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ANALYST PRESENTATION – Cairn India

Cairn India · Feb 10, 2009 · 67 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. ANALYST PRESENTATION – Cairn India – slide 1
    Cairn India Analyst Presentation Mumbai February 2009 CAIRN INDIA LTD Analyst Presentation Mumbai, February 2009
  2. ANALYST PRESENTATION – Cairn India – slide 2
    Cairn India Analyst Presentation Mumbai February 2009 3 Agenda Cairn India Overview - Rahul Dhir, Chief Executive Officer Rajasthan Project: Rick Bott, Chief Operating Officer S V Nair, Director Projects H P Bhalla, Director…
  3. ANALYST PRESENTATION – Cairn India – slide 3
    Cairn India Analyst Presentation Mumbai February 2009 4 Cairn Overview Rahul Dhir Chief Executive Officer 09S0004AE00
  4. ANALYST PRESENTATION – Cairn India – slide 4
    Cairn India Analyst Presentation Mumbai February 2009 5 Overview Rajasthan Focused on delivery and growth World class resource base Enhanced Oil Recovery (EOR) potential Pipeline route allows access to multiple buyers Large…
  5. ANALYST PRESENTATION – Cairn India – slide 5
    Cairn India Analyst Presentation Mumbai February 2009 6 Overview - Journey Since IPO Maximise Execute Maximise Identify recovery from Rajasthan Potential in new growth production base development Rajasthan opportunities…
  6. ANALYST PRESENTATION – Cairn India – slide 6
    Cairn India Analyst Presentation Mumbai February 2009 7 Overview - Cairn India Assets Rajasthan Exploration (RJ-ON-90/1) Total 14 blocks Cairn (Operator) 100% 2 Production Blocks Rajasthan Development Operated gross field…
  7. ANALYST PRESENTATION – Cairn India – slide 7
    Cairn India Analyst Presentation Mumbai February 2009 8 Overview - Transformational Growth 200,000 bopd Gross Increase in production Cairn India Gross: 200% production including Working Interest 600% peak output from Mangala,…
  8. ANALYST PRESENTATION – Cairn India – slide 8
    Cairn India Analyst Presentation Mumbai February 2009 9 Overview - Rajasthan Funding Estimated Costs US billion Financed By US million Gross 2008 and 2009 2.0 Cash available 441 (1st Jan08) Upstream 1.2 Pipeline 0.8 Cash flow…
  9. ANALYST PRESENTATION – Cairn India – slide 9
    Cairn India Analyst Presentation Mumbai February 2009 10 Rajasthan Project Rick Bott Chief Operating Officer 09S0004AE00
  10. ANALYST PRESENTATION – Cairn India – slide 10
    Cairn India Analyst Presentation Mumbai February 2009 11 Rajasthan - Overview Shakti N-I-North Shakti NE 1995 - Production Sharing Contract Development Area-2 Awarded: Nov 2006 NC West Oil and Gas (PSC) awarded Area: 430 km2…
  11. ANALYST PRESENTATION – Cairn India – slide 11
    Cairn India Analyst Presentation Mumbai February 2009 12 Rajasthan - Reserves and Resource Base MBA Fields 2 billion boe under development Reserves and Resources over 1 billion boe Gross 2P recoverable Chemical EOR…
  12. ANALYST PRESENTATION – Cairn India – slide 12
    Cairn India Analyst Presentation Mumbai February 2009 13 Rajasthan - Production Schedule Mangala Processing Terminal (MPT) four processing trains; capacity 205,000 bopd: Schematic Train 1 (30,000 bopd capacity) Q3 2009 Initial…
  13. ANALYST PRESENTATION – Cairn India – slide 13
    Cairn India Analyst Presentation Mumbai February 2009 14 Rajasthan - Recovery System Fuel Gas Distribution Gas Recovery System System Export Oil Storage Separator + Heat Export Pipeline Water Injector Vertical…
