PDO Overview Budapest Energy Summit Women in Energy Conference Haifa Al Khaifi - PDO Finance Director December 2018 1
P D O V i s i o n To be Renowned and Respected for the Excellence of our People and Value we Create for Oman and all our Stakeholders. 2
R e g i o n a l C o n t e x t • African, Indian and Eurasian plates meet the Arabian plate in close proximity to Oman • “ Crumple Zone ” effect • Results in smaller field sizes • Diverse reservoir properties: ▪ Age: 100 – 545 mln years ▪ Depth: 500 – 5,000 mss ▪ API: 13 ° – 48 ° ▪ Wide permeability range 3
P D O D i m e n s i o n s : Ke y F a c t s Number of producing oil fields 178 Number of active wells >10,000 Number of production stations 21 Pipelines & Flowlines (km) >18,500 Number of Drilling Rigs/Hoists 46/35 Number of wells drilled (2017) 626 Permanent Camps 7 Road System (km) >6,500 Number of Power Gen Units 29 Kilometres Driven (2017) 314.1 mln Manhours Worked (2017) 224.9 mln Distance drilled (2017) 1,141 km 4
S u s t a i n a b l e d e v e l o p m e n t i n & b e y o n d P D O C o n c e s s i o n a r e a More Sustainable oil Positioning for the Staying the course and gas Future ▪ Deliver optimum ▪ Drive efficient ▪ Creating more value in the face of energy use in all sustainable value low oil prices and aspects beyond oil and gas production restrictions 5
C r e a t i n g Va l u e f o r t h e N a t i o n Exploration Production Operations Project Delivery ▪ Production 2,150 ▪ Lean: US$1.2 bln ▪ Mega Projects ▪ Oil production: b/d (130% of drill value 582,196 b/d ▪ Record: Hawqa spend) ▪ Condensate: ▪ Local Mtc EDF in 60 weeks ▪ CCR oil 62 MMb 86 yrs saving 68,467 b/d ▪ FEED & Project CCR Gas 0.35 Tcf ▪ Drilled 626 wells & ▪ Gas: Capability ▪ Mabrouk NE 21,000 interventions 78.64 Mln m 3 /d 6
L e a d i n g t h e w ay i n E O R EOR PROJECTS & TRIALS EOR SUCCESS ➢ Major EOR field developments : PROJECT TYPE EOR Development ▪ Marmul Polymer, Qarn Alam and Amal Steam, Harweel Miscible Gas Injection. EOR Pilot in Execution ➢ 22 EOR projects/pilots/concept Lekhwair DEW Thermal Fahud PDO’s EVOLVING (EOR) PORTFOLIO Chemical Qarn Alam Miscible Gas Injection 2025 2018 Al Ghubar S 10 Thayfut Habhab 23 34 Al Noor 38% Nimr 52 Primary 43% Harweel Secondary Amin Tertiary Amal W Marmul Polymer, -ASP 7 & Produced Polymer Treatment
U N G C & P D O S u s t a i n a b i l i t y R e p o r t ▪ PDO joined UN Global Compact Jan 2015 | Committed to 10 universal principles ▪ First national upstream oil company in Gulf to join ▪ Currently only Omani company member ▪ Global Reporting Initiative (GRI) sustainability accreditation (Mar 2017) Company ’ s 4 th Sustainability ▪ Report published (April 2018) 8
N i m r R e e d B e d s : a g r e e n a p p r o a c h t o w a t e r t r e a t m e n t 300k 140 115k m 3 /d produced water Tonnes of CO 2 Species of reduction per annum birds/animals recorded 9
Be hind the Miraah Solar Project 2015 Construction Start 36 6,000 tons 3km 2 Glasshouses Daily Steam Project Area 2017 First Steam 10
B u s i n e s s D e v e l o p m e n t O p p o r t u n i t i e s Leveraging PDO strengths beyond our concession area 11
N ew F ro n t i e r s Bio-saline Crops PV Solar Panels Energy Efficiency Zero Gas Flaring 12
P D O : P o s i t i o n e d f o r S u c c e s s i n t h e E n e r g y Tr a n s i t i o n 13
M a n a g i n g D i re c t o r ’s C o m m i t t e e 14
Thank you 15
S t r a t e g i c P r i o r i t i e s : “ S t ay t h e C o u r s e ” Strategic Priorities ▪ Sustainable production – from 550 kb/d … to 600kb/d … now towards 670 -680 kb/d ▪ Act as country’s swing producer, meeting Government gas demand ▪ Reserves Replacement >1 ▪ Generate strong revenues, create new value streams ▪ National value: Support economic diversification & develop Omani Talent & Businesses Responses: Challenges: Maximise Production/Value ▪ Increasing complexity ▪ Minimise Expenditure ▪ Capital Intensity ▪ Continuous Business Improvement – Lean ▪ Evolving energy markets ▪ Economic fundamentals/funding constraints ▪ Energy/Renewables & Water ▪ Management Local employment ▪ Step-up In-Country Value programme ▪ 16
R o b u s t D e l i v e r y, E x c e e d i n g E x p e c t a t i o n s 2017 average oil production: 582,196 bpd 700 Oil Production (kbbls/d) 600 500 Actual PB10 PB14 400 PB17 PB18 300 2010 2015 2020 2025 2030 Sustainably grow oil production 17
LEAN Management LEAN Tools ▪ Goal deployment ▪ Leader standard Work ▪ Performance Visuals External LEAN Roll-out The bottom line 2016-2017: 8,300 3,500 Additional Value, Cost Reductions & Avoidance: $1.2 bln generated implemented Staff Efficiency: 242 FTE 18
N e w Te c h n o l o g y : A Ke y E n a b l e r Pitless Drilling Technologies tested 90% success rate in the last 3 years. BLADE 19
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