Slide 1: Oil & Gas: Fueling India's Growth
Oil & Gas Fueling India’s Growth Steve Moore Deputy Chief Executive Officer, Vedanta Oil and Gas
Slide 2: Presentation Agenda
Presentation Agenda 01 02 03 04 05 06 07 08 Oil & Gas Vision & Development – Financials Path to Net Zero Key Takeaways – Key Drivers – Bob Davenport Hitesh Vaid by 2030 – Steve Moore Steve Moore Viraj Nangia Exploration – Operations - Sustainability & Gary Ingram Vinayak Inclusion – Shivanjali Singh
Slide 3: Growing share in India's strongly growing market
Growing share in India’s strongly growing market Global energy demand by sector Energy demand by Countries Percent of primary energy - Primary energy – Quadrillion Btu - Quadrillion Btu Quadrillion Btu 750 100 750 Other Renewables Residential/Commercial 600 80 Wind/Solar Other Nuclear non-OECD 500 I
Slide 4: Vision: Cairn Oil & Gas | Fuel for Change
Vision: Cairn Oil & Gas | Fuel for Change Contribute over Assets, Acreage & R&R 50% • Cairn has 62 blocks • (5 PSC, 46 OALP, 10 DSF, 1 CBM) • >60,000 sq. km Acreage of India’s Oil Production Key People Enablers Technology Partners Safe & Sustainable Production 4
Slide 5: Management Team
Management Team Steve Moore Gary Ingram Rod Smith Dy. Chief Executive Officer President Exploration General Counsel 37 years global experience in Oil 30 years of global experience in 25 years of global legal & Gas finding Oil & Gas experience in Oil & Gas industry Hitesh Vaid Robert Davenport Peter
Slide 6: Footprint: Blocks across basins with mix of Onshore & Offshore
Footprint: Blocks across basins with mix of Onshore & Offshore 62 Blocks 1 (5 PSC, 46 OALP, 10 DSF, 1 CBM) Acreage of 2 >60,000 sq.km Rich & diverse 3 portfolio to drive value maximization 6
Slide 7: Strong Reserve and Resource Base
Strong Reserve and Resource Base Convert PR > Resources > Reserves (Mmboe) Long Term Mid Term Short Term 5,000 930 New Exploration/ Concept 434 446 Opportunities Appraisal Wells Projects Production 196(3) Risked(1) Potential Technology to unlock 496 (1,250) 250 (2)Unconventional >200 Appraisal (?) T
Slide 8: Resources & Reserves (R&R) Growth
Resources & Reserves (R&R) Growth R&R YoY (mmboe) Gas / Oil Split in R&R (mmboe) +19% Gas % mix increase from 2P Reserves 2C Resources 15% to 19% 1376 Oil Gas 1229 1151 1156 256 194 170 174 1,054 981 1,120 982 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 R&R growth of 19% in FY24 driven by resource addit
Slide 9: Production Potential
Production Potential Kboepd Gross 300 250 Exploration* 200 150 2C Resources 100 2P Reserves 50 0 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 2P Developed Reserves 2C Discovered Resources Exploration Change in Mix of Gas from 20% to 50% Contribution of RSC blocks to increase > 40% *Excluding Sh
Slide 10: Our Assets
Our Assets Offshore: Ravva Platform Rajasthan: Mangala Processing Terminal Rajasthan: Raageshwari Gas Terminal Offshore: Cambay Facilities 10
Slide 11: Newly Added Assets
Newly Added Assets Jaya Gujarat: Exploration, Appraisal & Monetization Hazarigaon, Northeast- First DSF block monetized in India 11
Slide 12: Leveraging Technology to Unlock Potential
Leveraging Technology to Unlock Potential Access to the best-in-class technology & global domain experts Digitalization and technology integration is the key driver for all our projects 12
Slide 13: Enhanced Oil Recovery Projects
Enhanced Oil Recovery Projects Our commitment towards cutting edge technology and innovation EOR Polymer: Improved sweep efficiency EOR Polymer ▪ World’s largest Polymer Mixing Facility of 100 kblpd M>1 ▪ Mangala Recovery 33% → 41% M<1 ▪ Replicated in Bhagyam & Aishwariya Areal Sweep improvement Ver
Slide 14: Oil & Gas: Fueling India's Growth (Exploration)
