Dno Asa Class A · OSL:DNO
Dno Asa Class A — DNO International — Corporate Update (June 2009)
17 slides from Dno Asa Class A's corporate update, June 2009
Slide 1: Market Update: Kurdistan
DNO INTERNATIONAL ASA Market Update: Kurdistan
Slide 2: Initiation of crude oil exports from Tawke
Initiation of crude oil exports from Tawke Export of crude oil from Tawke • Completed all outstanding work • Undertaken all necessary preparations and commissioning • Commenced on 1st June 2009 A joint effort • A product of the joint efforts by KRG and DNO • Excellent cooperation between North Oil C
Slide 3: A Pioneer Project
A PIONEER PROJECT
Slide 4: DNO in Kurdistan
DNO in Kurdistan Early entry in 2004 Tawke PSC TURKEY • In the forefront of events DNO SYRIA Dohuk PSC • Instrumental in developing the local oil industry IRAN Erbil PSC Fast track development • Developed flexible full scale E&P operations • Export initiated on 1 June, 2009 Strong momentum in the reg
Slide 5: Tawke – a fast track and robust project
Tawke – a fast track and robust project Tawke key facts (Gross figures) Expected Oil in Place (MBOE) 1,300 P50 Reserves (MBOE) 230 - Phase I process facilities (CPF, pipeline, topping plant) 90 - Phase I export facilities (Metering station, tie-in) 32 - Wells, incl. testing and completions (14 wells)
Slide 6: Reserve Estimate
Reserve Estimate MARKET PRESENTATION REVISED RESERVE ESTIMATES In place volumes Range 0.9 to 1.9 billion bbls Current expected value of 1.3 billion bbls Recoverable reserves Range 150 to 370 million bbls Current expected value of 230 million bbls Comments Dynamic reservoir data and studies required
Slide 7: Tawke Main Milestones
TAWKE MAIN MILESTONES Tie in completed and export of crude oil initiated Long term test production CPF transported and installed at the Tawke field The Tawke Oil Discovery Acquisition of seismic data Initial agreement with KRG 2004 2005 2006 2007 2008 2009
Slide 8: Quotes from Iraqi and Kurdistan leaders on oil deals
“The oil deals signed by the KRG are legal and constitutional. They are “The revenues from today’s historic export will – and must – be handled constitutional according to the article 112 of Iraqi constitution.” fairly and transparently. And oil contractors shall and must be rewarded for their contr
Slide 9: Operator responsibilities
Operator responsibilities Turkey's Petroleum Pipeline Corporation (BOTAS) ¢ Pipeline system in Turkey State Oil Marketing Organization (SOMO) ¢ Sales at outlet in Turkey North Oil Company (NOC) * Tie-in area * Iraq export pipeline system DNO Iraq AS * Tawke field * Tawke pipeline
Slide 10: Wells at the Tawke field
Wells-at the Tawke_field
Slide 11: The Central Processing Facility
The Central Processing Facility Market Update: Kurdistan 2009 | 11
Slide 12: The tie-in area at Fishkhabour
The tie-in area at Fishkhabour Market Update: Kurdistan 2009 | 12
Slide 13: An Industrial Accomplishment
AN INDUSTRIAL ACCOMPLISHMENT
Slide 14: Kurdistan PSC Update
Kurdistan PSC Update Tawke PSC » DNO (55%), Genel Enerji (25%), KRG (20%) e DNO paying interest: 75% ° Royalty: 10% » Net entitlement: R-factor* Dohuk PSC » DNO (40%), Genel Enerji (40%), KRG (20%) ° DNO paying interest: 60% * Royalty: 10% e Net entitlement: R-factor Erbil PSC * DNO (40%), TBA (40%)
Slide 15: Way forward
Way forward An historical milestone • First crude oil from Kurdistan to the international market • DNO holds a key position in the development of the oil industry in the region Ramp up of production • Establish a stable export rate at full capacity as soon as possible in a safe and prudent manner Fu
Slide 16: Welcome Back
Second quarter 2009: 19 August 2009 WELCOME BACK
Slide 17: Disclaimer
DISCLAIMER 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, estimates and projections abo