20
21
2P WI Reserves
Crude Oil
Sales Gas
Condensate
Total
(mmbbl)
(bcf)
(mmbbl)
(mmboe)
Reserves year end 2010
37.3
53.8
2.7
48.8
Production
(3.4)
(1.3)
(0.1)
(3.8)
Exploration Discoveries
9.3
0.0
0.0
9.3
Revisions
42.4
(6.3)
(0.2)
41.4
Acquisition/Divestments
0.0
665.6
28.7
139.7
Reserves year end 2011
85.6
711.9
31.1
235.3
Notes
1. Reserve and resource estimates are Kuwait Energy working interest.
2. YE11 reserves and contingent resources were audited by Gaffney Cline & Associates (GCA). Prospective Resources
were estimated by Fugro Robertson.
3. Prospective Resources estimates are risked.
4. Estimates above exclude Karim Small Fields (Oman) which is covered by a Service Agreement and does not allow
external reporting of reserve volumes.
5. For Year-End 2011 gas and condensate volumes were converted to oil equivalent volumes using conversion factors of
6.0 Mscf/boe and 1.0 BBl/boe respectively.
6. Totals may not exactly equal the sum of the individual entries due to rounding.
7. Organic RRR does not take into account acquisition or divestment activities.
Reserves and Resources Definition
Reserves and resources have been estimated in accordance with the 2007 Petroleum Resources Management System
(PRMS) – commonly referred to as the SPE PRMS as approved/endorsed by Society of Petroleum Engineers (SPE), World
Petroleum Council (WPC), American Association of Petroleum Geologists (AAPG) and Society of Petroleum Evaluation
Engineers (SPEE).
Exploration Activities
• Five out of the eight wells spud were successful resulting in 62% success rate
• Success rate exceeds industry average and increased from 2010 (55%)
• 2011 exploration activity added 9.3 mmboe to proven plus probable reserves at an average finding cost of US$3.90/boe
Marina
Burg El Arab
Abu Sennan
Area “A”
Mesaha
East Ras Qattara
EGYPT ASSETS
