Lundin Petroleum in Norway WF11515 Press Presentation - ONS 2012
2 Lundin Petroleum in Norway Lundin Petroleum Strategy To grow a Norwegian independent E&P company through proactive exploration, production and growth Norway WF11515 p11 08.12
3 Norway - Successful Organic Growth LICENCES PEOPLE PRODUCTION RESERVES CONTINGENT boepd MMboe RESOURCES MMboe 696.9(1) 168.3(2) 23,300 160 56 13 13 0 0 0 2004 2012 2004 2011 2004 2011 end 2004 end 2011 end…
4 Norway Capital Investment - Net to Lundin CAPEX 2004-2011 NOK 10.2 billion DEVELOPMENT 2012-2015 NOK 15 billion Edvard Grieg Brynhild Byla EXPLORATION & APPRAISAL NOK 2.5 Billion per year = NOK 25 billion over the…
5 Norway Production Growth Future Exploration Success Johan Sverdrup Apollo Edvard Grieg Skalle Caterpillar Byla Brynhild Discoveries not included in +100% production forecast increase in production boepd 23,000…
6 Exploration in Norway - Organic Growth Major position built through organic growth Norway number of licences 60 55 50 45 40 35 30 25 20 15 10 5 0 03 04 05 06 07 08 09 10 11…
7 Norway - A Successful Organic Growth Story 865 MMboe of Reserves(1) and Contingent Resources(2) After tax finding cost of less than USD 1/bbl WF11415 p1 01.12 (1) Includes updated Brynhild equity interest (WI: 100%)…
9 The Southern Utsira High - A Sleeping Giant 0 KM 20 Oil APA 2012 Gas PL625 APA 2010 PL546 A 4th generation exploration PL501 APA 2009 and a major oil province 45 years after the first award: PL001 in 1965 Major…
10 Johan Sverdrup - A New Giant in Norway Edvard Grieg PL338 PL265 Geitungen - new exploration discovery 2 16/2-13S sidetrack currently drilling PL50 11 11A 7 7A OWC -1922m 4A 4 1 PL50 WF11497 p5 07.12 8…
11 PL501 - 16/2-13S Johan Sverdrup Appraisal PL546 PL501 16/2-2 PL501 licence: Lundin Petroleum 40% operator Partners: Statoil 40% , Maersk 20% Aldous Major North 16/2-9S 25 oil meter gross oil column in Upper and Middle…
12 PL265 - Geitungen Discovery (16/2-12) PL546 PL501 16/2-2 PL265 licence: Lundin Petroleum 10% Partners: Statoil (40%) operator, Petoro 30%, Aldous Major North Det norske 20%, 16/2-9S Estimated resources: 140 to 270…
13 Utsira High Exploration Area 2012 Exploration Drilling Johan Sverdrup discovery PL359 (Lundin 40% operated) Luno II prospect N Johan Sverdrup play type Edvard Grieg discovery So Reservoir: Upper Jurassic ut he Gross…
14 Southern Utsira High - Broadband 3D Seismic 0 2 KM 8 Lundin operated 3D on the Haugaland High : 2008 3D OBC 40 km2 over (Edvard Grieg) P625 PL546 2009 3D Geostreamer 1650 km regional 2 PL167&167B PL501 2011 3D…
15 Mre Basin Area - A New Core Area Lundin operated block Lundin non-operated block 2012 Exploration Drilling PL519 Lundin 40% (Operator) PL555 Lundin 60% (Operator) PL519 (Lundin 40% operated) PL579 Lundin 50% (Operator) PL631…
18 Bridging Enviromental Knowledge in the Barents Sea Ship wrecks and disposal sites Oil seep Deep water reefs Gas seep Plow mark Gas hydrate Bottom trawling Pock mark tracks Shallow gas Gas migration along fault…
19 Environmental Seabottom Mapping Oil slicks from satellite data Regional and high resolution 2D data Hugin Photos Released data and data bought from several Vendors PCable high resolution seismic Multibeam Echosounder and…
20 Brynhild - Development PL292B MARIA 0 KM 20 SEYMOUR PL292 Gaupe Lundin Petroleum Operator Lundin Petroleum Partner Lundin Petroleum interest: 70% (operator) SHELLEY PL292 PDO approved in November 2011 NORWAY…
21 Brynhild - Development Lundin Petroleums main contractors: Aker (SPS) Technip (pipelines and installation) Maersk Drilling (jack-up) Pierce topside modifications: Shell WF11515 p9 08.12
22 Utsira High Area - Edvard Grieg Development 0 KM 20 Lundin Petroleum interest: 50% (operator) PL036c Wintershall 30%, RWE Dea 20% PL203 Alvheim Area PL150B PL150 PL505BS 008 009 PL340 Plan of Development approved…
23 Edvard Grieg Development Project Production startup Oct 2015 Capital costs: 24 NOK billion Drilling 15 wells from jack-up rig 11 producers and 4 water injectors Contract award to Rowan companies Platform PdQ Jacket and…
24 Edvard Grieg Development - Main Contracts Jacket Contract - value 1 BNOK The jacket will be built by Kvrner Verdal under an EPC contract awarded in May 2012, delivery March 2014 Topside Contract - value 8 BNOK An EPC…
25 Edvard Grieg - Project Schedule 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q2 Q3 Q4 J F M A M J J A S 0 N D J F M A M J J A S 0 N D…
26 Organic Growth Strategy Find oil with the drill bit - organic growth Loppa High Area Leverage on organisational knowledge Portfolio synergy in relation to improved exploration and development Design yearly balanced…