Exploration in Frontier Basins World Oil & Gas Assembly, Bangalore, December 2009 Dr Mike Watts, Cairn Energy PLC Discovering hidden value through entrepreneurial exploration Discovering hidden value through entrepreneurial…
Exploration in Frontier Basins Focus on materiality Early entry Exploration potential Commercial terms WOGA Bangalore December 2009 Discovering hidden value through entrepreneurial exploration 4
Examples of Evolving Frontier Basins Greenland Chukchi Sea Basins Himalayan Basin Gulf of Mexico Deepwater KG Basin Rajasthan Ghana African Rift Basin Brazil Uganda Tano Basin Santos Basin 5 WOGA Bangalore December…
Frontier Discoveries and Potential Brazil Tupi, Lara, Guara Ghana Disko + D6 Jubilee South Greenland Dhirubai Rajasthan Mangala Modified from Sanford Bernstein Research Nov 2009 WOGA Bangalore December 2009 Discovering…
Risk Mapping Political Risk Rajasthan KG Basin Greenland Basins Technical Commercial Risk Risk WOGA Bangalore December 2009 Discovering hidden value through entrepreneurial exploration 7
KG Deepwater Basin Frontier to Producing Basin Reliance awarded D6 Ravva D6 Dhirubai 14 Tcf 2P 300 million boe RAVVA 2.8 Bcf/d Production Cairn 1994 1999 Plateau production Other discoveries 65,000 boe Block 40 Tcf in total NELP I…
GREENLAND - Overview USGS places Greenland in the top ten yet to find hydrocarbon destinations of the world GREENLAND Cairn initial prospect and lead inventory confirms multi-billion bbl unrisked exploration potential in the Disko…
Greenland Frontier Basins North North East Basin Basin Year Oil Price Government Take 1974 4-10 / bbl 80% Baffin Bay 2009 80 / bbl 50% Basin Ilulissat NORWAY Western Basin Nuuk Qaqortoq South East Basin UK…
GREENLAND Source Rock Landslides in 1933 and 1958 WOGA Bangalore December 2009 Discovering hidden value through entrepreneurial exploration 12
GREENLAND Oil Seeps Disko West Nuussuaq 1 Extensive peninsula satellite slicks 1 Extensive satellite Cairn slicks reported GREENLAND 4 3 Lancaster Exxon, Disko Chevron, Island Sound Oil shows and gas at outcrop and Cairn…
GREENLAND reservoirs WOGA Bangalore December 2009 Discovering hidden value through entrepreneurial exploration 14
GREENLAND Plays and Structures Tertiary Fan Complex Tilted Fault Block 50 Km WOGA Bangalore December 2009 Discovering hidden value through entrepreneurial exploration 15
Frontier Exploration Strategy Frontier exploration offers company transformational potential when commercial terms are appropriate to the Early entrants in frontier basins high initial technical risk can become Basin Masters…