Nordic Energy Summit 2013
Oslo March 21, 2013 Jan Kielland / Nish Dighe
Oslo March 21, 2013 Jan Kielland / Nish Dighe Disclaimer This - - PowerPoint PPT Presentation
Nordic Energy Summit 2013 Oslo March 21, 2013 Jan Kielland / Nish Dighe Disclaimer This presentation does not constitute an offer to buy or sell shares or other financial instruments of Panoro Energy ASA (Company) . This presentation
Oslo March 21, 2013 Jan Kielland / Nish Dighe
This presentation does not constitute an offer to buy or sell shares or other financial instruments of Panoro Energy ASA (“Company”). This presentation contains certain statements that are, or may be deemed to be, “forward-looking statements”, which include all statements other than statements of historical fact. Forward-looking statements involve making certain assumptions based on the Company’s experience and perception of historical trends, current conditions, expected future developments and other factors that we believe are appropriate under the circumstances. Although we believe that the expectations reflected in these forward-looking statements are reasonable, actual events or results may differ materially from those projected or implied in such forward-looking statements due to known or unknown risks, uncertainties and other factors. These risks and uncertainties include, among others, uncertainties in the exploration for and development and production of oil and gas, uncertainties inherent in estimating oil and gas reserves and projecting future rates of production, uncertainties as to the amount and timing of future capital expenditures, unpredictable changes in general economic conditions, volatility of oil and gas prices, competitive risks, regulatory changes and other risks and uncertainties discussed in the Company’s periodic reports. Forward-looking statements are often identified by the words “believe”, “budget”, “potential”, “expect”, “anticipate”, “intend”, “plan” and other similar terms and phrases. We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation, and we undertake no obligation to update or revise any of this information
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Listing: Oslo Stock Exchange (OSE) Offices: Rio de Janeiro (HQ) , London, Oslo Assets: Brazil
West Africa
Shaded areas denote countries where Panoro is listed or has a presence through operations or offices.
Aje Dussafu Congo MKB BS-3 Round 9
Brazil West Africa
Manati
Continued strong production
4 Manati (Brazil) BCAM-40 Operator Petrobras (35%) Working Interest 10% Other Partners Queiroz Galvão (45%), Brasoil (10%) 1st Prod 2007 Current stage Production
12: 7.96)
(3,860 BOE/day) in 2012, up 49% vs. 2011
planned for April
Santos Basin developments - Cavalo Marinho (50%), Estrela do Mar (65%), Coral (35%)
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BM-S-12
MarujaBS-3 area (Brazil) Operator W.I. range Petrobras (35-100%) Working Interest range 35-65% Other Partners Queiroz Galvão (0-15%), Brasoil (0-15%) 1st Prod To be decided Current stage Field Development Planning
Project Status
and ANP regarding:
reclassified as resources, due to delays in project development and lack of a firm gas export solution
book value of USD 48 million on BS-3
alternatively divestment of the project
Kundji pilot program in production testing
6 MKB (Congo) Operator SNPC - Congo National Oil Company (60%) Working Int. 20% Other Partners PetroCI (20%) 1st Prod 2010 test production Current stage Pilot project ongoing
KUN‐4bis, KUN‐5, KUN-201, KUN-204 and KUN-205
currently closed to allow for pressure build-up
seismic acquisition program over Kundji field
Large gas, condensate and oil discovery
Aje (Nigeria) OML 113 Operator YFP Participating Interest 6.502%* Other Partners Vitol, Jacka Resources, Chevron 1st Production TBD Current stage Field Development Planning 7
* 16.255% paying interest, 12.19% revenue interest
water depth 100-1,500 meters, 24 km from coastline, close to Lagos and West-Africa Gas Pipeline
new PSDM data
appraisal well, followed by a potential fast-track oil development
commence shortly
approval
MKB
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9 Dussafu (Gabon) Exploration portfolio Operator Harvest Natural Resources (66.67%) Working Interest 33.33% Other Partners No others Current stage Exploration
Large exploration license with multiple discoveries and prospects
Key Facts
salt trend of the Congo Basin
Tortue (2013) demonstrate our recent success in identifying oil-bearing structures
numerous additional leads and prospects identified on 2D and 3D Project Status
formations
future exploration activity
part of the Dussafu permit
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and M’Bya sandstones
– 24 wells within the Dussafu Permit including 5 discoveries:
– Good Seismic coverage and plan for more
Pre-SDM ) and new prospect portfolio now defined for drilling.
