Shaping the future o f o il e xplo ratio n and pro duc tio n in Afric a
Se pte mbe r 14-15, 2016 | Oslo, NO
Par e to Oil & Offshor e Confe r e nc e
Shaping the future o f o il e xplo ratio n and pro duc tio n in - - PowerPoint PPT Presentation
Shaping the future o f o il e xplo ratio n and pro duc tio n in Afric a Par e to Oil & Offshor e Confe r e nc e Se pte mbe r 14-15, 2016 | Oslo, NO Why L e ko il? We a re a n indige nous Nig e ria n upstre a m E &P
Se pte mbe r 14-15, 2016 | Oslo, NO
Par e to Oil & Offshor e Confe r e nc e
SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
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We a re a n indige nous Nig e ria n upstre a m E &P c o mpa ny with a fo c us o n We st Afric a
F
e ake ve n
We o pe ne d a world- c lass b a sin with transformational o il a nd g a s po te ntia l
F
Stre ng th to c re a te value thr
SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
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SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
*Acquisition subject to ministerial consent
20.4 mmbls ne t |56.6 mmb ls g ro ss 2P + 2C re so urc e s
65.2 mmbls ne t | 163.0 mmb ls g ro ss, ST OI I P upside
541.8 mmboe ne t | 774.0 mmb o e g ro ss pro spe c tive re so urc e s*
5 - 6 billion boe ST OIIP**
**Third party estimate by Lumina Geophysical
+
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SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
ude e vac uation options
multiple inte r vals
40% wo rking inte re st, 88% e c o no mic inte re st*
*During Cost Recovery
5,703 b o pd
C6
5,484 b o pd
E 1
T e ste d & F lo we d Zo ne s
C5
6,404 b o pd Co mme rc ia l Pro duc tio n Sta rting in the ne xt fe w we e ks
10,000 bopd ste ady state by ye ar
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Ota kikpo We ll – 002 Sto ra g e Ae ria l Vie w – F ra c T a nk 1
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Crude Sto ra g e T a nk 1 20K b b l F ra c T a nks o n F
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Co nstruc te d PI G la unc he r a t E PF
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HDD rig fo r o ffsho re e xpo rt pipe line a t Ota kikpo
SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA PARE
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L ACT units fa b ric a te d in Sug a rla nd, T e xa s (USA)
SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
Afr ic an T r ansfor m Mar gin c o ve ring a re a o f 1,900 km 2
asse t c lose to L agos a nd e xisting g a s
infra struc ture
syn-rift le a ds within the b lo c k
e ko il fa rme d-in to Afre n’ s inte re st in F e b rua ry 2013 a nd
ac quir e d the balanc e of its inte r e st in De c e mb e r 2015
40% wo rking inte re st*, 70% e c o no mic inte re st**
*Subject to ministerial consent **During and post cost recovery
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ge t with e xplor ation upside in o ur pro prie ta ry Da ho me y
Ba sin study
325 is a de e p to ultra -de e p-wa te r b lo c k lo c a te d in the Dahome y Basin o n the we ste rn side o f the Nig e r De lta
62% e q uity inte re st
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SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
Pro duc tio n - Pha se 1
Be gins
E xpa nd Pro duc tio n to 10,000 bpd Ong o ing fa rm-o ut c o nside ra tio n
Se ismic inte r pr e tation c o mple te d
Ministe ria l c onse nt Ong o ing fa rm-o ut c o nside ra tio n Ma inta in Pro duc tio n a t 10,000 bpd
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SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
por ate c itize n
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BLAKENEY
Dire c to rs / Re ta il Othe r
Source: Bloomberg as of September 9, 2016
USA E uro pe Othe r
424,580
30-da y a ve ra g e vo lume
488,199,893
c urre nt sha re s o utsta nding
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SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
T his pre se nta tio n ma y c o nta in fo rwa rd lo o king sta te me nts whic h invo lve sub je c tive judg me nt a nd a na lysis a nd a re sub je c t to sig nific a nt unc e rta intie s, risks a nd c o nting e nc ie s, inc luding tho se risk fa c to rs a sso c ia te d with the o il a nd g a s b usine sse s, ma ny o f whic h a re
