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Detailed Ownership by Asset
Asset
KE
Operator
Revenue
WI
(1)(2)
Cost WI
(1)
Partners
Licence Expiry
Iraq
Block 9
(3)
✓
60.00% 60.00%
Dragon Oil 30%, EGPC 10%
-
(5)
Siba
✓
30.00% 40.00%
TPAO 30%, Missan Oil Company 25%,
EGPC 15%
2032
Mansuriya
22.50% 30.00% TPAO* 37.5%, OEC 25%, KOGAS 15%
2031
Egypt
Abu Sennan
✓
25.00% 53.00%
Dover 28%, Rockhopper 22%, Global
Connect 25%
2032 - 2036
Burg El Arab (BEA)
✓
100.00% 100.00%
-
2021
Area A
✓
70.00% 70.00%
Petrogas 30%
2019 - 2023
East Ras Qattara
(ERQ)
49.50% 49.50%
ENAP Sipetrol* 50.5%
2027 – 2031
Yemen
Block 5
✓
15.00% 15.00%
YICOM 20%, KUFPEC 20%; Newco 15%
(4)
,
Total 15%, ExxonMobil 15%
2018
(6)
Block 49
✓
64.00% 75.29%
Consolidated Contractors Company 21%,
TYC 15%
-
(5)
Oman
Karim Small Fields
(KSF)
15.00% 15.00%
Medco Energy* 51%, Oman Oil Company
25%, Vision Oil 5%, Petrovest 4%
2040
(1) Source: GCA report as at 31 December 2016. * Denotes operatorship.
(2) Revenue WI is the percentage interest of Kuwait Energy in the revenues derived from sale of production from an asset, before taking into account any taxes, fees, royalties or other payments.
(3) Kuwait Energy is currently engaged in a dispute under which the claimant asserts that it has a right to an increased non-controlling share. Kuwait Energy believes that the claimant’s position will not be vindicated,
and Kuwait Energy is firmly committed to vigorously rebutting the claim. (4) Newco was formed by two Russian companies: Mashinoexport and Zarubezhgeologiya. (5) In Block 9 and Block 49, 20 year licences are
expected to be granted for each approved development area; each with a possible 5 year extension period. (6) A number of Force Majeure events have occurred hence licence for Block 5 will not expire before
March 2018; a 5 year extension of the licence is likely.
32
Asset Snapshot