TAQA Bratani Building on maturity A case study for the UKCS Rob - PowerPoint PPT Presentation

TAQA Bratani – Building on maturity A case study for the UKCS Rob Kuyper, Development manager, TAQA Bratani

Bratani Maximise Production Exploration Third Party Business Acquisitions Presentation messages • Still significant volumes left in UKCS reservoirs ‒ Infill drilling, discoveries, near-field potential, yet-to-find ‒ infrastructure timeline does not allow delay in development • “Just do it!” ‒ opportunities get smaller ‒ remaining opportunities need swift decisions and nimble organisations • Back to basics ‒ developing mature/ small fields needs old fashioned quality thinking to ensure profitability CASE STUDY: TAQA BRATANI

Bratani Maximise Production Exploration Third Party Business Acquisitions Abu Dhabi National Energy Company PJSC (TAQA) • 72.5% Government owned • Listed on ADX • USD 31.6 billion asset base • Strategic focus on ‒ Oil & Gas - 135 MMBOE/D ‒ Power & Water - 6th largest independent power producer in the world • Geographically diversified

Bratani Maximise Production Exploration Third Party Business Acquisitions TAQA Bratani • Operated (100%) - North Cormorant - South Cormorant - Tern - Eider - Pelican - Brent System • Non operated (17% - 24%) ‒ Brae ‒ Hudson ‒ Sullom Voe Terminal • Provides work for 1000 people

Bratani Maximise Production Exploration Third Party Business Acquisitions Building the business • Secure access to capital and create the opportunity • Build a strong leadership team • Attract the best engineers • Create the TAQA way and culture • Establish TAQA as a competent operator

Bratani Maximise Production Exploration Third Party Business Acquisitions Mature asset strategy • Make it Safe • Make it Work • Make it Grow The Challenge how to bring 20 – 30 year old fields back to economic production

Bratani Maximise Production Exploration Third Party Business Acquisitions Mature asset strategy • Make it Safe ‒ Asset integrity • Make it Work • Make it Grow

Bratani Maximise Production Exploration Third Party Business Acquisitions Mature asset strategy • Make it Safe • Make it Work ‒ Platform availability ‒ Barrel chasing • Make it Grow Shift operational focus from “oil production” to “water injection”

Bratani Maximise Production Exploration Third Party Business Acquisitions Mature asset strategy • Make it Safe • Make it Work • Make it Grow ‒ Infill drilling • Platform • Semisubmersible ‒ New technology • EOR • Advanced well engineering

Bratani Maximise Production Exploration Third Party Business Acquisitions Exploration • Develop expertise • Seismic data • Near field developments ‒ Falcon field • Licensing Round

Bratani Maximise Production Exploration Third Party Business Acquisitions Third Party Business • Build reputation and track record • Look after our installations maximise uptime • Become an attractive partner • First third party business signed earlier this month

Bratani Maximise Production Exploration Third Party Business Acquisitions Acquisitions • Strategic acquisitions help extend field life – Otter • Appraise further transformational acquisition opportunities

Bratani Maximise Production Exploration Third Party Business Acquisitions In summary… • Still significant volumes left in UKCS reservoirs ‒ Infill drilling, discoveries, near-field potential, yet-to-find ‒ infrastructure timeline does not allow delay in development • “Just do it!” ‒ opportunities get smaller ‒ remaining opportunities need swift decisions and nimble organisations • Back to basics ‒ developing mature/ small fields needs old fashioned quality thinking to ensure profitability