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Operations
Kuwait Energy continues the focus on the MENA region with its presence in Iraq, Egypt, Yemen and Oman.
In Iraq, the
Faihaa-2 well
in Block 9 is on production with oil collected and transported by road to SOC via the Bin
Umar offloading facility. Tests on the Yamama-A zone showed a
maximum recorded oil rate in excess of 9,500 bopd
gross
with a maximum gas rate of 11.5 mmscfd on choke 52/64” after acidisation
.
Currently the well is producing
~5,600 bopd gross on 36/64” choke, and we are in the process of
upgrading the facilities to increase productivity
from the well
.
The Group has
begun drilling the Faihaa-3 well
, located south of Faihaa-1. The Faihaa-3 well was
spud on 31
st
August
2016
, and
drilling is currently ahead schedule
. The group anticipates
production to commence from Faihaa-3 in Q1
2017
.
Kuwait Energy is scheduled to receive its
first cargo shipment from Iraq at the end of October 2016
. Additionally
Kuwait Energy has invoiced
for Block 9 Q3 production
which was
sent to the Iraqi government in early October
.
The Siba Gas Plant’s
Engineering, Procurement and Construction
(EPC) works
are ongoing and progressing on the
ground with
production anticipated for 1H 2017
.
In Yemen, the Company remains in discussions with different governmental stakeholders and continues to closely
monitor the complex geopolitical situation in the country. Despite the regional situation,
Glencore has successfully
lifted 3 mmboe
from Dhahab port in the south with
both Block 10 and 14 resuming partial production
. Kuwait
Energy continues to monitor the situation and is
operationally-ready to
commence production when the situation
permits.
Sustainability
As part of our HSSE efforts, Kuwait Energy continues to apply the leading HSSE auditing programmes; as shown by
the Groups
recertification of the ISO 14001 and OHSAS 18001 certificates
during the last quarter.
O
UTLOOK