Karoon Energy Ltd · ASX:KAR
Karoon Energy — Investor Day (October 2024)
35 slides from Karoon Energy's investor day presentation, Oct 28, 2024
Slide 1: Karoon Energy Field Trip Presentation (ASX cover letter)
28 October 2024 Company Announcements Office ASX Limited Dear Sir / Madam For personal use only Karoon Energy Field Trip Presentation As part of an investor day in Brazil, the CEO and Managing Director and others will deliver a presentation titled “Karoon Energy Field Trip”. The presentation is atta
Slide 2: Karoon Energy Field Trip
For personal use only Karoon Energy Field Trip 28 October 2024
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Karoon Energy Ltd. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation
Slide 4: Welcome
For personal use only Julian Fowles CEO and Managing Director Welcome
Slide 5: Safety Moment & Emergency Exits
Safety Moment & Emergency Exits 1 Emergency stairs 2 Emergency elevator 3 Reception In event of emergency, follow directions of Karoon’s emergency For personal use only staff Leave by nearest emergency escape route Only use the emergency lift if you are unable to use the emergency stairs 1 2 Evacuat
Slide 6: Investor Field Trip Agenda
Investor Field Trip Agenda Date Location Time Topic Speaker For personal use only 28 October Rio de Janeiro, 9:00am Introductions /Safety moment – Karoon Brazil Julian Fowles, Marco Brummelhuis Brazil 9:15-10:00am Presentation - Baúna Operations Claudio Oliveira 10:00-10.30am Presentation - Neon Fou
Slide 7: Introducing Karoon's team – Brazil
Introducing Karoon’s team – Brazil For personal use only Julian Fowles Marco Brummelhuis CEO and EVP & Country Manager Brazil Managing Director Ricardo Canela Claudio Oliveira Antonio Corte Head of Sustainability, HSSE, and Vice President Production, Vice President R,D&I, Brazil Brazil Development,
Slide 8: Health, Safety, Security and Environment in Brazil
Health, Safety, Security and Environment in Brazil Safety is one of Karoon’s core values Safety and Environmental Performance YTD24 CY23 CY22 CY21 Total Recordable Injury Rate in Brazil Health, Safety and Security For personal use only High Potential Incidents 9 1 0 3 Lost Time Injuries 1 0 4 1 Medi
Slide 9: Karoon Brazil
For personal use only Marco Brummelhuis EVP & Country Manager Brazil Karoon Brazil
Slide 10: Karoon Values
For personal use only Karoon Values 9
Slide 11: Karoon's assets located in Santos Basin, Brazil
Karoon’s assets located in Santos Basin, Brazil Production and Development Blocks For personal use only Exploration Blocks Fields & Discoveries 10
Slide 12: Strategic objectives for CY24/25 - Brazil
Strategic objectives for CY24/25 - Brazil Improve reliability to unlock full value of assets For personal use only Improve Baúna FPSO’s reliability and operational uptime through increasing availability of critical systems Workover SPS-88 as soon as practical Progress FPSO revitalisation studies Pro
Slide 13: Baúna Project
For personal use only Claudio Oliveira Vice President Production, Brazil Baúna Project
Slide 14: Overview of Baúna Project Operations
Overview of Baúna Project Operations Karoon’s anchor asset First Baúna oil registered on 16 February 2013 Baúna Project production unit: FPSO Cidade de Itajaí For personal use only Karoon acquired Baúna in November 2020 for US$380m plus up to US$285m oil-price related contingent payments: US$170.5m
Slide 15: FPSO Cidade de Itajaí modular schematic
FPSO Cidade de Itajaí modular schematic For personal use only Flare Tower 14
Slide 16: Baúna Project Production
Baúna Project Production Strong reservoir performance, focus on FPSO reliability Baúna Project quar terly production ( MMbbls) Full period of Patola and For personal use only interventions Second gas compressor SPS-88 well offline late back online in August4 20233 3.0 2.9 Baúna Intervention Schedule
Slide 17: Baúna FPSO reliability – forward program
Baúna FPSO reliability – forward program Prioritisation of activities Developing program with Altera&Ocyan to increase reliability and uptime Example: G as compressing sy stem operating performance For personal use only through increased 2024/2025 maintenance campaign: First phase to end 2024 focusi
Slide 18: Baúna FPSO reliability – forward program cont.
