Tullow Oil Plc · LSE:TLW
Tullow Oil — Deutsche Bank Conference 2012
19 slides from Tullow Oil's conference presentation, Sep 27, 2012
Slide 1: Africa's Leading Independent Oil Company
Deutsche Bank Conference – 27 September 2012 Tullow Oil plc Africa’s Leading Independent Oil Company Paul McDade– Chief Operating Officer Deutsche Bank Conference– 20 September 2012
Slide 2: Disclaimer
Deutsche Bank Conference – 27 September 2012 Disclaimer This presentation contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas exploration and production business. Whilst Tullow believes the expectations reflected he
Slide 3: Introduction
Deutsche Bank Conference – 27 September 2012 Tullow Oil plc Introduction
Slide 4: Repeatable strategy delivering success
Deutsche Bank Conference – 27 September 2012 Repeatable strategy delivering success • Record half year results & strong balance sheet • Continued basin opening exploration success • Increasing production profile • Strong pipeline of exploration & development opportunities • Proven team focussed on l
Slide 5: Creating shareholder value
Deutsche Bank Conference – 27 September 2012 Creating shareholder value • High-impact exploration portfolio Consistent and repeatable strategy • Ghana: Jubilee production, • Sustainable long term value growth progressing T.E.N. project • Balance exploration, major projects & funding • Uganda: farm-d
Slide 6: 2012 capital expenditure
Deutsche Bank Conference – 27 September 2012 2012 capital expenditure $2 billion capex for full year 2012 2012 $735m $300m $965m $2,000m • Ghana: Jubilee and Phase 1A & TEN developments • Uganda: Lake Albert drilling • Other Africa: Maintaining mature production & high impact exploration 2011 $445m
Slide 7: Strong production performance in 1H 2012
Deutsche Bank Conference – 27 September 2012 Strong production performance in 1H 2012 Group working interest production Current production Oil production North Sea Future production boepd (x000) Africa Ghana Asia Europe 20 Other licence areas Gas production 16 12 8 Pakistan Bangladesh kboepd 4 boepd
Slide 8: World-class portfolio of assets
Deutsche Bank Conference – 27 September 2012 Tullow Oil plc World-class portfolio of assets
Slide 9: Exploration campaigns: Atlantic Margins and East Africa
Deutsche Bank Conference – 27 September 2012 Exploration campaigns: Atlantic Margins and East Africa North Atlantic Exploration Studies & Business Development Central Atlantic Central Atlantic Major Exploration Margin East African Campaign Launched Rift Basins Guyanas East African Transform Margin T
Slide 10: Value creation & monetisation
Deutsche Bank Conference – 27 September 2012 Value creation & monetisation Development & Operations Exploration Core Campaigns Developments Business Discovery & follow-up Appraisal Development Basin Entry •East African Rifts: •Ghana drill-out & appraisal Kenya, Ethiopia •Uganda drill-out & appraisal
Slide 11: East Africa exploration campaigns in 2012
Deutsche Bank Conference – 27 September 2012 East Africa exploration campaigns in 2012 Onshore Rift Basins • Core Campaigns in Kenya and Ethiopia − Multiple rift basins analogous to Lake Albert Rift Basin − Ngamia-1 finds 1.1 kilometre gross oil bearing section − Over 100 metres net oil pay in Upper
Slide 12: East Africa Regional Development Opportunities
Deutsche Bank Conference – 27 September 2012 East Africa Regional Development Opportunities Kenya/Ethiopia EA1A Rift Basins Crude Export 20-30kbd Refinery Pipeline Lamu Oil c.$ 1.5 – 2.5 bn Crude Export Export Pipeline & Sale EA1 EA2 Product Pipeline Uganda Export Pipeline (~ 200+kbd) Mombasa Oil EA
Slide 13: West Africa Transform Margin core campaign
Deutsche Bank Conference – 27 September 2012 West Africa Transform Margin core campaign Campaign finds oil but ‘hub class’ needed • Sierra Leone & Liberia: - Oil & gas condensate system proven - Thick sands only have oil shows (breached traps) - Oil bearing reservoirs have low net-to-gross - Satelli
Slide 14: South America: E&A follow-up in core campaign
Deutsche Bank Conference – 27 September 2012 South America: E&A follow-up in core campaign French Guiana exploration & appraisal • Zaedyus-2 appraisal well drilling up-dip & deepening to test exploration objectives • Wildcat exploration well to test material Priodontes turbidite fan prospect • 3D se
Slide 15: Mauritania: new Central Atlantic Margin core campaign
Deutsche Bank Conference – 27 September 2012 Mauritania: new Central Atlantic Margin core campaign Significant play diversity in Mauritania acreage ∼ 80 Prospects • ∼ 80 prospect inventory, with risk spread through core play diversity, within Central Atlantic petroleum systems Mature Play − Stratigr
Slide 16: Conclusion
Deutsche Bank Conference – 27 September 2012 Tullow Oil plc Conclusion
Slide 17: Some broader industry perspectives
Deutsche Bank Conference – 27 September 2012 Some broader industry perspectives The future is “unknowable”……………… but we can expect………… • Market for quality deepwater rigs and deepwater service companies to tighten – Need to plan ahead and engage early • International oil companies to do more explori
Slide 18: Plans and Strategy for the next phase
Deutsche Bank Conference – 27 September 2012 Plans and Strategy for the next phase Exploration, Appraisal and Development • Explore for “Big, Light Oil” plays to open material new core areas • Compete and partner with majors and large global independents • Selectively invest to maintain and enhance
Slide 19: Questions and Answers?
Deutsche Bank Conference – 27 September 2012 Questions and Answers? Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London, W4 5XT United Kingdom Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Follow Tullow on: Email: chris.perry@tullowoil.com