macquarie oil & gas explorers conference · current exploration portfolio miran east 75% wi m 4...

$: Macquarie Oil & Gas Explorers Conference · Current exploration portfolio Miran East 75% WI M 4 currently testing. GENELCS\Presentations\120223_Capital Markets Day\12 Capital Markets$
GENELCS\Presentations\120223_Capital Markets Day\12 Capital Markets Day Presentation (EM 20120213).pptx

104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

A New Force in E&P

Macquarie Oil & Gas Explorers Conference

January 2013


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours Kurdistan Region of Iraq (KRI)

Material prospects remain: Taq Taq Deep, Tawke Deep, Chia Surkh, Deep Miran

Screen for new assets

Establish high impact African exploration portfolio

Balance to KRI portfolio

Diversify political risk

Material value creation

Screening criteria

Focus on material exposure to 3 or 4 hydrocarbon systems

Material prospects (>250mmbbls) and material equity

Target 5 high impact exploration wells per annum

Leverage Turkish roots

EXPLORATION STRATEGY

2


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

3

IRAN

KRI EXPLORATION PROGRAMME

IRAQ

Peshkabir 25% WI

Evaluation and 3D seismic

acquisition ongoing

Tawke Deep 25% WI

Result T-17 1Q 2013

Ber Bahr 40% WI

Side track to re-test oil

zone: 1Q 2013

Taq Taq Deep

44% WI

Spud TT-22 1Q 2013

Chia Surkh 60% WI

CS-10 spud Oct 2012

results 1Q 2013

Miran Deep 75% WI

Deeper exploration M 7 spud 4Q 2013

Legend – Genel Energy Blocks

Exploration wells

Current exploration portfolio

Miran East 75% WI

M 4 currently testing


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

4

W E

Top Jeribe Mıocene

Top Eocene

Top Cretaceous

Top Jurassic

Top Triassic

Proven OWC Cretaceous

Spill

Tawke 17 (Deep)

TAWKE DEEP

Genel 25% working interest, DNO operator

Deep Jurassic-Triassic test below proven Cretaceous oil field

Jurassic oil and Triassic gas prospectivity

Spudded 3Q 2012, results 1Q 2013

200mmbbls gross unrisked mean prospective resources with 36% POS (McDaniel 2011)

S N Tawke 17 (Deep)

Dip Section

Strike section

Spill


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

5

SW NE

Top Jurassic

Top Triassic

Taq Taq 22 (Deep)

Top Cretaceous

Top Jurassic

Top Triassic

TAQ TAQ DEEP

Genel 44% working interest, TTOPCO operator (Genel 55%)

Deep Jurassic and Triassic targets

Jurassic oil and Triassic gas prospectivity

250mmboe gross unrisked mean prospective resources with 40% POS (McDaniel 2011)

Taq Taq Deep well to spud 1Q 2013 will have an estimated TD c.5,000m in the Triassic


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

6

Genel 60% working interest, operator

First exploration well (Chia Surkh 10) spudded on 7 October 2012, TD 2,500m, Miocene – Paleocene test

Two other leads Qalami and Barda Sur

300mmboe gross unrisked mean prospective resource with 31% POS (McDaniel 2011)

Chia Surkh-10 testing 72mmbbls gross unrisked prospective resource with 44% POS (McDaniel 2011)

CHIA SURKH


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

Genel 75% working interest, operator

Existing Miran field 3.75 tcf of gross mean contingent and

prospective resource (RPS 2012 report)

New deeper prospectivity identified with 4.0 tcf gross unrisked

mean prospective resource (Genel management estimates)

7

MIRAN DEEP EXPLORATION POTENTIAL

Near Top Permian Closure

(Max) 58 sq. km

Line B

Line A

Max Area of

Closure: 58 sq. km

Near Top

Permian Map

Near Permian

Near Triassic

Jurassic

Existing

Miran gas

field

NE Line B SW

Near Permian

Near Triassic

Jurassic

SE Line A

Existing

Miran gas

field

NW


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

EMERGING AFRICAN EXPLORATION PORTFOLIO

8

South Africa

Namibia

Angola

DRC

Tanzania

Ethiopia

Sudan

South

Sudan

Chad

Algeria

Nigeria

Eq. GGabon

Congo

Mauritania

CoteD’Ivoire

GhanaS.L.