E KOI L . I n pa rtic ula r, a ny fo rwa rd lo o king sta te me nts spe a k o nly a s o f the d a te o f this pre se nta tio n, the y a ssume the suc c e ss o f the stra te g y o f L E KOI L a nd the y a re sub je c t to sig nific a nt re g ula to ry, b usine ss, c o mpe titive a nd e c o no mic unc e rta intie s a nd risks. No re pre se nta tio n, wa rra nty o r a ssura nc e (e xpre ss o r implie d ) is g ive n
(inc luding b y L E KOI L , a ny o f its re la te d b o die s c o rpo ra te , dire c to rs,
e mplo ye e s
the ir re pre se nta tive s). I n pa rtic ula r, no re pre se nta tio n, wa rra nty o r a ssura nc e (e xpre ss o r implie d ) is g ive n in re la tio n to a ny unde rlying a ssumptio n o r tha t a ny fo rwa rd lo o king sta te me nt will b e a c hie ve d. Ac tua l future e ve nts ma y va ry ma te ria lly fro m the fo rwa rd lo o king sta te me nts a nd the a ssumptio ns o n whic h the fo rwa rd lo o king sta te me nts a re b a se d . Give n the se unc e rta intie s, re a de rs a re c a utio ne d no t to pla c e undue re lia nc e o n suc h fo rwa rd lo o king sta te me nts, a nd sho uld re ly e ntire ly o n the ir o wn inde pe nde nt e nq uirie s, inve stig a tio ns a nd a dvic e re g a rding a ny info rma tio n c o nta ine d in this pre se nta tio n. Any re lia nc e pla c e d b y a re a de r o n the info rma tio n c o nta ine d in this pre se nta tio n is who lly a t the re a de r's
risk. T he info rma tio n in this pre se nta tio n is pro vid e d fo r info rma tio na l purpo se s o nly a nd do e s no t ta ke into a c c o unt the inve stme nt o b je c tive s, fina nc ia l situa tio n a nd ne e ds o f a ny pa rtic ula r inve sto r. E a c h
E KOI L a nd its re la te d b o die s c o rpo ra te a nd a ffilia te s a nd the ir re spe c tive dire c to rs, pa rtne rs, e mplo ye e s, a g e nts a nd a dvise rs disc laim a ny lia bility fo r a ny dire c t, indire c t
c o nse q ue ntia l lo ss o r d a ma g e s suffe re d b y a ny pe rso n a s a re sult o f re lying o n a ny sta te me nt in, o r o missio n fro m, this pre se nta tio n. Subje c t to a ny c o ntinuing o blig atio ns unde r applic able la ws, L E K OI L disc laims a ny o blig atio n o r unde rtaking to disse minate any update s o r re visio ns to a ny fo rwa rd lo o king sta te me nts in this pre se nta tio n to re fle c t a ny c ha ng e in e xpe c ta tio ns in re latio n to a ny fo rwa rd lo o king sta te me nts o r a ny c ha ng e in e ve nts, c o nditio ns o r c irc umsta nc e s o n whic h a ny suc h state me nts is base d. No thing in this pre se ntatio n shall unde r a ny c irc umsta nc e s c re ate a n implic atio n tha t the re ha s b e e n no c ha ng e in the a ffairs o f L E K OI L sinc e the date o f this pre se nta tio n. Allo the r disc lo sure s as in pre vio us pre se ntatio ns apply.
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F
me r ly the inte r natio nal E ne r gy Se c to r He ad at Allianc e Ber
nstein
E ng ine e ring a nd o pe ra tio na l ro le s within
Sc hlumbe r ge r in a c a re e r tha t spa nne d
Nig e ria , E g ypt, Pa kista n, Oma n a nd Sc o tla nd BSc . in E le c tro nic a nd E le c tric a l E ng ine e ring fro m Ob a fe mi Awo lo wo Unive rsity I le -I fe , Nig e ria (1991); a nd a n MBA fr
Sloan
Me mb e r o f the # 1 I nstitutio na l I nve sto r- ra nke d te a m o f a na lysts c o ve ring the
Dire c to r a t UBS Inve stme nt Re se ar
c h
L e ka n Akinya nmi
E xe c utive Bo a rd Me mb e r, Chie f E xe c utive Offic e r Ove r 25 ye ar s e xpe r ie nc e in the industr y with Oil majo rs and Sc hlumber
ger
F
the wo rld-c lass Bonga fie ld So und ability in building/ le ading dive r se te ams o f varying size s and de live r ing in a pe rfo rmanc e -drive n e nviro nme nt. Has he ld re spo nsibilitie s in Nige r ia, E uro pe , Middle -E ast and Asia
Sa m Olo tu
Chie f T e c hnic a l Offic e r Ove r 35 ye ar s o f e xpe r ie nc e in the industr y with Shell and Agip in a c ar e e r that spanne d lo c atio ns in Nige r ia, I taly, T he Ne the r lands and Oman F
Has he ld var io us se nio r manage me nt po sitio ns (Pro duc tio n Ope ratio ns and Mainte nanc e Manage r, Se nio r Po rtfo lio De ve lo pme nt Manage r and Ge ne r al Manage r Co rpo rate Se c urity)
L e ke Ade dipe
Chie f Ope ra ting Offic e r
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Do tun Ade juyig b e
He a d o f Co mme rc ia l
Co o rdinate s the c o mme rc ial, busine ss and strate gic planning func tio ns at L e ko il inc luding hydr
bo n mar ke ting and suppo r t fo r c o r po r ate financ e func tio ns Wide -r anging e xpe r ie nc e in pr
