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GAS COMMERCIALISATION UPDATE – Oil Search Limited

Oil Search Limited · May 28, 2007 · 23 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. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 1
    Gas Commercialisation Update - May 2007
  2. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 2
    LNG for PNG Major growth in global LNG market and strong increase in gas prices over past 2 years makes LNG in PNG attractive Unprecedented interest from range of LNG developers PNG has all the requirements for LNG development:…
  3. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 3
    Pnyang Juha Angore Mogulu Existing gas fields, gas Iehi Korobosea exploration Barikewa Kimu and appraisal opportunities Uramu Pandora
  4. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 4
    Gas Resources (Gross PNG) Recoverable Gas (bcf) Elevala 30,000 Ketu Pandora Recoverable Gas (bcf) 25,000 Uramu Kimu Barikewa 20,000 P'nyang Yet to Find Angore 15,000 Juha Hides 10,000 SE Gobe Gobe Main 5,000…
  5. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 5
    Gas/LNG Prices Have Risen for Five Distinct Reasons: 1. Higher oil prices mean higher natural gas prices directionally, though gas prices are capped by competition from coal and nuclear at the burner tip, especially in the longer…
  6. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 6
    LNG Supply Becomes More Fluid Actors are becoming Contracted LNG Supplies in the World increasingly integrated on 300 the supply chain. Historical roles of seller or 250 buyer are fading away in the Atlantic Basin. Portfolio…
  7. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 7
    Interactions Between East and West: The Implications for Trade and Prices Middle East Atlantic Basin New supplies from Asia Pacific can move in 2 directions within Asia and to the US West Coast Supplies from the Middle East…
  8. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 8
    Three Distinct in LNG Pricing Phase 1 Legacy Contract Phase Sellers market Significant link to oil prices Korea/Taiwan 10/mmbtu Japan US7.40 US8.80 Most expire 2010-11 Lasted through 2001 Phase 2 Low Price Phase Buyers market…
  9. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 9
    US Oil & Gas Price Convergence Prices of Natural Gas (HH) Versus Selected Products US/boe 90 80 70 60 HH 50 40 Gasoil 30 20 10 Fuel oil 0 0 1 2 3 4 5 6 8 9 0 1 2 3 4 5 6 7…
  10. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 10
    S ep -9 2 4 6 8 9 11 13 15 17 19 21 M 2 ar -9 S 3 ep -9 M 3 /mmbtu ar - S 94 ep -9 M 4 ar - S 95 ep -9 M 5 ar -9 S 6 ep -9 M 6 ar -9 S ep 7 -9 M 7 ar -9 S 8 ep -9 M 8 ar - S 99 ep -9 M 9…
  11. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 11
    Comparative LNG Pricing LNG (/mmbtu) 14 12 Crude Oil Parity 10 NWS Recent Contracting 8 6 NWS Traditional Contracting 4 2 0 15 20 25 30 35 40 45 50 55 60 65 70 JCC (/b) Source: FACTS Global Energy
  12. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 12
    The LNG Chain Gas Supply LNG Plant Gas Conditioning Liquefaction Transportation Regasification Regasification Transmission Distribution Market Consumers
  13. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 13
    Indicative Shipping Costs US1.60 1.80 US1.10 1.30 US0.50 0.75 US1.20 1.40 Based on 145,000m3 vessels chartered at 60-70,000/day
  14. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 14
    LNG for PNG Competition to develop first plant Several development approaches being reviewed and matured ExxonMobil model - total value chain approach upstream, pipeline, plant, marketing/shipping Merchant plant approach…
  15. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 15
    Key Fields Hides / Angore Fields (OSH 27.5%) 6.5 tcf of Proven and Probable resource Kutubu Complex Fields (OSH - 60.0%) 1.5 tcf plus liquids, largely developed Key strategic resource and infrastructure hub, high value Juha Field…
  16. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 16
    LNG with ExxonMobil ExxonMobil review indicated a economically robust LNG project from Hides/Angore fields Economics are enhanced if other fields (Juha, Kutubu) included Cost sharing agreement to conduct feasibility study signed in…
  17. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 17
    Full Foldbelt 6.3Mtpa ExxonMobil LNG Option Estimated Capital Juha 250 mmscfd (nominal) Cost (USbn): Hides & 960 mmscfd Conditioning Plant Angore - Upstream & 8-inch condensate line Pipeline 5.0 66 km 14-inch gas line Kutubu &…
  18. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 18
    LNG for PNG OSH and BG have been working since mid-2006 on evaluating LNG development options. Studies have included: Resource base Capital costs for 3.5 mtpa initial train plus expansion Reviewing ideal project structure BG…
  19. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 19
    Liquefaction Plant Costs 800 Greenfield PNG ExxonMobil -To be Optimised 700 Gorgon Brownfield Pluto 600 PC Phillips Cascade Estimate for Bechtel (BG) Yemen Olakola 500 NLNG Base NLNG PC EG NLNG /tpa Tangguh Gassi…
  20. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 20
    LNG for Oil Search OSH objectives: Number of credible development options with excellent partners Striving for early development certainty and best long term value Excellent position in all major fields with likely interest around…
  21. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 21
    Other Complementary Gas Activities Significant expansion of appraisal and exploration programme for gas, aimed at increasing contractable gas Juha wells Kimu Korobosea Barikewa Potential Juha development despite J-5 results,…
  22. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 22
    PNG Exploration Juha Oil exploration 40-50 mmbbl net risked NW Paua reserves being tested in 2007 Kutubu, Gas - Co-ordinated programme Arakubi to add reserves to support Mogulu commercialisation projects Cobra Mananda Attic PNG…
  23. GAS COMMERCIALISATION UPDATE – Oil Search Limited – slide 23
    OIL SEARCH LIMITED

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