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SEPTEMBER 2014 INTERIM RESULTS – Premier Oil

Premier Oil · Sep 16, 2004 · 47 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. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 1
    Interim Results Presentation 16 September 2004
  2. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 2
    Presentation Introduction Sir David John Finance and Operations John van der Welle Business Development Robin Allan Summary and Outlook Charles Jamieson Interim Results Presentation Page 2
  3. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 3
    Finance and operations Interim Results Presentation Page 3
  4. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 4
    Financial highlights Steady production 35.2 mboed Strong gas demand in performance (2003: 35.3 mboed*) Pakistan and Indonesia Turnover, operating All down on a comparative basis due to a weak profit and operating US and more gas…
  5. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 5
    Operational highlights UK Working interest production Indonesia (barrels of oil equivalent per day) Production 12,000 boepd Pakistan 40,000 UK Successful infill drilling at Wytch Farm Kyle well tie back (October production) 30,000…
  6. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 6
    Profit & loss Half year to Half year to 30 June 2004 30 June 2003 (Ongoing) Production (mboepd) 35.2 35.3 Working interest production Realised oil price (/bbl) 31.45 26.36 Turnover down more gas Realised oil price (/bbl) 17.28 16.55…
  7. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 7
    Cashflow Half year to Half year to Half year to 30 June 2004 30 June 2004 30 June 2003 (As reported) (Incl JV) (Ongoing, Incl JV) m m m Net cash flow from operations 41 52 68 Lower turnover and operating cashflow, partly Net…
  8. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 8
    Future field capex programme Development CAPEX ( million) 50 Indonesia 2nd Sale (contingent) Tiof (contingent) 45 Chinguetti 40 Indonesia Pakistan 35 UK 30 25 20 15 10 5 0 2004 2005 2006 2007 2008 Averaging 18 million…
  9. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 9
    Reserves and production Total 2P reserves 200+ mmboe (1) Working interest production (barrels of oil equivalent Mauritania Indonesia 2nd Sale (contingent) per day) Tiof (contingent) Chinguetti Unbooked (2) Indonesia Pakistan…
  10. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 10
    Business development Interim Results Presentation Page 10
  11. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 11
    2004 Business development strategy Exploration led, commercially driven 25m p.a. exploration expenditure 12 to 18 well programme p.a. 1/3 of wells offer step change growth opportunity Focus on Africa and Asia Interim Results…
  12. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 12
    18 month plan AFRICA 2004 2005 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Mauritania : Tevt A : Capitaine A Contingent wells : Tiof A : Merou A : Tiof B : Tiof C : Exp. Well : Tiof: D : Exp./App.…
  13. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 13
    Africa Gabon Dussafu-1 Gabon Interim Results Presentation Page 13
  14. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 14
    Africa Gabon: Dussafu Mytilus-1 Projected Dussafu-1 Well Location Dussafu Prospect Interim Results Presentation Page 14
  15. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 15
    Africa Mauritania Mauritania Interim Results Presentation Page 15
  16. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 16
    Africa Mauritania: drilling programme RIG 2004 2005 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN Exploration Chinguetti-J SEDC Prods Appraisal SE WI Chinguetti SWDC Development STENA TAY RIG NDC Banda-D Well…
  17. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 17
    Africa Mauritania: exploration prospects Tevt Banda Tiof Sotto Chinguetti Bogue Lead 60 Lead 100 Capitaine Merou NDor Fantar Tenit 3D Area MIS20 TWT surface North Interim Results Presentation Page 17
  18. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 18
    Africa Mauritania: Tiof Tiof West-1 Tiof-1 Brighter colours indicate presence of hydrocarbons and sands. Their location varies throughout the seismic volume due to the braiding of the channel system 3D visualisation of…
  19. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 19
    Africa Mauritania: Tevt Banda Tevt, if successful, would be tied Tevt back to the Chinguetti development. Amplitudes at the prospect are similar to those seen at Chinguetti, suggesting the presence of similar reservoir and…
  20. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 20
    Africa Mauritania: Capitaine S N Top Reservoir Depth 2km Top Reservoir Amplitude 10km Interim Results Presentation Page 20
  21. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 21
    Africa Mauritania: Merou Bright amplitudes in the Miocene section over the Merou structure W E Merou Salt 2.5 km Interim Results Presentation Page 21
  22. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 22
    Africa Egypt NW Gemsa Block, Gulf of Suez Basin Premier equity: 37.5% Operator: Kriti (Vegas) 3D seismic programme acquired Al Amir-1 to spud in December 2004. onshore flat desert terrain well cost under 3m gross targeting prospects…
  23. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 23
    Africa Egypt: NW Gemsa Block SAKARA DISCOVERY (June 2003) GAS PIPELINE REC : 80 m bbls OIL PIPELINE EAST ZEIT DISCOVERY (Oct 2001) REC : 70 m bbls Al Amir-1 Interim Results Presentation Page 23
