Equinor Asa · OSL:EQNR
Equinor Asa — StatoilHydro — Merger or Acquisition (2008)
10 slides from Equinor Asa's merger presentation, 2008
Slide 1: Strengthening positions in Brazil and Gulf of Mexico
Strengthening positions in Brazil and Gulf of Mexico Capital Markets conference call Kjetil Hove, Vice President, INT E&P Eldar Sætre, Executive Vice President & CFO
Slide 2: Forward looking statements
2 Forward looking statements This presentation contains certain forward-looking statements that involve risks and uncertainties. All statements other than statements of historical facts, including, among others, statements such as those regarding plans and intentions to exploration activities; plans
Slide 3: The Transaction
3 Brazil Brazil Rio de Janeiro BM-C-7 BM-C-7 The Transaction • StatoilHydro acquires two world class assets from Anadarko for USD 1.8 billion, plus contingent future payments of a maximum USD 300 mill (pre-tax) conditioned upon high oil prices. • The assets: – 50 % remaining equity in Peregrino incl
Slide 4: Delivering on strategic roadmap - Peregrino
4 Delivering on strategic roadmap - Peregrino • Secure and add production post 2010 • Becoming operator for International legacy assets • Focusing on defined growth strategies - Heavy oil • Establishing leading position in attractive core area • Leveraging technology and build further competence in
Slide 5: The Peregrino Asset
5 Peregrino South Peregrino SW Peregrino Main The Peregrino Asset • Peregrino Sanctioned Project – Reserves (heavy light oil spread to Brent Blend) ~500 mmbbl (25-30%) – CAPEX/bbl ~ 5 $/bbl – OPEX/bbl ~ 4 $/bbl – Production capacity (first oil- 2010) 100 000 bbl/d • Significant upside identified – P
Slide 6: Delivering on strategic roadmap - Kaskida
6 Delivering on strategic roadmap - Kaskida • Securing long term growth post 2015 by adding significant resources • Focusing on defined growth strategies - Deep water • Focus in deep water after divestment of non core US shallow water assets • Strengthening core area and add value to current explora
Slide 7: The Kaskida Asset
7 The Kaskida Asset • Significant discovery with large upside • Lower Tertiary play (St Malo, Jack and Julia) • Early infrastructure in a new under-explored area - Keathley Canyon • Located in area where StatoilHydro is a major leaseholder
Slide 8: Valuation
8 Valuation • Peregrino based on Peregrino Main with conservative view on cost and schedule • Kaskida based on conservative recovery factor (15 %), utilise existing technology basis and latest market cost update
Slide 9: Delivering on strategic roadmap - Value Creation
9 Delivering on strategic roadmap - Value Creation • Value upside for oil prices (Sharing limited part of upside with Anadarko) • Upside identified on Peregrino – Additional resource potential and increased recovery from new technology – Positions StatoilHydro in Brazil for further growth in attract
Slide 10: Strengthening positions in Brazil and Gulf of Mexico
Strengthening positions in Brazil and Gulf of Mexico