Preliminary Results Presentation Responsible. Ready. Refocused. 9th March 2021
Introduction Simon Thomson
Strategy A Refocused Portfolio Agreement to Proposed acquisition of Shell Western Desert divest interests in In Line with UK North Sea Kraken Stated Strategy Assets in Egypt and Catcher Fields High quality assets with…
Strategy Strategic Delivery: Creating Renewed Platform for Differentiated Growth Capital Executing Allocation & Financial Operational India Strategy Active Portfolio Flexibility Delivery Responsibly Management Proposed US250m…
Finance James Smith
Finance Financial Performance 2020 production: 21,000 bopd*, in line with guidance Production 2021 UK guidance: 16,000 bopd to 19,000 bopd 2020 revenues from production: US324m Revenue 2020 realised oil price: US42.56/bbl plus…
Finance 2020 Cashflows Total Capital Expenditure US151m* Special Dividend US250m Q1 2021 Proforma Year End Cash US320m Opening Catcher Norway Senegal Senegal and Catcher Exploration Pre-award Admin Net Closing Cash and…
Finance Indian Arbitration Award Basis of the Award Unanimous award in favour of Cairn under UK-India Bilateral Investment Treaty; Unequivocally established jurisdiction over the dispute and found that Indias actions had breached…
Finance Strategic Priorities and Capital Allocation All investment decisions assessed against multiple externally assured energy transition scenarios Portfolio Sustainable Selected Balance Sheet Shareholder Management Cashflow…
Finance Divesting UK North Sea Production Interests Transaction Overview Sale of Cairns 20% interest in Catcher and 29.5% interest in Kraken to Waldorf Production Firm consideration of US460m (as at effective date 1 January 2020)1…
Finance Egypt: Strong Production Base with Growth Potential Transaction Overview Asset Structure and Operatorship Joint (50:50) acquisition of Shells Western Desert assets by Cairn and Cheiron US323m base consideration1 Cooperation…
Finance Egypt: Strong Production Base with Growth Potential Production growth and opex reduction 65% gas: average 2.60/mcf boepd boepd USm 35% liquids: average 2 discount to Brent 60 60,000 100 Cairn WI Production Reserves 50…
Production and Development Paul Mayland
Production and Development - Egypt Low Cost Sustainable Production Base with Growth Potential Onshore Low Cost Asset Adds Material 2P and 2C Resource Base 2P Reserves: 113 mmboe (net to Cairn) Good historical HSSE performance…
Production and Development - Egypt Partnering Experienced Egyptian Operator Production (2020 actuals) Badr Petroleum Company (Bapetco) Operator licences owned 50/50 by EGPC and Cairn / Cheiron Obaiyed BED 28,800 boepd (key…
Production and Development - Egypt Robust Mature Producing Assets 2020 production averaged 107,000 boepd gross (83,000 boepd Shell interest) 2020 Capital investment programme curtailed to US100m versus typical US150-200m (Shell…
Production and Development - Egypt Onshore Platform to Build Growth Production Facilities Well Operations Two large oil and gas facilities; life extension Well established service company including rigs work and process enhancements…
Production and Development - Egypt Multiple and Scalable Investment Opportunities Leverage high quality gas and oil processing Baseline and verify GHG emissions and develop infrastructure; abatement plans. Initial focus likely to be…
Exploration Eric Hathon
Exploration Exploration Portfolio UK Production Exploration Advantaged Barrels ISRAEL Exploration Exploration Clear path to commerciality Development optimisation Attractive, stable fiscal regimes Assess carbon footprint of…
Exploration Egypt Exploration Potential More than 400* identified exploration Cheiron Operated opportunities with historical success rate Mediterranean Sea 50% NUMB NUMB NM Gross unrisked resources: 1,900 mmboe* Oil 1,250…
Exploration Egypt Western Desert Prospectivity Advantaged barrels, play diversity and opportunities to apply new technology Proven Source Rocks 500 Typical Well Path Abu Roash F oil prone source rock Top Dabaa Khatatba oil and gas…
Exploration Egypt Cairn Operated Exploration Cairn Non-Op Gross unrisked resources: 800 mmboe* Cairn Operated Three exploration concessions covering South 9,000 sq km East Horus (SEH) Egypt Significant cluster development…
Exploration UK North Sea Jurassic Fulmar Play Nelson Infrastructure-led Exploration (Cairn 50%, Shell 50%) Platform P2380 P2379 and P2380 Jaws Shell-operated Jaws-1 well to spud Q2 2021 A P2379 Jurassic Fulmar sandstone play 32…
Conclusion Summary Refocussing our platform for differentiated growth over the next decade Responsible Active portfolio management and capital allocation Ready Focused on generating further shareholder returns Ready to deploy…
Head Office London 50 Lothian Road 4th Floor Edinburgh Wellington House EH3 9BY 125 Strand T: +44 131 475 3000 London F: +44 131 475 3030 WC2R 0AP E: prcairnenergy.com www.cairnenergy.com Mexico Capricorn Americas Mxico Torre Mayor…
Appendix
Executing Strategy Responsibly Climate Change and Energy Transition Our Responsible Approach Our Net Zero Roadmap Committed to Net Zero by 2050 Participate and contribute to host Government NDCs in line Examined actions to date to…
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