Kuwait Energy announces strong increases in revenue and production in Q2 2013

Kuwait Energy announces strong increases in revenue and production in Q2 2013 | Kuwait Energy Co (KEC) | AMEinfo.com:

"• Q2 revenue up 51.8%, year-on-year, to $77.6m (Q2 2012: $51.1m)
• Q2 production up 37.3% year-on-year, to 23,221 boepd (Q2 2012: 16,906 boepd)
• Q2 revenue up 21.2%, quarter-on-quarter, to $77.6m (Q1 2013: $64.0m)
• Q2 production up 7.6% quarter-on-quarter, to 23,221 boepd (Q1 2013: 21,568 boepd)
• Increases in revenue and production were primarily due to the new contributions from the Shahad SE field in ERQ, Egypt and the Company's 15% interest in Block 5, Yemen.
• Increased production also recorded at wells Yusr-38 ST and Yusr-60 in Area A, Egypt
• Short term debt facility with Kuwait International Bank for $25m was repaid during the quarter
• New short term facility of $15m with Qatar First Bank established"

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