Field development Oliver Wambersie VP Developments
Field development Key messages Outstanding exploration performance Exceptional reservoir characteristics productivity and connectivity 6bn boe resource net to BG Group, upside potential 8bn boe Fast-track development plans,…
Field development From discovery to production World-class discoveries Fast track developments Lula first production within 4 years of discovery, excellent reservoir connectivity Sapinho early production EWT within 2 years of…
Field development The big 5 Santos Basin fields BM-S-11 (Round 2, 2000) Rio de Janeiro Petrobras 65% (Operator) BG Group 25%, Petrogal Brasil10% Declaration of Commerciality Lula: Dec 2010 Cernambi: Dec 2010 Iara: Dec 2013…
Field development World-class resources Oil production, mmbod Wells 3 2500 UK Northern & Central North Sea 2000 2 1500 Santos Basin 1000 1 fields** 500 0 0 0 5 10 UK Northern & Santos Basin Central North Sea fields**…
Field development Giant field reserves growth Examples of reserves growth for 11 giant fields from Norwegian continental shelf 5.0 4.5 Start of Statfjord - Norway production 4.0 Oseberg Reserves estimates billion boe…
Field development Early Cretaceous palaeogeography Barremian Aptian Salt Seal Lacustrine Source & Reservoir Modified from GETECH South Atlantic report 8
Field development World-class source, reservoir and seal Santos Basin Pre-Salt play, WE cross-section Post-salt Aptian evaporites Sag Lwr Rift U Rift Basement W E Great Salt Lake Modern Bioherms Coarse-grained…
Field development Improvements in depth imaging technology Lula structure Standard depth migration RTM depth migration Source: CGG Veritas 10
Field development Pre-salt development strategy & timeline Phase 0 information gathering 20102017 Long-term production tests Reservoir data acquisition wells First Lula module production Phase 1A production ramp up 20132017…
Field development Lula appraisal & optimisation 14 wells drilled; 4 ongoing Improved definition of volumes Improvement in reservoir quality Cernambi Deeper fluid contact than observed previously Improved quality of upper sag in…
Field development Lula de-risking development Oil production EWT objectives (bbls) 30,000 Prove sufficient volumes ahead of permanent FPSO installation 25,000 Reservoir connectivity Optimisation of producers/injectors 20,000 to…
Field development Lula development DoC end 2010 FPSO 1 production approaching 90 kboed 3 producers / 1 injector onstream Fourth well and WAG start-up in 2012 Demonstrates all technologies from sand face to market are working Lula…
Field development Lula first production Oil production (bbls) 80,000 P7 online 70,000 60,000 Lula Sul (P10) online 50,000 40,000 Gas injection Gas export start-up 30,000 started 20,000 P1 online 10,000 - Oct-10 Jan-11…
Field development Cernambi appraisal & optimisation 4 wells drilled; 1 well ongoing Appraisal data Good reservoir quality Low CO2 content, with positive impact on facilities Cernambi EWT Start-up imminent De-risking the…
Field development Cernambi development DoC end 2010 2 FPSO development Cernambi South Production start up 2014 FPSO 150 000 bopd oil capacity WAG capability Cernambi North FPSO contracted as part of 8 hull programme 17
Field development Iara appraisal Iara 2 wells drilled and tested 3rd well in progress in west Forward appraisal plans Planned EWT in 2013 4 km More appraisal wells DoC in Dec 2013 18
Field development Sapinho appraisal & optimisation 4 wells completed, 1 well ongoing Improved definition of volumes and reservoir quality PI 80-160 stb/d/psi Exceptionally high productivity Excellent reservoir communication…
Field development Sapinho de-risking development Oil Production December 2010 to July 2011 (bbls) 35,000 Proved very large connected volume 30,000 Proved high productivity reservoir 25,000 Production rates constrained by facilities…
Field development Sapinho development DoC accelerated from end 2012 to end 2011 Guar renamed to Sapinho after DoC Sapinho south area development Development drilling starts in 2012 1st production 2013 Gas pipeline via Lula to…
Field development Carioca appraisal 3 wells drilled and tested Improved definition of volumes and reservoir quality High reservoir productivity from EWT Further appraisal ongoing 4th appraisal well planned for 2012 EWT scheduled…
Field development Higher reserves & resources BG Group net reserves & resources* (bn boe) 10 Upside potential 5 0 2006 2007 2008 2009 2010 2011 *BG Group view, not the Operator or relevant Consortium 23
Field development Higher net production forecast BG Group net production (000s boed) Average recovery per well Almost doubled since 2008 600 Increasing net production forecast for 2020 450 From 550 to over 600* kboed 300…
Field development Santos Basin unit technical costs Very low unit technical costs Leased FPSOs Capex: 5/boe Opex: 9/boe Purchased FPSOs Capex: 7/boe Opex: 6/boe Highly economic developments, break-even price below 40/bbl…
Field development Key messages Outstanding exploration performance Exceptional reservoir characteristics productivity and connectivity 6bn boe resource net to BG Group, upside potential 8bn boe Fast-track development plans,…
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