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Health, Safety, Sustainability and Environment
Kuwait Energy classifies its recordable incidents as FataliƟes, Lost Time Incidents, Restricted Work Incidents and
Medical Treatment Incidents.
No recordable incident took place in Kuwait Energy’s operated areas during Q4 2016
meaning that
only one LTI
incident taking place
during the whole of 2016
(on 15 February 2016 in Area A, Egypt).
The table below provides the number of days without LTI at the end of Q4 2016 compared to figures at the end of
Q3 2016 for the countries in which Kuwait Energy operates.
Country
Days without LTI
(as of Q4 2016)
Days without LTI (as of Q3 2016)
Iraq
816
724
Yemen
576
484
Egypt
320
228
ProducƟon
Kuwait Energy achieved
2016 average daily WI producƟon
of
24,573 boepd
. The
Q4 2016 average daily WI
producƟon
stood at
26,041 boepd
; a
jump of 14.6%
from the previous quarter (22,742 boepd) primarily due to the
commencement of Faihaa-2 producƟon on 1 October 2016
. ProducƟon in 2016 was slightly lower than the previous
year predominantly due to the conƟnued suspension of Yemen based acƟviƟes since April 2015, and the natural
decline of the Company’s mature EgypƟan assets. It is worth noƟng that
Kuwait Energy’s WI 2016 exit producƟon
was 25,736 boepd
.
The success of the
Block 9, Iraq Fast-Track development
iniƟaƟve
has allowed Kuwait Energy to expedite the
development of the asset and this is reflected in
the rise of the Company’s daily WI producƟon in the country.
Iraqi
average daily WI producƟon
grew from under 3,000 boepd (~5,000 boepd gross) during the first 9 months of the
year
to
over 6,400 boepd
(~11,000 boepd gross)
in Q4 2016.
Faihaa-2 well
in Block 9
, Iraq has seen its
average daily WI producƟon rise to 3,600 boepd
(~6,000 boepd gross), a
significant increase from its reported iniƟal producƟon due to an increase in choke size. Currently (as of 22 January
2017), Faihaa-2 is producing at
6,800 boepd gross
.
In Egypt,
producƟon targets for 2016 were exceeded
, with
EgypƟan average daily WI producƟon of over 18,000
boepd
(Q4 was over 17,000 boepd) which was
above the forecasted volumes for the period
. The exceeded target
is mainly down to the Company’s workover and well management program.
O
PERATIONAL
A
CTIVITY