OIL SEARCH LIMITED Helping to create a sustainable future for PNG 1 2011 Annual Meeting Agenda Overview 2010 Financial Results PNG LNG Project Expansion Activities Operations Review Sustainability Summary 2
Overview 3 Sustained Top Quartile Performance Oil Search has delivered an 9.00 Share price annualised total (rebased to OSH) shareholder return (capital 8.00 growth & dividends) of 15% Oil Search over last five years…
OSH Strategies to Create Value Optimise current oil and gas production: Through improved efficiencies and pursuit of near field opportunities Maximise value of PNG LNG Project (T1 & T2): By utilising in-country knowledge to assist…
World Class Safety Performance TRIFR (per Million Hours Worked (All Reported Data)) 2009 2010 Fletcher Building CSR CSR Brambles Hastie Group OZ Minerals James Hardie Macarthur Coal Brambles Hastie Group Fosters Fletcher…
Active Cost Management Cost focus to counter localised inflation 2010 2009 and adverse FX movements Unit costs impacted by declining volumes USm USm 1.00/boe Field Costs Higher corporate costs due to strong A and LNG bonus - Oil:…
PNG LNG Plant Site, Port Moresby 2010 Activities : Early construction activities including accommodation camp, road bypass 2011 Activities : Procurement, earthworks, foundations (first foundation poured end March)…
PNG LNG Upstream 2010 Activities: Opening supply routes Early construction activities in Highlands including clearing, road and bridge upgrades Earthworks at Hides plant site and Komo airfield 2011 Activities : HGCP and Komo…
Training Facilities 2010 Activities: Construction of training facilities at POM Tech in Port Moresby (operational) and Juni 2011 Activities : Complete Juni training facility 19 2011 PNG LNG Project Focus Areas Ramp…
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…
Strong Asian LNG Markets Outlook MMTPA 300 Other Malaysia 250 Singapore Thailand 200 China Chile Mexico West 150 India Taiwan 100 South Korea 50 Japan 0 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 Source: Wood…
PNG LNG Expansion Pnyang 100km PNG LNG Project Gas Resources PNG LNG co-venturers working Non PNG LNG constructively to implement resource maturation programme in Hides Gas Resources Huria Exploration 6S Moran Gas Resources…
Operations Review 27 2011/12 Development / Appraisal Drilling Activity PPL260 Despite maturity, PNG oil fields Hides continue to be solid performers PDL PRL 8 11 Angore 2011 production will be impacted 6S PRL 11 by:…
Near Field Exploration and Appraisal 143E 20km Major review undertaken as part of Strategic Review Very high historical MORAN success rate, with excellent returns MANANDA & SE MANANDA achieved 26 near field appraisal and…
Oil Search Production Outlook Net Production (mmboe) MENA 10 Hides GTE SE Mananda 8.60 SE Gobe 8.12 Gobe Main 8 7.66 Moran Kutubu 6.2-6.7 6 4 2 0 2008 2009 2010 2011 2012 2013 Forecast (excluding Mananda-5) 31…
Sustainability 33 Focus on Sustainability In light of increasing value of PNG assets going forward, Oil Search is seeking to further enhance its focus on managing PNG sustainability issues (traditionally an area of strength)…
Oil Search supports many social programmes 35 Summary 36
Summary Fully focused on delivery of major Strategic Initiatives: PNG LNG Project delivery underway: Commencing construction at PNG LNG plant site, HGCP and Komo Associated gas and life extension projects Focus on management of…
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