Half-Yearly Results Presentation August 2015 Delivering value from discovery and development
Simon Thomson Chief Executive Delivering value from discovery and development
Half-Yearly Results Presentation, August 2015 4 Strategy Mature basin exploration and development Balanced Frontier and emerging basin exploration with primary focus Business Model on Senegal Fully Funded Core development…
James Smith Chief Financial Officer Delivering value from discovery and development
Half-Yearly Results Presentation, August 2015 6 Group Funding Group cash at 30 June 2015 of US725m Seven year Reserve Based Lending bank facility up to US575m remains undrawn Forecast exploration and appraisal expenditure for…
Half-Yearly Results Presentation, August 2015 7 Capital Expenditure Committed Exploration H2 2015 YE 2017 Catcher and Kraken and Appraisal Programme 170m Development Capex 615m Other UK & Catcher 10m Norway* 180m 30m 130m…
Half-Yearly Results Presentation, August 2015 8 Finance Summary Fully funded to deliver our exploration, appraisal and development programme Debt facility remains undrawn and available Low oil price break even economics across…
Richard Heaton Exploration Director Delivering value from discovery and development
Half-Yearly Results Presentation, August 2015 10 Senegal 2015 Programme Total Acreage Government of Senegal agreement for an extensive 7,490km2 evaluation plan submitted by Joint Venture (JV) Q2 2015 Appraisal and exploration…
Half-Yearly Results Presentation, August 2015 11 Senegal Full Block Potential Full block potential of gross mean risked resource of 1 bn bbls* SNE 2C resource, currently 330 mmbbls SNE Initial projected production 50,000 100,000…
Half-Yearly Results Presentation, August 2015 12 Senegal SNE Field Forward Programme 2015 / 2016 SNE-1 Appraisal Objectives Coring and testing of the reservoir: Determine reservoir continuity and connectivity Establish productivity of…
Half-Yearly Results Presentation, August 2015 13 Senegal SNE-2 Appraisal Target at the SNE Field First appraisal well SNE-2, is in the Sangomar Deep Offshore block, 3km north of the SNE-1 discovery SNE-2 is a Crestal well in a…
Half-Yearly Results Presentation, August 2015 14 Senegal SNE-3 Appraisal Target to South of the SNE Field The second appraisal well SNE-3, on Southern Flank expected to begin late Q4 2015 / early Q1 2016 Well will test the southern…
Half-Yearly Results Presentation, August 2015 15 Senegal BEL-1 Appraisal Target to North of the SNE Field The third appraisal well BEL-1, is on the Northern Flank and is expected to begin Q1 2016 This well has a significant…
Half-Yearly Results Presentation, August 2015 16 Senegal Future Exploration Programme Confirmation of source rock and burial history from new data Remapping key reservoir and source intervals RUFISQUE LEAD 1 FAN-1 Redefining…
Half-Yearly Results Presentation, August 2015 17 Senegal Bellatrix Prospect Bellatrix Prospect BEL-1 exploration and appraisal well Bellatrix Prospect lies above the northern flank of SNE discovery BEL-1 Loc. Will test the…
Half-Yearly Results Presentation, August 2015 18 Development From Discovery to Development Evaluation programme aims to confirm volumes, connectivity and productivity Preliminary foundation development concept for SNE Standalone FPSO…
Half-Yearly Results Presentation, August 2015 19 UK and Norway Catcher Development Premier (Operator) 50%, Cairn 20%, MOL 20% and Dyas 10% Gas export PLEM Installation The Catcher project remains within budget and on schedule for…
Half-Yearly Results Presentation, August 2015 20 UK and Norway Kraken Development EnQuest (Operator) 60%, Cairn 25% and First Oil 15% Subsea: Aker and The Kraken project remains within budget and on Technip schedule for first oil…
Half-Yearly Results Presentation, August 2015 21 UK and Norway Developments and Exploration in Mature and Emerging Basins Norway Skarfjell (20% Cairn) early stage development planning Norwegian 2014 Licensing Round: Awarded five…
Simon Thomson Chief Executive Delivering value from discovery and development
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