Galp Energia, Sgps S.a. Class B · EURONEXT:GALP
Galp Energia, Sgps S.a. Class B — Galp Energia — Investor Day (March 2012)
24 slides from Galp Energia, Sgps S.a. Class B's investor day presentation, Mar 6, 2012
Slide 1: Delivering world class development projects
Delivering world class development projects Carlos Alves Head of Exploration & Production
Slide 2: A focused E&P strategy
A focused E&P strategy Resources and targets High potential exploration assets Delivering world class development projects 2 | Capital Markets Day - March 6th 2012
Slide 3: Development options being analysed according to SEE approach
Development options being analysed according to SEE approach Area 4 location Distance to onshore just 40 km Multi-train LNG train development scenarios are being developed Unitisation discussions with area 1 shall take place in near future Flow rates expected to be up to 4 Mln m3/d (150 mmsc
Slide 4: Development concept solutions being studied
Development concept solutions being studied Natural gas development options Onshore Onshore processing liquefaction plant unit Offshore Onshore processing liquefaction platform unit Offshore Offshore processing liquefaction platform unit 4 | Capital Markets Day - March 6th 2012
Slide 5: Location near interesting LNG consumption markets
Location near interesting LNG consumption markets LNG markets Global LNG market expected to double to c.400 Mtpa in 2020 Interesting geographical location to target the growing demand from Asian market Leverage on partners and in-house Angolan and Brazilian experience to develop and market nat
Slide 6: Pre-salt province revealed key success characteristics
Pre-salt province revealed key success characteristics Pre-salt Santos basin Galp Energia benefited from being within the first movers into the pre-salt area Seven discoveries within pre-salt layer in four blocks Presence since 2000 starting to materialize Significant upside potential from f
Slide 7: Potentially material appraisal activity underway in Júpiter
Potentially material appraisal activity underway in Júpiter BM-S-24 Gross 3C contingent resources above 5 bln boe1, of which 1/3 oil, 1/3 condensates and 1/3 natural gas High CO2 content and to be studied by Jupiter NE appraisal well EWT in Júpiter area expected for 2015 Expected DoC until F
Slide 8: CO2 monetization as a potential upside
CO2 monetization as a potential upside CO2 injection in reservoir Enhanced oil recovery through CO2 injection in carbonate reservoirs proved to improve recovery efficiencies Opportunity to act as a regional supplier of CO2 to pre-salt clusters to EOR development Pre-salt facilities (Subsea and
Slide 9: Júpiter development is viable and with material upside
Júpiter development is viable and with material upside Júpiter resources development CO2 CO2 Gas / monetization Condensate upside Oil Current 3C Oil upside resources potential Worst case Base case Best case Development of oil Development of oil Development of oil rim rim and gas cap rim (with oil up
Slide 10: Appraisal activities confirmed Iara's potential
Appraisal activities confirmed Iara’s potential Iara field Two wells drilled so far found a reservoir of oil with high quality Reservoir rocks composed of microbial carbonates from sag and rift sections Formation tests on Iara Horst registered good quality data 3-4 bln boe with upside potent
Slide 11: Drilling performance with high angle wells encourages application in Iara
Drilling performance with high angle wells encourages application in Iara Drilling optimization Potential upside through multi-lateral and horizontal drilling on development phase in a cost effective manner Technology being tested currently in Lula field Potential for upward revision of recove
Slide 12: Development of Iara being studied
Development of Iara being studied Iara field Iara West currently being drilled with results expected during 2Q12 targeting a structure with potentially better reservoir characteristics Intensive activity gathering information to prepare the development plan EWT planned in the sequence of Iara
Slide 13: Lula/Cernambi project has been a successful journey
Lula/Cernambi project has been a successful journey 2012 and beyond 2011 2010 2009 • First 2006 • First oil from international 2000 • First EWT 1st pilot oil sale FPSO • First gas • Tupi • Iracema • Lula/Cernambi • BM-S-11 commercialization discovery discovery DoC awarded 13 | Capital Markets Day -
Slide 14: Significant progress achieved in 2011
Significant progress achieved in 2011 FPSO BW Cidade de São Vicente Appraisal activity during 2011 revealed better reservoir characteristics than initially expected Initial flow capacity above expectations EWT in Lula NE confirmed the productivity achieved in previous tests Currently perform
Slide 15: Fast development of a world-class project
Fast development of a world-class project Lula-1 project Lula – 1 project to reach full capacity in March Four producing wells and one gas injection well to be in place at the end of March Two WAG injection wells to be connected to FPSO Cidade de Angra dos Reis in 2012 Ready to connect highl
Slide 16: Infrastructure secured to support project development
Infrastructure secured to support project development FPSO deployment in Lula/Cernambi 2nd and 3rd production units being converted and expected to be on stream by 2Q13 and 2014 respectively Works for the deployment of the six hulls already started at Rio Grande shipyard FPSO deliveries on tim
Slide 17: Lula/Cernambi production of c.1,500 kboepd in 2020
Lula/Cernambi production of c.1,500 kboepd in 2020 Lula/Cernambi production profile (kboepd) Production profile based on current technological achievements 2,000 Better reservoir characteristics allowed the upwards revision of production target 1,000 Knowledge acquired with Lula-1 will be key
Slide 18: Significant and reachable upside potential on Lula/Cernambi project
Significant and reachable upside potential on Lula/Cernambi project Subsea equipment WAG alternative ready to be tested in Lula-1 from 2012 onwards Each 1 p.p. increase in recovery factor results in an incremental c.300 Mboe of recoverable volumes Potential for further capacity de- bottlenecki
Slide 19: Angola is currently a development story
Angola is currently a development story Angola blocks Presence in Angola rewarded with 26 discoveries Three fields already under production: Kuito, BBLT and Tômbua-Lândana Current projects already reached peak production Further production increase will be driven by new projects already iden
Slide 20: Five areas still to be developed
Five areas still to be developed Blocks 14/14K Kuito, BBLT and Tômbua-Lândana reaching mature phase Lianzi, Malange and Lucapa first oil expected to occur between 2014 and 2017 Development scenarios based on both tie-backs and new FPSO production unit World-class technical breakthroughs: Con
Slide 21: From exploration success into development stage
From exploration success into development stage Blocks 32/33 First oil expected by 2016 Two FPSO expected to be in place by 2017 with an aggregated capacity of c.200 kbopd 14 discoveries and 12 development areas identified Going ahead with the evaluation programme in block 33 21 | Capital Ma
Slide 22: Development of world class projects on track to achieve 300 kboepd by 2020
Development of world class projects on track to achieve 300 kboepd by 2020 Mozambique development project being studied with first gas expected by 2018 Brazil gaining momentum and driving production growth Significant upside through testing different techniques in pre-salt Santos basin Angol
Slide 23: Acronyms
Acronyms # Number GWh Gi ga Wa tt hour $ Uni ted States dol l a r HSE Hea l th, Sa fety a nd Envi ronment % Percentage IPO Ini tia l Publ i c Offeri ng 2D Two di mens i ona l s ei s mi c Kboepd Thous a nd ba rrel s of oi l equi va l ent per da y 3D Three di mens i ona l s ei s mi c Kbpd Thous a nd b
Slide 24: Disclaimer
Disclaimer Financial outlook figures are RCA figures except otherwise noted. Matters discussed in this presentation may constitute forward-looking statements. Forward-looking statements are statements other than in respect of historical facts. The words “believe,” “expect,” “anticipate,” “intends,”