Cairn Energy PLC Value Creation Through Exploration Success and Commercialising Resources Near term production and Significant Funding future growth development flexibility opportunities options UK North Sea Senegal Funded for…
Cairn Energy PLC Value Creation in Senegal Seven wells in three years; two basin opening discoveries and five successful appraisal wells Third phase of Operational success drilling programme provides options for Four wells completed…
Cairn Energy PLC Production Base to Fund Future Exploration Current Production Base Kraken Catcher 15,000 bopd 10,000 bopd Future Projects Kraken / Catcher provide options to Skarfjell Senegal Reinvest in sustainable…
Exploration Creating Growth Through Exploration Emerging and Frontier Basins along the North Atlantic Margin Senegal Barents Sea Morocco UK & Norwegian North Sea NORWAY Illustrative Ireland geological reconstruction of the…
Exploration Strong Platform for Future Growth Active in 6 Countries Combined acreage 56,000 Km2 Barents Sea UK & Norwegian 51 mmboe1 booked as 2P Total of North Sea NORWAY Reserves and 239 mmboe1 booked UK IRELAND as 2C…
Exploration Atlantic Margin Ireland Cairn awarded Licence Option (LO) 16/18 in the Atlantic Ireland Licencing Round in H1 2016 Farm-in to a 70% WI and Operatorship in the adjacent LO 16/19 with Europa Oil & Gas with plans for 3D…
Exploration Senegal Overview Seven wells in three years; two basin opening discoveries Exploration drilling will target further prospectivity in 2017 and five successful appraisal wells Further block wide exploration potential 500…
Exploration Senegal Exploration Potential Within 30km of SNE Large Block area 7,100 km2 Legend 30km Area Current Licences Carbonate Platform Edge Significant untested prospectivity Oil Discovery Gas Cap Turonian-Late Albian…
Exploration and Appraisal Senegal Vega Regulus VR-1 Initial Results 2017 Prospect Focus VR-1 Appraisal Target Vega Regulus Results very encouraging- significant step out, 5 km west from nearest well Prospect Rufisque Offshore…
Exploration Senegal, Prospects Within 30 km of SNE 2017 Prospect Focus Block Wide Prospectivity SNE NORTH (Sirius) SNE NORTH Rufisque Prospect Offshore DAKAR 900m water depth Sangomar Deep Offshore Sangomar Offshore FAN-1…
Exploration Senegal, Prospects Within 30 km of SNE 2017 Prospect Focus Block Wide Prospectivity FAN SOUTH Rufisque Offshore DAKAR 2,175m water depth Sangomar Deep Offshore Sangomar Offshore FAN-1 Currently 20km South West…
Exploration Senegal SNE-5 Initial Results SNE-5 and SNE-6 in combination are designed to characterise the nature of the upper reservoirs Reservoir units, pressures and fluid Drill Stem Testing (DST) 1A 18m perforated boundaries match…
Exploration Senegal Interference Test 0 2 Km 4 SNE-5 and SNE-6 SNE-5 drilled, tested and gauges installed Results in line with expectations SNE-6 location being finalised utilising SNE-5 results SNE-6 will be drilled and…
Developments Senegal Planning for Development Drilling Performance SNE-5 vs SNE-1 and SNE-4 900 Significant performance improvement demonstrated 1,100 Drill 26 SNE-1 Hole Section on SNE-5 well during drilling and testing phases…
Developments Senegal Planning for Development Timeframe Results of remaining exploration and appraisal will determine overall development plan including capital phasing and level of resources to be translated to reserves on Production…
UK & Norway Exploration and Production Extensive Portfolio 43 licences, 5 operated UK Norwegian Sea 7 exploration licences, 1 operated (APA2015) 12 Licences Kraken: Barents Sea 5 exploration licences, Development stage,…
UK & Norway UK Projects in Context Development projects ranked by size, including current status Medium sized fields Small sized fields 300 Remaining reserves (mmboe) 250 200 150 West of Shetland Gas Condensate…
UK & Norway Future Production Base - Kraken Target first oil Q2 20171 (Operator EnQuest) Skarfjell Plateau production 50,000 bopd Kraken (Net to Cairn 15,000 bopd) Stavanger Drilling and completion activity going well;…
UK & Norway Future Production Base - Catcher Target first oil Q4 20171 (Operator Premier) Skarfjell Plateau production 50,000 bopd (Net to Cairn 10,000 bopd) Kraken Stavanger 4 Catcher, 2 Burgman and 2 Varadero wells Catcher…
UK & Norway Potential Future Production Skarfjell Skarfjell Production potential 50,000 bopd (Net to Cairn 10,000 bopd) Kraken Stavanger Light oil development in 380m water depth Catcher Edinburgh Expected recovery1 60-140…
Finance Financial Headroom to Deliver Balanced Business Strong execution throughout 2016, significant cost savings delivered Enhanced sources of financing Supporting exploration programme in Senegal and additional new venture…
Finance 2016 Cashflow Pre-award costs and E&A capex USm 603 105 44 18 125 12 36 335 Opening Senegal UK / Norway International / Kraken Admin, Norway Closing Cash Other Development Financial, Tax Refund Cash FX, Other…
Finance Capex to End 2017 Up to two additional Includes Druid / Drombeg, exploration wells, 450 USm seismic acquisition in Ireland 50m net to Cairn and Boujdour Maritime 400 25 350 50 75m further 300 cost savings since 95 mid year…
Finance Sources of Funding Cash at 31 December 2016 335m Peak availability 350m to 400m Reserve Based Lending Availability by end 2017 210m Facility 175m Letter of Credit / Guarantee tranche 2016 Norway tax 26m receivable in 2017…
Strategic Delivery Near term production and future development options Realise Value Realise Value Return Value to Shareholders Significant growth opportunities Create Value Create Value Create Value…
Appendix
Notional Development Scenario Development expenditure 1,800 120 Dependent on concept solution and scale of resources 1,600 100 Preliminary analysis based on 1,400 12-15/bbl1 (previous 17-26/bbl) Annual Spend, USD mln (2016…
Economic Scenarios: 2C Standalone SNE Field 50% 20 May 2015 10% return breakeven at FID, Guidance oil…
Activity Programme Exploration 2017 2018 Senegal Options for Appraisal / Exploration Appraisal / Exploration UK / Norway Exploration Exploration 3D 3D International Seismic Seismic Exploration Development and Production…
Contacts David Nisbet Paula Pratt Group Corporate Affairs Investor Relations Co-ordinator E-mail: E-mail: david.nisbetcairnenergy.com paula.prattcairnenergy.com Tel: +44 (0)7711 146 068 Tel: +44 (0)131 475 3094…
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