Pareto Securities Oil & Offshore Conference Karl Johnny Hersvik, CEO September 10, 2014
This is Det norske Pure play on the NCS Active exploration company Second largest acreage holder on the Norwegian Continental Shelf Significant development projects Ivar Aasen and Johan Sverdrup fields to secure future…
Massive cost increase on the NCS last 20 years 350% Petoro analysis: 316% Same field, same type of wells 284% 300% 1992 95 vs. 2008 13 250% Drilling from surface to reservoir 237% 200% Select, representative routine operations…
More competition is needed on the NCS 12 Statoil Shell 10 License ConocoPhillips holder BP Operator 8 GDF SUEZ Det norske* ExxonMobil 6 Wintershall DONG 4 Total Talisman Energy 2 Centrica Energy Eni BG 0 2000 2002…
Creation of a strong Norwegian E&P company Acquisition of Marathon Oil Norway transforms Det norske Integration to be completed in less than 4 months Fully integrated E&P company with 450 employees Organisational set-up to support…
A strong Norwegian E&P independent 2013 working interest production (mboe/d) Marathon Norge Base case Upsides 84 84 74 58 Det norske 47 46 44 39 33 Combined 29 25 OECD 24 Non-OECD 17 10 6 2014 2025 Note:…
A high quality North Sea portfolio Alvheim is a mid-life operated FPSO Working Field producing 100 mboepd1 (gross) interest Alvheim 65,0% Volund 65,0% High quality operations, 98 percent (avg.) Vilje 46,9% Byla 65,0% FPSO…
Increased organic growth potential Creates a robust and modern E&P Increased organizational capabilities across company, that will build on the combined the E&P value chain capabilities of the two teams Synergies expected to be…
Ivar Aasen development Det norske will have 34.79% in the unit Unit comprises the Ivar Aasen and West Cable deposits Hanz (DETNOR 35%) remains in PL028B: to be developed in phase 2 Gross P50 reserves of 210 mmboe 74 mmboe net to…
Ivar Aasen project moving forward
Johan Sverdrup project status Phase 1 DG3/PDO work ongoing The front-end engineering and design (FEED) scheduled to be completed by November Aker Solutions is the main FEED contractor (platform facilities) Letter of intent signed…
Project progressing towards PDO in Q1-15 FEED contract for phase 1 awarded to Aker Solutions Decision Gate 2 passed Phase 1 PDO submittal to the authorities and unitisation process finalised Phase 1 PDO approval…
Outlook Commercial Completion of the Marathon acquisition Integration work on schedule Maintain aggressive portfolio optimisation through business development Financial Rights issue of approximately USD 500m concluded Seven year…
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