  24. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 24
    Africa Egypt: NW Gemsa Block Proposed Al Amir-1 Zeit Bay-1 Al Amir-1 will drill a shallow trap and investigate the deeper stratigraphy. A subsequent contingent well may be drilled to test the deep pre-rift. Top S Gharib Top Belayim…
  25. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 25
    Africa Guinea Bissau Interim Results Presentation Page 25
  26. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 26
    Africa Guinea Bissau: Sinapa & Esperanca The results of the Sinapa-2,2z well have significantly reduced the risks of the salt diapir flank play in Guinea Bissau. Sinapa-2,2z 2005 programme will include new 3D seismic acquisition…
  27. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 27
    Africa Guinea Bissau 2005 Sabayon Sinapa-1 Sinapa-2,2z Sardinha Solha Espinafre Espargos Encharcada Eirozes Espadarte El Linguada Ervas Espetada Empada Interim Results Presentation Page 27
  28. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 28
    Asia Indonesia Natuna Sea Block A Premier Equity: 28.67% Operator: Premier Gajah Baru-2 appraisal & deep exploration well supporting existing and potential new gas sales and targeting increased reserves Macan Tutul-1 step-out well…
  29. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 29
    Asia Indonesia: Gajah Baru-2 location Gajah Baru-2 will appraise the Upper and Middle Arang Gajah Baru-1 Gajah Gajah-1 Gajah-2 Baru-2 reserves discovered by Gajah Baru-1. Additionally it will appraise deeper Gabus gas and oil discovered…
  30. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 30
    Asia Indonesia: Gajah Baru-2 location Gajah Baru-1 Gajah-1 Gajah-2 Gajah Baru-2 Interim Results Presentation Page 30
  31. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 31
    Asia India Interim Results Presentation Page 31
  32. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 32
    Asia India: Jaipur Block Lakkhi-1 Legend Prospect Oil Field Premier Block Interim Results Presentation Page 32
  33. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 33
    Asia Vietnam Interim Results Presentation Page 33
  34. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 34
    Asia Vietnam: prospects map Interim Results Presentation Page 34
  35. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 35
    Asia Vietnam: Block 7,8/97 seismic 2D seismic May 2004 2D seismic September 2004 1925 km of new seismic data being acquired using vessel MV Polar Duke Interim Results Presentation Page 35
  36. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 36
    Asia Vietnam 2005: Block 12E & W Swan Complex 12W-HA-1x tested at 24 MMscf/d with 829 bc/d. Canary Complex 12-C-1x tested at Dua Field 8.2 MMscf/d Dua-1X tested 1540 bopd of 39API oil from the Mid Miocene Dua Lark Formation 12-LK-1X…
  37. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 37
    2005 programme Taking shape Mauritania - up to 9 E&A wells (dependent on 2004 programme) Guinea Bissau - up to 3 wells Vietnam - 1 to 3 wells Plus 1 well in each of UK, Gabon, Egypt, Pakistan, India & Indonesia Interim…
  38. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 38
    18 month plan AFRICA 2004 2005 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Mauritania : Tevt A : Capitaine A Contingent wells : Tiof A : Merou A : Tiof B : Tiof C : Exp. Well : Tiof: D : Exp./App.…
  39. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 39
    Summary and outlook Interim Results Presentation Page 39
  40. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 40
    Summary and outlook Ingredients for Independents success Clear strategy / a good story Resources to play the game Leverage to success Just 1 or 2 successes needed Interim Results Presentation Page 40
  41. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 41
    Appendix Interim Results Presentation Page 41
  42. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 42
    Premier recent history West Natuna Indonesia 1996 Purchased Anoa block from Chevron for 72 million 1997/8 Drilled up gas. Negotiated WNG sale to Singapore. Largest pipeline gas project in SE Asia 1999 onwards Development and…
  43. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 43
    Areas of operation and strategy High impact explorer and commercial dealmaker Base business e.g. 30-50,000 boepd Cycle out/farm down assets when significant growth potential has been exploited Realise early value for…
  44. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 44
    Production operations UK Mature production, mainly oil Wytch Farm (picture), BP operated Kyle and Fife area fields UK production 12,000 boepd, reserves 24 mmboe Interim Results Presentation Page 44
  45. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 45
    Production operations - Indonesia West Natuna Gas (WNG) project Premier operated 650km pipeline to Singapore Production commenced 2001 27 year gas contract Indonesia production 13,000 boepd, reserves 79 mmboe Interim Results…
  46. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 46
    Production operations - Pakistan Onshore gas all in production, offshore exploration block (Shell) Bhit (picture) and Zamzama on-stream 2003 Long-term gas contracts, in dollars Successful drilling late 2003 Pakistan production…
  47. SEPTEMBER 2014 INTERIM RESULTS – Premier Oil – slide 47
    Development ops Mauritania: Chinguetti Development approved May 2004 Reserves of 120 mmbbls (Premier share 9.7 mmbbls) Development cost 600 million (Premier share 55 million) First oil Q1 2006 building to 75,000 bopd (Premier…

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