1 Oil Search Profile Established in Papua New Guinea (PNG) in 1929 Operates all of PNGs producing oil and gas fields. Current gross production 33,500 boepd, net share 18,500 boepd At December 2011, proven reserves were 330 mmboe,…
Key Oil and Gas Fields, PNG Madang PPL260 Angore Pnyang PRL3 Porgora Wabag Gold Mine Juha 260 Hides Proposed Juha PDL8 Trapia PDL9 PRL11 Facility PDL1 Mt. Hagan Moran PPL277 6S Kundiawa PRL02 PDL6 Goroka Kiunga PDL7 233…
Focus on Safety Total Recordable Injury Frequency Rate of 1.85 in 2011 Australian Companies TRI / 1,000,000 Hours (APPEA) International Companies (OGP) Oil Search 5 PNG LNG T1/2 6
PNG LNG Project Overview 6.6 MTPA, 2 train development, operated by ExxonMobil Over its 30-year life, PNG LNG expected to produce more than 9 tcf of gas and 200+ million barrels of associated liquids Initial Equities: ExxonMobil 33.2%…
PNG LNG Project Upstream Hides Wabag Wells Mt. Hagan Hides Gas Conditioning Plant 6S Kundiawa Goroka Komo Airfield Mendi Lae 7S Rig 702 being assembled in PNG 8S Kerema Kumul Terminal 9S Daru Komo…
Pnyang South 17 17 Activities in PNG Highlands Four facets to Highlands gas growth strategy, focused on converting proven and probable to proven contractable reserves as well as new exploration and additional seismic:…
Pnyang South Juha Hides Pnyang 6S South Moran Angore Kutubu Pnyang 1X Pnyang 2X Agogo SE Gobe Pnyang South 1 ST1 8S 100km 142E 144E Pnyang South 1 discovered 184 metre gas zone in southern fault block Sidetrack,…
Hides Development and Appraisal Drilling Hides development/ appraisal drilling programme: PDL 1 Hides Field 10 New Wells Part of PNG LNG development Drilling 2012+ GTE PL 1 Hides GTE Plant Two rig programme, with first rig…
Wabag Mt. Hagan 6S Hides Gas Conditioning Plant Kundiawa Goroka Mendi Kutubu CPF Lae Gobe PF 7S Kopi Wharf 8S 100km Kerema Kumul Terminal Oil Field Gas Field Oil Pipeline PNG LNG Gas Pipeline OSH…
Example of Offshore 3D Seismic (PPL 234) Is gas migrating from the deep kitchen through faults in the Miocene section Faulted Miocene Faulted Miocene 25 Moran, SE Mananda, Agogo 6 well site & Agogo…
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…
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 seismic Gas…
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 Election in June/July 2012 with new…
Summary 2012 is a potentially transformational year for Oil Search. Unprecedented opportunity to underscore long term value growth from OSHs portfolio of assets Peak activity year for PNG LNG Project delivery Largest drilling…
Appendix 2: 2012 Guidance Production: 6.2 6.7 mmboe Operating costs US21 - 24/boe (incl. corporate costs) Impacted by: Major workover programme to maximise oil recoveries before gas production FOREX PNG inflation Associated Gas…