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JUNE 2014 OPERATIONS UPDATE – Oil Search Limited

Oil Search Limited · Jun 10, 2014 · 28 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. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 1
    Oil Search Update June 2014 Oil Search Limited ARBN 055 079 868
  2. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 2
    Oil Search Licence Interests, PNG Pnyang Juha North PPL260 Hides PNG LNG Project PRL3 Juha Gas Fields Angore 260 PDL8 PNG LNG Project PDL9 Moran Facilities Proposed Juha PDL1 PPL277 Facility Agogo PDL7 233 PDL6 PDL5 Non…
  3. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 3
    Corporate Transformation Underway Oil Search is in excellent position to build further value for shareholders. Platform of unprecedented strength: PNG LNG Project sales commenced in May 2014. Transforms OSH into significant LNG exporter…
  4. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 4
    Core Strategies Have Delivered Steady Long-Term Share Price Appreciation Manage transition PNG LNG production to PNG LNG Project PNG LNG FID PRL 15 and sales 10 acquisition commence 9 8 Acquisition of Share Price (A) 7…
  5. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 5
    PNG LNG Project 5
  6. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 6
    Project Update PNG LNG Project Train 1 commenced production in April, Train 2 in May, both ahead of schedule Ramp up to full capacity (6.9 MTPA) in progress LNG shipments to Asian markets commenced late May, with first cargos being…
  7. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 7
    PNG LNG first shipment delivered to TEPCO, Japan Spirit of Hela 7
  8. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 8
    PNG LNG Plant site Feb 2011 Feb 2014 8
  9. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 9
    Jetty Jun 2011 Nov 2013 9
  10. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 10
    Offshore and Onshore Pipelines Offshore Pipeline Laying Highlands pipeline Pipeline rehabilitation, March 2014 Pipeline burial 10
  11. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 11
    Associated Gas (CPF) Nov 2010 PNG LNG Project Facility Major Road Feb 2013 11
  12. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 12
    Komo Airfield Dec 2010 First Antonov 124, May 2013 Nov 2013 12
  13. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 13
    Hides Gas Conditioning Plant Dec 2010 Aug 2012 Mar 2014 13
  14. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 14
    Drilling Rig 702 Rig 703 14
  15. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 15
    Gas Growth Strategy Juha North (24.4%) PPL260 Hides Oil Search looking to Pnyang PRL3 Angore leverage existing LNG (38.5%) Juha infrastructure and skills 260 PDL8 PDL9 Moran Proposed Juha Facility PDL1 PPL277 PDL6 PDL5…
  16. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 16
    Hides Drilling Hides 5 Hides G Hides 1 Hides 2 Hides 3 Hides 4 PDL 1/7 Hides Field 8 New Production Wells Ieru Hides GTE Hides Nogoli Hides Plant Camp 5 Hides Well PDL 8 Angore Field Toro Pad G 2 New Wells Koi-Iange 5km…
  17. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 17
    Pnyang - PRL 3 Key resource to support potential growth from PNG LNG: Total 2C recoverable gas resources in Pnyang field of 2.5 tcf Concept selection work well advanced engineering, environmental and social mapping Development…
  18. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 18
    Elk/Antelope - PRL 15 Pnyang Juha North PPL260 Hides PNG LNG Project 22.8% gross interest in PRL 15, Gas Fields PRL3 Juha 260 Angore containing Elk/Antelope gas PNG LNG Project Proposed Juha Facility PDL9 PDL8 Moran…
  19. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 19
    Strong production from PNG oil fields PPL260 PDL9 Juha North Reservoir performance from Juha PDL1 PRL 11 key oil fields remains strong PDL7 PDL8 PRL PPL277 11 Angore Hides PDL7 PPL233 Continued success of Mananda 5,6 & 7…
  20. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 20
    Production Outlook Total production guidance for 2014 Net Production (mmboe) increased from 14.5 17.5 mmboe to 30 PNG LNG (T1+T2)(1,3) 17 20 mmboe, due to Hides GTE(3) SE Mananda commencement of LNG production 25 Gobe from Train 1…
  21. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 21
    Oil Discovery at Taza, Kurdistan: Appraisal Underway TURKEY TURKEY Caspian Tawke Sea 37N KURDISTAN REGION Shaikan OF IRAQ Erbil Office IRAN Sulimaniyah Office KURDISTAN SYRIA Taza PSC IRAN 36N Taq Taq JORDAN IRAQ…
  22. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 22
    Oil Discovery at Taza, Kurdistan: Appraisal Underway Taza 2 appraisal well has found oil in Jeribe, Dhiban and Euphrates Formations. Presently drilling towards deeper Shiranish Formation, not Jambur Kor Mor penetrated by Taza 1 Taza…
  23. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 23
    Positioning for Next Phase of Growth Major Strategic Review underway to set objectives and programmes for Oil Search over next five years Review will analyse: Asset values and ways to capture full value Balance of asset portfolio to…
  24. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 24
    Summary Oil Search has unprecedented platform for further growth: Delivery of PNG LNG will more than quadruple production 2013 2015: Delivers material cash flow to invest in high returning projects and fund higher dividends Assets…
  25. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 25
    Appendix 1: Key metrics Production (mmboe) NPAT (USm) 8.1 7.7 6.7 6.4 6.7 202.5 205.7 185.6 175.8 133.7 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Oil Price (US/bbl) DPS (US cents) 116 114 111 76 65 4 4 4 4 4…
  26. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 26
    Appendix 2: Treasury Update Total liquidity of US711.2 million at end 1Q14 Cash (USm) comprising US411.2 million cash and US300 1,289 1,265 million available under non-amortising corporate 1,047 revolving facility 488 411…
  27. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 27
    Appendix 3: Investment Outlook USm 2,000 Other PP&E 1,861 1,800 Production 1,673 Guidance Range PNG LNG 1,568 1,600 (US1,175 1,415m)1 Exploration & Evaluation 1,364 1,400 US25 35m 1,200 US100 130m 1,000 800 US650 800m…
  28. JUNE 2014 OPERATIONS UPDATE – Oil Search Limited – slide 28
    Appendix 4: 2014 Guidance Summary Previous Guidance Updated Guidance Production Current operations (oil and GTE) 6.4 6.9 mmboe1 6.4 6.9 mmboe1 PNG LNG Project LNG 34 43 bcf 45 57 bcf Liquids 1.5 2.1 mmbbl 1.7 2.0 mmbbl Total PNG LNG…

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