2016 ytd highlights 90% 1 84% High production efficiency 2014 2016 ytd 80 kboepd 2 58 kboepd 69 kboepd Solan Step change in production E.ON 2015A 2016 ytd 2016 YE run rate 17 kboepd 3 15 kboepd Continued portfolio…
Asia providing cash flow for the business Indonesia 90% production efficiency Strong demand (45% of GSA 1, record GSA 2 delivery) 9/boe opex Increase demand post 2020 Quick payback, high return projects Bison, Iguana, Gajah…
UK North Sea growth story UK overview Solan (100% op) Huntington (100% op) 79% production efficiency Production currently restricted at 95% production efficiency UK drives production growth: 10-13 kbopd Production exceeding budget…
Catcher ahead of plan Drilling Subsea Burgman BP3 producer well Tay reservoir 8 wells drilled with excellent operational Templates, flowline bundles, midwater performance arches and gas export pipeline installed Pre-drill…
Module lifts onto Catcher FPSO completed Outfitting of FPSO progressing well 13/13 modules lifted onto FPSO 2,000 people working on the vessel December 2016 P7 On track for summer 2017 FPSO sailaway
Catcher schedule Plateau rates of 50 kboepd (gross) Capex - 20% reduction in costs secured * 350 Sanctioned budget 1.7bn total project cost 300 Actual/current forecast 250 mm Potential savings from reduced well count, 200 150…
Tolmount illustrative development solution Timetable to sanction Indicative metrics (gross) Concept select by year-end 450 Bcf…
Southern Gas Basin: portfolio of opportunities Tolmount (50% op) Discovered Oct 2011 Ravenspurn Deep (5% carried interest) 2 appraisal wells in 2013 BP/Perenco long-reach well planned 450 bcf of resource for late 2016 Largest UK gas…
Sea Lion Phase 1 reducing breakeven price Licence extended to 2020 FEED progressing well Facilities capex and opex cost estimate reductions from FEED contractors collaboration Logistics and drilling cost estimate reductions…
Mexico potential for material value creation Sureste Basin is a prolific hydrocarbon province Zama (62 bn bbls of proven oil) Prospect Awarded 2 high quality blocks in 2015 licensing round Current carried 10% interests; option to…
Net debt & refinancing update Revised Refinancing term sheet provided by private lenders on 11 November Preservation of the full amount of existing facilities including undrawn amounts Alignment of all maturities to 2021 or later…
Outlook +c.10 kboepd per annum 1 Continuing production growth 2016 2017 2018 2.25bn 2 1.7bn Catcher delivery Sanctioned budget Forecast 50% IRR 3 Select highest return projects 30% 20% for sanction Infills Tolmount Sea…
December 2016 www.premier-oil.com Premier Oil Plc 23 Lower Belgrave Street London SW1W 0NR Tel: +44 (0)20 7730 1111 Fax: +44 (0)20 7730 4696 Email: premierpremier-oil.com
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