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Operations
The Company continues the focus on the MENA region with its presence in Iraq, Egypt, Yemen and Oman.
In Iraq,
Faihaa-2 development well on Block 9 spud on the 3
rd
of January 2016 and by the 21
st
of January had reached a depth of
1,202 m out of a target depth of 4,535 m. The well is expected to produce mid 2016 with in excess of 5,000 bopd gross.
The Siba gas plant engineering, procurement and construction works are ongoing with the aim to have first gas online in Q4
2016.
In Yemen,
the Company is undergoing discussions with different governmental stakeholders to define the future of the assets
in Yemen and continues to closely monitor the complex geopolitical situation in the country. Kuwait Energy will resume
production a
s
soon as lifting constraints have been removed.
In Egypt
, the Company continues its focus on the drilling and development programs, conducting studies and optimizing
production.
Kuwait Energy’s Egypt Office relocated to First Floor, Plot 185, Second District, City Center, Fifth Settlement, New Cairo, on the
7th of January 2016 providing enhanced working facilities.
Sustainability
As part of HSSE, the Company is applying the leadership HSSE auditing programme, working on the recertification of the ISO
14001 and OHSAS 18001, and installing a firefighting network in several of its operating areas.
O
UTLOOK