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SECOND QUARTER 2009 – Dno International Asa

Dno International Asa · Aug 20, 2009 · 23 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. SECOND QUARTER 2009 – Dno International Asa – slide 1
    DNO INTERNATIONAL ASA Second Quarter 2009
  2. SECOND QUARTER 2009 – Dno International Asa – slide 2
    Agenda Summary and Operational Review Helge Eide, Managing Director Financial Review Haakon Sandborg, CFO Q&A Second Quarter 2009 2
  3. SECOND QUARTER 2009 – Dno International Asa – slide 3
    Shift in focus in 2009 Shift towards production and near term developments Completed remaining work to prepare Tawke Field for export Bayoot development on track for completion in 2009 Delivered increased production towards the end of…
  4. SECOND QUARTER 2009 – Dno International Asa – slide 4
    Production and reserves Average production (WI) Reserves and resources (WI)* 200 25000 Tawke export Kurdistan 13.1 180 2.5 178.3 Yemen 160 20000 162.6 140 120 15000 bopd MBBL 100 10000 80 60 5000 40 20 0 0…
  5. SECOND QUARTER 2009 – Dno International Asa – slide 5
    Q2 2009: Key financials Sales Netback Net profit 450 Tawke export 250 250 231 400 359 198 200 200 350 300 129 129 150 150 NOK million NOK million NOK million 250 129 200 413 100 100 185 150 230 100 50 50…
  6. SECOND QUARTER 2009 – Dno International Asa – slide 6
    YTD 2009: Key financials Sales Netback Net profit 900 Tawke export 450 400 369 800 400 350 700 350 300 129 600 542 300 250 NOK million NOK million NOK million 500 250 129 193 200 400 834 200 417 150 240 300 150…
  7. SECOND QUARTER 2009 – Dno International Asa – slide 7
    Operations Det norske oljeselskap ASA PL1067 Tawke Benenan (Hawler) Dohuk Sharyoof Tasour Nabrajah Bayoot Block 32, 43, 44, 47, 52, 53, 72 and 84 Block P Inhaminga Second Quarter 2009 7
  8. SECOND QUARTER 2009 – Dno International Asa – slide 8
    Kurdistan update Baghdad Tawke Field Stepwise build-up of production TURKEY IRAQ following commencement of export Tawke PSC Start-up of Diesel Topping Plant, initially for own consumption SYRIA Benenan discovery Dohuk PSC Sindy…
  9. SECOND QUARTER 2009 – Dno International Asa – slide 9
    Successful start-up of crude oil export from Kurdistan Production profile Tawke Start-up of export in line with agreed step-up 60,000 Export Local sales plan 50,000 Currently Tawke delivers around 50,000 bopd with 45,000 bopd for…
  10. SECOND QUARTER 2009 – Dno International Asa – slide 10
    12 Oil pipeline Operator responsibilities 40 and 46 Export pipeline TURKEY State Oil Marketing Organization IRAQ (SOMO) Sales at outlet in Turkey TAWKE PSC SYRIA DNO Iraq AS Tawke field Tawke pipeline Turkey's Petroleum…
  11. SECOND QUARTER 2009 – Dno International Asa – slide 11
    SAUDI ARABIA OMAN Yemen update Maydi Ras Issa terminal Sayun-Masila Basin Saywun Sanaa Ma'rib Shabwah Al Hudaydah Ash Shihr Production Al Mukalla Balhaf Bir Ali terminal Al Mukha Maintained…
  12. SECOND QUARTER 2009 – Dno International Asa – slide 12
    Mozambique update Second quarter update Lichinga Pemba INHAMINGA Entered 4th exploration period Acquisition of 2D seismic will be undertaken in 2H 2009 Nampula Tete Two drilling targets identified and drilling planned for…
  13. SECOND QUARTER 2009 – Dno International Asa – slide 13
    HSE Summary Continued positive trend through Q209 HSE performance trends No serious incidents year to date 12 Lost Time Incident Frequency* Vehicle Incident Frequency* 10 Total Recordable Incident Frequency* KPIs by end of second…
  14. SECOND QUARTER 2009 – Dno International Asa – slide 14
    FINANCIALS
  15. SECOND QUARTER 2009 – Dno International Asa – slide 15
    Financial summary Q2 2009 Quarterly key financials Key points 450 Sales Export start-up shows value created by 400 Exploration successful Tawke field development EBITDA Revenues increase on higher oil prices and 350 increasing…
  16. SECOND QUARTER 2009 – Dno International Asa – slide 16
    Financial summary Sales EBITDAX and EBITDA Netback 450 350 250 Tawke export Exploration Tawke export Tawke export 400 300 EBITDA 200 350 250 300 150 NOK million NOK million NOK million 250 200 100 200 150 150 50…
  17. SECOND QUARTER 2009 – Dno International Asa – slide 17
    Condensed income statement NOK Million Q2 2009 Q1 2009 Q2 2008 YTD 2009 YTD 2008 Sales 358.7 183.8 412.5 542.4 834.4 Cost of goods sold -203.1 -190.2 -177.8 -393.3 -390.7 Gross profit 155.6 -6.4 234.6 149.1 443.7 Dry well cost expensed…
  18. SECOND QUARTER 2009 – Dno International Asa – slide 18
    Investments in Q2 2009 Exploration expensed per segment CAPEX per segment 140 400 Yemen Yemen Kurdistan 350 Kurdistan 120 Africa Africa 300 100 250 80 NOK million NOK million 200 60 150 40 100 20 50 0 0 -20…
  19. SECOND QUARTER 2009 – Dno International Asa – slide 19
    NOK million 100 250 150 50 0 -50 200 Netback Q2'08 Production Price Q2 2008 Q2 2009 FX Exploration Netback analysis Other OPEX Tax Netback Q2'09 NOK million 100 250…
  20. SECOND QUARTER 2009 – Dno International Asa – slide 20
    Sources and Uses Q2 2008 Q2 2009 Cash flow coverage 500 180 12.00 Netback (before exploration)/Exploration 450 Other Netback (before exploration)/Exploration and CAPEX 160 Exploration Sale of financial 10.00 10.00 400 assets…
  21. SECOND QUARTER 2009 – Dno International Asa – slide 21
    Capital structure Assets Equity and liabilities 6000 Non-current assets Cash and cash equivalents 6000 Shareholders equity Non-current liabilities Other current assets Current liabilities 5000 5000 Cash: NOK 210 million 4000…
  22. SECOND QUARTER 2009 – Dno International Asa – slide 22
    Summary and closing remarks An historical milestone met Strong technical execution of crude oil exports and production build-up at the Tawke field Payment procedures for Tawke exports still pending, revenues and receivables booked in…
  23. SECOND QUARTER 2009 – Dno International Asa – slide 23
    THIRD QUARTER 2009: 11 NOVEMBER 2009 WELCOME BACK

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