Credit Suisse London Oil & Gas Conference 06S0235FE00 Building a business in South Asia 9th June 2006 1 06S0235FE00
PREFACE This presentation and the associated slides and discussion contain forward-looking statements regarding Cairn, our corporate plans, future financial condition, future results of operations, future business plans and…
CAIRN GROWTH STORY South Asian Strategy Founded (1980), listed (1989) LSE Holland Sea Search AMSE Sir Bill Gammell, founder & CEO Command ASE Cairn Corporate acquisitions Holland Sea Search & Command Petroleum 1995/96 South…
CAIRN IN SOUTH ASIA Cairn Energy PLC listed London Stock Exchange 1988 Current Market Capitalisation 5 billion Developed reserves 450 mmboe (Sangu, Ravva & Gujarat) Rajasthan resource base 1 billion boe Significant remaining…
CAIRN IN SOUTH ASIA VISION South Asia as hydrocarbon-rich destination Rapidly growing energy markets Favourable investment climate FOCUS Sustained investment and re-investment for more than a decade EDGE Knowledge / Expertise…
SOUTH ASIA BUSINESS 25 discoveries 1996 - 2006 Developed reserves 450 mmboe Undeveloped resource 1 billion boe (Sangu, Ravva Lakshmi & Guari) Frontier Rajasthan gross Exploration production target 150,000 bopd NE PA Exploration…
PARTIAL IPO OF INDIAN BUSINESS Aim to create two world class businesses: one based in India focussed on E&P one based in the UK primarily focussed on South Asia Exploration Consistent with objective of optimising and realising…
INDIA Cairn's operated share of India's domestic oil production 2005 8% 2010 30% 06S0235FE00 based on current trends and Rajasthan peak production 8
INDIAS GROWTH & INVESTMENT OPPORTUNITY GDP (USbn) 2000 GDP (USbn) Growth forecast 2020 / 2030 US China Japan US Germany INDIA UK Japan France Brazil Italy Russia Canada Mexico China Germany Brazil France Mexico Italy INDIA UK…
EXPLORE/DISCOVER/DEVELOP 06S0235FE00 10
RAJASTHAN & CAMBAY BASINS CAMBAY BASIN NELP VI Blocks BARMER BASIN Reserves Current oil in place 3.5 billion boe 2.6 billion boe Current resource * 1 billion boe Current reserves 666 mmbbls oil 42 mmboe gas Rajasthan…
RAJASTHAN BHAGYAM BLOCK OVERVIEW SHAKTI N-I Extended Development BHAGYAM-SOUTH-1 Area 1,228 km2 Pending Approval MANGALA AISHWARIYA N-E-1 VIJAYA N-P Discovery VANDANA Barmer N-R-4 prospect requires AISHWARIYA…
RAJASTHAN - A WORLD SCALE DEVELOPMENT Main Northern Fields E&A Costs 450 million BHAGYAM Production Capacity: Total life of field development (gross) costs 20 - 40+ kbopd US2 billion (2005 money) Northern 800 million (gross)…
RAJASTHAN PROJECT MILESTONES FDP Approval MC level 9 Government Approval May 2006 FDP Approval OC level 9 Cairn & ONGC JV approval Dec 2005 Funding 9 Banking Syndicate (+ IFC) Signing end Jun 2006 FEED contract 9 Mustang…
RAJASTHAN PROJECT ALIGNMENT PRIZE 2008 onwards PSC Target peak production Sovereign 150,000 bopd contract Government of 50-60 billion gross Fast Project Maximum Volumes revenues at current India Highest Price prices…
Cambay Basin Development - Cairn 40%; Operator Exploration - Cairn 60% INDIA Commerciality approved CB-X at OC level FDP pending with MC SUVALI TERMINAL Lakshmi MUMBAI Ambe pti h Ta Nort a zir Ha Gauri Lakshmi & Gauri…
KG BASIN & RAVVA Reported significant Reliance oil discovery 2006 Ravva EURR 300 mmboe to ONGC ga Worlds biggest s gr Oil Discovery id Gas Discoveries Feb 2006 2002, 2003, 2005 KG-DWN-98/2 - 2005 / 2006…
EVOLUTION OF CAIRN BUSINESS MODEL New Growth Partial IPO increases autonomy Opportunities of the Indian business to unlock and create even more value BHAGYAM & AISHWARIYA Cairn India Listed on the 2008 Bombay Stock Exchange…
CAIRN GROWTH India 3rd fastest growing economy in the world Rising reserves & resources Increasing production Leverage to oil price Strategic position Right place . right time Planned partial IPO of Indian business…
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