HALF-YEARLY PRESENTATION 2008 - Analyst CAIRN ENERGY PLC YEARS OF EXPLORATION, DISCOVERY & PRODUCTION 08S0084HE00
AGENDA Introduction Sir Bill Gammell, Chief Executive, Cairn Energy PLC Financial Overview Jann Brown, Finance Director, Cairn Energy PLC Cairn India Rahul Dhir, Managing Director & CEO, Cairn India Capricorn Dr. Mike Watts,…
GROUP STRATEGY The Cairn Group possesses balance sheet strength, operational flexibility and material growth potential Cairn India is focused on the delivery of the world class Rajasthan development, with expected first production…
GROUP KEY ASSETS Total Operated Production Cairn India (CIL) 2008 H1 80,873 boepd Capricorn 2007 H1 92,173 boepd GREENLAND INDIA SRI LANKA Rajasthan Resource base 1 billion boe Transformational exploration potential in…
FINANCIAL OVERVIEW Jann Brown, Finance Director, Cairn Energy PLC
GROUP STRUCTURE Cairn Energy PLC Listed on London Stock Exchange Other Shareholders 65% 90% DYAS 35% 10% Cairn India (CIL) Capricorn Listed on Bombay & National Stock Exchange Unlisted subsidiary Key events in…
PRODUCTION AND RESERVES Production (entitlement basis) Group booked reserves 13,886 15,000 India Bangladesh Total 10,903 Oil Reserves 10,000 31.12.07 169.4 0.8 52.8% 42.2% 170.2 CB/OS-2 mmboe (4,598) Produced (2.0) (0.5)…
KEY ACCOUNTING NUMBERS H1 2008 m Revenue 180 Gross Profit 109 Impairments / unsuccessful exploration (26) Gain on 4% placement of shares in Cairn India 359 Profit after tax 375 Cash flow from operating activities 105…
CASHFLOWS Cairn Cairn India India H1 2008 Capricorn Capricorn / PLC / PLC H1 2008 m m H1 2008 Operating Cash Flow 99 H1 2008 Operating Cash Flow 6 Net Cash on Balance sheet Net Cash on Balance sheet at 30th June 2008 835…
CAIRN INDIA Rahul Dhir, Managing Director & CEO, Cairn India 11 08S0084HE00 08S0084HE00
CAIRN INDIA OVERVIEW India RAJASTHAN Gross operated production Expected production 70,924 boepd 175,000 bopd Resource base of 800 million 2P boe net Exploration: net unrisked recoverable INDIA resources of 1 billion…
CAIRN INDIA - CONSISTENT DELIVERY SINCE IPO Maximise recovery Maximise Identify Execute Rajasthan from Potential in new growth development production base Rajasthan opportunities Successful drilling Rajasthan block Growing…
RAJASTHAN - WORLD CLASS RESOURCE BASE Growing resource base with long term growth potential Total Fields 3.7 billion STOIIP Potential Optimisation MBA fields 2 billion boe under development Other fields 1.7 billion boe small and…
RAJASTHAN UPSTREAM PROJECT Major contracts awarded Civil works commenced Site grading work at Mangala Processing Terminal 90% complete in priority areas Civil foundation work commenced at Raageshwari First engineers for…
RAJASTHAN GUJARAT PIPELINE Shifting of delivery point from Barmer to Gujarat coast approved Major contracts awarded Oil and gas pipeline construction commenced June 2008 Bhatinda Panipat DELHI Construction of sites for…
RAJASTHAN GUJARAT PIPELINE Construction work on the oil and gas pipelines from Rajasthan to Gujarat 17 08S0084HE00 08S0084HE00
RAJASTHAN - DEVELOPMENT COSTS Upstream estimated costs from 2008 to end 2009 MBA Fields 1.8 billion gross Net to Cairn 1.3 billion Midstream costs to end 2009 800 million gross Net to Cairn 560 million Funded from: Positive…
