Dno Asa Class A · OSL:DNO
Dno Asa Class A — DNO International — Investor Day (2008)
21 slides from Dno Asa Class A's investor day presentation, 2008
Slide 1: The Kurdistan Region of Iraq
DNO INTERNATIONAL ASA THE KURDISTAN REGION OF IRAQ
Slide 2: The New Frontier: A Region with High Potential
THE NEW FRONTIER A REGION WITH HIGH POTENTIAL • Attractive • Kurdistan is unexplored relative to the rest of Iraq • Highly prospective area combined with early entry opportunity at a low cost on trend with very large fields including Kirkuk • Iraq has numerous undeveloped large fields and unexplored
Slide 3: DNO in Kurdistan: First in Iraq
DNO IN KURDISTAN FIRST IN IRAQ • DNO was the first foreign company to explore for oil in Iraq for decades • We have a strong and competent organization divided between Kurdistan, Dubai, and Oslo • Excellent cooperation with Kurdistan Regional Government • Production facilities capable of delivering
Slide 4: Infrastructure in Iraq
INFRASTRUCTURE IN IRAQ ESTABLISHED OIL EXPORT ROUTES Mosul IRAQ • Iraq has 6,960 kilometers network of KIRKUK International boundary Oil pipeline pipelines Kirkuk Oil • Two major pipelines are installed from Beiji Gas Tanker terminal (near Kirkuk) to Ceyhan coastal terminal in Bayji Pump station Ref
Slide 5: Companies in Kurdistan
COMPANIES IN KURDISTAN Company name # of Blocks Aspect energy 1 Crescent 1 Perenco DNO Dana Gas 1 Hillwood DNO 3 Open DNO Aspect Open Gulf Key Stone 1 Gulf Key Stone Heritage 1 Hunt Oil MOL Reliance Open Hillwood 1 Open Reliance Open Open Hunt Oil 3 TNK-BP DNO Open OMV Open KEPCO 5 TNK-BP TNK-BP KNO
Slide 6: Gross Daily Production from Tawke
GROSS DAILY PRODUCTION FROM TAWKE BARRELS OF OIL PER DAY 15 000 13 500 2007 AVERAGE PRODUCTION: 5 645 BOPD 2008 AVERAGE PRODUCTION: 7 278 BOPD 12 000 10 500 9 000 7 500 6 000 4 500 3 000 2007 2008 1 500 0 17 June 2007 Februar 2008 CAPITAL MARKETS DAY 2008 │ 6
Slide 7: Reserve Development in Kurdistan
RESERVE DEVELOPMENT IN KURDISTAN REVISED ESTIMATES FOR TAWKE • Based on latest data available and initial results from reservoir modeling: • Oil In Place is ranging from 0.9-1.9 billion barrels with a current best estimate of 1.3 billion barrels • Gross recoverable reserves is ranging from 150-370 m
Slide 8: Producing Oil in Kurdistan
PRODUCING OIL IN KURDISTAN
Slide 9: The Tawke Project: Overview
THE TAWKE PROJECT: OVERVIEW OIL FLARE GAS WATER WELL FLUID 2 X 10,000 bbls SEPARATOR - 2 stages CRUDE OIL TANKS 10,000 bopd WELL LOADING CAPACITY PUMP WATER INJECTION TANK (FUTURE) TAWKE FIELD PIPELINE TIE-IN AREA 45 km 12” EXPORT PIPELINE 50,000 bopd 2 X 70,000 bbls FISCAL METER TANKS 350,000 bopd
Slide 10: Tawke: Central Processing Facility
TAWKE: CENTRAL PROCESSING FACILITY Tawke Central Processing Facility Area Central Processing Facility CAPITAL MARKETS DAY 2008 │ 10
Slide 11: Tawke: Central Processing Facility
TAWKE: CENTRAL PROCESSING FACILITY Tawke flare Tawke CPF crude storage tanks CAPITAL MARKETS DAY 2008 │ 11
Slide 12: Operations on Tawke: Pipeline
OPERATIONS ON TAWKE: PIPELINE Pipelines at the Tawke Field CAPITAL MARKETS DAY 2008 │ 12
Slide 13: Operations on Tawke: Tie-in Area
OPERATIONS ON TAWKE: TIE-IN AREA Existing export line and fiscal metering station at tie-in area in Fishkhabour CAPITAL MARKETS DAY 2008 │ 13
Slide 14: Exploring the Potential
BEXBIORING THE POTENTIAL -~
Slide 15: Exploration in Kurdistan
EXPLORATION IN KURDISTAN Sindy-1 Rig GWDC Rig CAPITAL MARKETS DAY 2008 │ 15
Slide 16: The Tawke PSC: Overview
THE TAWKE PSC: OVERVIEW “RING-FENCED” TAWKE OIL FIELD: • The license cover 406 km 2 • Two producing horizons DEVELOPMENT/APPRAISAL WORK • To date DNO has performed a 3D seismic campaign of 200 km2 and a 2D seismic campaign of 81 km • 10 development wells have been drilled, as well as an water inject
Slide 17: The Dohuk PSC: Overview
THE DOHUK PSC: OVERVIEW REVISED DOHUK PSC • PSC Agreement Area: 1,652 km 2 Dihok West • Tawke field is ‘ring-fenced’ and defined Dihok Central as a separate PSC EXPLORATION WORK Linava • More than 475 km of 2D seismic have been acquired since 2005 Bare Bahar • Two exploration wells Sariyah • The Kha
Slide 18: The Erbil PSC: Overview
THE ERBIL PSC: OVERVIEW AGREEMENT AREA • PSC Agreement Area: 313 km 2 EXPLORATION WORK • DNO have acquired 133 km of 2D seismic since 2005 Hawler-1 • Hawler #1 exploration well has been drilled Bastora and is currently being tested • In the lower horizon the well has tested 9,000 bopd and 11MM scf/d
Slide 19: Closing Remarks
CLOSING REMARKS
Slide 20: Summary
SUMMARY A MASSIVE OPERATION • Two original PSAs reviewed by KRG and finalized as three PSCs in compliance with the Regional Petroleum Law • Tawke Field Development finished awaiting export tie-in to existing pipeline infrastructure – 50,000 bopd design capacity • Tawke oil being sold to the Iraqi do
Slide 21: Disclaimer: Forward Looking Statement
DISCLAIMER: FORWARD LOOKING STATEMENT This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, est