Key Highlights Solid operational and financial results in 2012 Reserves and resources organic growth for a third consecutive year Diversification progress: Final service contract for exploration Block 9 in Iraq signed Winning…
1Q 2013 Key Highlights The average gross production rate in 1Q 2013 was approximately 71,800 barrels of oil per day (bopd) March average gross production was approximately 74,000 bopd with the months exit rate at about 76,400 bopd…
Gross Production Growth 10% growth despite sand control issues in 2012 2012 gross production (resolved in 2Q 2012) Two wells completed in 1Q13; solid performance from 67,600 bopd existing wells At the lower end of 10-15% 7.7…
Reserves and Resources As at 31 December 2012 As at 31 December 2011 Proved and Probable Remaining Oil and Condensate Gas Oil and Condensate Gas Recoverable Reserves million barrels TCF million barrels TCF Gross field reserves to 1st…
Infrastructure Highlights Dzhygalybeg (Zhdanov) A and B platforms: drilling to commence in 2H 2013 Zhdanov A platform is being installed Zhdanov B is being fabricated in our yard in the Offshore platform. harbour area Plans to…
Rig Deployment STATUS Rig 40 Owned Jack-up rig 1 Contracted until May 2015 Platform-based drilling rig. Land rig 1 Contracted till the end of the year Contracted and to start drilling Land rig 2, 3 in 2H 2013 Jack-up rig…
Secondary Oil Recovery Pilot water injection project ongoing One well in the Dzheitune (Lam) 75 area converted into an injector- type well Constant water injection expected to commence in May 2013 Intermittent water injection…
Gas Monetisation Short-term arrangement to Long-term gas sales agreement, reduce flaring of gas targeted towards export markets, and strip condensate for sale 2013 2014-16 Tendering to select a contractor Gas Treatment Plant…
Diversification Tunisia Bargou Permit Joint Venture of Dragon Oil (55%), Cooper Energy (30% and operator) and Jacka Resources (15%) 4,616km2 shallow offshore Rig and well management services secured to drill the Hammamet West-3…
Diversification (cont.) Iraq Block 9 Consortium of Kuwait Energy (70% and operator) and Dragon Oil (30%) Basra province Final service contract signed 866km2 onshore 5-year exploration period to establish commerciality plus…
Diversification (cont.) Afghanistan Sanduqli Consortium of companies comprising Dragon Oil, Kuwait Energy, Turkiye Mazar-i-Sharif Petrolleri A.O. (TPAO) and the Ghazanfar Group selected as the winning bidder in onshore the…
Marketing of crude oil Export of crude oil Marketing arrangements via Baku, Azerbaijan secured until the end of 2014 for all export entitlement volumes Alternative routes may become available in two-three years time Crude oil…
Returning value to shareholders Regular dividends Share buyback Increased 2012 interim dividend US200mn returned to shareholders of 15 US cents 67% increase through a share buyback programme in over 2011 interim dividend…
Investment in People Our Talent Training and Development Over 1,400 professional originating In-house and external training from 40 countries programmes with particular focus Over 90% of workforce in Turkmenistan on national…
Investment in Communities - Polyclinic Major c.US5mn project completed: polyclinic building and related infrastructure Inaugurated and opened to citizens of Hazar and neighbouring towns, Turkmenistan 2011: concept stage. 2012:…
2012 Financial Results
2012 Financial Highlights Revenue Net profit Cash Balance US 1+bn US 600mn US 1.7bn Net of A&D Production growth Final dividend of Self-financing of capital 15 US cents per expenditure Stable realised oil prices share for 2012…
2012 Results Summary The average realised USm 2012 2011 Change crude oil price during Revenue 1,155.1 1,150.5 0.4% the year was approx Operating profit 790.9 856.2 (8%) US100 per barrel (2011: US101 per Net profit 600.0 648.4…
2012 Income Statement USm 2012 2011 Change Comments Revenue 1,155.1 1,150.5 0.4% Marginal increase attributable to a 2% increase in the volume of crude oil sold over the previous year offset by a 1% decrease in the average…
2012 Cash Flow Strong free cash flow generation enables us to Net cash from operations up 1% continue with the development of the Cheleken Capital expenditure in 2012 was US382mn Contract Area, execute value-enhancing and US372mn…
2012 Balance Sheet USmn 2012 2011 Comments Non-current assets Property, Plant & Equipment 1,529.6 1,353.9 Increase due to capital expenditure of US382mn offset by the and intangible assets depletion and depreciation charge Current…
2012 Capital Expenditure The Dzheitune (Lam) C platform. USmn 186 2012 222 160 382 Infrastructure Drilling 2011 165 186 351 Total capital expenditure for 2012: Drilling (42%) 15 wells completed Infrastructure (58%)…
Outlook
Outlook Production Drilling Production growth at the lower end of 13 to 15 wells and two workovers in 2013 10-15% on average per year in 2013 and and 20 wells per year in 2014 and 2015 around 15% in 2014 and 2015 Five rigs at the…
Outlook (cont.) Gas Tendering process to select a contractor to build a Gas Treatment Plant commenced Construction phase is anticipated to take two to three years after the contract is awarded Diversification Drilling in the…
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…
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