Orron Energy Ab · OMXSTO:ORRON
Orron Energy Ab — Lundin Petroleum — ONS 2012
29 slides from Orron Energy Ab's conference presentation, Dec 9, 2012
Slide 1: Lundin Petroleum in Norway
Lundin Petroleum in Norway WF11515 Press Presentation - ONS 2012
Slide 2: Lundin Petroleum Strategy
2 Lundin Petroleum in Norway Lundin Petroleum Strategy To grow a Norwegian independent E&P company through proactive exploration, production and growth Norway WF11515 p11 08.12
Slide 3: Norway - Successful Organic Growth
3 Norway - Successful Organic Growth LICENCES PEOPLE PRODUCTION RESERVES CONTINGENT boepd MMboe RESOURCES MMboe 696.9(1) 168.3(2) 23,300 160 56 13 13 0 0 0 2004 2012 2004 2011 2004 2011 end 2004 end 2011 end 2004 end 2011 WF11515 p8 08.12 Finding cost, after tax, <1 USD/bbl in Norway (1) Includes St
Slide 4: Norway Capital Investment - Net to Lundin
4 Norway Capital Investment - Net to Lundin CAPEX 2004-2011 NOK 10.2 billion DEVELOPMENT 2012-2015 NOK 15 billion Edvard Grieg Brynhild Bøyla EXPLORATION & APPRAISAL NOK 2.5 Billion per year => > NOK 25 billion over the next four years WF11515 p4 08.12
Slide 5: Norway Production Growth
5 Norway Production Growth Future Exploration Success Johan Sverdrup Apollo Edvard Grieg Skalle Caterpillar Bøyla Brynhild Discoveries not included in +100% production forecast increase in production boepd 23,000 23,300 WF11515 p10 08.12 2011 1H 2012 2013 2014 2015 2016
Slide 6: Exploration in Norway - Organic Growth
6 Exploration in Norway - Organic Growth Major position built through organic growth Norway number of licences 60 55 50 45 40 35 30 25 20 15 10 5 0 03 04 05 06 07 08 09 10 11 12 20 20 20 20 20 20 20 20 20 20
Slide 7: Norway - A Successful Organic Growth Story
7 Norway - A Successful Organic Growth Story 865 MMboe of Reserves(1) and Contingent Resources(2) After tax finding cost of less than USD 1/bbl WF11415 p1 01.12 (1) Includes updated Brynhild equity interest (WI: 100%) (2) Statoil estimate (120 MMboe net Lundin) for Johan Sverdrup PL265
Slide 8: Norway Exploration Drilling Programme
8 Norway Exploration Drilling Programme Barents Sea Norway North Sea 6205 6204 6203 216 217 218 219 6201 6202 6203 6204 Lundin Petroleum Licences 6108 6107 6103 PL519 - Albert 220 Operated 6106 Non-operated 6105 Møre Basin Area 6104 Hydrocarbon fields/discoveries North Sea 214 0033 208 209 0036 210
Slide 9: The Southern Utsira High - A Sleeping Giant
9 The Southern Utsira High - A Sleeping Giant 0 KM 20 Oil APA 2012 Gas PL625 APA 2010 PL546 A 4th generation exploration PL501 APA 2009 and a major oil province 45 years after the first award: PL001 in 1965 Major acreage position built by Lundin Petroleum PL501B APA 2011 since 2004 APA 2004 PL338 PL
Slide 10: Johan Sverdrup - A New Giant in Norway
10 Johan Sverdrup - A New Giant in Norway Edvard Grieg PL338 PL265 Geitungen - new exploration discovery 2 16/2-13S sidetrack currently drilling PL50 11 11A 7 7A OWC -1922m 4A 4 1 PL50 WF11497 p5 07.12 8 wells drilled to date on Johan Sverdrup
Slide 11: PL501 - 16/2-13S Johan Sverdrup Appraisal
11 PL501 - 16/2-13S Johan Sverdrup Appraisal PL546 PL501 16/2-2 PL501 licence: Lundin Petroleum 40% operator Partners: Statoil 40% , Maersk 20% Aldous Major North 16/2-9S 25 oil meter gross oil column in Upper and Middle Jurassic sandstone reservoir in an oil-down-to situation 16/2-12 The reservoir
Slide 12: PL265 - Geitungen Discovery (16/2-12)
12 PL265 - Geitungen Discovery (16/2-12) PL546 PL501 16/2-2 PL265 licence: Lundin Petroleum 10% Partners: Statoil (40%) operator, Petoro 30%, Aldous Major North Det norske 20%, 16/2-9S Estimated resources: 140 to 270 MMboe Geitungen discovery (16/2-12) 16/2-12 35 meter gross oil column in Jurassic s
Slide 13: Utsira High Exploration Area
13 Utsira High Exploration Area 2012 Exploration Drilling Johan Sverdrup discovery PL359 (Lundin 40% operated) Luno II prospect N Johan Sverdrup play type Edvard Grieg discovery So Reservoir: Upper Jurassic ut he Gross unrisked prospective rn resources: 139 MMboe Ut sir Drilling: Q4 2012 aH 0 4 0024
Slide 14: Southern Utsira High - Broadband 3D Seismic
14 Southern Utsira High - Broadband 3D Seismic 0 2 KM 8 Lundin operated 3D on the Haugaland High : 2008 3D OBC 40 km2 over (Edvard Grieg) P625 PL546 2009 3D Geostreamer 1650 km regional 2 PL167&167B PL501 2011 3D Broadseis test 300 km2 J. Sverdrup Johan Sverdrup Discovery Edvar Grieg 2012 3D Broadse
Slide 15: Møre Basin Area - A New Core Area