Senegal

Cameroon

NigerMali

EgyptLibya

Zambia

Botswana

Zimbabwe

Kenya

C. African Rep

Guinea

Burkina Ben

inT

og

o

Tu

nis

ia

Morocco

Juby Maritime (37.5%; Cairn

operator)

Sidi Moussa (60%; operator)

Mir Left (75%; operator)

14,600 sq km total

Cote d’Ivoire

Block 508 (24%; Vitol operator)

1,000 sq km total

NW Africa: Jurassic Carbonate

and Cretaceous Fan Play

Offshore S. Malta: Sirte Basın

Libya Analogues

Area 4: Blocks 4,5,6 & 7 (75%; MOG operator)

5,700 sq km total

Somaliland:

Mesozoic Rift

SL-10B & SL-13 Block

(75%; operator)

SL-6,7&10A (50%;

operator)

40,300 sq km total


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

MOROCCO – EXPLORATION THEME

9

Proven petroleum system in offshore Morocco

associated with Jurassic carbonates analogous

offshore Canada:

Juby Maritime block

Contains Cap Juby oil discovery + upside; drill

ready

Several leads

Sidi Moussa block

Drill ready Nour prospect

Additional prospects

Mir Left block

3D commencing

Several large leads

In addition submarine fan play

Drilling

Juby Maritime 1-2Q 2014

Sidi Moussa 1-2Q 2014

Mir Left 2H 2014

Carbonate Margin

Note: Resource and POS numbers are Genel Energy management estimates.


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

Cap Juby

MOROCCO – APPRAISAL & EXPLORATION OPPORTUNITIES

Cap Juby appraisal and exploration

MO-2 oil discovery drilled in 1968 by Esso flowed 2,400bopd

Middle Jurassic oil column untested

Prospect size: 250mmbls, POS 33%

Juby Maritime exploration

Numerous carbonate play types

Leads: 150-200mmbls prospects, average POS 20%

Sidi Moussa and Mir Left exploration

Cap Juby analogue, Jurassic carbonate fault block

Main prospect sizes: 200mmbbls, POS 20%

10

Cap Juby discovery

Juby Maritime exploration Sidi Moussa

Appraisal

Exploration

Line 83MMO-09

Line 83MMO-09

WE

Platforms Fans


MO-2 / Cap Juby-1

MO-8

Cap Juby

Nour

40sq km

~50 sq km


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

Proven petroleum systems with three main

potential field size ranges in the three main

plays:

Submarine fans: 150-500mmbbls

Main risk: reservoir presence and

identification

Albian tilted fault blocks: >250mmbbls

Main risk: seal integrity

Diapirs (local to CI): 100mmbbls

Main risk: reservoir

Total gross prospective resources of

300mmboe with POS 15%

Work programme

3D seismic acquisition underway,

processing to complete in 1Q 2013

First exploration well 1H 2014

COTE D’IVOIRE LICENCE INTERESTS

11

Mid Cretaceous submarine

fans Jubilee Field Ghana


Mid Cretaceous

submarine fans on 3D

seismic Block CI-513 to east

Albian tilted fault blocks


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

MALTA – GEOLOGICAL CONTEXT

Intisar Field

Ashtart Field

(Metlaoui trend)

Steppanosa Basin

(Triassic / Jurassic)

Melita-

Medina

Graben

Sirte Basin

Medina

Escarpment

Sirte rise

Area 4 Petroleum Context:

Mid-Cretaceous rift- Melita Graben

superimposed on Triassic Graben

Early Tertiary carbonate platforms

similar to Metlaoui & Intisar

Working petroleum system

Total estimated gross prospective

resources 800mmboe

Spud Hagar Qim ~250 mmbbls max

wıth POS 20% 4Q 2013

Haqar

Note: Genel farm-in pending Maltese Government approval and

resource estımates Genel management estımates.