Oil & Gas Fueling India’s Growth Gary Ingram President - Exploration
Slide 15: Unlocking Value with Exploration
Unlocking Value with Exploration Drill out PR → Resources Resource Potential >5 Bnboe Rajasthan: Northeast: 8 OALP blocks, PSC North (HF-GV) 12 OALP blocks + Unconventional D Rajasthan Northeast A Rajasthan A 1500 mmboe D 500 mmboe North-East GK-GS Cambay B Cambay Ravva PSC C MB Cambay Mahanadi B 40
Slide 16: Oil & Gas: Fueling India's Growth (Development)
Oil & Gas Fueling India’s Growth Robert Davenport Chief Development Officer
Slide 17: Development – From Potential to Production
Development – From Potential to Production Accelerating Resources Conversion (Mmboe) Establish pipeline of new Projects (ASP, Tight Concept Oil) for next phase of growth Concept 434 930 (mmboe) Technology Leveraging novel technologies to unlock Technology to to Unlock reserves unlock 496 Unconventio
Slide 18: Producing Blocks (Onshore & Offshore)
Producing Blocks (Onshore & Offshore) Vinayak Director – RJ North BU
Slide 19: Producing Blocks: Onshore (Rajasthan)
Producing Blocks: Onshore (Rajasthan) >3,100 >3 Bn 1 Acreage STOIIP (boe) ~40 km (sq. km) Bhagyam 2 Core Mangala Fields Aishwarya 1.4 Mn 3 Liquid Processing Capacity (BPD) ~130 km Saraswati Kaameshwari 245 Mn Raag Oil 4 Gas Processing Raag Deep Gas Tukaram Capacity (SCFD) (Core Field) Raag South Gud
Slide 20: Rajasthan: Best in Class Infrastructure
Rajasthan: Best in Class Infrastructure Liquid Handling Capacity 1.4 Mnbbl/day GAS SALES Leveraging world class processing facilities for growth projects 20
Slide 21: Producing Blocks - Offshore
Producing Blocks - Offshore Driving Value through Focused East and West Coast Hub West Coast East Coast Cambay, GKGS, Mumbai Ravva, Gr. Ravva, KG, Exploration and DSF blocks Exploration and DSF blocks 20+ Producing Years 30+ GK-GS 211 STOIIP (MMbbls) 607 Cambay MB Mahanadi 25% Recovery Factor 52% We
Slide 22: Offshore – Ravva Terminal
Offshore — Ravva Terminal Rava Terminal Worn ee Pipelines Oi1& Gas Line Gasline »Wiline
Slide 23: Financials
Financials Hitesh Vaid Chief Financial Officer
Slide 24: Cashflows under PSC and RSC Regime
Cashflows under PSC and RSC Regime PSC Regime RSC Regime Oil Revenue (A) $/bbl 100.0 Oil Revenue (A) $/bbl 100.0 Royalty $/bbl 15.0 Cess $/bbl 16.7 Royalty (B) $/bbl 12.5 Development Costs (E) $/bbl 14.0 Profit Oil (C) = (A) - (B) $/bbl 87.5 Operating Costs $/bbl 14.0 Profit petroleum to GoI (D) $/b
Slide 25: Achieving Net Zero By 2030
Achieving Net Zero By 2030 Viraj Nangia Director – Strategy & Planning
Slide 26: Cairn Decarbonisation Roadmap
Cairn Decarbonisation Roadmap Path to Net Zero (1) Aim for 2030 with an aggressive target for 2028 Starting Point Emissions Reduction / Electrification (2) Renewables 38 Investments kgCO2e/boe (25 MW committed Waste to Power 47 MW underway) + Carbon Capture + ~2X EOR Industry (Concept Studies) Natur
Slide 27: Inclusive & Sustainable Growth
Inclusive & Sustainable Growth Shivanjali Singh Chief Corporate Communications Officer
Slide 28: Inclusive & Sustainable growth
Inclusive & Sustainable growth Enabling inclusive & sustainable growth while contributing towards India’s energy self sufficiency Key Initiatives OUTREACH PROGRAM Promoting Project Bharosa gender equality 1 Lac+ community among members sensitized Cairn Enterprise Centre, Barmer communities 72,823 Li
Slide 29: Key Takeaways
Key Takeaways Near term production growth Expand resource base to >2 Bnboe Achieving Net Zero by 2030 to achieve 150 kboepd with an in next 3 years, with a production EBITDA of ~900 $Mn target of 300 kboepd • Explore & Develop low-carbon • Monetize ~1.4 Bnboe R&R • North-east: ~500 mmboe technologic