AGM Presentation Cairn Energy PLC 17 th May 2019
Disclaimer These materials contain for orward-lo lookin ing statements reg egarding Cair Cairn, , our our cor orporate pla plans, s, fu futu ture fin financial conditio ion, fu future resu esults of of ope operations, s, fu futu ture bu busin iness s pla plans an and strategies. . All l suc such for orward-lo lookin ing statements ar are e bas based on on our our man anagement's s assu assumptio ions an and be beli liefs in the lig ight of of information avail ilable le to to them at t this s tim ime. These for orward-looking statements s ar are, e, by y their na nature, , su subject to to si significant ri risks s an and un uncertainties s an and act actual l res esults, s, per perfor ormance an and ac achie ievements may be be materially dif different fr from om those expressed in n suc such statements. s. Fac actors that may cause act actual res esult lts, per performance or or ach achievements to to dif differ fr from expectations include, , bu but ar are e no not t limited to to, , reg egulatory ry ch changes, s, fu future levels of of industry try pr product su supply, , dem demand an and pr pric icing, g, wea eather an and wea eather rela elated impacts, war ars an and act acts of of te terroris ism, de development an and use use of of te technolo logy, , act acts s of of com ompetitors an and ot other ch changes to to bu busin iness conditions. s. Cair Cairn un undertakes no no ob obli ligation to to revis ise an any suc such for orward-lo lookin ing statements to to refle lect an any ch changes in Cai Cairn's expectations wit ith reg egard thereto or or an any ch change in n ci circumstances or or events after the da date her hereof. 2 AGM Presentation, 17th May 2019
Introduction Key Achievements in 2018 Production ➢ 17,500 boepd ➢ Generating ~$400m revenues Development ➢ Sanction of Nova field, Norway ➢ Submission of SNE Field Exploitation Plan, Senegal Exploration ➢ Agar discovery, UK North Sea ➢ Addition of new acreage in Suriname, Cote d’Ivoire and Mauritania 3 AGM Presentation, 17th May 2019
Balanced Sustainable Portfolio ➢ Kraken / Catcher Production Norway ➢ Net to Cairn 19,000 bopd to 22,000 bopd in 2019 UK ➢ Nova (first oil 2021) ➢ Net to Cairn Development ~10,000 bopd on plateau ➢ SNE (first oil 2022) Mexico Senegal ➢ Net to Cairn up to ~40,000 bopd on plateau Cote d’Ivoire Suriname ➢ Near term drilling Exploration ➢ Norway ➢ UK ➢ Mexico 4 AGM Presentation, 17th May 2019
Developing Our Discoveries Value Created From Cairn Discoveries NOVA, Norway SNE, Senegal ➢ Development on schedule ➢ Development on schedule ➢ Key contracts: ➢ Fabrication underway Subsea, FPSO and drilling all awarded ➢ Reserves 80 mmboe* ➢ Final Investment Decision H2 2019 ➢ Target Gross plateau production ~50,000 bopd ➢ Phased development of ~500 mmbbls with first oil 2021 ➢ Target Gross plateau production ~100,000 bopd with first oil 2022 SNE Field Subsea Schematic Nova Subsea Schematic * Cairn estimates 5 AGM Presentation, 17th May 2019
Active Exploration Programme 2019 ➢ 6 Wells, 5 Operated Norway ➢ Targeting total gross volume >800 mmboe* ➢ Norway, UK and Mexico UK Ireland 2020 Mexico ➢ Wells in Mexico, Norway and UK ➢ Potential further drilling from recent Mauritania new ventures Nicaragua Senegal Suriname Cote d’Ivoire 2021 Onwards ➢ Future Exploration Opportunities ➢ Ireland, Mauritania , Cote d’Ivoire, Suriname * Cairn estimates 6 AGM Presentation, 17th May 2019
Conclusion Sustainable Value Creation Deliver Exploration and Appraisal Success Portfolio Management Mature Developments Deliver Operational Excellence Sustainable Value Creation 7 AGM Presentation, 17th May 2019
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