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DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited

Oil Search Limited · Dec 10, 2004 · 40 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 1
    Oil Search Exploration & Oil Developments Update PNG Investment Conference December 2004
  2. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 2
    Agenda Background Exploration NW Moran Extended Production Test SE Mananda Development
  3. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 3
    Agenda Background Exploration NW Moran Extended Production Test SE Mananda Development
  4. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 4
    Exploration & Developments Background Oil production in PNG is declining Unless new production is brought on-line soon there is a risk that rapid unit operating cost increases will quickly force production shutdown Current projections…
  5. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 5
    Exploration & Developments Background (cont) Oil Search has been in PNG over 75 years We are committed to PNG and see a long future there ahead of us Since assuming Operatorship of the PNG oil production Oil Search has been actively…
  6. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 6
    Exploration & Developments Current Status Exploration Active ongoing programme Firming up new drilling targets NW Moran Discovered in October 2003 Due on line 1Q 2005 at 3,000 Bbls/day SE Mananda Discovered in 1991 Historically…
  7. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 7
    Agenda Background Exploration NW Moran Extended Production Test SE Mananda Development
  8. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 8
    Oil Search Licence Status PPL219 PPL239 PPL190 PPL240 PPL244 PPL188
  9. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 9
    Recent Exploration Activity Drilling of NW Moran 1 in Aug-Oct 2003 Drilling of SE Moran 1 in Jan-Feb 2004 Completion of seismic program 1 (48km) in PPL219 and PDL2, August 2004 Site construction for Kapul 1 well, PPL240, Jan- April 2004…
  10. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 10
    NW Moran PPL219 commitment well Untested structure with possible separation from Moran field
  11. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 11
    NW Moran mapping 728000 730000 732000 734000 736000 738000 740000 9314000 9314000 Moran Unit Potential forethrust NW Moran 1 ST4 Forelimb upside potential given -2 00 1 ST3 NW Moran 0 shallower dipping main thrust NW Moran…
  12. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 12
    SE Moran pre-drill
  13. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 13
    SE Moran strike line Moran 3x block Top Toro Critical risk was Whether or not this fault sealed
  14. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 14
    SE Moran reservoir pressures 2,000 Moran 3X Toro Moran 3x Toro Moran 2XST2 Toro 2,500 Kutubu 1X Moran 3X Digimu Moran 3x Dig Moran 2XST2 3,000 Depth, ft TVD subsea Moran 5 Toro 3,500 Moran 5 Digimu SE Moran 1x Toro…
  15. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 15
    2004 Seismic program 48km data in PPL219, PDL2 completed, data being processed and interpreted 70km data in PPL219, PPL190 underway Up to 300 personnel Key focus on HSES No LTIs
  16. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 16
    Seismic Phase 1 complete Define Mananda Attic drilling location Define Mananda Footwall lead Define Arakubi lead Infill information between Hedinia and Agogo Mananda Attic/FW Arakubi Compartment
  17. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 17
    Seismic Phase 2 currently underway New lines Existing lines Sago/Gobe FW Wasuma Wabi Define Wabi lead Define Wasuma lead Define Sago and Gobe Main FW leads Define Bilip Deep/Tabe leads Bilip Deep/Tabe
  18. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 18
    Kapul well Important test of foreland oil potential Learning from Kimu and Koko wells Toro and Iagifu reservoir targets 100mmstb potential New play with follow up opportunities Rig move 90% Spud imminent Planned TD early January
  19. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 19
    Kapul well, PPL 240 dip line Proposed Kapul-1 Toro Iagifu
  20. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 20
    Passive Seismic Pilot Study Passive seismic technique Using naturally-occurring (transmission) and induced (emission) microseismicity Has the potential: to develop a 3D model of subsurface velocity/structure to image active faults…
  21. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 21
    Forward exploration program PPL240 - Kapul 1 well TD in January Processing and interpretation of Mananda and Arakubi data ongoing feeding through to drilling schedule PPL219/PPL190/PDL4/SEG seismic program complete early January…
  22. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 22
    Forward Program - 2005 Drill Mananda Attic NW Moran EPT Seismic Phase 3 Gravity survey Seismic Drill Arakubi Phase 2 Drill Wasuma Drill Wabi Drill Kapul Seismic reprocessing Seismic reprocessing
  23. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 23
    Agenda Background Exploration NW Moran Extended Production Test SE Mananda Development
  24. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 24
    NW Moran Location
  25. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 25
    NW Moran Locality MANANDA HEGIGIO ATTIC GORGE MANANDA NW MORAN FOOTWALL SE MANANDA NW MORAN PIPELINE MORAN AGOGO CPF MORAN PIPELINE KUTUBU CPF
  26. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 26
    PPL 219, PDL 5 & Moran Unit Areas 1933 Moran Flow Line
  27. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 27
    NW Moran EPT Both Toro and Digimu are in communication with the Greater Moran Field, but there is some baffling Appraisal is being pursued by means of and Extended Production Test (EPT) to determine: Extent of baffling…
  28. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 28
    NW Moran EPT - Facilities Twin flowlines (production and gaslift) between NW Moran and Moran 4/6/9 bush run on H supports Production flowline from Moran 4/6/9 wellpad following road to the Agogo Production Facility (APF) New slug…
  29. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 29
    NW Moran EPT Current Status All required regulatory approvals are in place A Heads of Agreement with the local community supporting the work is in place Field construction is underway First oil due in 1Q 2005 This outcome will mean a…
  30. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 30
    Agenda Background Exploration NW Moran Extended Production Test SE Mananda Development
  31. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 31
    SE Mananda Locality MANANDA HEGIGIO ATTIC GORGE MANANDA NW MORAN FOOTWALL SE MANANDA MORAN SE MANANDA PROPOSED PIPELINE AGOGO CPF MORAN PIPELINE KUTUBU CPF
  32. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 32
    SE Mananda - Hegigio Gorge
  33. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 33
    SE Mananda Top Toro Most Likely Depth Map
  34. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 34
    Oil Field Developments SE Mananda Development Plan Four producers, including three new wells Initial production rate of 10,000 Bbls/day Total recoverable reserves approx 10MM Bbls Twin flowlines (production and gaslift) plus two…
  35. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 35
    SE Mananda Drilling Plan Top TORO C intersection
  36. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 36
    SE Mananda - Hegigio Bridge ADD 1 the lookout North Abutment 470m
  37. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 37
    SE Mananda - Hegigio Bridge
  38. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 38
    SE Mananda Commercial Issues The field has stood undeveloped for 13 years because the low reserves and technically complex development make the economics marginal The JV has been working constructively with the State to develop…
  39. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 39
    SE Mananda Current Status Regulatory approvals are close to finalisation A Heads of Agreement with the local community supporting the work is in place Design work is well advanced All main materials and equipment have been ordered…
  40. DECEMBER 2004 PNG INVESTMENT CONFERENCE – Oil Search Limited – slide 40
    Explorations & Developments Conclusions New production is vital to sustaining the industry and the economy NW Moran and SE Mananda offer near a term boost in production that will greatly assist maintaining the vibrancy of the industry…

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