Peters & Co. Limited Energy Conference Rich Kruger January 22, 2014
Cautionary statement This presentation contains forward-looking information on future production, project start-ups and future capital spending. Actual results could differ materially due to changes in project schedules, operating…
Imperial Oils business model Deliver superior, long-term shareholder value 1. Long-life, advantaged assets 2. Value chain integration and synergies 3. Disciplined investment, cost management 4. High-impact technologies and…
Industry leading performance Unmatched return on capital employed, shareholder distributions ROCE 5-year average 2008-2012 Shareholder distributions 2003-2012 % billions 30 15 Share reductions Dividends 20 10 10 5 0…
Strong Downstream and Chemicals businesses Supporting upstream growth, 5 billion of net cash generated since 2009 Net income Net cash billions billions 2 2 Chemical Downstream 1 1 0 0 2009 2010 2011 2012 2009 2010…
Cold Lake: a world class in-situ operation Over 1.2 billion barrels produced, continued growth opportunities P o Increasing resource recovery via technology, innovation P o Consistently delivering nameplate capacity P o…
Expansion via design one, build multiple Nabiye replicates Mahkeses, adds 40 kbd in 2015 Cold Lake production* kbd 200 Nabiye Mahkeses 150 Mahihkan Maskwa 100 Pilots 50 0 1980 1990 2000 2010 2012 2015 * before…
Kearl: a large scale, advantaged mining project Adding value and establishing new performance standards P o High-quality resource P o Proprietary froth treatment P o Environmental improvements P o Competitive cost…
Initial development update Production stabilization ongoing, all three trains operational Kearl bitumen production* kbd, gross 70 60 Achieved daily rates 100 kbd by YE13 50 40 First sales occurred in 3Q Focused on IOL/EM…
Kearl expansion on schedule for 2015 start-up Benefiting from extensive initial development lessons learned 11 million hours without a lost time incident Design replicates Initial Development Same contractors on both…
40+ year asset life Gross production plateau of 345 kbd, Imperial Oil share 71% Kearl development plan kbd, gross 400 Plant Debottleneck 45 kbd 300 Third Ore Preparation Plant 80 kbd 200 Expansion Project 110 kbd…
Market access update Requirements sufficiently covered, significant value optimization Commitments to new pipeline capacity kbd Currently transporting 400 kbd from 400 Alberta by pipeline Secured 390 kbd of potential…
In-situ growth opportunities Development planning ongoing, significant high quality opportunities Resource potential 295,000 net acres 3+ billion barrels Top-tier quality Enabling technology SAGD/SA-SAGD Potential scope 9+…
Aspen in-situ oil sands project Resource potential of 1.1 billion barrels, regulatory filing December 2013 Located 45 km NE of Fort McMurray Three 45 kbd phases, design one, build multiple approach SAGD/SA-SAGD technology…
Unconventional gas opportunities Large acreage position, development optionality Resource potential 495,000 net acres 15+ trillion cubic feet Liquids-rich Montney Enabling technology Horizontal drilling Hydraulic…
Potential for long-term growth Potential of 1+ million barrels per day by about 2030+ Production outlook* kboed 1000 New opportunities 800 Oil sands - mining Oil sands - in-situ Conventional 600 400 200 0 2010 2020…
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