Delivery against 2018 targets 80.5 kboepd achieved, up 7% on 2017 and a record year for the Group Production Production averaged 92 kboepd, ahead of forecast, in Nov / Dec Forecast full year opex of 16.9/boe, below 17-18/boe…
Finance highlights and priorities 2018 highlights Priorities Net debt reduced by 390 million 1. Debt reduction Robust operating cash flow Targeting 2.7-2.8x EBITDA by end Reduced operating costs and capex Q1 2019, reducing thereafter…
2018 net debt reduction ahead of forecast Accounting net debt m Factors influencing 2800 2018 debt reduction 2700 Production 2600 Commodity prices Timing of cargo lifts 2400 Timing of disposal receipts 2300 FX / LIBOR 2200…
Asia production New acreage Chim So (op, 53.13%) captured 15.2 kboepd Opex 11/boe Ongoing well interventions Crude sold at premium to Brent 2018 poduction 28 kboepd Natuna Sea Block A (op, 28.67%) Increased market share of…
UK production Catcher (op, 50%) Solan (op, 100%) Huntington (op, 100%) On plateau High uptime Well intervention programme 2020 infill FPSO lease extended to 2020 drilling Maximising uptime Elgin-Franklin (5.2%) Infill drilling /…
Catcher Area, UK (50%, operator) Production FPSO Wells Outlook Record day rates of Oil plant stable Good reservoir Maximise uptime over 70 kboepd Gas and water communication Evaluate options to FPSO at increased injection plants High…
Catcher upside, UK (50%, operator) 1. Reserves upside being assessed Positive production results Well-connected sands Good pressure support Reservoir quality above expectations 2. Infill drilling 4D seismic acquisition Burgman…
Tolmount Main (Operator, 50 per cent) Sanctioned in August Reserves booked at YE18 Key contracts awarded Platform construction started Funding secured Gross Gross Reserves Peak Production Net Capex 500 Bcf 58 kboepd 120 m Net…
Tolmount infrastructure Infrastructure partnership Tariff structure Dana and HGSL will own the platform and export pipeline and pay for the terminal upgrades Tolmount gas will use the facilities in return for a production based…
Tolmount upside 2018 2019 2020 2021 2022 Sanctioned Tolmount Construction of Offshore installation Exploration well on 1st gas from Main pipeline of platform, pipeline Tolmount Far East Tolmount East Key contracts Terminal upgrade…
Sea Lion update LOIs with key contractors FPSO Drilling Rig SURF / SPS Well Subsea Helicopter Services Installation Services 160 Phase 2 Phase 1 Focus remains on securing funding Annual average oil rate (kbopd) 140 ahead…
Mexico: Block 7, Zama appraisal Zama-1 discovery made in 2017 Zama-3 400-800 mmbbls (P90-P10); API 30 Zama appraisal programme underway: Zama-1 Zama-2: tests OWC and Marte prospect Zama-2ST: tests reservoir distribution and will be…
Mexico: Block 30 exploration, Wahoo & Cabrilla Awarded 30% interest in Round 3.1 A B South west of Zama discovery Analogue to Zama Wahoo: Flat spot similar to Zama 1. Identical trapping geometry 3D seismic acquisition planned for…
Brazil: Cear Basin High impact prospects in stacked targets Block 717 (Premier, 50% operator) matured for drilling Berimbau/Maraca (Block 717) Itarema/Tatajuba (Block 661) Drilling operations 2 well campaign planned for 2020 500…
Indonesia: Tuna appraisal and Andaman II exploration Tuna (Premier, 65% operator) Proven oil and gas discoveries (100 mmboe) Evaluation of potential development scenarios ongoing Outline development scheme confirmed to export gas to…
Balanced capital allocation 7 year capital allocation 2018-2024 100% 30% 20% 40% 10% Net operating Debt Producing New Exploration cash flow reduction assets projects At 65/bbl Positive free cash flow in all years to…
Future growth plans 2019 2020 2021 UK Catcher Infill & Satellites Tolmount East Tolmount Main Tolmount Far East Solan Infill Asia BIGP Tuna Andaman Sea RoW Zama Brazil 717 & 661 wells Zama Wahoo, Cabrilla Sea Lion Appraisal…
January 2019 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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