1 Investor Field Trip 28-30 March 2012 OSH PARTICIPANTS Peter Botten Managing Director Gerea Aopi EGM, External & Govt Affairs Phil Caldwell EGM, PNG LNG Project Richard Robinson EGM, Operations Ann Diamant Investor…
Field Trip Route Ambua Lodge Mt. Hagan DAY 1 HIDES Trapia Kundiawa DAY 2 Goroko DAY 3 6S Mendi Mananda 5 Moran MORO CPF Lae GOBE Kerema 8S PORT MORESBY Daru 100km LNG Plant 144E 147E 3 Key Oil and Gas…
DAY 1 Port Moresby Visit LNG Plant Site Oil Search Health Foundation launch, Gateway Hotel Overnight Airways Hotel Port Moresby, Papua New Guinea 5 PNG LNG Plant Site - Schematic 6
PNG LNG Plant Site - Progress February 2011 February 2012 7 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…
LNG Facility Location Schematic of LNG facility site and loading terminal 9 DAY 2 PNG Highlands Presentations on PNG LNG Project and Gas Growth View PNG LNG pipeline Presentation on production and near field exploration,…
PNG LNG plant site 11 PNG LNG Project Overview Hides Wabag Oil Field Juha Wells Gas Field Facility EPC4 Hides Gas Prospect Conditioning Mt. Hagan Oil Pipeline 6S Plant Proposed Kundiawa C1 HGCP Goroka Gas Pipeline…
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…
Milestones achieved in 2011 - Upstream Commenced construction activities at Hides Gas Conditioning Plant (HGCP) including commencement of piling work Good progress at Komo, with significant improvement in earthworks and installation of…
2012 Landslide Major landslide occurred at Hides in January 2012 PNG Governments National Disaster and Emergency Relief Office managed incident Esso Highlands and Oil Search provided support/assistance to local community PNG LNG…
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 First Gas from Contractor mobilisation Start Hides…
Angore Anticline, Southern Highlands 23 23 Gas Growth & Exploration Key strategic priority for Oil Search is to grow gas business in PNG Pursuing a two pronged strategy: PNG LNG Expansion Gulf Area LNG Focus on resource…
Global LNG Markets Outlook Global LNG contracted supply Global LNG supply/demand outlook 450 and demand balance 600 mmtpa mmtpa Global Demand 400 500 Speculative 350 400 300 Possible Other 250 U.A.E. Yemen 300 Probable…
Trapia 1 10km Juha Hides Trapia PPL 277 Pnyang South 6S Moran Angore Kutubu Agogo SE Gobe PPL 277 8S 100km 142E 144E Trapia exploration well scheduled to follow Pnyang South PRL 11: Oil Search 52.5%,…
Gulf Area LNG Opportunity Turbidite 2D Seismic High quality 3D dataset Lines Sands Sheet assembled 6 independent play types identified to date, each analogous to proven play types elsewhere: Submarine fan & channel play types…
Gulf Area Partner Strategy Partnering: Opportunity for partner to gain material country entry position Data room opened, several highly credentialed parties have been through, strong interest expressed Targeting partnering deal mid…
Safety Performance Total Recordable Injury Frequency Rate of 1.85 in 2011 Australian Companies TRI / 1,000,000 Hours (APPEA) International Companies (OGP) Oil Search 33 Australian Safety Benchmarking…
Oil Search Production (existing fields) Net Production (mmboe) Gobe Main Hides GTE 10 Moran SE Mananda Kutubu SE Gobe 9 8.12 8 7.66 7 6.69 6.2-6.7 6 5 4 3 2 1 0 2009 2010 2011 2012 2013 2014 (Forecast) 35 FY11…
Hedinia 10 and Agogo 6 Complex and invisible - highly successful near-field exploration to date Kutubu oil field Agogo oil field ST3 ST2 ST1 Sub-thrust Sub-thrust forelimb forelimb 37 2012/13 Development &…
2012 Production Outlook Underlying production from oil fields expected to remain strong, with 2012 production impacted by: Significant contributions from successful 2011 wells and workovers Natural decline 16 day shutdown for tie-in…
Associated Gas & Related Projects (AGRP) Oil Search, as oil field Operator, is responsible for development and operation of facilities required to deliver oil field gas into PNG LNG Project and receive Project Condensate Key objectives…
CPF Scope of Work NEW CONTROL ROOM PRODUCTION / REINJECTION Overall CPF ETC * early Q2/13 As at March 2012 Control Room Building WELLHEAD SCOPE completed Q1/12 Wellhead footings and COMMISSIONING GAS SKID earthing in progress Piping…
PL 2 Life Extension Project Project to extend operating life and build more comprehensive management systems for PL 2 Liquids Export System: Replace existing CALM buoy Install new tanker loading line between platform and buoy…
47 Kurdistan Region of Iraq - Taza PSC Material prospect in one of Jambur worlds hottest exploration Oil Field regions Oil Search operator with WI of Kor Mor 60%, ShaMaran 20%, KRG 20% Gas Field Very prospective location adjacent…
Taza Seismic Taza 1 Five regional Proposed Location reservoir targets: SW NE Jeribe Euphrates/Serikagni Upper Fars Kirkuk Group Lower Fars Jaddala Saliferous Shiranish Estimates of recoverable Khor Mor Gas Field resources in…
DAY 3 PNG Highlands Overfly Trapia, HGCP, Komo Visit Hides camp at Nogoli Presentations on PNG Issues, Summary Overfly Mananda 5, SE Mananda To Port Moresby Tagari Valley - Hides, Southern Highlands 51 Well head and…
PNG Issues PNG has experienced unprecedented political uncertainty over past 6 months: No impact to operations Continued progress on all projects Security and safety of staff paramount Election in June 2012 with new government formed…
2012 Outlook Peak activity year for PNG LNG Project delivery in 2012: Construction at PNG LNG plant site, HGCP and Komo Completion of Associated Gas and life extension projects Focus on management of in-country issues Major drilling…
Oil Search Production Outlook Net Production (mmboe) 25 MENA Hides GTE SE Mananda 20 SE Gobe Gobe Main Moran Kutubu 15 10 8.60 8.12 7.66 6.69 6.2-6.7 5 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018…
2012 Investment Outlook USm 2011 (A) 2012 (F) Investing : Exploration inc gas growth 145 240 280 PNG LNG 1,287 1,650 1,750 Production 129 130 150 Corporate (inc rigs) 7 10 Business Development** 10 7 Financing : Dividends 0*…
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