15 Møre Basin Area - A New “Core” Area Lundin operated block Lundin non-operated block 2012 Exploration Drilling PL519 Lundin 40% (Operator) PL555 Lundin 60% (Operator) PL519 (Lundin 40% operated) PL579 Lundin 50% (Operator) PL631 Lundin 60% (Operator) - APA2011 Møre Basin Albert prospect PL639 Lund
Slide 16: Barents Sea Area
NORWAY 7221 16 7220 Barents Sea Area 7219 6915 6917 Tromso PL532 0 5 KM 20 PL609 6916 Rauto 6914 2012 Exploration Drilling PL533 Salina Bieksu & Geres PL533 (Lundin 20%) PL609B Rein Salina prospect 7317 Gohta 7324 SWEDEN 7325PL492 On trend with “Skrugard 7316and Havis” discoveries 7323 Juksa Juksa 6
Slide 17: PL533 Salina
17 PL533 Salina PL659 April 2011 PL609 Skrugard Discovery 200–300 MMboe PL609B PL438 PL490 PL492 Januray 2012 Havis Discovery 200–300 MMboe Salina Skalle PL533 Juksa/Snurrevad PL563 WF11421 p2 08.12
Slide 18: Bridging Environmental Knowledge in the Barents Sea
18 Bridging Enviromental Knowledge in the Barents Sea Ship wrecks and disposal sites Oil seep Deep water reefs Gas seep Plow mark Gas hydrate Bottom trawling Pock mark tracks Shallow gas Gas migration along fault Oil migration along fault WF11515 p2 08.12 Gas reservoir Oil reservoir
Slide 19: Environmental Seabottom Mapping
19 Environmental Seabottom Mapping Oil slicks from satellite data Regional and high resolution 2D data Hugin Photos Released data and data bought from several Vendors PCable high resolution seismic Multibeam Echosounder and TOPAZ data Sponges from Hugin Photo ROV photo inspection and Sampling Gravit
Slide 20: Brynhild - Development
20 Brynhild - Development PL292B MARIA 0 KM 20 SEYMOUR PL292 Gaupe Lundin Petroleum Operator Lundin Petroleum Partner Lundin Petroleum interest: 70% (operator) SHELLEY PL292 PDO approved in November 2011 NORWAY 022/08 (Area 2) PL495B Tie-back to Haewene Brim FPSO located EVEREST N;S AND CATS at Shel
Slide 21: Brynhild - Development
21 Brynhild - Development Lundin Petroleum’s main contractors: Aker (SPS) Technip (pipelines and installation) Maersk Drilling (jack-up) Pierce topside modifications: Shell WF11515 p9 08.12
Slide 22: Utsira High Area - Edvard Grieg Development
22 Utsira High Area - Edvard Grieg Development 0 KM 20 Lundin Petroleum interest: 50% (operator) PL036c Wintershall 30%, RWE Dea 20% PL203 Alvheim Area PL150B PL150 PL505BS 008 009 PL340 Plan of Development approved PL505 0025 0026 2P reserves: 186 MMboe gross PL340BS 0024 PL570 PL546 UK PL625 Plate
Slide 23: Edvard Grieg Development Project
23 Edvard Grieg Development Project Production startup Oct 2015 Capital costs: 24 NOK billion Drilling 15 wells from jack-up rig 11 producers and 4 water injectors Contract award to Rowan companies Platform PdQ Jacket and Topsides - contracts awarded to Kværner Marine installations - contract awarde
Slide 24: Edvard Grieg Development - Main Contracts
24 Edvard Grieg Development - Main Contracts Jacket Contract - value 1 BNOK The jacket will be built by Kværner Verdal under an EPC contract awarded in May 2012, delivery March 2014 Topside Contract - value 8 BNOK An EPC contract for the whole topside has been awarded to Kværner Stord in May 2012, w
Slide 25: Edvard Grieg - Project Schedule
25 Edvard Grieg - Project Schedule 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q2 Q3 Q4 J F M A M J J A S 0 N D J F M A M J J A S 0 N D J F M A M J J A S 0 N D J F M A M J J A S 0 N D 16/1-8 (11.2007) Edvard G
Slide 26: Organic Growth Strategy
26 Organic Growth Strategy Find oil with the drill bit - organic growth Loppa High Area Leverage on organisational knowledge Portfolio synergy in relation to improved exploration and development Design yearly balanced exploration drilling portfolios in relation to Frontier breakthrough Norway Growth
Slide 27: Norway - 2012 Drilling Schedule
27 Norway - 2012 Drilling Schedule 2012 (1) (2) Licence - Prospect Operator LUPE% NUPR CoS % NRPR Q1 Q2 Q3 Q4 1 PL501 - Johan Sverdrup 16/2-11 App. Lundin 40.00 – – – Discovery 2 PL265 - Geitungen 16/2-12 Statoil 10.00 – – – Discovery 3 PL265 - Johan Sverdrup App.1 Statoil 10.00 – – – 4 PL265 - Joha
Slide 28: Disclaimer
28 Disclaimer This information has been made public in accordance with the Securities Market Act (SFS 2007:528) and/or the Financial Instruments Trading Act (SFS 1991:980). Forward-Looking Statements Certain statements made and information contained herein constitute "forward-looking information" (w
Slide 29: Visit us at www.lundin-petroleum.com
29 VISIT US AT WWW.LUNDIN-PETROLEUM.COM