief operating decision maker, for the purposes of
resource allocation and assignment of segment performance is specifically focused on the geographical area, namely
Egypt, Iraq, Yemen and rest of the world (included in others). The Group has one class of business, being the
exploration, development, production and sale of crude oil and natural gas.
Other operations include unallocated expenditure and liabilities of a corporate nature comprising the Company’s
external debt and other non-attributable corporate liabilities. The unallocated capital expenditure for each period
comprises the acquisition of non-attributable corporate assets.
There has been no change in the basis of segmentation or in the basis of measurement of segment profit or loss in the
period.
The following is an analysis of the Group’s revenue and results by reportable segments:
Egypt
Iraq
Yemen
Others
Total
US$ 000’s US$ 000’s
US$ 000’s US$ 000’s US$ 000’s
31 March 2017
Segment revenues
27,235
19,098
-
-
46,333
Segment operating profit/(loss)
13,548
10,396
(961)
(3,174)
19,809
Share of results of joint venture
450
Change in fair value of convertible loans
(3,324)
Other income
149
Foreign exchange gain
244
Finance costs
(3,364)
Profit before tax
13,964
Taxation charge
(2,328)
Profit for the period
11,636
Segment assets
223,599
528,577
79,574
25,602
857,352
E&E assets
5,987
-
21,739
-
27,726
PP&E
110,422
372,292
45,627
925
529,266
Segment liabilities
34,407
106,159
19,457
446,141
606,164
Other information:
Additions to E&E
-
-
34
-
34
Additions to PP&E
480
33,485
214
-
34,179
Depreciation, Depletion and
Amortisation
8,081
6,116
-
85
14,282