Progress against 2017 targets Meet FY production YTD production 80 kboepd; all BUs tracking ahead of 2017 budget guidance of 75 kboepd Scope to increase production guidance once summer maintenance completed Opex 11% below 1H 2016 at…
Production overview Largest 5 fields account for c. 70% of production July 2017 P4
Portfolio potential Catcher Tolmount Sea Lion 800 mmboe of discovered Cash flows prioritised towards debt reduction and selective investment but undeveloped reserves and resources Tuna Zama July 2017 P5
Looking forward Optimise quality producing assets in UK, Vietnam, Indonesia Strategy Falklands, Mexico, Brazil offer transforming upside Continuing programme of disposals 19.7 Opex /boe 18.5 De-leveraging from free cash flow…
Producing portfolio
Chim So, Vietnam (53.125%, operator) 2017 1H highlights 15.5 kboepd, above budget High operating efficiency Strong reservoir performance 9/boe operating cost Outlook 2 infill wells planned for August 2017 Field life extended to…
Natuna Sea Block A, Indonesia (28.67%, operator) 2017 1H highlights BIGP 13.0 kboepd, above budget Singapore demand above take or pay 49% of GSA vs 47% contractual share High operating efficiency Opex of c.6/boe 93 Bcf Outlook…
Huntington, Central North Sea (100%, operator) 2017 1H highlights 15.6 kboepd, 35% above budget High operating efficiency Strong reservoir performance Outlook FPSO lease extension discussions underway Currently producing 15…
Solan, West of Shetlands (100%, operator) 2017 1H highlights 7.3 kboepd Operational concept working well Central reservoir on prognosis; Eastern area of field under-performing Outlook P1 outperforming on free flow P1 workover…
Elgin-Franklin, Central North Sea (5.2%) 2017 1H highlights 6.5 kboepd, above budget Low opex of c.8/boe Outlook Long field life; production forecast to continue until 2037 350 mmboe remaining reserves Ongoing infill drilling,…
Portfolio potential
Portfolio potential July 2017 P14
Catcher under budget, start up 2017 2H 11 wells completed to date with excellent operational performance Improved production profiles anticipated and review of FPSO capacity underway FPSO mechanically complete and final…
Catcher outlook Yard-based pre-commissioning FPSO sailaway and FPSO hook up & Improved production profile and commissioning of FPSO transit to North Sea final commissioning anticipated Today 2017 First oil 2018 Drilling at…
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; engineering commenced Potential…
Tolmount future phases planned Tolmount East Subsea tie-back or small platform Tolmount Tolmount Far East area Mongour Tolmount Subsea tie-back or small platform 1 Tcf Far East to Tolmount or Tolmount East Mongour Tolmount East…
Southern Gas Basin: portfolio of opportunities Tolmount Main (50% op) Tolmount Area (50% op) Ravenspurn North Deep On path to sanction Future phases in planning (5% carried interest) Play-opening carboniferous well currently…
Sea Lion, Falkland Islands (60%, operator) Highlights FEED substantially completed Breakeven reduced to 45/bbl Capex to first oil reduced to 1.5bn Field opex reduced to 15/bbl Indicative FPSO cost of 10/bbl (LOF) Outlook Positive…
Mexico - Zama-1 oil discovery 80-90 days (mid Aug) to drill W E Zama-1 Well and evaluate the well to TD of 4400 mTVD (no well test planned). 1 km Well was side-tracked to Forecast cost 61.5m gross, west and contingency 16 liner…
Global significance of the Zama Discovery Sits in top 10 largest offshore commercial oil discoveries of the last 5 years Offshore Oil Discoveries 300 mmboe since 2012 (Data courtesy of WoodMac) 2000 1500 1000 900 800 Reserves…
Zama Illustrative Development Scenario Illustrative development schematic Development conceptual engineering will commence shortly Given the scale of the Zama discovery an illustrative fixed installation development could be much as…
Tuna, Indonesia (65%, operator) Discovered in 2014 by the Singa Laut-1 and Kuda Laut-1 wells 90 mmboe Evaluation of potential development scenarios ongoing Gas offtake via WNTS to Singapore & Indonesia Gas offtake through…
Ceara Basin, Brazil exploration Largest acreage holder in the Ceara basin 4,000 km2 of fast-track seismic data across all 3 blocks received in 2016 Final depth migrated broadband seismic data received in April 2017 Well locations to…
Refinancing terms Summary of amended terms Facilities confirmed 1 Total facilities confirmed 4.0 bn Cash & Maturity dates extended to 2021/2 3.4 bn Undrawn Covenant profile re-set with headroom Enhanced economics (1.5%) to lenders…
July 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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