PARETO SECURITIES 18th ANNUAL OIL & OFFSHORE CONFERENCE DETNOR August 2011 Erik Haugane, CEO Det norske oljeselskap ASA
Det norske entering a new era Listed on Oslo Stock Exchange USD 1 bn market cap Cash positive balance sheet with MNOK 900 in liquidity About 1,600 boe/day in net production from four producing fields Varg, Jotun, Glitne and Enoch…
Aldous Major South Aldous the largest offshore oil discovery in the world this year, Statoil EVP Exploration Tim Dodson Aldous, including Avaldsnes and Aldous North, may contain more than 1 billion barrels Aldous is thus a company maker…
Aldous confirms the NCS attractiveness Volumes 400-800 MBO With further upside Det norske holds 20% Oil column 65 meter Excellent reservoir properties More than 90% net High oil flow potential Shallow waters 112 meters…
High-quality reservoir properties Oil sipping out of the core Unconsolidated sandstone High quality oil Sand in oil 6
Aldous North beeing drilled now Aldous Major North Basement in PL 265 Aldous North will be drilled back-to-back. Large volumes also in basement To be spudded medio August Production test in 16/1-15 A Tellus well Potentially significant…
Resource growth MBOE 450 400 Mid point of estimate range 350 100 percent growth in undeveloped resources (mid- 300 point estimate) 250 200 150 The Norwegian Shelf 100 is an attractive 50 exploration province 0 and new…
Krafla/Krafla W high-value discoveries Gross reserves of 50 80 MBOE Net to Det norske 12.5 to 20 MBOE Probably a fast track development 16 kilometres from Oseberg Low capex per barrel W 30/11-8S E Very good reservoir…
Norvarg - a Barents Sea gas discovery Gross reserves of 63 315 MBOE Net to Det norske 12.5 to 63 MBOE Successful production test Stable flow rate of 180 000 m3/day Operator - Total 7225/3-1 Det norske 20 percent 7225/3-1 N…
More high-impact wells lined up in 2011 PL Prospect & (operator) Net Drilling Gross % Start resources Skaugumsen Mboe 265 Aldous North (Statoil) 20 Ongoing 100-300 482 Skaugumssen (DN) 65 Ongoing 20-90 356 Ulvetanna (DN) 50 Q3 70-250…
Development portfolio Discoveries Production forecast Krafla Fulla East Frigg Storklakken Fry Atla Jetta Stavanger Draupne Aldous Major Dagny Grevling Discovery Det Norskes Mill boe Net boe/day Possible concept Operator…
Atla PDO submitted near-term production Total submitted a PDO for Atla in July Subsea tie-back via Skirne to Heimdal Atla First gas/condensate scheduled for October 2012 Potential plateau volumes of 1 000 boepd net to Det…
Approaching PDO on Jette PDO submission next week 13,9 mboe recoverable reserves Subsea to the Jotun field Partners: Petoro, Dana and Bridge Production drilling starts in May 2012 Subsea installation in August 2012 First oil 1Q…
Draupne a large North Sea development P50 resources 143 mboe 112m water depth Concept selection in September PDO in 2012 First oil in 2016 Operator Det norske Det norske 35% Statoil 50% Bayerngas 15% 16
Financing Net pre tax income at todays oil price The first tie-in projects have very low Krafla operating costs and will generate a significant cash flow Jette 480 mill NOK in new equity announced today Existing cash and…
Outlook and Summary Exploration Added more than 150 MBOE in resources this year Det norske has created a large project portfolio through the drill bit Main activity in mature areas, but also new venture exploration Projects - that…
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