UNITEDENERGY GP (00467) announced that all conditions precedent under the Common Terms Agreement (CTA) and other financing documents have been satisfied in accordance with the requirements, and the financing drawdown was officially completed on December 4, 2025.

On November 28, 2025, Kuwait Energy Basra Limited (KEBL), a wholly-owned subsidiary of UNITEDENERGY GP, entered into the CTA for a $346 million reserve-based lending facility secured by KEBL's upstream oil and gas interests in Iraq. The transaction involved The Arab Energy Fund (TAEF) as the initial mandated lead arranger and structuring bank, alongside Kuwait Finance House B.S.C (c) DIFC Branch as the lead arranger and Trafigura Group.

The syndicated financing comprises both conventional and Islamic financing components. Following the transaction, the company will maintain a strong balance sheet and a stable capital structure. The successful syndication reflects the strong confidence of regional and international financial institutions in UNITEDENERGY GP's operational excellence in Iraq and its overall sound financial position.

With stable cash flow generation and a sustainable business model, the company will continue to adopt prudent financial policies and responsible capital planning to ensure long-term financial stability. UNITEDENERGY GP remains committed to optimizing its capital structure, supporting steady growth in core operations, and delivering long-term value to shareholders.