OIL SEARCH LIMITED 1 2012 Full Year Results Agenda 2012 Highlights Peter Botten Financial Overview Stephen Gardiner PNG LNG Project & Gas Expansion Peter Botten Exploration & Business Development Julian Fowles Operations…
2012 Full Year Results Agenda 2012 Highlights Peter Botten Financial Overview Stephen Gardiner PNG LNG Project & Gas Expansion Peter Botten Exploration & Business Development Julian Fowles Operations Review Richard Robinson Summary…
Progress on all Strategic Initiatives in 2012 Continued to support Esso Highlands in delivering PNG LNG Project Major success in resource build strategy, with Pnyang South discovery: Increasing probability Pnyang will help…
Steady Share Price Growth Have achieved steady share price appreciation over past five years Continued delivery of strategy should result in continued top quartile performance Share price (A, rebased to OSH) 10 9 8 Oil Search 7…
Safety Performance 9 Total Recordable Injury Frequency Rate of 2.64 for 2012 8 Australian Companies (APPEA) 7 TRI / 1,000,000 Hours 6.0 6 5.2 5 4.7 International Companies 4 (OGP) 3 2.64 1.96 1.85 2 1.75 Oil…
Operating Cash Flows Investment spending at highest level in Companys history, reflecting pursuit of growth initiatives. Investing cash outflows dominated by PNG LNG spend Funded by cash and PNG LNG Project finance facility draw downs…
Investment Outlook 2,500 USm Guidance Range Other PP&E 2,000 Production 1,861 US20 30m PNG LNG US170 190m Exploration & Evaluation 1,568 1,500 1,364 US1,500 1,600m 1,000 586 451 500 US240 280m 0 2008 2009 2010 2011 2012…
2012 Full Year Results Agenda 2012 Highlights Peter Botten Financial Overview Stephen Gardiner PNG LNG Project & Gas Expansion Peter Botten Exploration & Business Development Julian Fowles Operations Review Richard Robinson Summary…
Milestones achieved in 2012 PNG LNG Project 75% complete at year end Juha Gas Field Juha Production Facility *Existing Facilities 250 Mcfd 60km x 14 Completed construction of LNG tanks, jetty trestle and pipe gas line 60km x 8…
Hides Development and Appraisal Drilling PDL 1/7 Hides Field 8 New Production Wells Hides GTE Plant Drilling 2012+ Hides Nogoli Camp PDL 8 Angore Field 2 New Wells Hides Gas Conditioning Plant 10km Komo Airstrip PNG…
Timetable Continued early works Continue onshore Detailed design pipe lay Order long leads and Complete offshore pipe place purchase orders lay Open supply routes Start Hides plant Contractor mobilisation installation First Gas…
PNG LNG Plant Site Export Jetty 27 PNG LNG Plant Site Storage tanks 28
PNG LNG Project - Upstream South South Terminal North North Komo Airfield Terminal Komo Airfield Dec 2012 January 2013 31 PNG LNG Project - Upstream Rig 702 32
Gas Growth - PNG Highlands PPL260 PNG LNG Key strategic objective is to capitalise Project Gas on asset base being constructed by Hides NonResources PNG LNG PRL3 Juha North Wabag Gas Resources PNG LNG: 260 PDL8 PRL11 Angore…
2012 Full Year Results Agenda 2012 Highlights Peter Botten Financial Overview Stephen Gardiner PNG LNG Project & Gas Expansion Peter Botten Exploration & Business Development Julian Fowles Operations Review Richard Robinson Summary…
2013 Gulf of Papua Programme During 2013, planning to drill two firm offshore wells, with two options, to commence in March when Stena Clyde semi sub drilling rig arrives on-site first real test of the acreage Also will acquire…
MENA Exploration Middle East/North Africa strategy focused on oil opportunities that have material potential Two wells currently drilling, Taza and Semda. Both could have significant value impact on Oil Search Long term strategy is…
Semda-1 Tajerouine PSC, Tunisia 9E 11E Semda-1 Semda-1 well in Tajerouine PSC spudded January (OSH Tunis 100%) Targeting oil in the Cretaceous Serdj Dolomites and deeper sandstones (Bed Bars 36N Semda-1 and Sidi Aich) as…
PNG Production Juha PPL260 PNG producing fields are highly North Hides PRL PDL9 02 profitable and generate strong cash PDL1 PRL 11 Angore flows Juha PDL 7 PDL8 PRL 11 PPL277 Key objective is to minimise production decline…
2013/14 Development & Near-Field Appraisal Drilling Activity PPL260 PRL PDL9 02 Hides PDL1 PRL Angore 11 Juha PDL PDL8 PRL PPL277 7 11 6S PDL6 PDL5 PDL7 PPL233 Moran: 2013 : 2-3 wells, 1 workover PPL219 PPL233 Mananda 6…
Production Outlook Underlying production from oil fields Net Production (mmboe) Forecast Hides GTE expected to remain strong in 2013: 9 SE Mananda 8.12 SE Gobe Significant contributions from 2011/12 7.66 Gobe Main 8 development…
Mananda Appraisal & Development Mananda 6 appraisal well planned to spud 1Q13 More crestal location, 5km south east and 140m up-dip from Mananda 5 discovery Following recent seismic, estimated recoverable oil resource has increased…
Positioning for Growth Oil Search entering a phase of unprecedented growth and substantial change: First LNG sales will transform production and cash flows Supply of gas to PNG LNG brings new set of obligations Several potential…
Oil Search Production Forecast Net Production (mmboe) 30 PNG LNG (T1+T2) 25 Base oil production Hides GTE SE Mananda 20 SE Gobe Gobe Main Moran Kutubu 15 10 8.12 7.66 6.69 6.38 6.2-6.7 5 0 2009 2010 2011 2012 2013…
Appendix 1: Reconciliation of NPAT to Core Profit 2011 2012 (USm) Reported NPAT 202.5 175.8 Less Profit: Block 3 sale - (29.3) Gulf farm out - (9.3) PPL 260 Farm out - (3.4) Add back Loss: PRL1 Impairment - 19.2 Shakal Impairment…
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