Credit Suisse Australian Energy Conference June 2017 Oil Search Limited ASX: OSH POMSoX: OSH US ADR: OISHY ARBN 055 079 868 www.oilsearch.com
Oil Search licence interests, PNG Juha Muruk PPL260 PNG LNG Project Gas Fields Papua New Guinea Pnyang Hides Hides Hides Gas Angore PNG LNG Project Kutubu Conditioning Moran Facilities Plant Port Gobe Main Non PNG LNG…
Top tier production base with highly commercial growth projects 1Q17 PNG LNG production of 8.3 MTPA, 20% above nameplate: Supported by material increase in OSHs PNG LNG Project reserves (1P up 50%, 2P up 12%) following independent…
Continued Asian LNG demand growth in medium long term Move to reduced Europe emissions 94 environment 83 53 driving greater Asia use of gas as 2017 2020 2030 alternate fuel 330 233 source 199 Americas Asia remains 16 19 21…
PNG well placed to capture market opportunities Long-term LNG market fundamentals are strong: LNG from PNG well positioned to capture market opportunities: Number of LNG importing countries / LNG buyers Continued exceptional…
10+ tcf undeveloped gas resources at Elk-Antelope and Pnyang sufficient to underpin two PNG LNG-sized trains Following 2016 appraisal programme, gross 2C contingent resource at Elk-Antelope increased to 6.5 tcf (up from 5.3 tcf…
Major cost savings from cooperative LNG expansion Discussions on LNG expansion underway between ExxonMobil, Total and Oil Search 18 Oil Search, partners and Government have 16 confirmed intent to pursue coordinated 14…
Opportunities for sharing at PNG LNG plant site Sharing of utilities, power Reduction of overall Construction of spur instead of generation, metering, tank storage new jetty & sharing of shipping controls requirements channel…
Gas commercialisation activities in 2017 2017 work streams to progress timely co-operative development Elk-Antelope Pnyang Completion of Antelope 7ST1 Pnyang South 2 pad construction (done) commenced April 2017 ExxonMobil entry into…
Significant remaining exploration upside in PNG PNG-wide prospectivity Pnyang Muruk review completed in 2016: Estimated 7bn boe is yet to be found, with 90% gas NW Highlands Materially expanding PNG Elk-Antelope acreage: Three…
Material gas potential at Muruk and along Hides-Pnyang trend Gas discovered at OSH-operated Muruk well in Dec 16 Blucher NaDia Karoma Muruk 1ST3 successfully drilled through Toro in May17: Entire Toro gas saturated, reservoir similar…
Farm-in to onshore Papuan Gulf Basin OSH acquired 30% interest in PPLs 474, 475, 476, OSH Operated OSH Non Operated 477 and PRL 39 from ExxonMobil in May*: Licences being acquired PPL 477 ExxonMobil acquired these licenses on…
Small scale LNG (ssLNG) Opportunity exists to commercialise smaller undeveloped gas resources from Gulf, Western and Highlands Provinces through smaller scale LNG development (0.5 1.5 MTPA) Likely to require combination of in-country…
2017 production forecast remains at 28.5 30.5 mmboe OSH Net Production (mmboe)1,2 2017 production forecast similar to 2016: 35 PNG LNG (T1 + T2) Hides GTE Further improvements from PNG LNG to 30.24 28.5 - 30.5 30 SE Mananda 29.25…
Robust financial metrics 2016 operating cash flow of US550m or 2016 Cash flows US18.15/boe 1500 Solid balance sheet. Cash of US 1 billion, 1000 available credit facilities of US750 million, Non Non liquidity of US1.77bn at end 1Q17…
Social Responsibility Operating and political stability essential for long-term sustainability Comprehensive strategy to manage current and emerging ESG risks OSH recognised globally for its in-country sustainable development outcomes…
Summary unprecedented platform for growth 2016 Strategy Refresh highlighted potential to deliver top quartile returns for next 5-7 years Delivery of LNG expansion, underpinned by development of Elk-Antelope and Pnyang gas fields, key…
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