  14. ANALYST PRESENTATION – Cairn India – slide 14
    Cairn India Analyst Presentation Mumbai February 2009 15 Rajasthan - Project Delivery UPSTREAM PIPELINE PROJECT ACTIVITY Status Status Detailed Engineering and Design 9 9 Land Acquisition / Right Of User (RoU) and Statutory…
  15. ANALYST PRESENTATION – Cairn India – slide 15
    Cairn India Analyst Presentation Mumbai February 2009 16 Rajasthan - Contracts Staggered contracting strategy civil and main contract Early award of civil contract (Dec 2007) to fast track site development Major contracts awarded…
  16. ANALYST PRESENTATION – Cairn India – slide 16
    Cairn India Analyst Presentation Mumbai February 2009 17 Rajasthan S V Nair Director Projects 09S0004AE00
  17. ANALYST PRESENTATION – Cairn India – slide 17
    Cairn India Analyst Presentation Mumbai February 2009 18 Rajasthan - Development Layout MPT and well Integrated upstream and midstream development Bhagyam pads Field focused around MPT with local power and water supply…
  18. ANALYST PRESENTATION – Cairn India – slide 18
    Cairn India Analyst Presentation Mumbai February 2009 19 Rajasthan - Mangala Processing Terminal Steam Turbine 1 3 Generators Steam Boilers 2 Oil Export Tanks Water Tanks Power Water Oil Injection Water Settling…
  19. ANALYST PRESENTATION – Cairn India – slide 19
    Cairn India Analyst Presentation Mumbai February 2009 20 Rajasthan - MPT Construction Progress Boiler Area Boiler Area Pipe rack 2 09S0004AE00
  20. ANALYST PRESENTATION – Cairn India – slide 20
    Cairn India Analyst Presentation Mumbai February 2009 21 Rajasthan - MPT Construction Progress Off Spec & Settling Tanks Well Pad 9 09S0004AE00
  21. ANALYST PRESENTATION – Cairn India – slide 21
    Cairn India Analyst Presentation Mumbai February 2009 22 Rajasthan H P Bhalla Director Midstream 09S0004AE00
  22. ANALYST PRESENTATION – Cairn India – slide 22
    Cairn India Analyst Presentation Mumbai February 2009 23 Rajasthan - Export Pipeline Heated and insulated pipeline 600 km More than 30 heating stations 1 Mega Watt power generator at heating stations Pipeline passing through…
  23. ANALYST PRESENTATION – Cairn India – slide 23
    Cairn India Analyst Presentation Mumbai February 2009 24 Rajasthan - Pipeline Schematic Sanchore Heated crude 35 SEHMS Pigging Station oil pipeline Mangala Processing Terminal Gas pipeline Raageshwari Gas supply Viramgam…
  24. ANALYST PRESENTATION – Cairn India – slide 24
    Cairn India Analyst Presentation Mumbai February 2009 25 Rajasthan - Pipeline Construction Work Pipe laying 09S0004AE00
  25. ANALYST PRESENTATION – Cairn India – slide 25
    Cairn India Analyst Presentation Mumbai February 2009 26 Rajasthan - Viramgam Terminal Cairn constructed oil storage tank 09S0004AE00
  26. ANALYST PRESENTATION – Cairn India – slide 26
    Cairn India Analyst Presentation Mumbai February 2009 27 Rajasthan Resources Ananthakrishnan Head Reservoir Development 09S0004AE00
  27. ANALYST PRESENTATION – Cairn India – slide 27
    Cairn India Analyst Presentation Mumbai February 2009 28 Rajasthan Resources - Cairn MBA 2P Estimates STOIIP (mmboe) 2P Gross (mmboe) 2P Net (mmboe) 2,054 MBA & MBA EOR 685 MBA 479 MBA EOR MBA EOR MBA 308…
  28. ANALYST PRESENTATION – Cairn India – slide 28
    Cairn India Analyst Presentation Mumbai February 2009 29 Rajasthan Resources - Mangala Application of cost effective technology has 1500 resulted in: Mangala 20% increase in STOIIP over FDP 1293 STOIIP mmbbls 30% increase in…
