Agenda Background on Afren Page 4 An established track record Page 9 Conclusions Page 23 Slide 3 Growth in East Africa
Afren plc Background on Afren Growth in East Africa www.afren.com
Afren an established independent upstream E&P Market Capitalisation Net 2P reserves and resources Net working interest production US2.6 billion 3,613 mmboe boepd 60,000 40,000 20,000 0 H1 2011 H2 2011 H1 2012 2P…
Committed to local partnerships and capacity building Partnerships with Governments and indigenous companies Governments Governments Governments Indigenous and NOCs and NOCs and NOCs Partnership Cte dIvoire Okoro field…
Afren today 29 assets held across 11 countries NIGERIA Working Local Operated Asset Interest Partner by Afren Afren East Africa Exploration Okoro Setu 50.0%2 Amni Ofa 50.0% IEL ETHIOPIA OPL 310 70.0% Optimum OPL 907 41.0%3 GEC…
A full cycle E&P business Diversified portfolio of high growth opportunities LEGEND Exploration 500 250-500 100-250 Appraisal 50-100…
Afren plc An established track record Growth in East Africa www.afren.com
An established track record Reserves and production growth Significant reserves & contingent resources growth Okoro fast track development Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 150 06 06 06 06 07 07 07 07 08 08 08 08 Agreement…
Okoro field Optimising production and maximising recovery 2010 gross production of 16,100 bopd Cost recovery achieved mid 2010 Two infill wells drilled Okoro-12 - Horizontal section completed over 1,511 ft of good quality…
An established track record Creating a new Nigerian production hub offshore south east Nigeria Slide 12 Growth in East Africa
An established track record Large scale production and development opportunity at OML 26 Production and development highlights 940 mmboe total gross reserves and resources Currently producing * Ogini and Isoko fields currently…
An established track record Committed to local partnerships and capacity building Innovative projects addressing the needs of our host communities Focused on building indigenous capacity Committed at all levels in the organisation…
What East Africa means to Afren A balance exploration portfolio with large scale prospectivity Net Prospective Resources 3,478 mmboe Ethiopia Sub Saharan 2 6 7 Africa 8 1,220 1 10A Kenya B L17/18 A Tnaga…
Why East Africa A relatively under-explored region Low relative drilling coverage West Africa 14,600 wells Central and North Africa 19,000 wells East Africa 480 wells Working petroleum systems Clear evidence that petroleum systems…
Kenya Block 1/Block 10A Several large structures have already been mapped Block 1 Large under explored sub-basin of the Tarbaj Oil Seep Ogaden Basin, continuous with the Calub, Intra Hilala and El Kuran occurrences Jurassic Intra…
Kenya - Blocks L17/L18 Prime acreage in an emerging play quick to monetisation SW Mombasa lead NE Near Top Cretaceous TWT Structure Map L17 W E Kenya Mombasa Onshore 2D seismic to be acquired in 2011 Mombasa East Lead…
Tanzania - Tanga block Farm in to attractive acreage contiguous with Kenyan blocks L17/L18 Miocene 10.5 Ma TWT Structure Map L18 Afren 74% (Operator) Block Petrodel 26% Prospect Gross prospective resources 10 km Orpheus 347…
Seychelles Blocks A,B,C October 2009 seismic has reduced risk Afren EAX Licences X/Y: Meters Area 200000 300000 400000 A 9500000 Area 9500000 B 9400000 9400000 Seismic Survey 9300000 9300000 9200000 Area C…
Madagascar - Block 1101 Large scale structures and a proven working petroleum system Block 1101 (40%) Sterling Antsiranana Deep Water Port AGIP 1970/71 EXXON 1-3 tcf gas EXXON Ambilobe EXXON Afren EAX Block 1101 Bemolanga…
Ethiopia - Blocks 2,6,7,8 (Ogaden Basin) Prime acreage in a proven basin Proven oil and gas basin with proven reservoirs, seals and candidate source rocks Condensate-rich gas in Calub and Hilala Petronas Calub and fields and…
Afren plc Conclusions Growth in East Africa www.afren.com
Afren today Well placed for further growth Strong production outlook on track for 40,000 boepd average for 2011 Forward work programme funded from internal cashflow Commitment to East Africa as major long term growth play;…
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