Merrill Lynch 2009 E&P and Oil Services 1-1 Conference 19th November 2009 Cairn Energy PLC Discovering hidden value through entrepreneurial exploration Discovering hidden value through entrepreneurial exploration
CAIRN - OVERVIEW Early entry positions Papua New Guinea South Asia: Greenland Bangladesh, India and Nepal Greenland Focus on materiality India Head Office South Asia Geological potential Edinburgh Bangladesh, Nepal, Sri…
CAIRN GROUP - OPERATIONAL FINANCIAL FLEXIBILITY Strong balance sheet Net cash June 2009 630 million October 2009 Petronas transaction raised an additional 310 million Cairn India 1.6 billion refinancing Rajasthan cash flows…
CAIRN - OPERATIONAL FOCUS South Asia Rajasthan 3.5 billion boe in place discovered, further upside being evaluated Currently approved peak plateau production 175,000 bopd, with scope and potential to increase At current oil prices…
CAIRN - EXPLORATION IN SOUTH ASIA Major long term player Successful exploration: 40 discoveries Rajasthan 3 of 7 landmark discoveries in India BANGLADESH since 2000 Cambay Sangu Drilling success ratio 40% INDIA Large…
CAIRN - DELIVERY IN SOUTH ASIA Fast track developments and low cost operated production Sangu (Bangladesh), opex 2.5 /boe Ravva (India), opex 2.4/bbl CB/OS-2 (India), opex 2.4/bbl Rajasthan (India), under construction…
RAJASTHAN - OVERVIEW Total Rajasthan acreage 3,111 km2 Cairn India (70%) and ONGC (30%) 25 Discoveries with initial development focused on the Mangala, Bhagyam and Aishwariya (MBA) fields Multi billion project, 2 billion spent…
RAJASTHAN - BUILDING FOR GROWTH * Flexibility to cater for Current potential Government future growth * Subject to Current Approved additional Government Production investment and Approved Capacity Government Production…
RAJASTHAN - MBA PRODUCTION CAPACITY AND GROWTH MPT four processing trains; with planned Further production capacity 205,000 bopd targeted Exploration completion 2011 Schematic Additional Potential 22 Field Potential 205,000…
RAJASTHAN - CRUDE OIL MARKETING Highest realised price maximises Government of India (GoI) take and royalty Bhatinda for Government of Rajasthan Mangala Panipat DELHI Access to 75% of Indias refining capacity Rajasthan…
RAJASTHAN - FUTURE RESOURCE AND VALUE POTENTIAL Focus on Potential Unrisked Unrisked Basin maximising value Growth Prospective Prospective Oil and Gas through strategic Resources In Place prioritisation of Contingent STOIIP…
GREENLAND - OVERVIEW Baffin Bay North East Greenland Cairn Blocks Bid Round Bid Round 2012 USGS places Greenland in 2010 Cairn Prospecting Licence Wells the top ten yet to find Disko blocks Baffin Bay Basin hydrocarbon…
GREENLAND - ONGOING WORK PROGRAMME Baffin Bay Basin 2008 Disko Seismic survey 2009 Seismic interpretation underway 2012 Licensing Prospects and leads inventory Round CSEM, well site and multi beam surveys Gradiometric gravity and…
BAFFIN BAY DISKO AREA Potential Hydrocarbons Generated Cairn (Op) 87.5% Nunaoil 12.5% GREENLAND Baffin Bay Baffin Basin Basin Baffin Bay Qaarsut and sub-basins Sigguk 1 GRO-3 Baffin Bay GREENLAND Exxon, Chevron, Eqqua Dong,…
REST OF GROUP - MEDITERRANEAN Tunisia Louza (Capricorn 100%) Exploration well 2010 20 million bbls unrisked prospect ALBANIA Nabeul (Capricorn 50%) JONI-5 Exploration well 2012 30 million bbls unrisked prospect NABEUL…
REST OF GROUP Carbonate Reef Build Up Play in Albania and Papua New Guinea Albania Rovesti Joni-5 Joni-5 prospect Aquila Falco prospect Medusa 3D seismic 2009 Giove Exploration well 2010/11 ITALY Unrisked 130 million…
REST OF GROUP - IRAQ SECOND BID ROUND 43 companies qualified for 2nd Round 14 green field projects targeting 40 billion bbls + 17 Tcf of reserves Iraqi Government presented 2nd round qualifiers in Istanbul Aug 25, 2009 Data…
CAIRN - BUILDING FOR GROWTH Early entry positions Focus on materiality Delivery of shareholder value Operational focus on frontier and high reward potential areas such as in Rajasthan and Greenland 09S0087KE00 Discovering…
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