Gas Commercialisation Challenges Block R, Equatorial Guinea Ophir Energy plc Gulf of Guinea Week November 2010
Senegal x3 SADR x4 Rufisque, Sangomar, Daora, Haouza, Mahbes, Mijek Sangomar Deep *Op Op 25% Op 50% 7,500km2 73,000km2 AGC x1 Somaliland x1 AGC Profond Berbera **Op 53% Op 75% 9,800km2 16,000km2 JDZ x1 1 Tanzania x3…
Senegal Somaliland Farm in option with FAR Acquired 2D seismic Limited to be exercised post offshore and d illi drilling off fi firstt AGC well ll aeromagnetic onshore Surface geology study AGC Farm a out to Rocksource oc sou…
Senegal Corporate & New Ventures Somaliland Technical evaluation Potential IPO Acquire onshore 2D and integration of Kora seismic Organic g p portfolio g growth well ll results lt Corporate portfolio growth Prospect selection…
Alba Field (3.4 Ma MTA, committed to Train 1,, BG)) 870MMscf/d wet gas produced, significant dry gas re-injection for pressure maintenance, 400MMscf/d dry gas left. Zafiro Field (500-750Bcf) 150 MMscf/d flared presently…
Block R Awarded in 2006 - licensing round Term 1 4 years Term 2 2 years Term 3 1 year JV Ophir 80% (Operator) GEPetrol 20% Area 1,675km2 (after first relinquishment) Water 1 300m to 2 1,300m 2,100m 100m 2006-08 Seismic…
Lykos-1 Lykos 1 Crestal four-way dip B th Bythos-1 1 Fan system closures Fortuna-1 stratigraphic traps Targett Interval Deep thrust related closures Rocks pal Princip Source R 2008 drilling campaign 3 wells in 45…
Key challenges to be overcome: Volume assurance Engineering Solutions Fiscal Terms Commercial Structure The Challenges of a Discovery
Two (2) discoveries from three (3) wells. Positive P iti exploration l ti outcome, t b butt overall ll project j t volumes remain to be determined: in existing discoveries through focussed appraisal; addition of new low-risk…
The Fortuna fan complex is well defined seismically. seismically Detailed seismic stratigraphy g p y studies have enabled a full understanding of the depositional architecture. The key uncertainty is the net:gross ratio of…
Lykos-1 Lykos has proven a play-type with significant g follow-up pppotential. The features are well defined seismically and have a typical exploration PoS 80%. Wells can be drilled and completed as development wells to…
Additional Thrust Belt Gas Potential Conventional toe-thrust targets Outboard Fan targets Deep Sub-thrust targets VEL 1701 Fortuna 3D Survey - New Outboard Prospectivity
Fortuna Discovery Interpretation of the Fortuna 3D is ongoing. Area : 44 km2 Volturnas A number off potential Prospect drilling targets have been Area : 48 identified. km2 Chronos Prospect The prospects…
New exploration potential There appears pp to be sufficient g gas to underpin an export gas development: Low-risk step-out step out Fortuna 1 to 2Tcf exploration Low-risk exploration 1 to 2Tcf New Exploration 0.5 to 5Tcf…
Liquefaction and export is the most likely commercialisation scheme. The selection of an appropriate development scheme will be essential given the water depth, depth location and existing infrastructure/stakeholders. Risk…
AI Absolute Inversion Integrated Production Profiles based on Field Development Concepts Gas Profiles for each Prospect LLING Sand/Shale Facies IC MODEL I t Integration ti off Uncertainty U t i t STATI…
Phase 1 Field Design Basis Ophir is committed to supporting the Governments Government s plans for a second liquefaction train (EGLNG2) as the preferred option to commercialise Block R FPU Vessel gas. Gas rates 250, 300 and…
It is important that a de elopment p development project oject is economically robust and this requires stable and equitable fiscal terms. terms Risk Mitigation 3: Fiscal Terms
Block R PSC terms are focussed on oil developments. A revised set of terms appropriate for a gas project are being negotiated. These will provide a win:win at a range off product d prices. i Sensitivity analysis shows that the…
Ophir O hi iis committed itt d tto supporting ti the th Governments plans for EGLNG2 as the preferred option to commercialise Block R gas. gas EGLNG2 presents challenges due to complex ownership arrangements and an extended…
Block R contains significant multi-Tcf volumes of gas within two proven plays. Reservoirs are in deepwater remote from existing infrastructure. Gas could be monetised via pipeline to Bioko Island or via FLNG. Feasibility studies…
55 Grosvenor Street APDO 274 464 Hay Street London W1K 3HY Ophir House Subiaco WA 6008 England Km 5, Carretera Aeropuerto Australia Malabo Tel +44 207 290 5800 Equatorial Guinea Tel +61 8 9212 9611 Tel: +240 333 09 84 74…
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