Afren Plc 19th Africa Oil Week 31st October 2012 Galib Virani, Associate Director From strength to strength From strength to strength Slide 1
Afren growing alongside Africa Oil Week 13th Africa Oil Week 14th Africa Oil Week 15th Africa Oil Week 16th Africa Oil Week 17th Africa Oil Week 18th Africa Oil Week 2P /2C at year end Resources at year end 1000 8000 900…
An established track record of growth and delivery Admission Acquisition of Devon to AIM Energys interests in Agreement for the Ghana and Cte dIvoire development of Afren establishes Okoro Setu First Hydrocarbon First oil achieved…
A track record of delivery Accretion at Okoro both volume and value Accretion at Ebok both volume and value 30.0 40.0 25.0 120.0 Cost per bbl Cost per bbl Consensus PV per bbl 35.0 Consensus PV per bbl 25.0 100.0 Gross URR (RHS)…
Leadership across three strong business units Ranking by net Nigerian kboed (000)* Ranking by net 2P/2C mmboe* Ranking Company Ranking Company 1 Afren 1 Afren 2 SAPetro 2 Genel 3 ConOil 3 Crescent 4 Seven Energy 4 DNO 5 Pan…
Strength in Nigeria From strength to strength
Afren in Nigeria a dominant and growing position Nigerian proved undeveloped fields Original reserve size distribution 60 OPL 310 OML 26 Oil Focused on a rich Gas High impact exploration Partnered with NPDC opportunity set 45…
Afren in Nigeria strong technical achievements Development lead times offshore Nigeria with an FPSO/FSO 8 Okoro Ebok 7 Development lead time 2.5 years 3 years 6 Number of developments 5 Number of operated wells 12 21…
Leveraging the Nigerian development track record into the Kurdistan region of Iraq Early mover advantage (entry cost US0.68 per 2P/2C bbl) Kurdistan region of Iraq First production in less than one year from entry Nigeria Low…
Strength in East Africa From strength to strength
A strong foothold in East Africa Diversified geology and play types Ethiopia Gross acreage position 110,000 km2 7 8 1 Over 5.8 billion bbls of net resources 10A Kenya High equity positions L17/18 B A Tanga Tanzania…
Significant upgrade to prospectivity since acquisition Kenya 1,207 km 2D marine 794 km 2D 1,800 km 2D Blocks L17/L18 Blocks 10A (20%) Block 1 (80%) seismic seismic seismic acquisition (100% & operator) 474 km 2D shallow Multiple…
High impact forward exploration programme Kenya Block 10A (20%), Blocks L17/L18 (100%), Block 01 (80%) Paipai well drilling ahead at Block 10A 1,000 km2 3D seismic acquisition underway at Blocks L17/L18 Exploration well in 2013 at…
Conclusions From strength to strength
A material reserves and production base... 81% Only 19% of total discovered 2P/2C barrels are in 995 2P production or under mmboe 2C development 19% 7% 12% Development Under Development FDP Pending / Undeveloped…
...with significant exploration upside... NAV USmm 16,000 Country Exploration wells planned Nigeria OML 115, OPL 310 14,000 Kurdistan Ain Sifni Kenya Block 10A, Blocks L17/L18, Block 1 Tanzania Tanga Block 12,000 Madagascar…
...underpinned by three strong business units Ranking by net Nigerian kboed (000) Ranking by net 2P/2C mmboe Ranking Company Ranking Company 1 Afren 1 Afren 2 SAPetro 2 Genel 3 ConOil 3 Crescent 4 Seven Energy 4 DNO 5 Pan…
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