  29. ANALYST PRESENTATION – Cairn India – slide 29
    Cairn India Analyst Presentation Mumbai February 2009 30 Rajasthan Resources - Bhagyam And Aishwariya Bhagyam 3D Bhagyam Field Development Plan (FDP) approved: Offtake rate 40,000 bopd Front End Engineering Design (FEED)…
  30. ANALYST PRESENTATION – Cairn India – slide 30
    Cairn India Analyst Presentation Mumbai February 2009 31 Rajasthan Resources - EOR Increased reserves Schematic Better sweep efficiency Better displacement efficiency 175,000 EOR Current FDP bopd Potential to extend and…
  31. ANALYST PRESENTATION – Cairn India – slide 31
    Cairn India Analyst Presentation Mumbai February 2009 32 Rajasthan Resources - EOR Courtesy : SNF 09S0004AE00
  32. ANALYST PRESENTATION – Cairn India – slide 32
    Cairn India Analyst Presentation Mumbai February 2009 33 Rajasthan Resources - EOR Processes Alkaline-Surfactant-Polymer (ASP) Flooding Oil Saturation Display at Pore Level Reduction in Trapped Oil Original oil Sand Grain…
  33. ANALYST PRESENTATION – Cairn India – slide 33
    Cairn India Analyst Presentation Mumbai February 2009 34 Rajasthan Resources - EOR Analogue Fields Analogue Field Performance Daqing - ASP Pilot Performance Two large oil fields in China (Daqing and Shengli) have produced 100…
  34. ANALYST PRESENTATION – Cairn India – slide 34
    Cairn India Analyst Presentation Mumbai February 2009 35 Rajasthan Resources - EOR Laboratory Studies Core Flood: Two independent laboratories indicate 30-40% incremental recovery from ASP Oil Cut, % Cumulative Oil, %…
  35. ANALYST PRESENTATION – Cairn India – slide 35
    Cairn India Analyst Presentation Mumbai February 2009 36 Rajasthan Resources - EOR Potential Timelines EOR potential from MBA fields is 300 mmbbls Mangala Discovery Well January 2004 Mangala EOR pilot planning under final…
  36. ANALYST PRESENTATION – Cairn India – slide 36
    Cairn India Analyst Presentation Mumbai February 2009 37 Rajasthan Resources - Barmer Hill Potential STOIIP 400 mmbbls Low permeability reservoir Further technical studies underway fracture stimulation required Wells tested…
  37. ANALYST PRESENTATION – Cairn India – slide 37
    Cairn India Analyst Presentation Mumbai February 2009 38 Rajasthan Resources - Small Fields SHAKTI Shakti NE N-I-North Low cost development through technology application NC West Oil and Gas Low Cost drilling N-I Mangala…
  38. ANALYST PRESENTATION – Cairn India – slide 38
    Cairn India Analyst Presentation Mumbai February 2009 39 Rajasthan Crude Marketing P Elango Director Strategy 09S0004AE00
  39. ANALYST PRESENTATION – Cairn India – slide 39
    Cairn India Analyst Presentation Mumbai February 2009 40 Rajasthan Crude - Marketing Overview India currently: Imports*: 2.4 mmbbls/day Produces*: 680,000 bbls/day Exports: 400,000 bbls/day of product Sufficient demand for…
  40. ANALYST PRESENTATION – Cairn India – slide 40
    Cairn India Analyst Presentation Mumbai February 2009 41 Rajasthan Crude - Quality Classification Range Crudes Indian Crude Slate : 2007 - 2008 Bombay High (39.3) Light 31 Brent (38.0), WTI (38.7) API o Dubai (30.4)…
  41. ANALYST PRESENTATION – Cairn India – slide 41
    Cairn India Analyst Presentation Mumbai February 2009 42 India - Crude Quantity Indian Crude Slate : 2007 - 2008 Imported 78.1% 60.8% 75.9% Domestic 21.9% 100% Domestic 79.7% 39.2% 24.1% Rajasthan Crude 20.3% Coastal…
