Third quarter 2010 presentation TICKER - DETNOR - CEO Erik Haugane - VP IR Knut Evensen - VP HES Anita Utseth
Agenda: Highlights & production Financials Exploration Development projects Outlook & Summary Appendix 3
Highlights David gas and condensate discovery (PL 102C) Secured harsh environment rig to summer 2014 Currently drilling on Stirby and Dalsnuten Eleven exploration wells planned for 2011 7 North Sea, 2 Norwegian Sea and 2 Barents…
Production Production & realised oil prices Issues Boepd USD/bbl Third quarter production 3000 85 was 1 861 boepd 2500 80 Realised oil price 2000 USD 77.8 per barrel 75 1500 Planned maintenance on 70 Varg, Jotun and Glitne, 1000…
Agenda: Highlights & production Financials Exploration Development projects Outlook & Summary Appendix 6
Financial position as of third quarter net cash position as of Q3 Elements Total cash and tax receivables for refund in 2010/11: 4 980 MNOK 1 801 2 954 Interest bearing debt: Short term debt and convertible bond : 3 368 MNOK…
Profit & Loss Q3 2010 MNOK Q3 2010 Q2 2010 Comment Operating revenues 80.6 88.7 Reduced production and oil price No dry wells, partially offset by high seismic Exploration expenses 209.1 367.2 activity and G&G studies Change in…
Exploration expenses Q3 2010 MNOK Q3 2010 Q2 2010 Comment Seismic, well data, field studies, etc. 117.3 1.7 Exploration expenses from license 81.0 87.2 participation Expensed capitalized exploration wells 0.0 9.8 previous years Expensed…
Agenda: Highlights & production Financials Exploration Development projects Outlook & Summary Appendix 12
Secured rig capacity to summer 2014 Harsh environment rig for deepwater Norwegian Sea and the Barents Sea Flexible day rate structure USD 450 000/day below 500 meters USD 550 000/day in deep waters and the Barents Sea Tight…
Discovery on David in PL 102C Gas/condensate discovery 1 Bcm of gas proven 15 to 20 MBOE in estimated total recoverable volumes Potential development is a subsea tie-back David to Heimdal, via Byggve / Skirne The exploration…
Considering apprasial well to the north 25/5-7 28 m Gas potential upside 114 m gas or oil in Brent Brent Gp Statfjord Fm Pressure data indicates a deeper hydrocarbon column - gas or oil downflank Brent erosion
PL 341 Stirby currently drilling Large HTHP prospect East Brae, Miller and Gudrun analogue Recoverable gas/condensate Stirby Upper 150 MBOE High case Upper 800 MBOE Stirby Deep 190 MBOE Main risk Reservoir quality…
PL 392 Dalsnuten currently drilling Gross unrisked resources 600 MBOE Luva Asterix Main risk is the presence of reservoir License with several prospects PL392 Dalsnuten Deep water well - 1 446 meters Gro Drilling with Aker…
PL468 - Dovregubben Planned drilled in Q4 2010 with Aker Barents Located in Mre Basin close to Ormen lange Dovregubben Gross unrisked resources 100-220 MBOE Palaeocene play Main risk: Trap integrity Dovregubben Water depth…
PL482 - Skaugumssen Skaugumssen To be drilled by Aker Barents after Dovregubben Located on Dnna Terrace South East of Norne Gross unrisked resources 20-90 MBOE Jurassic play Well 6508/1-2 Main risk: Trap integrity Water…
PL522 - Gullris Planned drilled with Aker Barents after Skaugumssen Located in the Vring Basin Asterix Luva Gross unrisked resources 700-1700 MBOE PL392 Gullris Dalsnuten Upper Cretaceous play Gro Main risk: Trap…
PL 272 Krafla Planned drilled in Q2 2011 Located between Oseberg and Frigg Rotated Jurassic fault blocks Estimated gross unrisked resources Krafla 10-50 MBOE Krafla West dependent on presence of hydrocarbons in Krafla…
The 21st round applications submitted Applied for licenses in the Barents Sea and the Norwegian Seas Big prospects in new play models Det norske would like to see Barents Sea East and Barents Sea North included in the next…
Agenda: Highlights & production Financials Exploration Development projects Outlook & Summary Appendix 24
Fry PDO planned in 2011 WAG / SWAG depletion strategy revisitted Aims at PDO summer 2011 First oil summer 2014 Reserves Gross 60 MBOE Operator Det norske Det norske holds 50 percent 25
Draupne progressing according to plan Studying joint field development solutions with Lundin Petroleum, operator of the Luno field Draupne holds estimated gross recoverable reserves of 110 to 150 Mboe Draupne and Luno hold an…
Agenda: Highlights & production Financials Exploration Development projects Outlook & Summary HSE 27
Outlook & Summary Exploration Two high impact wells around the corner Dalsnuten and Stirby Reassessment of the exploration strategy. Establishing core areas on NCS 21st round application contains several large prospects and an award…
Its all about preparedness TICKER - DETNOR VP HSE Anita Utseth
Risk based management Planning is everything, but we have to be prepared. We integrate HSE and emergency preparedness in well design and planning Blow out analysis, Environmental risk analysis Emergency preparedness analysis Site…
Professionalism Challenges A competent and effective emergency preparedness organization Ensure adequate and competent resources for emergency situations Ensure continuity in emergency response tasks, training and exercises…
Its all about co-operation Initiated and established the Operators Association for Emergency Preparedness (www.offb.no) Professional non profit organisation Integrated part of the operators organisation Recognition of Emergency…
Oil Spill Contingency Membership in NOFO www.nofo.no Projects initiated by Det norske Co-operation of 25 companies Mapping of special areas (eg. The operators are responsible Lovunden and Vikna) Close cooperation with NOFO,…
Contingency plan for Dovregubben OFFSHORE RESPONSE Surveillance from helicopters, airplane, vessels and satellite Shipbased oil radar, IR-camera Mobilisation of Sintef within 48 hours Dedicated field system 8 oil spill combat…
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