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Completion of the Acquisition of an Interest in OML 26 – Afren Plc

Afren Plc · Dec 1, 2011 · 17 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 1
    Completion of the acquisition of an interest in OML 26 1st December 2011
  2. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 2
    Transaction highlights
  3. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 3
    First Hydrocarbon Nigeria Established in response to Nigerian governments policy of increasing indigenous participation in the upstream sector Vision to become a champion in the indigenous sector through acquiring and developing…
  4. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 4
    Transaction highlights Acquisition by FHN of a 45% interest in OML 26 Two producing, three undeveloped fields and significant exploration upside Acquisition cost US147.5 million Large scale reserves and resource base Independently…
  5. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 5
    Operating framework and capital requirement Afren will provide technical and operational management services to FHN under an agreed set of terms FHN will partner with NPDC in re-development of the block Partnership follows and builds…
  6. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 6
    Asset overview www.afren.com
  7. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 7
    Block OML 26 Isoko Field 56km Ogini Field 63km Onshore Nigeria, Delta State East of Warri East of Warri 2 developed fields (Ogini and Isoko) 3 undeveloped fields (Aboh, Ovo and Ozoro) Crude export is via the Forcados terminal…
  8. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 8
    Ogini and Isoko fields - reserves and current status Developed Fields Ogini Field Isoko Field Combined Comments Status Producing Producing - Both fields producing from only a limited number of drainage points - most are currently…
  9. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 9
    Ogini field summary Ogini Field OML 26 Discovered: 1964 Production start up: 1971 23 wells have been drilled. There are 11 currently producing drainage points Simple roll-over anticline structure. Sedimentology consists mostly…
  10. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 10
    Isoko field summary ERC E2000 TWT interpretation Isoko Field OML 26 West East Discovered: 1959 Production start up: 1976 7 wells drilled. 5 are active HEP structure back to time with 1 currently producing drainage point…
  11. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 11
    Ogini & Isoko fields - full field development strategy Full Field Development and Production Strategy Drill up to 39 horizontal production wells in 3 phases (existing production wells were drilled vertically) Expand existing well…
  12. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 12
    Ogini and Isoko fields - phased development plan Phase 1 Phase 2 Phase 3 Drill 6 producers + 1 Expand production capacity Further expand facilities water disposal well Drill 15 additional producers Drill 18 infill-wells Refurbish…
  13. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 13
    Discovered un-developed Aboh, Ovo and Ozoro fields OZORO-2 Gross 2C 100% Remaining Hydrocarbons* 10 Oil (mmbbls) 0 Condensate (mmbbls) 19 Natural Gas (bcf) 13 Total (mmboe) Asset Type: Shut-in field, produced 1 mmbbls oil in…
  14. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 14
    Exploration inventory acquired substantial upside potential Prospect Name P50 Oil mmbbls* P50 Condensate mmbbls* P50 Gas bcf* Total P50 mmboe* Idhereki SW 80 4 295 135 Ove DP 31 5 351 97 Aboh S 8 9 321 72 Ogini S 25 4 109 47…
  15. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 15
    Conclusions
  16. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 16
    Growth through indigenous partnerships OPL 907/917 OPL 310 OML 26 Okoro Ofa Ebok Okwok OML 115 Acquisition of OML 26 17 www.afren.com
  17. Completion of the Acquisition of an Interest in OML 26 – Afren Plc – slide 17
    Conclusions Reactivation of fallow assets held by Major IOCs Endorsement of Catalyst to emerging Nigerian secondary E&P market Nigerian strategy Repeatable and scaleable transaction model early mover advantage Leveraging…

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