Hagar Qim: First well late 2013

12


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

SOMALILAND – BASIN PETROLEUM CONTEXT

13

Jurassic/Cretaceous rift – Yemen analogue

40,000 sq km acreage position

Proven petroleum system – many seeps

2,000 mmboe prospective resources with POS 15% in both blocks

Yemen analogue 5 discoveries above 700mmbbls

NW SE



104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

EXPLORATION DRILLING PROGRAMME

14

Assets W.I. Country

Gross

Unrisked

Prospective

Resources

(mmboe)

Net Unrisked

Prospective

Resources

(mmboe)

H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015

Gross

Unrisked

Resource

Prospect

(mmboe)

Net

Unrisked

Resource

Prospect

(mmboe)

PoS

Juby

Maritime 38% Morocco 800 300

250 95 33%

200 75 20%

Sidi

Moussa 60% Morocco 850 500 200 120 20%

Mir Left 75% Morocco 750 560 200 150 20%

Block 508 24% Cote

d’Ivoire 300 70 300 70 15%

Area 4 75% Malta 800 600

250 190 20%

300 225 15%

10B&13

6,7&10A 75%

50% Somaliland 2,000 1,250 2,000 1,250 15%

CS - 10 &

11 60% KRG 305 183 72 43 31%

Tawke

Deep 25% KRG 213 53 213 53 36%

Taq Taq

Deep 44% KRG 248 109 248 109 40%

Miran Deep 100% KRG TBC TBC TBC TBC TBC


104

126

147

92

144

168

183

182

180

206

209

224

181

190

221

Charts

28

105

129

17

73

89

141

188

35

84

156

178

Other

colours

APPENDIX - GENEL ENERGY RESERVES AND RESOURCES

15

2P 3P 2C

Unrisked

Prospective

Working

Interest 2P 3P 2C

Unrisked

Prospective PoS

Risked

Prospective

mmboe mmboe mmboe mmboe % mmboe mmboe mmboe mmboe % mmboe

Producing assets

Taq Taq 647 1,042 - - 44% 285 458 - - -

Tawke 734 876 25 - 25% 184 219 6 - -

Total 1,381 1,918 25 - 468 677 6 - -

Development assets

Miran - - 696 252 75% - - 522 189 49% 92

Bina Bawi - - 750 - 44% - - 330 - - -

Total - - 1,446 252 - - 852 189 92

E&A Portfolio

Taq Taq Deep - - - 248 44% - - - 109 40% 44

Tawke Deep - - - 213 25% - - - 53 36% 19

Chia Surkh - - - 306 60% - - - 183 31% 57

Peshkabir - - 85 341 25% - - 21 85 42% 36

Dohuk - - 102 - 40% - - 41 - 39% -

KRI Total - - 187 1,108 - - 62 431 155

Juby Maritime - Cap Juby - - - 250 38% - - - 94 33% 31

Juby Maritime - Exploration - - - 550 38% - - - 206 20% 41

Sidi Moussa - - - 850 60% - - - 510 20% 102

Mir Left - - - 750 75% - - - 563 20% 113

Cote d' Ivoire - Block 508 - - - 300 24% - - - 72 15% 11

Somaliland - Block 13/10B - - - 1,000 75% - - - 750 15% 113

Somaliland - Block 6,7&10 - - - 1,000 50% - - - 500 15% 75

Malta - Area 4 Cretaceous - - - 250 75% - - - 188 20% 38

Malta - Area 4 Tertiary - - - 600 75% - - - 450 15% 68

Total Africa - - - 5,550 - - - 3,332 590

Total E&A - - 187 6,658 - - 62 3,763 745

Total 1,381 1,918 1,658 6,910 468 677 920 3,952 837

Gross Resource Net Resource

macquarie oil & gas explorers conference · current exploration portfolio miran east 75% wi m 4...

Documents