2012 Operational and Corporate Results Dr Abdul Jaleel Al Khalifa, CEO
2012 Key Highlights Solid operational and financial results Reserves and resources organic growth for a third consecutive year Diversification continues: Final service contract for exploration Block 9 in Iraq signed Winning bidder…
2012 Gross Production Growth Solid 10% growth despite sand control issues, Average gross production now resolved 67,600 bopd At the lower end of 10-15% December 2012 average gross production 6.1 Growth over the total 14.3 gross…
2012 Drilling Results 2012 drilling programme Well Completion Depth Type of Initial test date (metres) completion rate (bopd) comprised 15 wells from Single 13-15 wells originally 13/140A January 2,237 2,123 sidetrack planned A/165…
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 Tendering to select contractors to construct four Offshore platform. platforms in the Dzheitune (Lam) field is ongoing Expect to…
Rig Deployment ANNUAL STATUS DRILLING CAPACITY Wells, Rig 40 Owned sidetracks Contracted until 4-5 wells Jack-up rig May 2015 Platform-based drilling rig. Contracted for 4-5 wells Land rig 1 another 3 wells Contracted…
Secondary Oil Recovery Pilot water injection project commencing shortly One well in the Dzheitune (Lam) 75 area converted into an injector-type well Similar activities in the Dzheitune (Lam) 13 area Potential to increase…
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 Approval from the Tunisian Hydrocarbons Consultative Committee for the…
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…
2012 Other Material Events Export of crude oil Appointments Marketing arrangements via Baku, Thor Haugnaess appointed Independent Azerbaijan secured until the end of 2014 Non-executive Director bringing oilfield for all export…
Investment in People Our Talent Training and Development Over 1,400 professional originating from In-house and external training 40 countries programmes with particular focus on 83% come from Turkmenistan national employees 235 new…
Investment in Communities - Polyclinic Major c.US5mn project completed: polyclinic building and related infrastructure Inauguration planned for March 2013 2011: concept stage. 2012: construction. 2013: completion. 15 Continuing…
2012 Financial Results Tarun Ohri, Director of Finance
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 Strong free cash flow USm 2012 2011 Change generation enables us Revenue 1,155.1 1,150.5 0.4% to continue with the Operating profit 790.9 856.2 (8%) development of the Cheleken Contract 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 realised…
2012 Cash Flow Cash and term deposits total US2,144mn as at Net cash from operations up 10% 2012 year-end and include: Capital expenditure in 2012 was US382mn and Term deposits of less than three US372mn cash outflow after movement…
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 Dr Abdul Jaleel Al Khalifa, CEO
2013 Outlook Production Rigs 13 to 15 wells and two workovers Jack-up rig to complete four wells Production growth at the lower end of the Leased land rig 1 to complete up to six wells; medium term guidance of 10-15% on average…
Medium-term Outlook Production Rigs and Platforms Around 20 wells per year in 2014 and 2015 Continue sourcing processes for additional Production growth of around 15% per year rigs in 2014 and 2015 Up to four platforms 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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