CORPORATION Presents Understanding Egypt. 5. Exploration Overview. June 16, 2010

Transcription

1 CORPORATION Presents E G Y P T Understanding Egypt 5. Exploration Overview June 16, 2010

2 Exploration Overview: Why, What, Where 47

3 Creaming Curve Basics Play maturation after 48

4 Gulf Of Suez Discovery Rate Total resource discovered 10.5 BBOE Production 403 Mboed* *Source: Woodmac 49

5 Western Desert Creaming Curve (STOIP) Total resource discovered ~10 BBOE 12,000 10,000 Shell Obaiyed Field 2.4 TCF gas in-place Apr-1992 Apache Qasr Field 3.5 TCF gas in-place 120 MMBBL condensate Jul-2003 MM MBOE 8,000 6,000 4,000 Phillips Alamein Field 208 MMBOE in-place Nov-1966 After 73 War Exploration shifts to Gulf of Suez 2009 Production 418 Mboed* 2,000 Apache Enters Egypt 0 Sources: *Source: Woodmac IHS Probe, Western Desert Oil & Gas Fields (EGPC, 1992) and Apache Egypt 50

6 Why Explore The Western Desert? 12,000 10,000 GULF OF SUEZ MATURE PLAY MM MBOE 8,000 6,000 4,000 WESTERN DESERT 2,000 0 Creaming Curves (STOIP) 51

7 Apache Egypt Gross Resource Potential Summary Reservoir Existing Fields REM All Identified Exploration Prospects Assessment Areas Possible Total Potential MMBOE Abu Roash Bahariya-Kharita AEB-Alamein Jurassic ,780 TOTAL 1, ,959 3,482 Western Desert 52

8 3D Seismic Coverage 3D Seismic Database in Egypt covers 12,740 sq. miles Larger than Massachusetts and Rhode Island combined 53

9 Apache Drilling Results vs Cumulative 3D Seismic Km2 3D Seismic Producer Dry Hole Nu umber of Wells (annu ual) Cumulative Area (km m2) Apache s seismic acquisition program has fueled the drilling program and increased the success rate 54 0

10 Western Desert Wildcats Wells 110 Discoveries APACHE ( ): 2010): 46% of Wildcats Drilled 50% of Discoveries Made

11 Apache Egypt Wildcat Results by Year 35 Success Rate Since 2004 = 50% (145 Wells Drilled) 70% 30 60% 29 60% # Wells % % 25 40% 48% 48% % 50% 40% 30% 10 20% 5 10% June 2010* Wildcats Success Rate 0% 56

12 Apache Egypt New Gross Reserves by Play Total = 1,442 MMBOE WD = 1,050 MMBOE MMB BOE AR/Bah/Khar Upper AEB Lower AEB U & L Safa Nile Delta 40 Western Desert 57

13 Apache s Advantages in the Western Desert Extensive Production Infrastructure Extensive 3D Seismic Coverage Joint Venture Companies In Place Ability to Drill & Complete Wells Quickly Low Operating Cost Production Technical Expertise Yields High Drilling Success Rate 58

14 Major Factors in Success Stacked pay objectives Excellent acreage position 3D Seismic coverage (~35,000 km 2 ) Frac technologies & water floods Shushan Matruh Aggressive drilling campaigns Faghur Matruh Basin Shushan Basin Faghur Basin 25 km 59

15 Understanding the Quarry PRIMARY TRAP TYPES CRETACEOUS AND JURASSIC WESTERN DESERT FAULT TRAPS FDUT NORMAL FAULT FDDT 4WAY STRAT FAULTED 3WAY SPILL POINT 60

16 4WAY Trap Phiops Field, S. Umbarka & Sushan Concessions Spill Point Spill Point 61

17 FDUT (Fault Dependent Upthrown) Trap S N Samaa Prospect, Samaa-1X Matruh Concession TEST JURASSIC MAY, 2010 TOTAL FLOW RATE 44 MMCFD BCPD 62

18 FDDT (Fault Dependent Downthrown) Trap Buchis Downthrown Prospect, Khalda Offset Concession Buchis Downthrown Lower Safa AEB 1 AEB 3A AEB 3D Target AEB 3D Masajid Safa Target Spill Point Lr Safa 63

19 STRAT Trap LARGE FEATURES with LARGE RESERVE POTENTIAL HIGH POTENTIAL / MORE UNCERTAINTY RESERVOIR PRESENCE IS KEY RISK REQUIRES HIGH QUALITY SEISMIC AND SUBSURFACE CONTROL Kalabsha Faghur Basin Area Strat Plays 64

20 2010 Exploration Program Summary 53 wildcats and appraisal wells planned Focus on oil and condensate: Faghur Basin Play (AEB and Jurassic oil) Matruh Basin Play (AEB & Jurassic oil & gas) Abu Gharadig Basin Play (Bahariya oil) Beni Suef Basin Play (Abu Roash and Bahariya oil) Return to aggressive 3D seismic acquisition with 3,775 Km2 planned in five surveys across 10 concessions Mapping on 2,220 Km2 of new 3D seismic acquired in 2009 to replenish prospect inventory 65

21 2010 Exploration Drilling Plan Programs FAGHUR OIL JURASSIC STRAT TRAPS MATRUH GAS/LIQUIDS ABU GHARADIG OIL BENI SUEF OIL 66

22 2010 Exploration Drilling Plan 53 Wells Merenre Fustat W Renpet WKAL-B WKAL-K WKAL-D WKAL-L WKAL-J Kholod Lyra Qaa Alara Falcon-3X Maggie-4X Grenadier Limonite Amber Bes NTRK B Haematite NTRK-D, W Soltair Deep WMED-A WKAN-G NEAG C35 WKAN-J NEAG C1 Hathor S Sable Opera-2X NEAG C18 EBAH-ARF-P1, P2 FAYOUM-2X, 3X Pepi Alexandrite N RKAN-7, SAF EBAH-O Azhar E Faghur-8X Buchis WKAL-I-1X, 2X, 3X Chelsea-2X WKAN-E NEAG J16 Asala Deep HEBA 10X, CNE-1X Beni Suef W WON A, C EON-F Cretaceous AEB Jurassic Other 67 ERB (Suez)

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