Agenda Overview Tony Durrant Exploration Mexico Dean Griffin Outlook Tony Durrant May 2017 P2
Production overview Largest 5 fields account for c. 70% of production May 2017 P3
Catcher under budget, start up 2017 2H 2016 subsea installation programme successfully completed 10 wells completed to date with excellent operational performance Commissioning of FPSO underway On schedule for 2017 first oil Capex…
Tolmount next phase of growth Most significant discovery in SNS since 1997 Concept selected Q1 Standalone, normally unmanned 4 platform wells 48km x 20 gas export to onshore FEED contracts awarded Potential 3rd party infrastructure…
Portfolio potential Catcher Tolmount Sea Lion 700 mmboe of discovered but Cash flows prioritised towards net debt reduction and selective investment undeveloped reserves & resources Tuna Exploration May 2017 P6
Premiers exploration footprint Two core focus areas: Mexico (Sureste) Brazil (Ceara) Exited/exiting positions YE2016 in Iraq, Kenya, Norway, 2016 Production Reserves & Resources Pakistan, SADR, UKCS UK 11% Asia (ex-E.ON) &…
Why Mexico gas Perdido oil Deep water, emerging Oil + assoc. gas Area proportional to Burgos Main play: Neogene and discovered resource Onshore, mature Paleogene clastics Gas, minor oil Burgos Salt plays Main play: Paleogene…
Energy sector reform Opening of a high potential energy sector to foreign investors after 78 years of state monopoly Established a clean and transparent process with an independent regulatory body CNH Extensive modern datasets…
Well and seismic data available at low cost Over 100,000 km2 of 3D data available majority is modern 3D datasets and wells can be purchased as part of the bid round packages Facilitates ability to compete technically and at low…
Sureste basin licence position Successful entry (10% carried) into Blocks 2 & 7 in Q3 2015 Increased equity to 25% (paying) in Block 7, ahead of Zama well 13 11 12 14 10 7 9 Block 7 8 Offered in Round 1.4 6 7 8 6 Block…
Block 7 Zama prospect (Premier 25%) W Zama-1 Well E Talos operate Expected spud date by end of May using the full stack reprocessed Ensco 8503 rig seismic data in depth Low risk, 100-500 mmbbl prospect in 165m of water Flat Spot…
2017 targets Maintain operating efficiency levels; Production Meet guidance of 75 kboepd (excluding Catcher) Cost Base Targeting further reductions in opex and G&A costs Non-core disposals Realise 100m from non-core disposals…
Questions
May 2017 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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