Lost time injury frequency (LTIF) Per million exposure hours 4 3 2 1 0 2008 2009 2010 2011 1Q 2012 LTIF 8 6 4 2 0 10 2008 2009 2010 2011 1Q 2012 FUHR UHR Spills Spills (>0.5 bbl), unintentional hydrocarbon releases (UHR) and…
TLM block Oil field Gas field TLM block Oil field Gas field Flotta Hub Flotta Hub Greater Fulmar Hub Greater Fulmar Hub Varg Hub Varg Hub Gyda Hub Gyda Hub Non-operated Non-operated UK Norway MonArb Hub MonArb Hub 0 50 100…
NORTH SEA STRATEGY ? OPTIMIZE BASE AND FURTHER EXTEND PORTFOLIO LIFE A strategic plan in place centered on People, Processes and Plant Base production improved through operational capability Base production improved through…
Cash flow $ billion Capital expenditure SIGNIFICANT CASH FLOW WITH UPSIDE EXPOSURE IN A STRONG PRICE ENVIRONMENT Incremental production mboe/d 0.0 0.5 1.0 1.5 2.0 2009-2011 average 2012-2015 average 2016-2020 average 0…
IMPROVING BASE ? BUILDING RELIABILITY THROUGH INVESTMENT IN OUR PEOPLE, PROCESS AND PLANT ? Increased production (2.1 mmboe net) through higher volumes of water delivered at increased pressure ? Standard specification simplifies…
>100%* 6 IRR Wells 19 22 13 3 1 >100%* >50% ~50% >60% >90% MonArb Hub Greater Fulmar Hub Flotta hub Varg Hub Gyda Hub Norway non-operated OPTIMIZING RECOVERY ? INFILL WELL OPPORTUNITIES SUSTAIN PRODUCTION NPV 10% ($…
Production mboe/d 81% 67% 48% 0 25 50 75 100 2008-2010 2011-2014 2015-2017 Major project implemented Investment in People, Process & Plant 5 0 10 15 20 25 2011 2017 2030 MONTROSE AREA REDEVELOPMENT ? EXTENDS ASSET…
Fulmar/Auk operating efficiency Percentage (%) 87% 80% 61% 0 25 50 75 100 2008-2010 2011-2015 2016-2017 5 0 10 15 20 25 2011 2016 2026 AUK AREA REDEVELOPMENT EXTENDS FIELD LIFE TO 2026 Base Auk Area Redevelopment Old…
? Operating efficiency over 90% ? Hub infrastructure allows unlocking of projects, extending field life ? 3 infill wells in 2012 ? Gas export project ? Tie-back of Grevling development ? Potential exploration upside from 2012…
SUMMARY ? Generating strong cash flow through an oil focused portfolio ? Improving reliability through maintaining plant integrity and increasing operating efficiency ? Investing in highly economic infill drilling opportunities to…