COO yvind Bratsberg CFO Alexander Krane Oslo, 14 August 2013
Highlights Jette production start Ivar Aasen & Gina Krog Debt financing Norvarg appraisal Johan Sverdrup exploration 4 new licenses in 22nd round 2
Operations and Projects
Jette on stream Jette has been an important fast-track Daily production from Jette development project for Det norske 18 000 16 000 14 000 Jette almost tripled Det norskes 12 000 production from Q1 to Q2 10 000 8 000 6 000…
Oil and gas production last 12 months 12000 10000 8000 6000 boepd 4000 2000 0 aug.12 sep.12 okt.12 nov.12 des.12 jan.13 feb.13 mar.13 apr.13 mai.13 jun.13 jul.13 Jette Varg Enoch Glitne Jotun Atla Sale Atla…
Ongoing projects increase production Ivar Aasen to lift production significantly Will help fund development project with pre-tax money, due to Det norskes tax loss carry forward position Johan Sverdrup will have long plateau…
Det norskes position on the Utsira High Johan Sverdrup PL 265: Det norske 20% Statoil (Op) 40% Petoro 30% Lundin 10% Johan Sverdrup Ivar Aasen PL 501: PL 001B/028B/242 Lundin (Op) 40% Det norske (Op) 35% Statoil 40%…
Ivar Aasen (Ivar Aasen CJ 70 Jack up taken out of dock on July 27th 2013)
Good progress on the Ivar Aasen project Milestones next nine months Project is on schedule Jacket construction to start in Q4 2013 Saipem to construct at the Arbatax yard Ocean bottom seismic survey this autumn Engineering ongoing…
Oil and gas pipelines Utsira High Gas Pipeline New pipelines Det norske 21 percent stake Capex NOK 1.6 billion gross Edvard Grieg Oil Pipeline Sture terminal Det norske 14 percent stake Capex NOK 2.1 billion gross Bergen New…
Ivar Aasen and Asha in PL 457 Ivar Aasen extends into PL 457 Asha appraisal well Asha discovery was made in December 2012 A pre-unitisation agreement was signed in March this year. The unitisation is to be decided on by June 2014…
Johan Sverdrup
Johan Sverdrup appraisal program Near Fault Margin 16/2-17S Gross oil column of 82 meter Excellent reservoir properties Very good production test 16/2-18 S results 16/2-16A 16/2-16 16/2-17 S Cliffhanger South and North 16/2-17…
Concept selection ongoing 2013 2014 2015 2017 2018 Concept selection Unitisation Construction Installation PDO First oil Concept selection key issues How many phases The size of each phase The timing between phases Concept…
Key financials Production (boepd) Q2 2013 Q2 2012 Production (boepd) Jette 3594 0 Jotun Atla 1446 0 Varg 3% 7% Varg 398 556 Atla Jotun Unit 175 210 26 % Glitne 0 243 Total production per day 5613 1042 Total production in period (Kboe)…
Exploration expenses 400 350 300 184 250 83 200 373 150 271 100 50 0 Q2 exploration Expenses from Net capitalized in Q2 Total exploration expenses previous periods expenditures 18
Statement of financial position Assets (NOK mill) 30.06.13 30.06.12 30.03.13 Intangible assets 3 446 3 112 3 295 Property, plant and equipment 2 651 2 267 2 487 Calculated tax receivables (long) 576 560 261 Receivables and other assets…
Available liquidity of NOK 3.9bn Net debt and liquidity position (NOK mill) Balance Sheet Current credit New loan in 14000 progress 12000 10000 8000 3 172 6000 4000 2000 0 -2000 Cash Tax refund Tax refund Revolving…
Exploration
Det norske is an active explorer 22nd licensing round in the Barents Sea Two operatorships Two partner operated licenses Exploration results in the 2nd quarter Excellent result from Sverdrup appraisal Dry well on Darwin in the…
Drilling plan through 2013 PL Prospect Net % Start mmboe Operator Rig 453S Ogna 25 Dry Lundin M.Guardian 502 JS Extension 22 Discovery App. Statoil O. Vanguard 531 Darwin 10 Dry Repsol T. Barents 265 JS Near Fault 20 Discovery App.…
PL 492 Gohta Drilling by Transocean Arctic Gohta Barents Sea between Johan Castberg and PL 492 Snhvit in the Barents Sea Potential gross resources: 72-151 mmboe Prospect information Triassic channels (Snadd Fm)…
PL 542 Augunshaug Drilling by Maersk Giant taking Augunshaug North Sea place 8 km from Gyda and 19 km from Tambar in the North Sea Potential gross resources: 10-80 mmboe Prospect information Targets in Upper/Middle Jurassic…
PL 551 Mantra/Kuro License located north of Troll Mantra/Kuro North Sea Potential gross resources: 35-750 mmboe Prospect information: Targeting upper Jurassic sandstone (Mantra), paleocene reservoir Troll field (Kuro)…
Outlook Field developments Expect concept selection on Johan Sverdrup in Q4 2013 Ivar Aasen on schedule - jacket construction to commence in Sardinia in Q4 Exploration Six exploration wells to come Mantra a large near…
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