Clean Energy For the MENA Regions Tomorrow Dana Gas Analyst Presentation 2015 Preliminary Results 15 February 2016 www.danagas.com 1
Presentation Outline Performance Highlights Financing Update Country Performance Egypt Kurdistan Region of Iraq Zora Gas Project Update Summary www.danagas.com 3
Performance Highlights Dr Patrick Allman-Ward Chief Executive Officer www.danagas.com 4
2015 Performance Highlights - 1 2015 was a tough year for the oil and gas sector as a whole: Oil prices were down by half: realized prices 50 for condensate and 37 for LPG (97 and 64, respectively in 2014) Headcount has been reduced…
2015 Performance Highlights - 2 We have significantly increased our oil & gas reserves with overall 2P reserves around 690 MMboe Increase in 1P certified reserves in Egypt by 41% and 2P reserves to 130 MMboe representing a reserves…
2015 Financial Performance Azfar Aboobakar Head - Financial Control & Reporting www.danagas.com 7
2015 Y-o-Y Financial Performance Percentage (In million) 2015 2014 Change Gross Revenue 417 683 (39) Net Profit 144 125 15 Basic EPS (AED fils) 7.7 6.6 17 Gross revenue declined by 39%, with lower hydrocarbon prices (lower by…
Financial Highlights: Q4 2015 vs Q4 2014 Percentage (In million) Q4 2015 Q4 2014 Change Gross Revenue 93 142 (35) Net Profit / (Loss) 134 (4) x 34.5 Basic EPS / (LPS) (AED fils) 7.2 (0.2) X 37.0 Lower realized hydrocarbon…
Production on a Y-o-Y basis Rounded to nearest hundred Production decline in Egypt followed a steady and predictable downward curve associated with field decline. This was partially reversed when Balsam field production and well…
Trade Receivables (all figures in US mm) Collection: Collection: US 125 mm US 43 mm In Egypt, the Company received cash of 30% 109 million and EGAS/EGPC offset the 800 746 727 signature bonus for Block-1 and Block-3 700 of 13…
Capital Expenditure - (in million) 250 234 CAPEX - 2015 CAPEX - 2014 200 150 150 122 100 84 60 62 50 0 Total Dana Gas Egypt Zora Field Project Capital expenditure incurred in Egypt relates mainly to drilling of 1…
Country Performance Egypt and KRI Iman Hill Technical Director & GM UAE and Egypt www.danagas.com 14
Egypt: A year of reserves growth A significant increase in 2015 GIIP, EUR, Recovery Volumes and Reserves despite oil price collapse Comparison 1P GCA 2014 and GCA 2015 GIIP growth of 256 Bscf or 16%. EUR growth of 214 Bscf or…
Egypt: Nile Delta Operations El Wastani Development Leases: Onshore acreage consisting of 14 Development Leases in the prolific Nile Delta region Production: 4Q 2015 avg 32.2 kboe/d versus 37.6 kboe/d for 4Q 2014. Decline in…
Egypt: Nile Delta Operations El Wastani The tie-ins for Balsam-1 and 2 were completed and the wells were started up on 2nd and 24th December respectively. In addition the decision was taken to the opportunity to lay 70% of the…
Egypt: Balsam Horst Update: Balsam1 & Balsam-2 B-2 B-1 Balsam-2 Pilot hole QP2 Longest gas column encountered in Dana Gas Egypt portfolio. Pulse test between Balsam-1 and Balsam-2 indicated single compartment. Significant…
Egypt: Balsam 3 Discovery Balsam QPII Amplitude Map (Final PSTM 2012) Balsam-3 discovery well has proved up the play in the western part of the development lease This is a separate hydrocarbon filled structure from Balsam…
Egypt: Block 1 - North El Salheya Exploration Block-1 (100% WI) Targets prolific Abu Madi play Other plays include: Kafr El Sheikh and Oligocene Activities Reprocessing of 800 sq km of 3D seismic ongoing by Western Geco.…
Egypt: Block 3 - El Matarya Exploration Block-3 (Dana Gas 50% WI) BP is operating Block-3 as 50/50 partner. The primary target is the deeper HPHT, and high-potential Oligocene play which has been proven in the offshore Nile…
Egypt: Block 6 North El Arish Offshore Update Block-6 (100% WI) 1782 sq km of full fold 3D seismic acquired in October 2015 by PGS Ramform Titan boat. 3D seismic processing completed in January 2016. Initial processing…
Operations in Kurdistan Region of Iraq DG share of production averaged 28,800 boepd during 4Q 2015. Gross production details are as follows: o 313 MMscfd of natural gas o 13,703 bbl/d of condensates o 830 MT/d LPG The Mol…
Zora Gas Project Update Iman Hill Technical Director & GM UAE and Egypt www.danagas.com 24
Zora Offshore Platform Ready for gas production Platform installation, hook up and commissioning completed. Wire line operation for un-plugging the well completed successfully. Repair works completed on the offshore…
Zora Gas Processing Plant Construction completion and handover All systems powered up, commissioning activities and startup ongoing. Commissioning of truck loading facility for condensate export completed.…
Zora Operations startup progress First gas delivered to site 10/01/16. Pipeline and well cleaned up with well flowing approx. 45 mmscfd. Gas production started on 14/01/16. Gas processing shutdown again 15/01/16, due to foaming…
Summary Dr Patrick Allman-Ward Chief Executive Officer www.danagas.com 28
Summary 2015 has been a tough year with a difficult business environment, and the future is continuing to look challenging with oil having already hit a low of 27/bbl this year. However, it has also been a year of significant…
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