  42. ANALYST PRESENTATION – Cairn India – slide 42
    Cairn India Analyst Presentation Mumbai February 2009 43 Rajasthan Crude - Sales Contractors sell Crude to government (or its nominee) on price determined as per PSC Government Government Free Nominees purchases full…
  43. ANALYST PRESENTATION – Cairn India – slide 43
    Cairn India Analyst Presentation Mumbai February 2009 44 Rajasthan Crude - Marketing Bhatinda Multiple Customers Panipat On land and coastal DELHI Access to 75% of Indias refining capacity Rajasthan Mathura Multimodal…
  44. ANALYST PRESENTATION – Cairn India – slide 44
    Cairn India Analyst Presentation Mumbai February 2009 45 Rajasthan Crude - Summary Targets achieved: GoI agreed to shifting of Delivery Point GoI agreed to nominate multiple buyers Blending studies carried out Evaluated the…
  45. ANALYST PRESENTATION – Cairn India – slide 45
    Cairn India Analyst Presentation Mumbai February 2009 46 Producing Assets Santosh Chandra Director Drilling and Petroleum Engineering 09S0004AE00
  46. ANALYST PRESENTATION – Cairn India – slide 46
    Cairn India Analyst Presentation Mumbai February 2009 47 Producing Assets CB/OS-2 - Onshore Plant Capacity RAVVA - Onshore Plant Capacity Crude 10,000bpd Crude 70,000bpd Gas Processing 150 MMscfd Gas Processing 95 MMscfd…
  47. ANALYST PRESENTATION – Cairn India – slide 47
    Cairn India Analyst Presentation Mumbai February 2009 48 Producing Assets - Ravva Field Field Milestones Increased production from 3,700 bopd to 50,000 bopd now in decline Plateau extended to 8 years, reserves doubled Produced…
  48. ANALYST PRESENTATION – Cairn India – slide 48
    Cairn India Analyst Presentation Mumbai February 2009 49 Producing Assets - CB/OS-2 Cambay Basin Field Milestones Discovery to delivery in 26 months HSE Standards 1.4 million hours with no LTI ISO14001 and OHSAS18001…
  49. ANALYST PRESENTATION – Cairn India – slide 49
    Cairn India Analyst Presentation Mumbai February 2009 50 Producing Assets - Forward Strategy Maintain world class QHSE standards and operating practices Enhance value through maximising production and reserves Application of…
  50. ANALYST PRESENTATION – Cairn India – slide 50
    Cairn India Analyst Presentation Mumbai February 2009 51 Exploration David Ginger Director Exploration 09S0004AE00
  51. ANALYST PRESENTATION – Cairn India – slide 51
    Cairn India Analyst Presentation Mumbai February 2009 52 Exploration - Platform for Future Major long term player Large proprietary database Experienced team Successful exploration over 10 years: Success ratio 40% Cairn…
  52. ANALYST PRESENTATION – Cairn India – slide 52
    Cairn India Analyst Presentation Mumbai February 2009 53 Exploration - Integrated Application of Technology Reprocessed and enhanced regional gravity data used in integrated basin modeling OLD Cairn reprocessed…
  53. ANALYST PRESENTATION – Cairn India – slide 53
    Cairn India Analyst Presentation Mumbai February 2009 54 Exploration - Portfolio Portfolio Content Net Unrisked Prospective Resource (mmboe) Frontier and Emerging Play Plays Extensions 66% 23% Deep Water Onshore…
  54. ANALYST PRESENTATION – Cairn India – slide 54
    Cairn India Analyst Presentation Mumbai February 2009 55 Exploration - Raageshwari East Discovery Separate oil discovery adjacent to Raageshwari Raageshwari field Oil Field Test: 500 bopd and 0.4 mmscfd, 40o API waxy oil…