Baúna FPSO reliability – forward program cont. Prioritisation of activities For personal use only Next planned shutdown expected in 1H25 for regular maintenance SPS-88 valve replacement sc hematic activities Enhanced maintenance works aimed at improving FPSO reliability and to provide increased conf
Slide 19: Offloading operations
Offloading operations Two routes currently being used For personal use only Historically, Baúna crude was offloaded into Shell-operated shuttle tankers and BRAZIL transported to Uruguay, transferred to larger vessels, Ship-To-Ship (STS) by Shell (together with other similar grade Brazilian oil) and
Slide 20: Baúna key metrics
Baúna key metrics For personal use only Key metrics 1H211 2H211 1H221 2H221 1H231 2H232 1H242 Production volumes MMbbl 2.3 2.5 2.1 3.4 3.7 5.4 3.5 Sales volumes MMbbl 2.4 2.6 2.0 3.4 3.7 5.0 4.0 Revenue US$m 147.0 186.5 198.6 299.4 267.1 409.1 315.0 Average realised oil price US$/bbl 61.4 72.4 100.8
Slide 21: Neon Progress
For personal use only Antonio Corte Vice President Development, Brazil Neon Progress
Slide 22: Potential Neon Foundation Project
Potential Neon Foundation Project Background and recent activities Neon field discovered in 2015 by the Echidna-1 well (1-KPGL-8-SPS). Flowed For personal use only 4,650 bopd, 39° API oil Two control wells drilled in FY23 to reduce subsurface uncertainties Entered Concept Select phase in early CY24,
Slide 23: Neon Foundation Project Resources
Neon Foundation Project Resources Subsurface modelling update underway Interpretation of reprocessed seismic data over the Neon and Neon West area nearing completion: For personal use only Improved structural and salt wall imaging Seismic inversion process commenced, to improve reservoir characteriz
Slide 24: Potential Neon development concept
Potential Neon development concept Revised approach Consideration of redeployed standalone FPSO development: For personal use only Several options potentially available Reduces reliance on one production system with fewer technological risks Assessing commercial models of lease vs buy options Other
Slide 25: Neon hub-style development
Neon hub-style development Possible longer-term opportunities If Neon Foundation is commercial, a hub-style development could be For personal use only considered, involving tie-back of other existing and potential accumulations near Neon: Neon West prospect located ~2km west of Neon Goiá, discovered
Slide 26: Operating environment for oil and gas in Brazil
For personal use only Marco Brummelhuis EVP & Country Manager Brazil Operating environment for oil and gas in Brazil
Slide 27: Brazilian key stakeholders for the O&G Sector
Brazilian key stakeholders for the O&G Sector Federal republic, under a presidential system For personal use only L ul a Pr e s id en t A le xan d re Si l vei ra Ar t hu r Ce r qu e ir a Va le r i o M M E Ex e cu t iv e Se c r et a r y Fe rnando Haddad PP SA CA Ch a ir m a n F inance M inister IRS M
Slide 28: Doing business in Brazil
Doing business in Brazil Political Overview – highlights Government encourages high local content and less divestment flux while giving For personal use only Petrobras a major role within the sector for control and to help finance government social initiatives Stability and predictability: although
Slide 29: Brazilian Top Producers List – August 2024
Brazilian Top Producers List – August 2024 AUGUST/24 PRODUCTION For personal use only Nº Operator Oil (bbl/d) Natural Gas (Mm³/d) Total Production (boe/d) 1 PETROBRAS 2.972.048 143.721 3.876.025 2 EQUINOR BRAZIL 81.714 216 83.072 3 PRIO 72.649 850 77.996 4 3R & ENAUTA Merge = BRAVA 45.327 1.662 55.7
Slide 30: Sustainability
For personal use only Ricardo Canela Head of Sustainability, HSSE, and R,D&I, Brazil Sustainability
Slide 31: Delivering Sustainable Operations
Delivering Sustainable Operations Community Multi-pillared sustainability program For personal use only Delivering Sustainable Operations Health, Safety and Climate People and Community Environment Security Culture Link to sustainability report: https://www.karoonenergy.com.au/wp-content/uploads/Kar
Slide 32: Climate Strategy
Climate Strategy Carbon neutral1 for Scope 1 & 2 emissions since FY21 Reducing Scope 1 emissions from existing operations where possible: Mooring Buoy For personal use only Avoided Emissions Mooring buoy at FPSO used by support vessels to reduce fuel consumption. Total avoided Calendar Year (tCO2e)
Slide 33: Social Projects
Social Projects Improving quality of life of people and communities impacted by our operations Projects summar y v ideo - http s://www.yo utube.co m/watch ?v=rCIcxFqalh 4 For personal use only New projects Reciclart Revolusolar P ro-Crep Redes da Maré Promotes circular economy Involves the installat
Slide 34: Glossary
Glossary Term Definition 1H25 The period from 1 January to 30 June 2025 1Q25 The period 1 January to 31 March 2025 For personal use only 4Q24 The period from 1 October to 31 December 2024 A&O Altera&Ocyan API American Petroleum Institute gravity is a measure of how heavy or light a petroleum liquid
Slide 35: For personal use only
For personal use only