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A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited

Oil Search Limited · Feb 3, 2004 · 19 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. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 1
    Operatorship Now Delivering A review of OSH Gas Initiatives for 2004 Macquarie Bank Luncheon 03 Feb 2004
  2. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 2
    Consolidation in 2003 OSH took major step in influencing its destiny by: Taking over as Operator of PNGs oil fields and infrastructure acquiring ChevronTexacos interests across PNG With Operatorship came for the first time: Greater…
  3. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 3
    What has changed for Gas Greater control means greater responsibility and opportunity For the first time, we can drive outcomes We have developed an integrated Oil & Gas Model involving all oil and key gas fields and infrastructure to…
  4. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 4
    Gas in 2004 In 2003, we set our goal: to bring at least one gas project to commerciality in 2004 And we asked ourselves: When should the next major investment be made What does an optimal combined project look like What will…
  5. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 5
    Subjects Covered Today Gas reserves in PNG The window for gas development The window is now It is influenced by oil Update on the Highlands Gas Project Customers and confidence Risk reduction through early FEED commitment…
  6. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 6
    Oil & Gas Reserves OSH owns more of the oil reserves in PNG than anyone Approx 66% OSH owns more of the gas resource in PNG than anyone approx 38% of 13 TCF Fold Belt gas reserves are available in Kutubu, Hides, Angore, Juha Other…
  7. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 7
    The Window There is substantial value to be captured if Oil & Gas developments are synchronised to deliver synergies: Whilst increasing in the short term, oil production will decline (absent new discoveries), and production needs to…
  8. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 8
    Our Approach to 2004 A broader, integrated oil & gas strategy for OSH OSH impact maximized JV issues minimised Gas and oil portfolio must be managed Opportunities not mutually exclusive New drive for Gas Project FEED commitment in…
  9. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 9
    Integrated Oil & Gas Model for PNG Demonstrates better value & lower risk for OSH by moving to FEED with Kutubu stripping/reinjection and limited Hides recycle Powerful tool for project evaluation and value chain analysis…
  10. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 10
    An Optimal Project Combining oil & gas interests leads us to: Produce Kutubu gas for export asap Eliminate impact of slow ramp of gas export sales Produce gas at full rates (660 MCFD) from Hides from outset Strip condensates from…
  11. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 11
    The Choices for 2004 Gas Project is achievable, based on - committed Buyers available gas market Hides production/reinjection options improved Buyer confidence due to FEED Hides stand-alone recycle is promising based on technical…
  12. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 12
    Highlands Gas Project Customers & FEED Working toward reduced sales threshold for FEED Entry Direct result of undertaking Hides cycling/reinjection review Liquid sales preserved/augmented by reinjection and cycling Customer…
  13. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 13
    Hides Reinjection & Recycle OSH is driving for a Project FEED decision early 2004: Reinjection of up to 300 MCFD of Hides gas into Kutubu reservoirs, after condensate stripping, PLUS Hides (Hybrid) cycling of 200 MCFD of gas…
  14. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 14
    Alternatives - Methanol Feasibility Study nearing completion for large MeOH/DME plant Upstream (to plant) driven by OSH Downstream (plant and markets) driven by Itochu/MGC Potential for investing in any sector of the value chain…
  15. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 15
    Others - CNG NZ Concept NZ gas opportunity for CNG being investigated Large scale gas movements over 20+ years Delivery direct from PNG or via Australia (HGP) Involving world class companies and technology Assessing economic and…
  16. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 16
    Others - Fertiliser Interest in ammonia-urea Oil & Gas Model allows assessment of multiple markets Fertiliser project may be transferable from another location Synergies with methanol and/or co-located plants Early discussion on…
  17. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 17
    OSH Gas Priorities for 2004 1. Move Gas Project into/through FEED Build confidence for gas sales thru FEED commitment Use Kutubu reinjection and Hides hybrid recycle Preserve opportunity for sales growth and add-ons Low risk,…
  18. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 18
    View Forward 1 Q 2004 In 1 H 2004: Progress an integrated strategy on PNG including HGP Take FEED decision if/as required Complete Hides recycle commercial / technical studies and FEED proposals Take FEED decision if/as required…
  19. A REVIEW OF OSH GAS INITIATIVES – Oil Search Limited – slide 19
    The Future For Gas Gas/Power to Mines Kutubu, Hides, Gobe Main, Moran, SE Hedinia, Juha, Angore (Fields and facilities over time) HGP Facilities Recycle Facilities Barikewa Kimu (dry) Kopi HALL SOUND Kerema / Silo…

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