  55. ANALYST PRESENTATION – Cairn India – slide 55
    Cairn India Analyst Presentation Mumbai February 2009 56 Exploration - Kameshwari West Development Area Development Area-2 Third Development Area awarded by GoI Awarded: Nov 2006 Area: 430 km2 Kameshwari West Development…
  56. ANALYST PRESENTATION – Cairn India – slide 56
    Cairn India Analyst Presentation Mumbai February 2009 57 Exploration - Sri Lanka: Block SL 2007-01-001 Cairn Lanka 100% Working Interest (NOC back-in 15%) India Block Area: 3,000 km2 Water depth: 200-1,800 m Extension of…
  57. ANALYST PRESENTATION – Cairn India – slide 57
    Cairn India Analyst Presentation Mumbai February 2009 58 Exploration - Ongoing Programme RJ-ONN-2003/1 VN-ONN-2003/1 GV-ONN-2003/1 GV-ONN-2002/1 2 to 4 wells Finish processing of Complete 550 km 2D Complete drilling 2D seismic.…
  58. ANALYST PRESENTATION – Cairn India – slide 58
    Cairn India Analyst Presentation Mumbai February 2009 59 Finance Indrajit Banerjee Chief Financial Officer 09S0004AE00
  59. ANALYST PRESENTATION – Cairn India – slide 59
    Cairn India Analyst Presentation Mumbai February 2009 60 Finance - Consistent Cash Flow from Operations 100 102 US million 86 23 74 76 25 71 20 2 Cash cost 60 8 60 14 17 3 8 27 Tax 29 6 3 3 21 Other income 17 9 9 2 10…
  60. ANALYST PRESENTATION – Cairn India – slide 60
    Cairn India Analyst Presentation Mumbai February 2009 61 Finance - Cost Efficient Operations Production cost at Ravva and CB Other costs US / boe Field Direct Opex 7.22 7.14 6.25 6.18 5.93 3.85 4.05 4.88 4.83 4.59 3.72 3.16…
  61. ANALYST PRESENTATION – Cairn India – slide 61
    Cairn India Analyst Presentation Mumbai February 2009 62 Finance - Price Realisation Oil Price Realisation Gas Price Realisation 140 6 128 118 122 120 4.8 116 5 4.7 4.6 118 100 4.4 4.4 112 4.2 4.2 4.1 100 91 97 4 89…
  62. ANALYST PRESENTATION – Cairn India – slide 62
    Cairn India Analyst Presentation Mumbai February 2009 63 Finance - Rajasthan Funding 2009 Estimated Costs US billion Financed By US million Gross 2008 and 2009 2.0 Cash available 441 (1st Jan08) Upstream 1.2 Pipeline 0.8 Cash…
  63. ANALYST PRESENTATION – Cairn India – slide 63
    Cairn India Analyst Presentation Mumbai February 2009 64 Finance - Government of India Share Profit Petroleum 65% Ravva US192.3 million US279 million Sales Tax Income 23% Tax US78 million 3% Cess Corporate Taxes CB/OS-2…
  64. ANALYST PRESENTATION – Cairn India – slide 64
    Cairn India Analyst Presentation Mumbai February 2009 65 Finance - Rajasthan Profit Sharing Gross Revenue Gross Revenue: Sales Revenue Cost Petroleum: Cost Petroleum 100% Cost recovery of Exploration, Development and…
  65. ANALYST PRESENTATION – Cairn India – slide 65
    Cairn India Analyst Presentation Mumbai February 2009 66 Finance - Summary Funding in place to deliver core Rajasthan project and pipeline Consistent performance of Cash Generation from efficient operations Achieved an average…
  66. ANALYST PRESENTATION – Cairn India – slide 66
    Cairn India Analyst Presentation Mumbai February 2009 67 Conclusion Rahul Dhir Chief Executive Officer 09S0004AE00
  67. ANALYST PRESENTATION – Cairn India – slide 67
    Cairn India Analyst Presentation Mumbai February 2009 68 Conclusion Rajasthan Focused on delivery and growth World class resource base Enhanced oil recovery potential Pipeline route allows access to multiple buyers Large…

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