Ernie Delfos - eni Australia

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Ernie Delfos - eni Australia

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Ernie Delfos - eni Australia

  1. 1. www.eni.it eni’s Activities SEAAOC August 2014
  2. 2. 2 Agenda  eni – new ceo, new organisation  e&p overview  Activity in Australia and Timor-Leste  Conclusion
  3. 3. 3 Market capitalisation eni vs. peers Market Cap* US$ Billion 412 240 215 154 149 86 79 XOM RDS CVX BP TOT eni COP *Data at February 21, 2014; Source: Reuters
  4. 4. 4 conventional assets in proven basinsfrontier exploration in emerging basins Arctic Norwegian, Russian Barents Sea, East Greenland GoM Caspian and Black Sea Cyprus Levantine Basin Egypt nearfield West Africa proven Nigeria offshore, Angola 15/06 West Africa frontier Pre-salt play: Congo, Angola, Gabon Congo nearfield East Africa Mozambique Area 4 Kenya Ultra Deep Water Pakistan nearfield Pacific Indonesia, Australia Pacific Vietnam, Myanmar, China exploration targets
  5. 5. Long-term growth drivers: Mozambique  Deepwater Field: 1500–2100 m wd  Multiple 2D/3D seismic surveys  14 exploration and appraisal wells drilled  >85 TCF of gas discoveries through a extremely successful exploration campaign 5 Area 4 Location Area 1 Area 4 Mamba Coral Agulha Gas Discoveries Entirely in Area 4 Gas Discoveries Straddling (Area 4) Gas Discoveries Straddling (Area 1) Gas discovery well Mamba-Coral Discovery Area Exploration & Appraisal Highlights Initial Development Program  Area 4 straddling resources  10 MTPA with 2 LNG onshore trains (5 MTPA each)  16 subsea wells  Area 4 non-straddling resources  1 Floating LNG (2.5 MTPA) for development of Coral discovery  6 subsea wells
  6. 6. 6
  7. 7. 7 Focus on Pacific area growth AUSTRALIA PNG INDONESIA CHINA TIMOR LESTE eni assets new acreage East Seppingham Arguni 1 NT/48-Evans Shoal  Indonesia  Expansion of Jangkrik play  New acreage in successful play  Australia  Evans Shoal No 1 success  China  New blocks  Myanmar  New onshore blocks  Offshore blocks in process of award  Vietnam  Encouraging results  New blocks Pacific Basin position JANGKRIK VIETNAM BUKAT/BULUNGAN THAILAND MYANMAR MALAYSIA LAOS CAMBODIA 4 Licenses 30/27 4 Licenses
  8. 8. 8 eni Australia 8  Operating since 2000  Production equity 30 kboed (2013)  230 employees  25,000 km2 acreage MAJOR ACTIVITIES  Blacktip - Major NT domestic gas provider  Kitan oil project, Timor Sea  Bayu-Undan/Darwin LNG Dili office Yelcherr Gas Plant Glass Dowr FPSO, Kitan Oil Project Blacktip Gas field, Offshore Platform
  9. 9. Community social responsibility, Northern Territory 9 Thamarrurr Rangers
  10. 10. 1010 eni exploration activities - Northern Australia and Timor-Leste Next 18 months  Invest ~$170M  Drill 4-5 wells
  11. 11. NT – east coast pipeline: Developing Northern Australia infrastructure  NSW gas supply shortage forecast from 2016  Infrastructure building  Energy security opportunity 11 Opportunity to expand Eni’s Blacktip gas Project Yelcherr Gas Plant
  12. 12. 1212 Gas Appraisal Project – Evans Shoal  Evans Shoal North 1  Flowed 30 MMscf/day  Contains 8TCF raw gas  Potential LNG Project  Development options: include DLNG backfill/expansion Northern Australia region Evans Shoal 3D reservoir
  13. 13. 13 Kitan and Exploration projects, Timor Sea  Kitan JPDA 06-105  Kitan 6 confirmed undrained reservoir  Kitan 3 side track to access attic oil  Exploration area JPDA 11-106  Drilling two wells in 2015
  14. 14. Timor-Leste Training to Employment Program (Kitan Project) 14 All 14 Timor Graduates secured employment  4 graduates have a contract with Schlumberger  1 graduate contracted by Subsea-Seven and in Singapore now.  1 graduate contracted by General Electric Oil and Gas – in Perth now  1 graduate contracted with ESS catering  7 graduates - working offshore on the Bayu- Undan project
  15. 15. 15 In summary  eni is a top seven integrated energy company  eni is continuing to expand in the eastern hemisphere  China, Vietnam and Myanmar  eni is well positioned to support Northern Australia growth plans  Yelcherr infrastructure (Blacktip) – expansion opportunities  Evans Shoal gas field confirmed as a simple, significant subsurface structure in 100m of water

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