OIL SEARCH LIMITED 1 Strong Long Term Share Price Performance 9.00 Share price (rebased to OSH) 8.00 7.00 Oil 6.00 Search 5.00 WTI oil 4.00 Santos Woodside 3.00 ASX 100 2.00 1.00 0.00 Jan 06 Jul 06 Jan 07 Jul…
OSH Strategies to Create Ongoing Value Optimise current oil and gas production: Through improved efficiencies and pursuit of near field opportunities Maximise value of PNG LNG Project (T1 & T2): By utilising in-country knowledge to…
PNG LNG Project Overview 6.6 MTPA, 2 train development, operated by ExxonMobil Over its 30-year life, PNG LNG expected to produce over 9 tcf of gas and 200+ million barrels of associated liquids Initial Equities: ExxonMobil - 33.2% Oil…
Focus items for 4Q11/early 2012 Community engagement Working with new Government to ensure continued alignment and delivery of obligations Wellpad and Hides spine road development Installation of new CALM buoy for Kumul loading…
PNG LNG Plant Site July 2011 February 2011 9 PNG LNG Plant Construction Process pipe rack construction Marine jetty piling 10
Largest OSH Drilling Programme Embarking on one of the largest drilling programmes ever undertaken, starting 4Q11 continuing through 2012, into 2013 Multi-TCF risked potential for gas and several hundred millions of barrels of oil…
PNG LNG Expansion Integrated exploration and appraisal drilling programme in the Highlands Results by mid/late 2012 Upside in Associated Gas fields: Detailed evaluation ongoing by Oil Search Targeting alignment with PNG LNG…
PNG LNG Expansion 10km Trapia 1 (PRL 11) Oil Search 52.5%, ExxonMobil affiliates 47.5% Exploration well scheduled for 1Q12 Series of prospects in area: Reasonable seismic but structural PRL11 uncertainty Juha Hides…
Gulf Area LNG Opportunity Prospectivity: Targeting 4Q for initial assessment of prospectivity across all licences Final views by year end Partnering: Discussions initiated and ongoing with potential strategic farm-in partners…
Kurdistan - Taza PSC PSC signed after exercising Jambur Option Agreement Oil Field Oil Search entry as Operator in extremely active Kor Mor Kurdistan Region of Iraq Gas Field Very prospective location adjacent to three fields Large,…
Oil Search Production Net Production (mmboe) 25 MENA Hides GTE SE Mananda 20 SE Gobe Gobe Main Moran Kutubu 15 10 8.60 8.12 7.66 6.2-6.7 5 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 21 2011/12…
Near Field Exploration Detailed review of near field exploration potential in and around existing producing fields as part of 2010 strategic review More than 25 opportunities identified. Recent successes support new structural model…
Hedinia 10 ST3 Discovery Hedinia 10 drilled beneath Kutubu oil field to test structure analogous to Agogo forelimb discovery (ADT 2ST3) Hedinia 10ST2 & 3 confirmed oil in Toro reservoir Preparations underway to Kutubu oil…
2011/12 Focus Areas Maintain OSHs industry-leading safety performance in high activity environment Strong commitment to cost effectiveness PNG LNG Project commitments driving operational developments: Deliver the Associated Gas…
Managing Operating Risk Oil Search has increased its focus on managing in- country issues Seen as key way to mitigate operating risk Expanded Sustainability Group is focusing on: Government/regulatory Promoting transparency Sovereign…
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