72
73
KUWAIT
NOTES T
For the yea
5. SEGM
31 Decemb
Segment re
Segment re
Loss on he
trading der
Other inco
Foreign ex
loss
Finance co
Profit befo
Taxation
Profit for t
Segment a
E&E asset
PP&E
Segment li
Other infor
Additions
Additions t
PP&E
ENERGY
O THE CON
r ended 31 D
ENTAL INF
Egy
USD 0
er 2010
venues
84
sults
3
ld for
ivative
me
change
sts
re tax
he year
ssets
352
s
154
9
abilities
13
mation
to E&E
20
o
25
plc AND S
SOLIDAT
ecember 201
ORMATIO
pt
Yem
00’s
USD
,582
15
1,283
6
,658
37
,132
27
8,257
3
,466
7
,796
14
,489
2
UBSIDIAR
ED FINANC
1
N (CONTINU
en
I
000’s
USD
,929
,124
,625
,897
,083
,215
,146
,429
IES
IAL STAT
ED)
raq
O
000’s
USD
-
-
683
-
683
-
-
683
EMENTS
man
U
000’s
US
18,058
(1,393)
15,510
1
-
8,228
1
4,154
-
15,660
kraine
R
D 000’s
US
15,013
1,882
73,704
16,504
31,266
26,436
-
17,394
ussia
D 000’s
US
8,190
(7,345)
101,143
29,619
63,014
24,474
224
5,259
2
Others
D 000’s
U
-
(11,616)
90,189
15,812
2,718
64,465
6,448
1,505
6
Total
SD 000’s
141,772
18,935
(675)
4,222
(463)
(1,818)
20,201
1,701
21,902
771,512
243,964
307,249
140,210
41,614
68,419
KUWAIT ENERGY plc AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2011
26
6.
REVENUE
2011
2010
USD
000’s
USD
000’s
Oil sales
166,649
126,760
Gas sales
12,272
15,012
178,921
141,772
7.
COST OF SALES
2011
2010
USD
000’s
USD
000’s
Operating costs
40,421
35,680
Depletion of oil and gas assets and decommissioning assets
48,145
59,511
Royalties
8,205
7,669
96,771
102,860
8.
IMPAIRMENT LOSS
2011
2010
USD
000’s
USD
000’s
Impairment of oil and gas assets
4,066
-
Impairment of net current assets
4,454
-
8,520
-
During the year the Company lost its licence on the JAA fields in Ukraine and wrote off in full all directly
associated assets and liabilities which resulted in a net impairment loss of USD 8,520 thousand.
9.
OTHER INCOME
2011
2010
USD
000’s
USD
000’s
Interest income
197
80
Others
603
4,142
800
4,222
10.
FINANCE COSTS
2011
2010
USD
000’s
USD
000’s
Realised hedge loss (see note 23)
7,101
949
Unwinding of decommissioning provision
107
58
Borrowing costs on bank overdrafts and loans
5,681
5,128
Less: amount capitalised in cost of qualifying assets
(5,140)
(4,317)
7,749
1,818
Kuwait Energy Plc And Subsidiaries
Notes To The Consolidated Financial Statements
For The Year Ended 31 December 2011
Kuwait Energy Plc And Subsidiaries
Notes To The Consolidated Financial Statements
For The Year Ended 31 December 2011
