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Financial Information

   2018 20172016 201520142013  2012
Production        
Egyptboepd      35,200       40,200     38,350     34,600     40,400     37,100     32,300
Kurdistan Region of Iraqboepd      26,650       25,750     26,000     29,300     28,500     27,600     27,500
UAEboepd        1,200         1,650       2,700     
TOTALboepd      63,050       67,600     67,050     63,900     68,900     64,700     59,800
         
Revenue$MM          470           450         392         417         683         652         633
Royalties$MM         (176)         (169)       (137)       (146)       (207)       (192)       (136)
         
Net revenue$MM          294           281         255         271         476         460         497
         
Operating costs$MM           (54)           (52)         (52)         (56)         (55)         (66)         (53)
Depreciation and depletion$MM         (113)         (111)       (100)         (89)       (118)       (106)         (89)
Reversal of accrued operating cost$MM            13              -              -              -              -              -              -  
         
Gross Profit$MM          140           118         103         126         303         288         355
         
General and administration expenses$MM           (16)           (15)         (13)         (23)         (28)         (32)         (34)
Other income$MM            14             26              -         208  -  -                      - 
Investment and finance (cost) /  income$MM            22             24          (55)        130             3           44           14
Reversal of / (provision for) surplus over entitlement$MM           114           39        (153) -  -  - 
Provision for impairment$MM         (250)           (36)           (7)         (24)         (22)           (3)           (9)
Other expenses$MM           (22)           (20)         (19)           (8)           (4) -  - 
Change in fair value of investment property$MM             (2)             -              (1)           (1)           (1)           (1)           (3)
Share of loss of a joint venture$MM              1              -              (3)           (7)           (1)           (1) - 
Exploration expenses$MM             (6)           (19)           (4)         (14)           (1)           (8)           (9)
Finance costs$MM           (36)           (71)         (97)         (77)         (73)         (78)         (86)
         
(Loss) / Profit for year before tax$MM         (155)          121          (57)        157         176         209         228
Income tax expense$MM           (31)           (38)         (31)         (13)         (51)         (53)         (63)
         
(Loss) / Profit for the year$MM         (186)            83          (88)        144         125         156         165
         
Other comprehensive income:        
         
Gain / (Loss) on available-for-sale financial asset$MM             -                -              -           15          (26)         (20)          29
  
Total comprehensive (loss) /  income for year$MM         (186)            83          (88)        159           99         136         194
         
Non-current assets$MM        2,461         2,690       2,379       2,364       2,268       2,292       2,319
Current assets$MM          706         1,092       1,386       1,548       1,344       1,216       1,161
Assets classified as held for sale     -  -           13  - 
         
Total Assets$MM        3,167         3,782       3,765       3,912       3,612       3,521       3,480
    
Total Equity$MM        2,587         2,867       2,782       2,871       2,710       2,543       2,417
         
Non-current liabilities$MM          429             33           73         826         767         832           14
Current liabilities$MM          151           882         910         215         135         141       1,049
         
Total Liabilities$MM          580           915         983       1,041         902         973       1,063
Liabilites directly associated with the assets classified as held for sale              -                -              -         -            -               5           - 
         
Total Equity and Liabilities$MM        3,167         3,782       3,765       3,912       3,612       3,521       3,480

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