UK Oil and Gas Investor Forum Bank of America Merrill Lynch April 2012 1 1 Oil Search Profile Established in Papua New Guinea (PNG) in 1929 Operates all of PNGs producing oil and gas fields. Current gross production…
Key Oil and Gas Fields, PNG Angore Madang PPL260 Oil Field Gas Field Pnyang PRL3 Porgora Wabag Gold Mine Prospect Juha 260 Hides Oil Pipeline PDL8 Trapia Proposed Juha PDL9 PRL11 Proposed PDL1 Mt. Hagan Gas Pipeline Facility…
PNG LNG Project Overview Hides Wabag Oil Field Wells Gas Field Prospect Juha Facility Mt. Hagan Oil Pipeline Hides Gas Conditioning Plant 6S Proposed Kundiawa Goroka Gas Pipeline Mendi Komo Airfield OSH Facility LNG Facility…
PNG LNG Project Overview Main EPC contractors: LNG Plant: Chiyoda/JGC Offshore Pipeline Saipem Hides Gas Plant CBI/Clough JV Onshore Pipeline Spiecapag Infrastructure McConnell Dowell/CCC JV Early Works Clough/Curtain JV…
Focus items for 2012 Completion of Komo Airfield construction Structural steel erection, mechanical construction of major equipment at HGCP Continued construction at LNG Plant site including commencement of topside jetty works and tank…
PNG LNG Plant Site February 2011 February 2012 11 PNG LNG Project Offshore Pipeline SEMAC I Offshore pipelay vessel 12
PNG LNG Project Onshore Pipeline Pipe welding team Pipeline route clearing Pipe stringing Pipe burial 13 PNG LNG Project Upstream Hides Gas Conditioning Plant Komo Airfield and Hides well pad access road 14
AG and PL 2 Life Extension Projects New Control Room at CPF - commenced operations in January 2012 New CALM Buoy being lowered into position first offtake March 2012 TEG Dehydration Unit installation 15 Growth…
Pnyang South 1 Appraisal well successfully discovered gas in southern fault block Sidetrack currently underway to establish gas:water contact and extent of discovery PRL 3: ExxonMobil 49%, Oil Search 38.5%, JX Holdings 12.5% Hides…
PDL 1, PDL 7 and PDL 8 Hides and Angore Fields Hides development drilling programme: PDL 1 Hides Field Scheduled to commence 10 New Wells in mid 2012, with GWC Drilling 2012+ GTE PL 1 Hides GTE Plant well planned for early in…
Gulf Area LNG PPL339 Multi-licence, multi play type, Gobe multi well opportunity with 338 339 material equity 339 7S Large, initial seismic programme completed in 2011: 338 Elk/Antelope 338 6,300 km 3D offshore and 95…
Example of Offshore 3D Seismic PPL 234 Is gas migrating from the deep kitchen through faults in the Miocene section Faulted Miocene Faulted Miocene 23 Kurdistan Region of Iraq - Taza PSC Oil Search operator…
Taza Seismic Taza 1 Four regional Proposed Location reservoir targets: SW NE Jeribe Euphrates/Serikagni Upper Fars Kirkuk Group Lower Fars Jaddala Saliferous Recoverable resources in success case: 200 - 400 Kor Mor Gas Field…
27 Moran, SE Mananda, Agogo 6 wellsite & Agogo Production Facility 27 World Class Safety Performance Total Recordable Injury Frequency Rate of 1.85 in 2011 Australian Companies TRI / 1,000,000 Hours (APPEA)…
Oil Search Production (existing fields) Net Production (mmboe) Gobe Main Hides GTE 10 Moran SE Mananda Kutubu SE Gobe 9 8.12 8 7.66 7 6.69 6.2-6.7 6 5 4 3 2 1 0 2009 2010 2011 2012 2013 2014 (Forecast) 29…
Hedinia 10 and Agogo 6 Highly successful near-field exploration to date. Prospects are complex and invisible Kutubu oil field Agogo oil field ST3 ST2 ST1 Sub-thrust Sub-thrust forelimb forelimb 31 2012/13…
PNG Issues Unprecedented political uncertainty in PNG over past 6 months: No impact to operations with continued progress on all projects Security and safety of staff paramount Election in June/July 2012 with new government formed in…
Oil Search Production Outlook, incl. PNG LNG T1/2 Net Production (mmboe) 25 MENA Hides GTE SE Mananda 20 SE Gobe Gobe Main Moran Kutubu 15 10 8.60 8.12 7.66 6.69 6.2-6.7 5 0 2008 2009 2010 2011 2012 2013 2014 2015…
Appendix 2: 2012 Investment Outlook USm 2011 (A) 2012 (F) Investing : Exploration inc gas growth 145 240 280 PNG LNG 1,287 1,650 1,750 Production 129 130 150 Corporate (inc rigs) 7 10 Business Development** 10 7 Financing :…
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