48
49
KUWAIT ENERGY plc GROUP
CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S
REPORT FOR THE YEAR ENDED 31
st
December 2011
Kuwait Energy Five Year Summary
As at 31
st
December
Units
2007
2008
2009
2010
2011
Financial performance
Product sales revenue
US$ million
25.9
90.8
88.3
141.8
178.9
Cost of sales
US$ million
10.1
71.0
70.8
102.9
96.8
Operating cash flow
US$ million
17.9
50.8
51.1
85.6
111.9
Net profit
US$ million
20.6
29.9
5.6
21.9
34.8
Financial position
Total assets
US$ million
239.6
577.7
680.9
771.5
884.1
Debt
US$ million
-
-
28.0
53.0
53.0
Total equity
US$ million
193.7
525.7
580.1
631.3
734.3
Reserves and production
Proven plus probable WI
reserves
mmboe
34.1
43.4
51.2
48.8
235.3
Annual WI Production
mmboe
1.2
3.0
4.2
4.8
5.0
Development wells
#
26
44
39
33
49
Workovers
#
30
46
44
19
43
Exploration Wells
#
-
4
10
11
8
Exploration Expenditure
US$ million
4.8
13.8
31.0
41.6
36.3