2008 – targeting the Syn-rift
600 MMbbl
reservoir
550m as well as finding other stacked sands with oil shows.
similar fluid level to that encountered in the main hole
the range of discovered resources
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southern Gabon is a proven hydrocarbon system
identify structures at Gamba level
pre-Salt
structures identified in the area, and confirmed Dentale potential
fairway further outboard on present license and out into the deep-water (License round later this year )
Continent Breakup creates fluvial and shallow marine environment followed by Salt deposition
after Lawver et al, 2002
North Africa / North America Atlantic opening Salt basin formed South Atlantic
Salt basin formed Marine conditions
Aptian (Mid Cretaceous) 120 Ma Bajocian (Middle Jurassic) 170 Ma
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Shallow marine environment creates overlying Carbonate buildups
Albian (Mid Cretaceous) 110 Ma Turonian (Late Cretaceous) 90 Ma
after Lawver et al, 2002
Marine conditions in South Atlantic Initial strike slip movement on transform margin Widespread anoxic conditions in Atlantic basins with important source rock and deep water gravity flow reservoir development
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Interbedded Halite / Sylvite and
hydrocarbon in this area
Sequence of shales and silts providing secondary seal
High quality shallow marine sands
Fluvial sands subcropping Gamba formation
Reservoirs
Lacustrine deposit rich in type III organic matter lying within
area Good migration pathway to reservoirs via extensional faults in syn rift sequence
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Seal Source
Upper Madiela – Limestones and dolomites with highly variable velocity Middle Madiela – Salt growth section, highly variable thickness, greater clastic content Lower Madiela – locally absent carbonate dominated High impedance contrast at Madiela boundaries generates multiple
Interbedded Halite, Sylvite (Potash) and occasional Anhydrite Mobilised into Pillows, Diapirs and Piercements Potash is more mobile than Halite Potash beds give strong intra-salt reflectivity Top salt generates strong multiple
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Well Name Companies Spud Date Content Target Crabe Marine 1 SHELL 1968
Basal sandstone Unio Marine 1 SHELL 1973 dry Madiela Mytilus Marine 1 SHELL 1974 dry Madiela Aulica Marine 1 SHELL 1975 dry Madiela Gulf Mayumba C 1 GULF 1975 gas Barremian Gulf Mayumba B 4 GULF 1975 dry Barremain Gulf Mayumba D 1 GULF 1977 dry Barremian N'Kawa Marine 1bis ELF 1977
Madiela Gulf Mayumba C 2 ELF 1979 dry Neocomian Moubenga Marine 1 ELF 1981
Dentale Koho Marine 1 ELF 1981
Melania Likimi Marine 1 ELF 1981 dry Melania N'Dindi C A Marine 1 ELF 1983 dry Basal sandstone N'Kawa Marine 2 ELF 1983 dry Madiela N'Dindi C B Marine 1 ELF 1984 dry Basal sandstone Tchibobo Marin 1 ARCO 1990
Dentale Bougainville Marin 1 ARCO 1991 dry Dentale Hibiscus Marine 1 ARCO 1991 dry Gamba Walt Whitman Marine R1 AMOCO 1996
Gamba Jedi Marine 1 FORCENERGY 1997 dry Gamba Moubenga Marine 2 FORCENERGY 1997
Dentale Dussafu Marine 1 SASOL 2004 dry Dentale Dussafu Ruche Marin 1 DUSSAFU PARTNERS 2011
Dentale Dussafu Tortue Marin 1 DUSSAFU PARTNERS 2012
Dentale Carbonates Inboard Outboard
in 1968 with Shell’s Crabe-1 well, a pre-salt test which found oil in the pre-salt
carbonates and the portion inboard of the hinge pre-salt (basal and lacustrine sandstones)
discovered inboard in 1980. These are now ring-fenced and produced by Perenco
in search of Gamba and Dentale Pre-salt in 1981 with Elf’s Moubenga discovery
and Dentale, and has resulted in two more
Tortue.
Gamba/Dentale play compared to 25% historical success. We believe we have now unlocked the play successfully.
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Outboard Leads – Extending the Pre-salt play
Ruche & Tortue (semi & subsea wells)
structurally in the whole of southern Gabon
potentially larger than seen in the inboard area
Dentale reservoirs
Broader anticlines Multiple Stacked Pre-salt Reservoirs
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SHELL
BC9
SHELL
BC10
TOTAL / COBALT
Diaba
DUSSAFU BLOCK VAALCO GOC GOC GOC
OPHIR PETROBRAS OPHIR PETROBRAS OPHIR PETROBRAS
PERENCO
OPHIR PETROBRAS
MPDC
Discovery 2012 MPDC - postsalt 2 wells 2013 large Presalt structures Presalt well 2013
PERENCO
Presalt drilling 2013 Tortue discovery 2013 Exploration drilling presalt planned
42 OPEN BLOCKS DEEP WATER LICENSING ACTIVITY
3D survey presalt planned 2013 ANADARKO Postsalt drilling 2013 Postsalt drilling 2013
TULLOW ANADARKO SOUTHERN GABON SALT BASIN PRINCIPALLY A PRE-SALT PLAY SOUTHERN GABON SALT BASIN PRINCIPALLY A POST-SALT PLAY
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– Pre-Front End Engineering Studies – Project Execution Plan – Appraisal requirements
– Extend proven Dentale play – 3D seismic acquisition outboard of existing 3D – Mapping of Inboard 3D to generate Gamba and lacustrine/basal sand prospects
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MKB
as a result of high demand from gas- fired power plants
studies in Dussafu in 2013
result of the encouraging discovery in the Dentale formation
Transocean ”Arctic I”
Please visit www.panoroenergy.com for more information