2014 AGM 23 April 2014 Exploring new opportunities
The Cheleken Contract Area, offshore Turkmenistan, our 55% interest in the Bargou main producing asset Exploration Permit, Tunisia (100% interest) where we have (operator in development phase) operated for over 13 years…
Dragon Oils Strategy Exit 2015 at a production 110,000 Gross average daily crude oil production, bopd target of 100,000 bopd and 100,000 plateau at this level for at 90,000 least five years thereafter 80,000 70,000…
2013 1Q14 Highlights Dr Abdul Jaleel Al Khalifa, CEO Exploring new opportunities
Key Highlights Solid operational and financial results Organic reserves replacement for a fourth consecutive year Encouraging results from water injection pilot and artificial lift application Diversification continues: Offshore…
Gross Production Growth 9.1% growth achieved with two rigs 2013 AVERAGE GROSS PRODUCTION operational (including part-time on maintenance) during the year 73,750 bopd 1Q14 AVERAGE GROSS PRODUCTION 72,300 bopd New Block 1. Old…
Reserves and Resources AS AT 31 DECEMBER 2013 AS AT 31 DECEMBER 2012 Proved and Probable Remaining Oil and Condensate Gas Oil and Condensate Gas Recoverable Reserves million barrels TCF million barrels TCF Gross field reserves to…
Infrastructure Highlights Dzhygalybeg (Zhdanov) A platform: installed and drilling to commence shortly Dzhygalybeg (Zhdanov) B platform being Construction of offshore platforms. relocated to the Dzheitune (Lam) field, location Lam…
Rigs Deployment STATUS CONTRACTED UNTIL JACK-UP RIG ELIMA MAY 2015 JACK-UP RIGS NEPTUNE CONTRACTED FOR and MERCURY THREE YEARS Platform-based drilling rig. CASPIAN DRILLER DUE IN 2H 2014 CONTRACTED FOR LAND RIG 1 THREE…
Secondary Oil Recovery: Artificial Lift Jet pumps installed in two wells: Dzheitune (Lam) 13/118 and 13/168 Average production increase of 500-700 bopd per well Plans to expand artificial lift to up to 14 wells in 2014 2015…
Secondary Oil Recovery: Water Flood Pilot water injection project ongoing at the Dzheitune (Lam) 75 area: Average pressure increase in offset wells of 100-150 psi Plan to introduce water injection in two new platforms in 2014…
Gas Treatment Plant 2014 2014-16 TENDERING TO SELECT A CONTRACTOR FOR EPIC OF GAS TREATMENT PLANT CONSTRUCTION WITH THE GAS TREATMENT PLANT ONGOING WITH AWARD CAPACITY TO PROCESS 360 MMSCFD OF GAS TO STRIP EXPECTED SOON 3,600 BARRELS…
Marketing of Crude Oil Terms renegotiated for a better discount and terms resulting in a closer correlation between realised oil prices and monthly average Brent prices 14-17% discount to Brent expected in 2014 Alternative routes…
Exploration Assets Summary DRAGON OILS COUNTRY ASSET STATUS INTEREST The Bargou Alternative Sidetrack-2 planned in 2014 at a cost of TUNISIA 55% Exploration permit US35mn pro rata Exploration well is being drilled targeting…
Investment in People OUR TALENT Over 1,550 professionals originating from 44 countries 83% come from Turkmenistan 266 people joined in 2013 Dragon Oil team in Ashgabat. 96% RETENTION RATE Dragon Oil employees in Dubai.…
Investment in People (cont.) TRAINING AND DEVELOPMENT In-house and external training programmes with particular focus on national employees Partnerships with educational institutes in the region 15 employees are enrolled to receive…
Health & Safety HEALTH AND SAFETY HSE professionals were hired to strengthen the HSE function at the operational site in Turkmenistan Group continued to operate without fatalities or major accidents HSE operations. LTIF…
Investment in Communities - Polyclinic Building and related infrastructure completed A total of 118 rooms across two floors with capacity to treat 100 patients during two shifts per day Polyclinic building. Dental…
2013 Financial Results Tarun Ohri, Director of Finance Exploring new opportunities
2013 Financial Highlights Revenue Net profit Cash Balance US1+bn US512.6mn US1.9bn Production growth Final dividend of Self-financing of capital 18 US cents per share expenditure Lower realised oil prices for 2013 Dividends…
2013 Financial Highlights Strong free cash USM 2013 2012 CHANGE flow generation Revenue 1,047.9 1,155.1 (9%) enables us to Operating profit 687.7 790.9 (13%) continue with the development of the Net profit 512.6 600.0 (15%)…
Cash Flow Cash and term deposits total US2,473mn Net cash from operations lower by 23% as at 2013 year-end and include: Total capital expenditure in 2013 was US331mn Term deposits of less than three months and US340mn cash outflow…
2013 Capital Expenditure 2013 121 151 59 Infrastructure Drilling 2012 222 160 5 Exploration activities Total capital expenditure for 2013: Drilling (46%) 10 wells, including a sidetrack, completed Infrastructure (37%)…
Outlook Exploring new opportunities
Outlook PRODUCTION Production growth at around 10% in 2014 and between 10% and 15% in 2015-16 100,000 bopd production rate in 2015 Average daily gross production of 100,000 bopd maintained from 2016 for at least five years The…
Outlook (cont.) DRILLING 14 to 16 wells, including one sidetrack, in 2014 and around 20 wells in 2015 Four drilling rigs (two jack-up and two platform-based rigs) in 2014 Caspian Driller expected in 2H 2014 Land Rig 3 expected…
Outlook (cont.) INFRASTRUCTURE Contract award to build additional 30-inch trunkline Increase CPFs processing and storage capacity Construction of the Dzheitune (Lam) E platform Relocation of the Dzhygalybeg (Zhdanov) B…
Outlook (cont.) DIVERSIFICATION Sidetrack-2 in Tunisia Spudded the exploration well in Iraq 2D seismic acquisition in Afghanistan Plan to drill an exploration well in the Philippines in 2014 Formal approval by the Egyptian…
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 John Frain…
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