Dragon Oil Today Dragon Oil is a leading independent international oil and gas exploration, development and production company Headquartered in Dubai, UAE, with offices in Turkmenistan and the UK Listed on the London and Irish Stock…
Dragon Oil Today (cont.) 13 years of production growth at an 800 2P oil and condensate reserves, average of 21% since the million barrels 700 commencement of the PSA in 2000 Organic 2P oil and condensate 600 reserves replacement…
Future Development Production target of 100,000 bopd 110,000 Gross average daily crude oil in 2015 and plateau at this level for production, bopd 100,000 at least five years thereafter 90,000 Commensurate onshore and 80,000…
1H 2013 Corporate and Operational Results
1H 2013 Key Operational Highlights The average gross production rate in 1H 2013 was approximately 73,600 bopd vs 64,200 bopd in 1H 2012 Six development wells, including one sidetrack, were put into production during the period…
Gross Production Growth 15% growth in 1H 2013 to 73,600 bopd (vs 64,200 bopd 1H 2013 gross production in 1H 2012) Six wells completed in 1H 2013; solid performance 73,600 bopd from existing wells Growth at the lower end of…
1H 2013 Drilling Results 2013 drilling programme consists of 12 wells, including two sidetracks Platform-based drilling rig. Platform-based drilling rig. Well Completion date Depth (metres) Type of completion Initial test…
Infrastructure Highlights Dzhygalybeg (Zhdanov) A platform: drilling to commence in 4Q 2013 Tendering to select contractors to construct a number of platforms in the Dzheitune (Lam) field Offshore platform. has progressed Expect…
Rig Deployment ANNUAL STATUS DRILLING CAPACITY Contracted until Jack-up rig 1 4-5 wells May 2015 Contracted to complete Land rig 1 4-6 wells another 3 wells Contracted to start drilling Land rig 2 and 3 5-6 wells in 4Q 2013…
Secondary Oil Recovery Pilot water injection project commenced in the Dzheitune (Lam) 75 area Initial results expected in the next six months Similar activities are planned in the Dzheitune (Lam) 13 area Potential to increase…
Marketing of crude oil Export of crude oil Marketing arrangements via Baku, Azerbaijan secured until the end of 2014 for all export entitlement volumes 14-21% discount to Brent expected based on the expectations of the oil price…
Gas Monetisation Short-term arrangement to Long-term gas sales agreement, reduce flaring of gas targeted towards export markets, and strip condensate for sale 2013 2014-16 Tendering to select a contractor for Gas Treatment Plant…
Diversification Tunisia Bargou Permit Joint Venture of Dragon Oil (55%), Cooper Energy (30% and operator) and Jacka Resources (15%) 4,616km2 shallow offshore Production test recommenced with results expected thereafter…
Diversification (cont.) Iraq Block 9 Consortium of Kuwait Energy (70% and operator) and Dragon Oil (30%) Basra province Final service contract signed in 866km2 onshore January 2013 5-year exploration period to establish…
Diversification (cont.) Afghanistan Sanduqli Consortium of companies selected as the winning bidder in the Afghan-Tajik Phase 1 Mazar-i-Sharif Oil & Gas Tender onshore Contract has been initialled and submitted for final approval…
Investment in People and Communities Our Talent Training and Development Polyclinic Over 1,400 professional In-house and external training Building and related originating from 40 countries programmes with particular infrastructure…
1H 2013 Financial Results
1H 2013 Financial Highlights Revenue Net profit Cash Balance US 492mn US 241mn US1.7bn Net of A&D Production growth Interim dividend of Self-financing of capital 15 US cents expenditure Lower realised oil prices per share…
1H 2013 Capital Expenditure The Dzheitune (Lam) C platform. USmn 186 1H 2013 55 94 149 Infrastructure Drilling 1H 2012 112 96 208 Total capital expenditure for 1H 2013: Drilling (63%) Six wells, including one sidetrack,…
Outlook
Outlook Production Drilling Production growth at the lower end of 12 wells, including two sidetracks, in 2013 10-15% on average per year in 2013 and and 20 wells per year in 2014 and 2015 around 15% in 2014 and 2015 Five drilling…
Outlook (cont.) Gas monetisation Tendering process to select a contractor to build a Gas Treatment Plant ongoing Construction phase is anticipated to take two to three years after the contract is awarded Diversification…
Key Facts on the Cheleken Contract Area As at 30 June 2013 Russia Kazakhstan Proved and Probable Oil and Gas Remaining Recoverable Condensate TCF Black Sea Reserves million barrels Georgia Uzbekistan Gross field reserves to 1st…
1H 2013 Income Statement USm 1H 2013 1H 2012 Change Comments Revenue 491.6 588.4 -16% Sales were 5.7 million barrels of crude oil at a realised price of US86/bbl. 16% decrease is attributed to a lower realised crude oil price (94%)…
1H 2013 Cash Flow Cash and term deposits total US2,125mn as at Net cash from operations down 55% 1H 2013 and include: Capital expenditure in 1H 2013 was US149mn Term deposits of more than three and US182mn cash outflow after movement…
1H 2013 Balance Sheet USmn 1H 2013 YE 2012 Comments Non-current assets Property, plant & equipment 1,577.0 1,529.6 Increase due to capital expenditure of US149.3mn offset by the and intangible assets depletion and depreciation charge…
Investor and analyst enquiries Dragon Oil plc Anna Gavrilova + 44 20 7647 7804 agavrilovadragonoil.com irdragonoil.com Media enquiries Citigate Dewe Rogerson Martin Jackson +44 20 7638 9571 Joint Corporate Brokers Davy…
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