2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | ||
Production | ||||||||||||
Egypt | boepd | 21,800 | 25,900 | 28,300 | 30,950 | 33,700 | 35,200 | 40,200 | 38,350 | 34,600 | 40,400 | 37,100 |
Kurdistan Region of Iraq | boepd | 36,900 | 34,300 | 33,800 | 32,250 | 31,500 | 26,650 | 25,750 | 26,000 | 29,300 | 28,500 | 27,600 |
UAE | boepd | 1,000 | 1,200 | 1,650 | 2,700 | |||||||
TOTAL | boepd | 58,700 | 60,200 | 62,100 | 63,200 | 66,200 | 63,050 | 67,600 | 67,050 | 63,900 | 68,900 | 64,700 |
Revenue | $MM | 423 | 529 | 452 | 349 | 459 | 470 | 450 | 392 | 417 | 683 | 652 |
Royalties | $MM | (109) | (152) | (134) | (124) | (174) | (176) | (169) | (137) | (146) | (207) | (192) |
Net revenue | $MM | 314 | 377 | 318 | 225 | 285 | 294 | 281 | 255 | 271 | 476 | 460 |
Operating costs | $MM | (53) | (57) | (60) | (55) | (55) | (54) | (52) | (52) | (56) | (55) | (66) |
Depreciation and depletion | $MM | (71) | (71) | (63) | (84) | (103) | (113) | (111) | (100) | (89) | (118) | (106) |
Reversal of accrued operating cost | $MM | – | – | – | – | 13 | – | – | – | – | – | – |
Gross Profit | $MM | 190 | 249 | 195 | 86 | 127 | 140 | 118 | 103 | 126 | 303 | 288 |
General and administration expenses | $MM | (11) | (12) | (11) | (12) | (15) | (16) | (15) | (13) | (23) | (28) | (32) |
Other income | $MM | 8 | 36 | 642 | 1 | 135 | 14 | 26 | – | 208 | – | – |
Investment and finance (cost) / income | $MM | 10 | 5 | 2 | 15 | 15 | 22 | 24 | (55) | 130 | 3 | 44 |
Reversal of / (provision for) surplus over entitlement | $MM | – | – | – | – | – | – | 114 | 39 | (153) | – | – |
Provision for impairment | $MM | (3) | (49) | (533) | (412) | (66) | (250) | (36) | (7) | (24) | (22) | (3) |
Other expenses | $MM | – | (10) | (16) | (11) | (8) | (22) | (20) | (19) | (8) | (4) | – |
Change in fair value of investment property | $MM | 1 | – | – | 18 | – | (2) | – | (1) | (1) | (1) | (1) |
Share of loss of a joint venture | $MM | (1) | (2) | 4 | (2) | (1) | 1 | – | (3) | (7) | (1) | – |
Exploration expenses | $MM | – | – | (5) | 1 | – | (6) | (19) | (4) | (14) | (1) | (8) |
Finance costs | $MM | (18) | (9) | (5) | (16) | (16) | (36) | (71) | (97) | (77) | (73) | (78) |
(Loss) / Profit for year before tax | $MM | 176 | 208 | 339 | 372 | 171 | (155) | 121 | (57) | 157 | 176 | 209 |
Income tax expense | $MM | (16) | (26) | (22) | (4) | (14) | (31) | (38) | (31) | (13) | (51) | (53) |
(Loss) / Profit for the year | $MM | 160 | 182 | 317 | (376) | (157) | (186) | 83 | (88) | 144 | 125 | 156 |
Other comprehensive income: | ||||||||||||
Gain / (Loss) on available-for-sale financial asset | $MM | – | – | – | – | – | – | – | – | 15 | (26) | (20) |
Total comprehensive (loss) / income for year | $MM | 160 | 182 | 317 | 376 | 157 | (186) | 83 | (88) | 159 | 99 | 136 |
Non-current assets | $MM | 1,807 | 1,739 | 1,653 | 2,034 | 2,482 | 2,461 | 2,690 | 2,379 | 2,364 | 2,268 | 2,292 |
Current assets | $MM | 989 | 930 | 974 | 388 | 720 | 706 | 1,092 | 1,386 | 1,548 | 1,344 | 1,216 |
Assets classified as held for sale | – | – | – | – | – | – | – | – | – | – | 13 | |
Total Assets | $MM | 2,796 | 2,669 | 2,627 | 2,422 | 3,202 | 3,167 | 3,782 | 3,765 | 3,912 | 3,612 | 3,521 |
Total Equity | $MM | 2,371 | 2,300 | 2,293 | 2,145 | 2,632 | 2,587 | 2,867 | 2,782 | 2,871 | 2,710 | 2,543 |
Non-current liabilities | $MM | 186 | 237 | 215 | 71 | 69 | 429 | 33 | 73 | 826 | 767 | 832 |
Current liabilities | $MM | 239 | 132 | 119 | 206 | 501 | 151 | 882 | 910 | 215 | 135 | 141 |
Total Liabilities | $MM | 425 | 369 | 334 | 277 | 570 | 580 | 915 | 983 | 1,041 | 902 | 973 |
Liabilites directly associated with the assets classified as held for sale | – | – | – | – | – | – | – | – | – | – | 5 | |
Total Equity and Liabilities | $MM | 2,796 | 2,669 | 2,627 | 2,422 | 3,202 | 3,167 | 3,782 | 3,765 | 3,912 | 3,612 | 3,521 |
MENA's largest independently listed, natural gas-focused E&P Company