manage me nt, c o nsulting, pr ivate e quity, and c o r po r ate financ e ac r
ic a, E ur
th and So uth Ame r ic a Ho lds an MBA fr
AD
Awar d winning and le ading Nige r ian e xpe r t in the ge o sc ie nc e s, spe c ializing in se dime nto lo gy, ge o lo gy and ge o physic s 35+ ye ar s o f e xpe r ie nc e in E xplo r atio n Ge o lo gy, at
Shelland mo st r
e c e ntly Head of Geologic al
Ser vic es
Me mbe r
ian Mining and Geologic al Soc iety (NMGS) and a F ellow of the Niger ian Assoc iation of Petr
xplor ationists (NAPE )
e hinde L a dipo
Se nio r E xplo ra tio n Adviso r
Re spo nsible fo r the sho rt-te rm and strate gic funding
e ko il F
me r ly fr
c apital raising and M&A 10+ ye ars o f financ e and inve stme nt banking e xpe r ie nc e at T
he Car lyle Gr
Sahar an Afr ic a; and at JP Mor
gan and Cr edit Suisse
fo c using o n L e ve r age d F inanc e in o il & gas Ho lds an MBA fr
AD
K e ji Aja yi
He a d o f Co rpo ra te F ina nc e
Alfre d Ca sta ne da
He a d o f I nve sto r Re la tio ns
Spe c ialize d in inte rnatio nal o il & gas e quity fund raising at L adenbur g T halmann and R ever e 10+ ye ar s o f e quitie s and c apital mar ke ts e xpe r ie nc e inc luding L ekoil’s 2013 I PO and subse que nt e quity funding Me mb e r o f the # 1 I nstitutio na l I nve sto r-ra nke d Oil Se rvic e s E q uity Re se a rc h te a m a t Morg a n Stanle y fro m 2010-2012 Ho lds a BS in bo th Ac c o unting and F inanc e fr
F
dham Univer sity
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32+ ye ars o f o ilfie ld e xpe rie nc e inc luding wo rking with Dowell Sc hlumber ger in I raq, Abu Dhabi, Ve ne zue la, Canada, Syria, F ranc e and Nige ria F
and Managing Dir ec tor , SOWSCO Well Ser vic es – o ne o f Nige r
ia’s fo re mo st indige no us o il se r vic e fir ms F
T AN (Petr
T ec hnology Assoc iation of Niger ia)
Me mbe r
e mune r atio n c o mmitte e s o f L e ko il
Sa m Ade g b o ye g a
Cha irma n o f the Bo a rd 25 ye ar s+ o il industr y e xpe r ie nc e , qualifie d as a Char
ter ed Ac c ountant with Ar thur Ander sen in 1981
Me mbe r o f the Asso c iatio n o f Co rpo rate T r e asur e r s and the I nstitute o f T axatio n Busine ss De ve lo pme nt Manage r and subse que ntly Gro up T re asure r at E
nter pr ise Oil fo r 11 ye ars
F inanc e Dire c to r o f multiple liste d E &P c o mpanie s, inc luding Pr
emier Oil be twe e n
1999 and 2005 Managing Dire c to r, He ad o f o il and gas, at the R
Wo r ke d as a c o nsultant to , and no n- e xe c utive dire c to r o f, a numbe r o f liste d and private E &P c o mpanie s sinc e 2010 mo st re c e ntly o n the bo ard o f Hur r ic ane E xplor ation Plc
Jo hn Va n De r We lle
Mo st r e c e ntly Chair man of Afr ic a at Sc hlumber ger and was also the Pr esident of the Sc hlumber ger F
c o rpo rate fo undatio n 30+ ye ar s at Sc hlumber
ger
, ho lding se nio r
Pre side nt and Glo bal T re asure r, and Managing Dir e c to r fo r Nige r ia and We st Afr ic a Co -fo unde r o f the Petr
agos
and se rve s o n a numbe r o f bo ards inc luding
Guar anty T r ust Bank plc and the
Sc hlumbe rge r F
Ho lds a BSc in Ac c o unting fro m the U nive r sity
d Univer sity; alumnus o f the Oxfor d Institute for E ner gy Studies
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SHAPI NG T HE F UT URE OF OI L E XPL ORAT I ON & PRODUCT I ON I N AF RI CA
Glo bal he ad o f the Abu Dhabi Investment Author ity’s inte r nal e quitie s de par tme nt
due -dilige nc e pr
F
Manag e r at Allianc e Ber
nstein, manag ing multi-billio n
do llar po rtfo lio s in Glo bal and I nte rnatio nal L arge Cap Gro wth E quitie s Chie f E xe c utive Offic e r & Chie f I nve stme nt Offic e r o f Allianc e Capital Management, So uth Afr ic a whe r e he c r e ate d and manage d the busine ss and gre w asse ts to U S$2 billio n unde r manag e me nt
Gre g o ry E c ke rsle y
Gro up CE O o f Asset Management Gr
(AMG) L imite d L e gal prac titio ne r with an L L .M (Public I nte rnatio nal L aw) fro m Kings College,
Univer sity of L
Administratio n (MBA) with a distinc tio n in F inanc e fro m Imper
ial College, Univer sity
Calle d to the Niger ian Bar Assoc iation in 1989. Co mple te d se ve r al attac hme nts with the fo llo wing: Caisse Prive e Banque , Brusse ls; Banque Rivaud, Paris; Banque Prive e , Ge ne va
Aisha Mo ha mme d-Oye b o de
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