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2012 ANNUAL MEETING – Oil Search Limited

Oil Search Limited · May 8, 2012 · 21 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. 2012 ANNUAL MEETING – Oil Search Limited – slide 1
    1 2012 Annual Meeting Agenda Overview 2011 Financial Results PNG LNG Project Update Expansion Opportunities Production/Near Field Other Material Exploration Local Issues Summary 2
  2. 2012 ANNUAL MEETING – Oil Search Limited – slide 2
    3 Significant Growth Phase Oil Search has been top quartile performer for past six years Significant growth opportunities have been identified, capable of driving future value Largest ever development, appraisal and exploration…
  3. 2012 ANNUAL MEETING – Oil Search Limited – slide 3
    Consistent Strong Share Price Performance 8.0 Share price (rebased to OSH) Oil Search 7.0 Brent 6.0 Santos 5.0 4.0 Woodside 3.0 ASX 200 2.0 1.0 0.0 Jan 07 Jul 07 Jan 08 Jul 08 Jan 09 Jul 09 Jan 10 Jul 10 Jan 11…
  4. 2012 ANNUAL MEETING – Oil Search Limited – slide 4
    Australian Benchmarking Total Recordable Injury Frequency Rate Data for 2011 per Million Hours Worked (All Reported Data) Wesfarmers Qantas CSR OZ Minerals Treasury Wine Est. Brambles Boart Longyear Fletcher Building Hastie…
  5. 2012 ANNUAL MEETING – Oil Search Limited – slide 5
    2011 Financial Performance 2010 2011 (USm) Revenue 583.6 +26% 732.9 Cash Expenses (111.8) (137.0) EBITDAX 471.7 +26% 595.9 Non-cash items (62.7) (84.4) Exploration Expense / BD (131.2) (70.9) Interest income/(expense) (0.8)…
  6. 2012 ANNUAL MEETING – Oil Search Limited – slide 6
    Cost Management Costs within guidance FY11 FY10 (US20.16/boe) USm USm Adverse impact of A and Kina Field Costs movement against US - Oil: PNG 85.9 73.3 impacting operating and corporate costs - Hides 6.5 8.0 PNG capacity…
  7. 2012 ANNUAL MEETING – Oil Search Limited – slide 7
    13 PNG LNG Project Overview Oil Field Hides Wabag Wells Gas Field Oil Pipeline Juha Facility Mt. Hagan PNG LNG 6S Hides Gas Conditioning Plant Gas Pipeline Kundiawa Goroka Mendi OSH Facility Komo Airfield Kutubu CPF PNG…
  8. 2012 ANNUAL MEETING – Oil Search Limited – slide 8
    PNG LNG Project Overview Oil Field Hides Wabag Wells Gas Field Oil Pipeline Juha Facility Mt. Hagan PNG LNG 6S Hides Gas Conditioning Plant Gas Pipeline Kundiawa Goroka Mendi OSH Facility Komo Airfield Kutubu CPF PNG LNG…
  9. 2012 ANNUAL MEETING – Oil Search Limited – slide 9
    PNG LNG Project Overview Oil Field Hides Wabag Wells Gas Field Oil Pipeline Juha Facility Mt. Hagan PNG LNG 6S Hides Gas Conditioning Plant Gas Pipeline Kundiawa Goroka Mendi OSH Facility Komo Airfield Kutubu CPF PNG LNG…
  10. 2012 ANNUAL MEETING – Oil Search Limited – slide 10
    PNG LNG Project Overview Oil Field Hides Wabag Wells Gas Field Oil Pipeline Juha Facility Mt. Hagan PNG LNG 6S Hides Gas Conditioning Plant Gas Pipeline Kundiawa Goroka Mendi OSH Facility Komo Airfield Kutubu CPF PNG LNG…
  11. 2012 ANNUAL MEETING – Oil Search Limited – slide 11
    21 Gas Maturation Activities, PNG Highlands Four facets to Highlands gas growth strategy, focused on converting proven and probable to proven contractable reserves plus new exploration : Pnyang South recent success, has…
  12. 2012 ANNUAL MEETING – Oil Search Limited – slide 12
    Pnyang South Pnyang South 1 discovered 184m gas zone gas in southern fault block Sidetrack, Pnyang South 1 ST1, drilled to define gas:water contact. Intersected contact 200m below lowest gas in P'nyang South, extending known gas column…
  13. 2012 ANNUAL MEETING – Oil Search Limited – slide 13
    Hides Hides development/ appraisal drilling PDL 1 Hides Field GTE PL 1 Hides GTE Plant programme: 10 New Wells Drilling 2012+ Part of PNG LNG Hides Nogoli Camp development Scheduled to commence in mid 2012, with GWC PDL 8…
  14. 2012 ANNUAL MEETING – Oil Search Limited – slide 14
    Oil Field Wabag Gas Field Oil Pipeline Mt. Hagan PNG LNG 6S Kundiawa Gas Pipeline Goroka Mendi OSH Facility PNG LNG Project Facility Major Road Prospect Lae 7S Kopi Wharf Offshore pipeline 8S Kerema Kumul…
  15. 2012 ANNUAL MEETING – Oil Search Limited – slide 15
    Example of Offshore 3D Seismic PPL 234 Is gas migrating from the deep kitchen through faults in the Miocene section Faulted Miocene Faulted Miocene 29 Moran, SE Mananda, Agogo 6 wellsite & Agogo Production…
  16. 2012 ANNUAL MEETING – Oil Search Limited – slide 16
    Oil Search Production Outlook - existing fields Net Production (mmboe) Gobe Main Hides GTE 10 Moran SE Mananda 9 Kutubu 8.12 SE Gobe 8 7.66 7 6.69 6.2-6.7 6 5 4 3 2 1 0 2009 2010 2011 2012 2013 (Forecast) Production…
  17. 2012 ANNUAL MEETING – Oil Search Limited – slide 17
    33 Kurdistan Region of Iraq - Taza PSC Taza PSC: Oil Search 60% (operator), ShaMaran 20%, KRG 20% Jambur Oil Field Very prospective location adjacent to four fields Large, simple 4-way dip closure Kor Mor identified from 2010…
  18. 2012 ANNUAL MEETING – Oil Search Limited – slide 18
    Taza Seismic SW Taza 1 NE Upper Fars Lower Fars Saliferous Kor Mor Gas Field Pulkhana Jambur Oil Oil Field Field downdip 2km Four regional reservoir targets: Jeribe - Euphrates/Serikagni - Kirkuk Group -…
  19. 2012 ANNUAL MEETING – Oil Search Limited – slide 19
    37 PNG Issues Unprecedented political uncertainty in PNG over past year: No impact to operations with continued progress on all projects Security and safety of staff in run up to election is paramount Looking forward to election…
  20. 2012 ANNUAL MEETING – Oil Search Limited – slide 20
    Sustainability Focus Desire to play a role in long term development and wellbeing of people of PNG to give back Continued push towards improved transparency and governance of: Benefits distribution Taxes Lanco payments Investment in…
  21. 2012 ANNUAL MEETING – Oil Search Limited – slide 21
    Oil Search Production Outlook, including PNG LNG T1/2 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…

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