Leviathan Project Sanction Highlights Exceptional quality project with decades of potential First Gas Targeted for the End of 2019 Initial capacity of 1.2 Bcf/d, future phase expansion to 2.1 Bcf/d Cyprus 35% WI Initial 2017…
Superior Reservoir Quality and World Class Scale Geologic similarities to Tamar, and 2x size at 22 Tcf gross recoverable resource Discovered in 2010 Leviathan Reservoir Scale Largest Discovery in Region at 34 Tcf Gas in Place Giant…
Leviathan Field Development Plan Cost-effective expansion capability Initial Phase Second Phase 3.75 Billion Gross Additional Deck Capacity 3rd Flowline Export Pipeline Capacity 0.9 Bcf/d additional capacity 1.2 Bcf/d 4…
Pathway to First Gas Confidence in timing and cost estimates FEED Finalized Firm Bids Received on Majority of Project Costs Selected Suppliers Experienced from Tamar Project Key Contractors Onboard to Provide Design Input Platform…
Diverse and Robust Marketing Position Target sales volumes of 1 Bcf/d at startup Over 1 Bcf/d Combined of GSPAs and LOIs Bcf/d Sizable Regional Gas Deficit 10 Up to 525 MMcf/d and over 15 B in Current Executed GSPAs 8 High-Quality…
Leviathan Phase One Economics Steady cash flow stream, payout within 3-4 years Life of Project Cash Flows* Phase One Low-cost Development Capital 3.75 B gross, 1.5 B net LOE less than 0.40/Mcf Partnership Government of 40% 12.5%…
Non-GAAP Reconciliations Pre-tax operating cash flow (Non-GAAP) and free cash flow (Non-GAAP) should not be considered an alternative to, or more meaningful than, operating cash flow (GAAP). Our management believes and certain…