OIL SEARCH LIMITED 1 Investor Field Trip 28 30 March 2011 OSH PARTICIPANTS Peter Botten Managing Director Gerea Aopi EGM, External & Govt Affairs & Sustainability Phil Bainbridge EGM, Gas Growth Phil Caldwell EGM, PNG LNG…
Field Trip Route DAY 1 HIDES Ambua Lodge DAY 2 6S DAY 3 Mananda 5 Moran MORO CPF KOPI 8S PORT MORESBY 100km LNG Plant 144E 147E 3 Key Oil and Gas Fields, PNG Pnyang Madang LEGEND Hides Juha North…
DAY 1 Port Moresby Visit POM Tech training facility Visit PNG Plant Site Meet with PNG ministers and senior bureaucrats Overnight Airways Hotel 5 Port Moresby Technical College Both Construction Training Facility, to train up…
PNG LNG Plant Site - schematic 7 PNG LNG Plant Site - actual 8
PNG LNG Plant LNG facility located on State Portion 152 near Port Moresby 2 x 3.3 MTPA LNG trains LNG storage tanks at the facility LNG loading jetty off the coast for tanker ships to berth and load Supporting facilities and…
DAY 2 PNG Highlands Visit Kopi southern logistics base Visit Central Processing Facility (CPF) at Kutubu Associated Gas construction activities Overfly Moran Overnight Ambua Lodge 11 PNG LNG Project 12
PNG LNG Project Overview Main EPC contractors: LNG Plant: Chiyoda/JGC Offshore Pipeline Saipem Hides Gas Plant CBI/Clough JV Onshore Pipeline Spiecapag Infrastructure McConnell Dowell/CCC JV Early Works Clough/Curtain JV…
Activities in 2011 LNG plant Procurement, earthworks, foundations Commencement of structural steelwork, pipe racks Jetty works, tank foundations Offshore pipeline Continued procurement and mobilisation of pipe Preparations for pipe…
CPF Scope Of Work Associated Gas Delivery Enhanced dehydration by replacing existing gas driers to improve gas quality and reduce emissions Enhanced gas cooling for spec commissioning gas to LNG Plant AG Gas Management System by…
Construction Progress New Ridge accommodation units handed over and partially occupied EPCM Contractor, Aker Solutions, on site and undertaking pre- mobilisation activities Majority of key Construction Management personnel in place Early…
Timetable Continued early works Complete AG Detailed design Continue onshore Order long leads and pipe lay place purchase orders Complete offshore Open supply routes pipe lay Contractor mobilisation First Gas from Start Hides…
Growth Opportunities 25 PNG Gas Growth Key strategic priority for Oil Search is to grow gas business in PNG, with LNG the optimum commercialisation route PNG LNG will provide infrastructure, workforce capability and provide a…
Asian LNG Markets Outlook MMTPA 300 Other Malaysia 250 Singapore Thailand 200 China Chile Mexico West 150 India Taiwan 100 South Korea 50 Japan 0 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 Source: FACTS…
PNG LNG Resource Maturation Existing discoveries outside PNG LNG dedicated fields with high equity alignment: P'nyang: Seismic in 2011 scheduled to be completed in May Targeting drilling of commitment well in 1Q 2012 Exploration…
Gulf Area LNG Strategy Selected Gulf Area licences high graded: Proven hydrocarbon area Multiple play types Relatively untested Strategy: Secure broad licence position De risk with seismic and then potentially: Farmout to a…
Gulf Area LNG Licences GOBE PPL PPL339 339 Partner: Dabajodi Int. Energy Ltd. 7S 30% equity for carry on 2D seismic ELK 40% equity for partial carry carryon onwell well PPL 338 Partner: Dabajodi Int. Energy Ltd. 30% equity…
Mananda 5 Production Testing Update Toro A: Main Flow: 800 1100 bopd, GOR 650 scf/bbl, maximum of 20/64 choke Extended Flow: 1000 1200 bopd, GOR 900-1000 scf/bbl, choke 20-24/64. Maximum flow 1900 bopd, GOR 900 scf/stb, choke size…
MENA Exploration Tajerouine + Le Kef K42 & Shakal Tunis Office - Recently completed 600km 2D - Recently completed 200km of - 2 commitment wells by 2Q 2012 2D in K42 and 50km of 2D in Shakal - Interpretation underway Dubai…
Production Summary 41 World Class Safety Performance Total Recordable Injury Frequency Rate Data (per Million Hours Worked (All Reported Data)) 2009 2010 Fletcher Building CSR CSR Brambles Hastie Group OZ Minerals James…
Oil Search Production Net Production (mmboe) MENA 10 Hides GTE SE Mananda 8.60 SE Gobe 8.12 Gobe Main 8 7.66 Moran Kutubu 6.2-6.7 6 4 2 0 2008 2009 2010 2011 2012 2013 (Forecast) 43 FY10 Performance World…
Reserves at 31 December 2010 No external reserves audit was completed this year: Field production performance consistent with predictions through 2010 Following sanction of PNG LNG Project, 301 mmboe (1P) and 505 (2P) mmboe were…
2011/12 Development & Near- Field Appraisal Drilling Activity PPL260 PRL02 Hides PPL239 PDL1 PRL11 Juha Angore PRL 12 6S Moran: PRL12 PDL6 PDL5 2011 : 1 well PPL233 APPL350 2012 : 1-2 wells PPL219 PPL233 Kutubu: SE Mananda…
Key 2011 Focus Areas Maintain OSHs industry-leading safety performance in a high activity environment Continue to build sustainable combined oil and gas business Strong commitment to cost effectiveness PNG LNG Project commitments…
Strategic Review Key Conclusions of Review: Past reinvestment in PNG has created significant value (more than 30 fold increase in market cap since 1992, 4 fold increase since 2005) OSH has asset base and primary skills to deliver…
Strategic Review 4. Gas Resource Accumulation for LNG Opportunities Develop third party gas strategy Resource build for T4 underwriting Includes Offshore Gulf exploration and appraisal Measured acquisitions and aggregations 5. Ensure…
Sustainability Group In light of increasing value of PNG assets going forward, OSH seeking to further enhance its focus on managing PNG sustainability issues (traditionally an area of strength) New Sustainability Group has been formed:…
Comprehensive Approach to Sustainability Oil Search Enhanced Focus PNG Stakeholder Engagement Government Landowner Leaders and Community Engagement Bureaucracy capability enhancement From village to Port Moresby outside the fence…
2011 Outlook PNG LNG Project delivery underway: Project ramp up continues at accelerating pace: Commencing construction at PNG LNG plant site, HGCP and Komo Associated gas and life extension projects Focus on management of in…
Summary Company fully focused on delivery of Major Strategic Initiatives Oil field performance remains strong, costs are tightly controlled. Impacted by associated gas construction PNG LNG T1/2 construction underway Timing and…
OIL SEARCH LIMITED 65 Appendix Brent Premium over Tapis - July to December 2010 14.0 12.0 10.0 8.0 USboe 6.0 4.0 2.0 0.0 Jul Aug Sep Oct Nov Dec (2.0) (4.0) (6.0) Lifting dates Oil Search began…
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