2012 INTERIM RESULTS 14 August 2012 Delivering Production Growth
OPERATIONAL AND CORPORATE RESULTS Dr Abdul Jaleel Al Khalifa CEO
Key Highlights Gross production growth of 10.7% in 1H 2012 to 64,200 bopd (1H 2011: 58,000 bopd) Twelve wells, including two sidetracks, completed in the Dzheitune (Lam) field Sanding issue under control 3 Contract for exploration…
Drilling Results 2012 drilling Well Completion Depth Type of Initial test programme upgraded date (metres) completion rate (bopd) to comprise up to 16 Single 13/140A January 2,237 2,123 wells from 13 wells sidetrack originally…
Rig Deployment STATUS DRILLING CAPACITY JU 1 Contracted 5 wells JU 2 Due at the end (Caspian Driller) of 2012 6 wells Contract to be awarded in early 5 New JU 3 2013 Above and below: Offshore drilling rigs. 3 wells till…
Infrastructure Development Dzhygalybeg (Zhdanov) A and B platforms expected in 1Q and 1H 2013, respectively Evaluation of bids to construct the Dzheitune (Lam) D and E platforms ongoing Geophysical and geotechnical survey of…
Diversification Tunisia Bargou Permit 4,616km2 shallow offshore Joint Venture of Dragon Oil (55%), Cooper Energy (30% and operator) and Jacka Resources (15%) Approval from the Tunisian Hydrocarbons Consultative Committee for the…
Diversification (cont.) Iraq Block 9 Basra province 900km2 onshore Consortium of Kuwait Energy (40% and operator), Dragon Oil (30%) and Turkish Petroleum Corporation (30%) Iraqi Ministry of Oil and the consortium 8 recently…
Other events Appointments Thor Haugnaess appointed Independent Non-executive Director bringing oilfield services-related experience to the Board Ali Al Hauwaj appointed Exploration Manager to head our exploration team and develop the…
Investment in People and Communities Our Talent Community Support 91% of our total manpower IHSAN project improved sanitary come from Turkmenistan facilities in three girls secondary Advanced in-house training schools in Basra, Iraq…
1H 2012 FINANCIAL RESULTS Tarun Ohri Director of Finance
1H 2012 Results Summary USmn 1H 2012 1H 2011 Change Revenue 588.4 527.4 +12% Cost of sales (169.3) (109.7) (54%) Operating profit 404.2 407.3 (1%) Profit for the period 308.9 309.4 (0.2%) Net cash generated from operating 483.7 413.7…
1H 2012 Income Statement USmn 1H 2012 1H 2011 Change Comments Revenue 588.4 527.4 +12% 94% was attributed to higher volume of crude oil sold, with the balance due to higher realised sales price Cost of sales (169.3) (109.7) (54%)…
1H 2012 Cash Flow Cash and term deposits total US2,018mn Net cash from operations up 17% as at 30 June 2012 and include: Capital expenditure in 1H 2012 was Term deposits of less than three US208mn and US172mn cash outflow after months…
1H 2012 Balance Sheet USmn 1H 2011 Comments 2012 Non-current assets Property, Plant & Equipment 1,457.7 1,354.0 Increase primarily due to capital expenditure incurred offset by and intangible assets the depletion and depreciation…
1H 2012 Capital Expenditure Total capital expenditure for 1H 2012: 186 Infrastructure (54%) Dzhygalybeg (Zhdanov) A and B platforms Block-4 gathering station Drilling (46%): 16 12 wells completed USmn 1H 2012 112.3 95.7 208…
OUTLOOK Dr Abdul Jaleel Al Khalifa CEO
Outlook for 2H 2012 Production Rigs Complete up to 16 wells, including Caspian Driller expected two sidetracks for delivery at the end of 2012 Target annual production growth Two platform-based rigs being of 10-15% sourced to deploy…
And Medium Term Production 2015 Target Target 10-15% of production Reach the 100,000 bopd growth on average per annum production target in 2015 for 2012-15 Complete 15 to 20 development Water injection pilot project wells per…
Investor and analyst enquiries Media Enquiries Citigate Dewe Rogerson Dragon Oil plc Martin Jackson Kate Lehane +44 20 7638 9571 Anna Gavrilova + 44 20 7647 7804 Joint Corporate Brokers agavrilovadragonoil.com irdragonoil.com Davy…
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