OIL SEARCH LIMITED 19th CLSA Investors' Forum Hong Kong September 2012 1 Oil Search Profile Established in Papua New Guinea (PNG) in 1929 Market capitalisation US9 billion Listed on ASX (Share Code OSH) and POMSOX, plus…
Key Oil and Gas Fields, PNG Madang PPL260 Angore Pnyang PRL3 Porgora Wabag Gold Mine Juha 260 Hides Proposed Juha PDL8 Trapia PDL9 PRL11 Facility PDL1 Mt. Hagan Moran PPL277 6S Kundiawa PRL02 PDL6 Goroka Kiunga PDL7 233…
Strategy Delivery On Track Delivery of initiatives from 2010/11 Strategic Review on track: PNG LNG Project in full construction, on track for 2014 LNG sales Resource definition for LNG growth making good progress: Pnyang South…
PNG LNG Project Overview 6.6 MTPA, 2 train development, operated by ExxonMobil Over its 30-year life, PNG LNG expected to produce more than 9 tcf of gas and 200+ million barrels of associated liquids Initial Equities: ExxonMobil 33.2%…
Milestones achieved in 1H12 Completed 407 kilometre offshore pipelay Completed LNG tank shells and roofs and jetty trestle Commenced installation of pipe racks and vessels on both LNG process trains Onshore pipeline operations over 60%…
Hides Development and Appraisal Drilling PDL 1 Hides Field 8 New Production Wells Drilling 2012+ GTE PL 1 Hides GTE Plant Hides Nogoli Camp PDL 8 Angore Field 2 New Wells PDL 7 South Hides Hides Gas Conditioning…
PNG LNG - AG Projects TEG Dehydration Unit installation Upgrade of Kumul Marine Terminal New CALM Buoy at Kumul 19 PNG LNG Hides Gas Conditioning Plant 20
PNG LNG Rig 702 21 PNG LNG Komo Airfield 22
Summary Project progressing well Remains on track for first sales in 2014 Budget stable at US15.7 billion 2012 peak activity year for Project PNG LNG T1/2 23 Growing PNG Gas Business: Key Strategic Priority PPL260…
Pnyang South Pnyang South 1 and ST1 discovered 380 metre gas zone in southern fault block in PRL 3, with additional up-dip potential to 650 metres Result materially increases total estimated 2C gas resources in Pnyang field Potential…
Mananda 5 Appraisal 90 km 2D seismic programme over Mananda 5 discovery completed in 2Q12 Interpretation of seismic has confirmed structure Appraisal well, Mananda 6, planned for 1Q13 PPL 219: Oil Search 71.25%, JX Holdings 28.75%…
Kurdistan: Taza-1 Taza-1 well spudded early July, currently drilling ahead Large structure, simple 4-way dip closure, with potential for 250- 500 mmbbls Target structure sits in very prospective location on-trend and adjacent to…
Tunisia: Tajerouine Permit Semda-1 Location Semda Evaluation of seismic and well data complete, resulting in mapping of number of structures Proven plays present and new significant deep gas play developed Semda…
2012/13 Development & Near- Field Appraisal Drilling Activity PPL260 PRL PDL9 02 Hides PDL1 PRL Angore PPL277 11 Juha PDL PDL8 PRL 7 11 6S PDL6 PDL5 PDL7 PPL233 Moran: PPL219 PPL233 2012 : 1 well Mananda 5 2013 : 1 well,…
Treasury Update US852.7 million in cash at end June. Cash invested and actively managed with highly rated bank counterparties US217.5 million available from term revolving facility, nil drawn down Refinancing of existing corporate…
2012 Capital Outlook Update USm 1H12 2H12 FY12 Investing : Exploration inc gas growth 125 145-165 270-290 PNG LNG * 779 770-870 1,550-1,650 Production 39 80-100 130-140 Corporate (inc rigs) 2 8 10 Business Development 6 4 10…
PNG LNG Transforms Production Outlook Net Production (mmboe) 25 MENA Hides GTE SE Mananda 20 SE Gobe Gobe Main Moran Kutubu 15 PNG LNG T1/2 start-up 10 8.60 8.12 7.66 6.69 6.2-6.7 5 0 2008 2009 2010 2011 2012…
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