1 Upgrade of Shaikan Reserves John Stafford, VP Operations 1 October 2015
from oil-in-place to reserves in Kurdistan 2 One of the largest acreage holders in Kurdistan with two operated commercial discoveries: Shaikan and Sheikh Adi Shaikan Field Development Plan (FDP) approved by the Kurdistan Regional…
2015 CPR Summary 3 Shaikan Profile and Reserves Gross 2P Reserves increased by 114% to 639 MMstb(1) Gross 2C Resources 239 MMstb, as a result of reallocation of 2C to 2P 142 MMstb recognised beyond the term of the PSC Total…
Shaikan reserves evolution 4 CPR 1P % increase 1C 1P+1C TRV(1) 1P+1C+TRV Net diluted WI (MMstb) to GKP - 1P March 2014 198 244 442 0 442 108 Sept 2015 306 55% 85 391 90 481 166 2P 2C 2P+2C TRV 2P+2C+TRV Net diluted WI to GKP -…
KURDISTAN PEERS net 2P RESERVES 5 484 437 348 215 163 12 4 DNO Genel Gulf Keystone Oryx Gulf Keystone ShaMaran WesternZagros CPR 2015 CPR 2014 Source: Company Filings All values in MMboe
Shaikan Geology & Geophysics UPDATE 6 Seismic Interpretation Fracture Model STOIIP Matrix Model
Shaikan Reservoir Performance 8 2014 Assumption: Water provides pressure support OWC N Aquifer
Shaikan Reservoir Performance 9 2015 Assumption: Gas Cap Expansion and Gravity drainage OWC N Aquifer
Shaikan development concept comparison 10 2014 SH11 2015 Gas Reinjection Production wells (deviated or short horizontal)
Shaikan development concept - Jurassic 11 International border Syria Turkey Shaikan block Ber Bahr Discovery Sheikh Adi Export pipeline Proposed spur line New central facility Shaikan development flowline Gas and water…
Shaikan 2P Production Profile 12 Additional Process trains for Triassic and Cretaceous Continued Drilling Additional process trains Wells to Jurassic and Triassic Gas and water treatment ESPs Existing wells and facilities…
Forecast for existing wells & facilities 13 Production from the existing wells and facilities can be sustained over 10 years Average Reserves per well for the first 9 wells is 25-30 MMstb Investment to sustain an average 40,000…
Shaikan: increased dataset and reserves 14 Shaikan - Increased dataset Produced 15 MMstb…
Sheikh Adi: appraisal area & new prospect 15 Ber Bahr Crest 112 MMstb of 2C Contingent Resources NW Area 169 MMstb of Prospective Resources Initial Appraisal Area Upside SA-3 SA Licence Boundary Footwall communication…