Presentation at CLSA Hong Kong Investors Forum September 2016 Oil Search Limited ASX: OSH POMSoX: OSH US ADR: OISHY ARBN 055 079 868 www.oilsearch.com
Oil Search overview Established in Papua New Guinea (PNG) Pnyang Juha Juha North PNG LNG Project Hides in 1929 PPL260 Gas Fields Angore 29% interest in world-class PNG LNG Moran PNG LNG Project Facilities Project, operated by…
Well positioned for future growth Strong production base from high quality, low cost assets OSH Net Production (mmboe)1,2 with low sustaining capital requirements: 60 PNG LNG (T1 + T2) 2016 production guidance: 28 30 mmboe Hides GTE…
Core strategies have delivered long term share price stability in volatile market 12.00 OSH ASX 200 ENERGY BRENT CRUDE 12 Sep 2016: A6.58/Sh Rebased to OSH Share Price (A/sh) 10.00 8,067 US47.0/bbl 8.00 6.00 1 Jan…
Robust balance sheet to fund development activities in capital efficient manner Liquidity (USm) 1H16 production costs of US8.21/boe: 2,000 PNG LNG US6.34/boe (US6.73/boe in 1H15) 750 Operated oil and gas: US14.25/boe (US15.96/boe in…
PNG LNG Project continues to produce above nameplate Annualised production in 1H16 of 7.7 MTPA, compared to nameplate capacity of 6.9 MTPA: Results achieved despite scheduled rate reduction for maintenance in April and unplanned…
Bid for InterOil (IOC) and MoU with Total In May, OSH announced agreed bid for IOC and MOU with TOT In July, IOC board changed recommendation to pursue transaction with ExxonMobil OSH decided it was not in best interests of…
Delivering OSHs gas strategy: two new LNG trains in PNG with further expansion upside Pnyang Monetising discovered resources: Juha OSH Operated NW HUB Hides OSH Interest Antelope certification plus Pnyang resource has confirmed…
Resource certainty: 10 tcf in Pnyang and Elk- Antelope underpins at least two trains Foundation PNG LNG fields recertification: 2016 Antelope Certification Results Summary Potential to sustain PNG LNG increased capacity 10 tcf of 2C…
Potential capex savings of US2-3 bn and opex savings of US125m pa (OSH estimate) through infrastructure sharing Sharing of utilities, Reduction of overall tank Construction of spur instead of new Potential additional power generation,…
Commercial models to deliver project integration OSH expects project integration could involve: Two new 4 MTPA trains constructed together at existing PNG LNG site, operated by ExxonMobil, operational 2022/23 Trains underpinned by 10…
Indicative timetable for integrated development 2016 2017 2018 2019 2020 2021 2022 2023 Integrated development Drilling of Ant-7 and Pnyang (and Muruk) Photo possibly Reserve and Resource Definition Integration Agreements FEED…
Material LNG demand growth in quality Asian markets Asian LNG demand Global LNG demand growth forecast to continue to grow: 350 ExxonMobil believes LNG market will double by 2040 300 Regional market in Asia anticipated to grow by 100…
Exploration/appraisal strategy to target major gas opportunities PRL 3 (2/4Q17) 2015/16 study identified high yet- Pnyang (appraisal & near PPL (Operated) PPL (Non Op.) to-find potential: field exploration) PRL Yet-to-find…
Systematically enhancing portfolio in PNG to support gas growth OSHs exploration portfolio study has led to: 15 new licence applications Identification of new focus area Four potential farm-ins OSH farming out areas with high risk…
Strategy refresh OSH undertook major review of corporate strategy in 2014 which identified that top quartile returns for shareholders could be delivered by competitive LNG expansion in PNG Undertaking focused refresh of strategy:…
Committed to helping preserve stable PNG operating environment Long-standing commitment to social responsibility and sustainable development: Fundamental to maintaining stable operating environment Helps forge strong relationships…
Summary Downstream integration of Papua LNG and PNG LNG projects de-risked by ExxonMobils bid for InterOil: Total and ExxonMobil have expressed willingness to work together to develop optimal outcomes for LNG development Benefits of…
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