Macquaries Explorers Conference January 2012 CONFIDENTIAL Analyst Presentation WORKING DRAFT 1
GENEL ENERGY AN EMERGING FORCE IN E&P High quality asset base with short, medium and long term growth options Financial strength Strong Board and Management Team with distinctive operating capability in the Kurdistan region…
STRATEGY Highest level of corporate governance Manage existing Kurdistan region business on a cash flow neutral basis Create value with the drill bit Build a major regional (greater MENA) E&P business over the next 3-5 years…
KURDISTAN REGION OF IRAQ ONE OF THE LAST GREAT FRONTIERS TURKEY to Mediterranean Port Tawke KURDISTAN Underexplored REGION OF IRAQ SYRIA Erbil US Geological Society YTF (2010) estimate Mosul Taq Taq Kirkuk 40bnboe oil and 60Tcf…
KURDISTAN REGION OF IRAQ POLITICAL AND FISCAL OVERVIEW The Kurdistan Region of Iraq is an autonomous and stable part of Iraq with strong political ties to Turkey The elected Kurdistan Regional Government (KRG) A joint PUK-KDP list won…
GENELS LICENCE POSITION Turkey Ber Bahr Taurus % WI Mountains Syria Operating in Kurdistan since 2002 Pioneer of the Oil industry Sarsang Peshkabir Sheikh Atrush Signed first PSC with the KRG for Taq Taq % WI Adi Shaikan in…
GENEL RESOURCE HOPPER Exploration Assets Unrisked mean prospective resources Ber Bahr 511 mmboe1 Miran Peshkabir Taq Taq Deep Contingent resources c.77 mmboe2 Development Assets Tawke Deep Miran Chia Surkh Dohuk Kewa…
TWO WORLD SCALE PRODUCING FIELDS Taq Taq and Tawke 2P and Possible Reserves1 Turkey 1,600 Gross 2P Syria Gross Possible 631 1,200 655 655 mmboe 800 TAWKE 290 Genel WI: 25% IRAN 400 313 932 Other Partners 674 660 DNO…
TAQ TAQ DEVELOPMENT PLAN Taq Taq Production Profile Process debottlenecking 250 Increase production to 110kbopd by 1H 2012 Gross 200 200 Net 2012-2013E: growth to 150kbopd 150 150 kbopd Additional 5-7 production wells per…
ROUTES AVAILABLE TO MARKET Established oil export route to Ceyhan, Turkey Existing pipeline capacity of 1.6mmbopd Approximately 1mmbopd spare capacity 100kbopd tie-in from Tawke at Fishkhabur Proposed 400+kbopd KICE 255km tie-in…
EXPLORATION - SIGNIFICANT HIGH-IMPACT EXPLORATION PORTFOLIO 70% exploration success rate in Kurdistan Turkey Three prospects 300mmboe gross mean unrisked resources Ber Bahr Syria c 500mmboe total estimated net unrisked mean…
SUMMARY High quality major producing asset base and operating capability on which to build Value creation from significant resource upside with the drill bit and the de-risking of Kurdistan Manage existing Kurdistan region…
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