ShaMaran Petroleum Ltd. · OSL:SNM
ShaMaran Petroleum — Investor Presentation (September 2013)
14 slides from ShaMaran Petroleum's investor presentation, September 2013
Slide 1: Corporate Presentation
Corporate Presentation Stockholm, September 2013
Slide 2: Investment Highlights
Investment Highlights 2 » E&P company in the Lundin Group active in the Kurdistan region of Iraq » USD 325 million market capitalization – 19.8% controlled by Lundin family » Atrush – Ownership in one major oil field undergoing development/appraisal » Kurdistan – A key focus area for international c
Slide 3: Kurdistan Maintaining Forward Momentum
Kurdistan Maintaining Forward Momentum 3 » Continued interest in the region. Erbil tagged as the “Exploration Capital of the World”. Kurdistan » Activity level in country remains high: » Super majors/ Turkish companies sign new contracts » Steadily rising production capacity » KRG/Baghdad relationsh
Slide 4: Developing Regional & International Export Pipelines
Developing Regional & International Export Pipelines 4 » Pipeline from Taq Taq to Khurmala Dome (North Kirkuk field) completed. » Khurmala to FishKabur (tie in point in Turkey) pipeline nearing completion. Initial planned capacity 300,000 BOPD by the end of the year. » Khurmala to FishKabur pipeline
Slide 5: Atrush: A World Class Oil Discovery
Atrush: A World Class Oil Discovery 5 » Significant oil column: over 800 meters at the crest of the structure » Atrush-1 Jurassic “BSAM” (Barsarin-Sargelu- Shaikan Alan-Mus) discovery announced in April 2011. » Atrush-2 extension of oil column to Jurassic Adaiyah & Butmah and confirms high well deli
Slide 6: World Class Asset in Atrush – On Track to First Production
World Class Asset in Atrush – On Track to First Production 6 » Atrush – Appraisal drilling and Development to first oil in progress: Declaration of Commerciality made in November 2012 Field Development Plan submitted to KRG in May 2013: » Phase 1: 30,000 bopd (gross) facility to commence production
Slide 7: Atrush Well Tests In Context
Atrush Well Tests In Context 7 » AT-3 provides deepest known oil to date (AT-3 DST2) by 180m in the “BSAM”. » Remaining uncertainty on the FWL/OWC narrowed to a 90m interval (AT-3 DST2 & DST3). » No water yet encountered in the “BSAM” section. » AT-3 DSTs confirms the compositional (viscosity) oil g
Slide 8: Atrush-4 development well
Atrush-4 development well 8 AT-4 » High angle appraisal/development well targeting the undrilled crest of the structure (“BSAM” & Butmah). » Spudding Q3/Q4 2013, to be drilled from the AT-1 pad at a hole angle of 70 degrees (on account of topographic challenges that limit the number of available rig
Slide 9: Atrush Jurassic Oil Discovery – Resource Base YE 2012
Atrush Jurassic Oil Discovery – Resource Base YE 2012 9 Gross Contingent Resources* Low Best Mean High (Jurassic: Barsarin, Sargelu, (1C) (2C) (3C) Alan-Mus, Adaiyah, Butmah) - MMBOE YE 2011 275 465 513 813 YE 2012 404 627 668 982 Change YOY +46% +35% +21% +30% Discovered Petroleum 1843 2686 2823 39
Slide 10: Atrush: Phase 1 Development Summary
Atrush: Phase 1 Development Summary 10 » Modular facility capable of handling 30,000 BOPD (gross) upon start up in 2015: » Crude processing and water treatment facilities » Gas Sweetening (Amine unit) and gas power generation » Provisions for future sulphur recovery, power generation, etc. » Oil Sto
Slide 11: Overall FDP Philosophy
Overall FDP Philosophy 11 West-Central Production Facility East Production Facility Proposed Terminal Atrush Block (Tanker Loading & Pipeline) 0 KM 4 Atrush field development will be implemented using a phased, modular, expandable, and value accretive process. Development will be initiated on the Ce
Slide 12: Strategy
Strategy 12 » Focus technical and financial resources on the Atrush field » Prioritize Phase 1 Development of the Atrush field » Project to be self-funding from first oil » Continue Atrush Development through Phases 2-4 (2015-2017)* » Delineation drilling to evaluate upside potential *detailed forwa
Slide 13: Atrush - Contractor Group
Atrush - Contractor Group 13 » Abu Dhabi National Energy Company (TAQA) purchased Aspect Energy International’s interest in General Exploration Partners Inc. (GEP) at end of 2012 and became the new operator » GEP was a JV between Aspect and ShaMaran » ShaMaran now owns 100% of the remainder of GEP »
Slide 14: Executive Summary
Executive Summary 14 » Atrush - a World Class oil discovery » Atrush Field declared commercial in 2012 » Appraisal & development plans in place (FDP submitted May 2013) » Strong Joint Venture group with TAQA as Operator and Marathon as partner » 30,000 bopd (gross) First Phase Production in 2015 » S
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