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Who We Are
Kuwait Energy is an independent, MENA focused oil and gas exploration and production company. Kuwait Energy was
established in 2005 and has its registered office in Jersey, head office in Bahrain and operational hub in Kuwait. Operations are
focused on Egypt, Iraq, Yemen, and Oman.
Key Highlights
One recordable Lost Time Incident (“LTI”) took place in Kuwait Energy’s operated areas.
Average daily Working Interest (“WI”) production for Q4 2015 is 25,194 boepd, an increase of 7.1%, as compared to
Q3 2015 (23,522 boepd) mainly due to the production startup in Block 9, Iraq.
Oil production from Faihaa-1 well in Block 9, Iraq commenced on 12
th
of October 2015 and stabilised on the 28
th
of
that same month, adding an average of around 5,000 bopd to our total production.
Siba-6 well tested 21 MMscfd and 5,000 bcpd on a 64”/64” choke and completed, proving deliverability to supply
forthcoming facilities with natural gas volumes.
Since the end of the first quarter 2015, Block 5 production in Yemen have been shut down due to unstable situation in
the region resulting in cargo ships being unable to enter the port to export the oil.
With the decline in oil prices, which has placed challenges on the entire oil industry, Kuwait Energy is working
diligently to manage its costs. Several measures are being considered including a 40% reduction in Capital
Expenditure, Operational Expenditure and General & Administrative.
Financial Reporting
Under the US$ 250 million Senior Notes reporting requirements, Kuwait Energy is required to provide quarterly unaudited
management accounts within 90 days of the end of the first three quarters of the financial year and audited financial
statements within 120 days of the end of each financial year, all of which are available on the Kuwait Energy website
(www.kuwaitenergy.co).
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