About Oil Search PNG incorporated in 1929 1,250 employees Quality shareholding: PAPUA NEW GUINEA UAE sovereign wealth fund Mubadala and PNG Government largest shareholders World class assets: 29% interest in PNG LNG Project…
OSH will double production early next decade Progressing multiple growth initiatives in PNG 1 PNG LNG optimisation targeting 8.5Mtpa longer term 2 LNG expansion targeting 8MTPA+ new capacity and integration savings 3 Oil production…
PNG Growth Initiative 1 PNG LNG Optimising expansion PNG LNG one of the best delivered and highest value LNG projects globally: Lowest quartile cost High heating value product sought after by quality markets Production…
LNG expansion the focus for 2017+ PNG LNG growth and new LNG development Sources of gas for expansion By mid next decade PNG On Trend Prospects expected to be producing Muruk 16+MTPA PNG brownfields LNG Hides expansion globally…
PNG Growth Initiative 2 New LNG development and cooperation 18 Indicative PNG LNG base production profile Global LNG Supply-Demand Balance 16 600 Source: FACTS Global Energy Sep 2016 14 500 LNG Export (MTPA) 12 Elk-Antelope +…
Lessons learned drive toward coordination PNG LNG, Pnyang and Elk-Antelope LNG cooperation (additional 8+ MTPA capacity) Construction of spur instead Sharing of utilities, Reduction of overall of new jetty & sharing of power…
PNG Growth Initiative 3 OSH operated production increases through near field exploration One of OSHs core capabilities is extracting full value from its assets Targets being matured for near field drilling to mitigate long-term…
PNG Growth Initiative 4 Exciting and material remaining exploration upside 60% (7bn boe) of PNGs total resource Historic Reserves Additions remains to be discovered 5 Hides is largest fields Recoverable Volume (bn boe) Cumulative…
PNGs Best Geoscience Database Data underpins all geoscience work we do Technical Library Well Database GIS & Prospect Inventory - 70,000 records; earliest 1913 - 674 well locations & well headers - ArcGIS single database Samples…
World class exploration acreage position in PNG portfolio focused on gas expansion and delineating remaining oil Focused licence acquisition Pnyang Muruk programme: 16+ licences and manageable programme NW Highlands Trend capture…
Muruk gas discovery Material gas potential at along Hides-Pnyang trend Muruk gas discovery located 21km from nearest Koki Blucher NaDia Karoma producing PNG LNG infrastructure: 8,000m drilled in vertical hole + 3 side-tracks Muruk…
Initiative 5 Social Responsibility initiatives in action Oil Search Foundation Community health and hospitals Access to power Leadership and education Womens protection and Livelihood and local Supporting community Nationally…
Conclusions Top tier production base with significant growth projects Excellent performance from PNG LNG: Reached record annualised rate of 8.65 MTPA in June following compressor upgrade (25% above nameplate) Material 1P and 2P…
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