November 2011 1 Investor Field Trip 9 11 November 2011 OSH PARTICIPANTS Gerea Aopi EGM, External & Govt Affairs Phil Caldwell EGM, PNG LNG Project Paul Cholakos EGM, Project Development Ann Diamant Investor Relations Manager…
Field Trip Route DAY 1 Ambua Lodge Mt. Hagan DAY 2 HIDES Kundiawa 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 Fields,…
DAY 1 Port Moresby Visit PNG Plant Site Meet with PNG ministers and senior bureaucrats Overnight Airways Hotel Port Moresby, Papua New Guinea 5 PNG LNG Plant Site - Schematic 6
PNG LNG Plant Site July 2011 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 coast for tanker ships to berth and…
LNG Facility Location Schematic of LNG facility site and loading terminal 9 DAY 2 PNG Highlands PNG LNG and Gas Growth presentations View PNG LNG pipeline Visit CPF AG activities Overfly Kutubu, Moran PNG LNG…
11 PNG LNG Project Overview Hides Wabag Juha Wells Facility EPC4 Hides Gas Conditioning Mt. Hagan 6S Plant Kundiawa C1 HGCP Mendi Goroka EPC5B Komo Kutubu CPF Airfield Gobe PF Lae 7S C1 South LEGEND complete…
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 to 3Q11 Ground-breaking and pouring of first foundations at LNG plant site. Fabrication of process trains, tanks and jetty underway Final delivery of line pipe to PNG for onshore pipeline, over 30km of welding and…
Focus Areas Community engagement Working with new Government to ensure continued alignment and delivery of obligations Logistics in the Highlands Strong A - pressures easing due to mitigation 17 Associated Gas & Related…
CPF Scope Of Work Associated Gas Delivery Enhanced dehydration by replacing existing gas driers to improve gas quality and reduce emissions Automation of various wells for remote operation and upgrading plant inlet gas management…
Construction Progress CPF works well advanced First plant shutdown successfully completed in August 2011 Commissioning gas unit on track for mid 2012 handover Fit out of new control room underway First new TEG unit in place TEG…
PL 2 CALM Buoy & Pipelay Barge PL 2 CALM Buoy Fabrication and in-water testing completed Completed on time and within budget En-route to PNG Pipelay Barge Lewak Champion pipelay barge under contract from EMAS Mobilised to…
Hides Gas Conditioning Plant site 25 PNG LNG Project Onshore Pipeline Construction Kopi Scraper Station Completed Mubi River crossing 26
PNG LNG Project Onshore Pipeline Construction First weld Pipe Welding Pipe Lowering-in 27 PNG LNG Project Onshore Pipeline Construction Pipeline stringing Welded pipeline 28
PNG LNG Project Hides Gas Conditioning Plant - Pioneer camp construction Drilling Rig 702 - Ribbon cutting ceremony, Houston Texas 29 PNG LNG Project Plant Site July 2011 February 2011 30
PNG LNG Project Plant Site Process pipe rack construction Marine jetty piling 31 PNG LNG Project Plant Construction 32
Angore Anticline, Southern Highlands 33 33 PNG Gas Growth Key strategic priority for Oil Search is to grow gas business in PNG, with LNG the optimum commercialisation route PNG LNG will provide infrastructure, workforce…
Asian 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…
PNG LNG Resource Maturation 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 Hides PRL11 uncertainty…
Gulf Area LNG Opportunity Multi-licence, multi play type, multi PPL260 PPL339 Gobe well opportunity being developed 338 339 Large, modern 3D seismic dataset 339 7S acquired to unlock potential of Gulf 338 Elk/Antelope…
PPL 244 Flinders Fan Preliminary A interpretation of seismic over Flinders indicates potential hydrocarbon bearing sands Larger areal extent than previously thought A B Flinders Fan Flinders Fan Maximum Seismic…
45 45 Kurdistan - Taza PSC PSC signed after exercising Option Jambur Agreement Oil Field Oil Search operator with WI of 60%, ShaMaran 25%, KRG 25% Kor Mor Very prospective location adjacent Gas Field to three fields Large,…
Tunisia 2010 seismic evaluation complete. Infill line being conducted in 4Q11 Large structures mapped Proven plays present and new deep gas play 10km developed Prospect sizes commercially attractive. Tajerouine Prime prospect in…
Agogo Production Facility 49 49 World Class Safety Performance Total Recordable Injury Frequency Rate of 1.47 in 1H11 12 10.6 10.7 9.8 10 Australian Companies (APPEA) TRI / 1,000,000 Hours 9.4 9.1 9.3 8 7.8…
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 51 2011…
2012 Production Outlook Recent and planned drilling and work-over activity expected to reduce decline curve in 2012 2013, offset by planned shut-in of CPF/APF for 2 3 weeks in 1Q12 and GPF for 1-2 weeks in 3Q12 for Associated Gas work…
Near Field Exploration Toro development target Deeper targets e.g. Koi Iange Footwalls Forelimbs Focused on: Deeper Koi-Iange play: Play extensions: Potentially underlies all producing Based on detailed remapping and…
Agogo 6 Appraisal Well Agogo 6 is follow-up to ADT 2ST3, which confirmed oil in Digimu reservoir of the Agogo forelimb All ADT 2 ST3 production to date from Digimu formation Target for Agogo 6 is Agogo Toro forelimb and extent of Digimu…
Mananda 5 Discovery 25 mmboe discovery, 50:50 oil:gas Confirmed oil in Toro A, B & C Ambiguous in Imburu & Digimu 3 year Licence Extension offered by DPE. Declaration of Location gazetted Potential Pipeline Route Subsurface,…
Delivery of 2010 Strategic Review 2010 Strategic Review completed in 4Q10 provided template for continued value growth: Key work programmes and required resourcing to achieve goals Performance management programme to drive delivery…
PNG Operating Environment PNG has built enviable investment record of fiscal stability in resources sector over past 15 years Unprecedented investment now taking place in oil, gas and mining, encouraged by attractive fiscal policy and…
Managing Operating Risk Oil Search has increased 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…
2011/12 Guidance Summary 2011 operating cost guidance unchanged at US1921/boe. Includes corporate costs of US3/boe Subject to finalisation of budgets, 2012 opex expected to be slightly higher on a per barrel basis, impacted by:…
Liquidity Liquidity (cash plus undrawn bank debt) USmm 0 2011 2014 Outlook updated for first half cash generation, investment spend and forward prices Liquidity (including escrowed cash) at end 3Q 2011 1.4 billion Company…
Loading...