EXPLORATION OVERVIEW Appraisal and exploration drilling in Newly contracted Rig for pan-India drilling Rajasthan and other blocks in India to commence Q4 2008 Ongoing Seismic acquisition in 2008 2D Seismic acquired: PR-OSN 2004/1…
CAPRICORN Dr. Mike Watts, Exploration & New Business Director, Cairn Energy PLC 20 08S0084HE00 08S0084HE00
GROUP OVERVIEW - CAPRICORN Transformational exploration potential, Greenland and Nepal Medium/low risk exploration potential leading to possible early developments, Tunisia and Albania GREENLAND Bangladesh Gross operated…
ARCTIC OVERVIEW The extensive Arctic continental shelves may constitute the geographically largest prospective area for petroleum on Earth USGS July 2008 The Arctic comprises 19 Geological basins containing 400 oil and gas…
GREENLAND POTENTIAL USGS (July 2008) risked mean estimate for Greenland potential is 50 billion boe Greenland is a Saudi Arabia Russia world top 10 Iran Brazil country for Iraq Greenland yet to find Nigeria Kazakhstan…
GREENLAND HYDROCARBON POTENTIAL USGS Risked Mean Resource Estimates (July 2008) Drake Cisco Bent Horn Gas Potential Point Oil North Greenland Oil Gas 10.2 TCF Oil Potential 1.35 Billion bbls NGL Potential East GREENLAND…
GREENLAND 2008 PROGRESS Block signing ceremony in Qaqortoq, January Geological fieldwork Qaqortoq, January 2008 2D Seismic acquisition Seabed logging survey (CSEM) 25 08S0084HE00 08S0084HE00
WEST AND SOUTH GREENLAND EXPLORATION AND FUTURE BID ROUNDS NW Greenland NE Greenland (Baffin Bay) 2012 Licence Round 2010 Licence Round GREENLAND Sigguk(1) & Eqqua(3) Cairn/Capricorn 87.5% Nunaoil 12.5% Block 4 Exxon…
GREENLAND FIELDWORK 27 08S0084HE00 08S0084HE00
GREENLAND FIELDWORK PUJOORTOQ BURNT CLIFF Landslides in 1933 and 1958 Cliff section of thick deepwater black marine Cretaceous shales with high carbon content Slope failure introduces oxygen which has an exothermic reaction with…
GREENLAND FIELDWORK CRETACEOUS AND TERTIARY SEDIMENTS 29 08S0084HE00 08S0084HE00
GREENLAND DISKO AREA NATURAL SEEPS AND SATELLITE SLICKS First natural oil seeps in Greenland recognised in 1992 (Disko/Nuussuaq 1 area) Nuussuaq Cairn By 1997, 100 natural oil seep 3 4 locations had been found with five…
GREENLAND GEOLOGICAL FIELDWORK OIL SEEPS AND STAINING IN VOLCANICS Marrat-1 well drilled for mineral exploration in 1994 confirmed a 90m oil impregnated volcanic section 31 08S0084HE00 08S0084HE00
GREENLAND SEISMIC ACQUISITION 2008 2D Seismic programme 10,000 km Survey commenced July expected to complete by mid October Disko blocks 6,600 km Southern Blocks 3,000km 32 08S0084HE00 08S0084HE00
LADY FRANKLIN AND ATAMMIK BLOCKS CSEM SURVEY Summer 2008 work programme 1600 km Electromagnetic survey Atammik CSEM Controlled Source Electromagnetic Survey Electric field generated by towed source, Nuuk receivers on seabed…
CAPRICORN - TUNISIA EXPLORATION 2-4 Exploration Well Programme; Q4 2008 Q4 2009 Target prospects in the 15-50 mmbbls range First to be drilled: Louza MSela-West prospect Updip of Union Texas 1995 discovery LOUZA NABEUL TUNIS…
CONCLUDING REMARKS Sir Bill Gammell, Chief Executive, Cairn Energy PLC
GROUP SUMMARY Cairn India Rajasthan development on track First commercial oil production H2 2009 Established and growing resource base Capricorn Offering organic growth opportunities through exploration Transformational…
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