Energean Plc · LSE:ENOG
Energean — 16th Israel Energy and Business Convention (November 2018)
13 slides from Energean's conference presentation, Nov 19, 2018
Slide 1: Karish and Tanin Development: On Track to Deliver Gas
Karish and Tanin Development On Track to Deliver Gas – 1Q 2021 16th Israel Energy and Business Convention November 19th 2018 Mathios Rigas, CEO
Slide 2: Energean at a Glance: a strong, effective operator
Energean at a Glance: a strong, effective operator Operational Strength 4 c. 350 385 Countries, an mmboe 2P Highly skilled approved operator employees Effective $1.8bn $1.4bn $12bn execution ongoing investment in EPCIC contract with revenue secured Israel & Greece TechnipFMC through 12 GSPAs Proven
Slide 3: Strong Market Positioning in London & Tel Aviv
Strong Market Positioning in London & Tel Aviv STRONG S/P PERFORMANCE 35% ENOG • Biggest Oil & Gas IPO in London IPO in 4 years • One of the top Oil & Gas performers in FTSE 250 YTD • First London-listed, international O&G operator to list on TASE 3 3
Slide 4: Growth and Performance at the Heart of Energean
Growth and Performance at the Heart of Energean 450 397 400 350 300 300 mmboe 250 237 200 150 100 58 50 7 24 30 11 17 2 5 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Jun-18 Prinos 2P Prinos 2C Katakolo 2P Karish and Tanin 2C Karish and Tanin 2P 4 4
Slide 5: A history of delivery in Greece
A history of delivery in Greece 5.0 4.5 4.0 3.5 3.0 10 kboed 2.5 kbopd 2.0 by 2021 1.5 1.0 0.5 0.0 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018 3Q to date 27,500 boepd process & operating capacity 2018 • Prinos North extended reach well • Production: 4,000 – 4,250 boepd • Epsilon extended reach w
Slide 6: Karish Tanin: FDP approval to FID in 6 months
Karish Tanin: FDP approval to FID in 6 months Efficient, fast and effective execution 6 6
Slide 7: On track to deliver First Gas in 1Q 2021
On track to deliver First Gas in 1Q 2021 March 2018 Q1 2019 Q3/Q4 2019 Q2 2020 • FID • Pipeline • Sales-gas • Installation of beach pipeline production crossing at installation manifold and Dor Dor to Karish other sub-surf structures Q1 2021 2018 2019 2020 First Gas 26 Nov 2018 March 2019 Q4 2019 FP
Slide 8: Building an 8 BCMA vessel…gearing for further growth
Building an 8 BCMA vessel…gearing for further growth • The only FPSO in the East Med • Infrastructure hub for future developments • 3.8 BCMA of “Spare” Capacity…to be filled 9 9
Slide 9: Significant near-field prospective resources
Significant near-field prospective resources Targeting multiples of upside through infrastructure-led exploration 7.5 TCF KARISH NORTH BLOCK 12 KARISH HESTI EAST A KARISH Material prospective TANIN KARISH MAIN 1 HER ZEUS ATHENA MESOZOIC 2 resource volumes with a F TANIN A APOLL 2 2 2 high1 chance of
Slide 10: First Step…Karish North
First Step…Karish North Key Stats • Drilling March ’19 Karish North • 1.3 Tcf Gas & 16.4 mmbbls liquids • Well to be suspended as potential producer. • 69% chance of success • Single well development in the Karish success case Main 1. Previously quoted figure of >80% relates to the C sands only. C s
Slide 11: Next Steps…three wells into Karish Main
Next Steps…three wells into Karish Main Key Stats • Karish Main development drilling – 3 wells in 2019 • Upside to be targeted through Karish development drilling – Lower D sands 0.5 Tcf • Good quality sands identified at this geological depth in Tanin-1 12 12
Slide 12: Right Project, Right Market, Right Time
Right Project, Right Market, Right Time Providing the lowest cost resource to meet Israeli gas demand growth 35 30 25 BDO demand forecasts 20 bcma 15 Adiri committee demand forecasts 10 5 0 Energean Contracted Energean Available Capacity Rest of Market per Adiri Additional demand per BDO 13 Source:
Slide 13: Key Highlights
Key Highlights Karish-Tanin a $1,6 billion project on track for first gas in 2021 Bringing competition and security of supply to Israeli Gas Market Building an 8 BCM FPSO – creating strategic infrastructure for the country Drilling 4 wells in 2019 in Israel Developing 2.4 TCF of Karish-Tan
Energean — 16th Israel Energy and Business Convention (November 2018) on 6ix