1. Introduction & overview Tony Hayward (Chairman) 2. Oil Assets Murat zgl (CEO) 3. Gas Business Murat zgl (CEO) 4. Financials Ben Monaghan (CFO) 5. Summary & Outlook Tony Hayward (Chairman) 6. Q&A Panel
KRI oil - strong operational momentum: H1 2015 production of 88,800 bopd, + 41% year-on-year 2015 production guidance maintained at 90-100,000 bopd Tawke facilities upgraded to 200,000 bopd Taq Taq CPF 2 completion on-track for…
Taq Taq Tawke Gross average production of 128,000 bopd in H1 2015, +39% Gross average production of 129,000 bopd in H1 2015, +54% year-on-year year-on-year 63% sold via KRI pipeline, 24% to Bazian, 13% domestic sales 81% sold via…
Miran and Bina Bawi a world-class resource 11.4 tcf of gross mean raw gas, 8.4 tcf of gross mean sales gas 34 mmbbls mean oil reserves & resources, 45 mmbbls mean first-stage condensate resources Onshore location and scale deliver…
Upstream MidstreamCo Responsible for the gas treatment facilities at Miran and Bina Bawi Miran and Bina Bawi, 100% operated and owned by Genel Energy(1) Genel leading on EPC tender and securing equity and debt financing Delivery of…
Genel to own 100% interest in Miran and Bina Bawi PSCs KRGs 25% interest in Miran and 20% interest in Bina Bawi to be transferred to Genel OMVs 36% operated interest in Bina Bawi to be acquired by Genel PSC Amendment Agreements…
Gas Supply Agreement (GSuA): Terms under which raw gas (after removal of first stage condensate) is sold to the KRG Turkey GSA/crude oil sales backed guarantee provided by the KRG Genel commits to deliver raw gas on the following…
MidstreamCo A company (MidstreamCo) will be contracted by the KRG on a build, own, operate and transfer (BOOT) basis for the gas treatment facilities MidstreamCo will receive a tolling fee from the KRG on a toll-or-pay basis for the…
Point forward capex for the upstream gas development: 2.9 billion, 1 billion to be incurred before first gas Source: KRI 2014 The Oil Point forward capex for the upstream oil development: 400 million, 60 & Gas Year, Company…
Full form agreements PSC Amendment Agreements and Gas Supply Agreement H2 2015 Midstream H2 2015 EPC award H1 2016 Midstream financial close H2 2016 FID on midstream/upstream after financial close First gas 30-36 months after…
H1 2015 revenue of 199 million, an increase of 4% on H1 2014 Production volumes (+41% year-on-year) offset by fall in realisations (-42% y-o-y) 2015 guidance(1) of 350-400 million at a Brent price of 50/bbl H1 2015 EBITDAX of 158…
Significant production growth million H1 2015 H1 2014 YoY Higher volumes due to increased production capacity at both Taq Taq and Tawke and exports via KRI-Turkey pipeline, Average production (kbbl/d) 88,800 63,000 +41% Overall H1 15…
230m senior 600 unsecured bonds issued in Net debt of March 2015 216m 50 12 24 102 489 196 19 500 474 90 400 Taq Taq and Tawke local Reflects payment for 2014 activity sales incurred in 2015 15 c.70m for Africa m…
150 200 million H1 2015 capex of 93 million 70% reduction on H1 2014 Majority of spend on development at Taq Taq and Tawke 2015 guidance of 150-200 million 93 million Reduced from 200-250 million at July trading statement…
Existing debt 730 million 7.5% senior unsecured bond with 2019 maturity At end- H1 2015, net receivable in respect of unpaid KRI production stood at 378 million Some level of receivable (typically 3-4 months of revenue) will be a…
KRG exports to Ceyhan via KRI-Turkey pipeline 600,000 bopd KRI direct sales from Ceyhan now c.500,000 bopd, significant positive impact on KRG finances KRG makes public commitment to sustainable contractor payments from September…
REGIONAL PIPELINE INFRASTRUCTURE Tank Farm = 10 mmbbls capacity Allocated to KRI = 5 mmbbls capacity 40 pipeline with 700,000 bopd capacity Tawke field, 250,000 bopd of pipeline capacity 700,000 bopd of pipeline capacity, to…
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