Newmed Energy Limited Partnership · TASE:NWMD

Newmed Energy Limited Partnership — Delek Drilling & Avner Oil Exploration — Corporate Update (February 2017)

18 slides from Newmed Energy Limited Partnership's corporate update, Feb 26, 2017

  1. Slide 1: Leviathan Project Sanction

    Leviathan Project Sanction Yossi Abu - CEO Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med

  2. Slide 2: Disclaimer

    Disclaimer This presentation was prepared by Delek Drilling – Limited Partnership and Avner Oil Exploration – Limited Partnership (jointly, the “Partnerships”), and is given to you only for the provision of concise information for the sake of convenience, and may not be copied or distributed to any

  3. Slide 3: Leviathan – Project Highlight

    Leviathan – Project Highlight Ownership Delek Drilling 22.7%, Avner 22.7%, Ratio 15% Noble Energy (operator) 39.7% 2C Resources 21.9 tcf (621 bcm), 39.4 mmbbl condensate Estimated First Gas Year end 2019 Production Capacity (Phased development) Phase 1A- 1.2 bcf/d (~12 bcm/y) Phase 1B- 0.9 bcf/d (~9

  4. Slide 4: Leviathan – Modular Development

    Leviathan – Modular Development Phase 1A of Leviathan development sanctioned, future cost efficient expansion Capacity of 1.2 bcf/d (approx. 438 bcf/y) Capacity of 2.1 bcf/d (approx. 766 bcf/y)  Development plan for phase 1A includes construction of an offshore fixed platform with a 1.2 bcf/d (appr

  5. Slide 5: Leviathan Phase 1A

    Leviathan Phase 1A 1.2 bcf/d module development detailed design 1,200 mmcfd capacity:  4 Subsea wells, each capable of up to 400 mmcfd (4.1 bcm/y)  2 X 18” subsea tieback flowlines, 117 km each capable of up to 600 mmcfd (6.2 bcm/y)  4 infield flowlines + 1 Umbilical + 2 MEG flowlines  Manifold

  6. Slide 6: Development Work Plan Schedule

    Development Work Plan Schedule Source: Leviathan operator (NBL) Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 6

  7. Slide 7: Leviathan Phase 1A Development Fabrication, Transportation, & Installation

    Leviathan Phase 1A Development Key contracts, for on time and on budget delivery, are in place : Fabrication, Transportation, & Installation Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 7

  8. Slide 8: Leviathan – Technical Status Update

    Leviathan – Technical Status Update  Front End Engineering Designed Finalized  Subsea gathering pipeline route finalized  ~75% of budget based on firm bids and signed LOI’s  Drill 1 to 2 new production wells in 2017  Critical regulatory approvals for on- shore landing received  Risk modeling o

  9. Slide 9: Leviathan Sub Surface Development

    Leviathan Sub Surface Development Lev 5 Lev 3 Lev 7 Lev 4 Legend: - Existing well - Planned well Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 9

  10. Slide 10: Leviathan production wells

    Leviathan production wells Lev-3 Lev-4 Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 10

  11. Slide 11: Leviathan production wells

    Leviathan production wells Lev-5 Lev-3 Lev-4 Lev-7 Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 11

  12. Slide 12: 2017 Drilling Program- Considering Batch Drilling

    2017 Drilling Program- Considering Batch Drilling Levi-5 Levi-7 Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 12

  13. Slide 13: 2017 Drilling Program- Considering Batch Drilling

    2017 Drilling Program- Considering Batch Drilling Levi-5 Levi-7 Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 13

  14. Slide 14: Levant Basin – Geology

    Levant Basin – Geology Leviathan Deep Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 14

  15. Slide 15: Leviathan Financing

    Leviathan Financing Bridge to bond project finance secured with credit agreement  Delek Drilling & Avner oil exploration DD & AVNR Development Capex Ramp-Up ($mm) Capex share of c. $1.75 B 900  4 years bridge financing with target to refinance through long term bond financing 600  Funding is base

  16. Slide 16: Leviathan Phase 1A Expected Cash Flow ($mm)

    Leviathan Phase 1A Expected Cash Flow ($mm) 800 600 400 200 0 -200 -400 -600 -800 -1,000 -1,200 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 CAPEX DD & AVNR FCF State Royaltie

  17. Slide 17: Leviathan– Various Potential Markets

    Leviathan– Various Potential Markets Israel – Domestic market Jordan - NEPCO Palestinian Authority Egypt – Domestic market Egypt Turkey Delek Drilling & Avner Oil Exploration – Energizing The Eastern Med 17

  18. Slide 18: Thank You

    Thank You

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