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UKCS Exploration and Appraisal

UKCS Exploration and Appraisal. Peter Haile Deputy Director – Exploration, Promote, Knowledge. March 2007. Overview. Ultimate Resources & Challenges Undiscovered Resources Fallow Process Impact Exploration & Appraisal Activity Licensing Initiatives Promote Licences – Success

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UKCS Exploration and Appraisal

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  1. UKCS Exploration and Appraisal Peter Haile Deputy Director – Exploration, Promote, Knowledge March 2007

  2. Overview • Ultimate Resources & Challenges • Undiscovered Resources • Fallow Process Impact • Exploration & Appraisal Activity • Licensing Initiatives • Promote Licences – Success • Recent UKCS Discovery Rates • 2007 Promote CD

  3. Source UKOOA 1/1/07

  4. Long Term Challenge – Window of Opportunity Exploration wedge

  5. Short Term (?) – Tight Rig Market

  6. Undiscovered Resources 2006 DTI estimate of YTF potential (20%COS): Approx 8 bn boe - 3.1 WOS/S - 0.7 NNS - 3.7 CNS - 0.6 SNS

  7. Field Size Distribution Future Potential End 2005 data

  8. Fallow Process Helping to Drive Activity

  9. Exploration & Appraisal Activity Source: UKOOA

  10. Irish Sea Atlantic Margin Northern North Sea Central North Sea 90 Southern Gas Basin 80 70 60 50 40 No. of E & A wells incl. sidetracks 30 20 10 0 2005 2006 2007 2008 UKCSRegional E & A Activity Source: 2006 UKOOA & DTI survey

  11. 1 4 Licensing Strategy 7 • Annual Rounds • Cumulative Acreage • Focussed Terms • - Traditional, Promote, Frontier Licences • Exploration Phase • - 2, 4 or 6 year break pts 2 5 3 6 2 8

  12. Increased Licence Interest

  13. Continuing Promote Licences 21st Round 22nd Round • 15 Firm Wells • 13 Firm Wells • 7 New Seismic & Contingent Wells • 10 New Seismic & Contingent Wells 58 54 • 1 Proposed Development 24 23 2003 2005 2004 2006

  14. Promote Licence Drilling Results Dec 2006

  15. Potential Commercial Success Rates Source: UKOOA

  16. Potential Commercial Discoveries Source UKOOA

  17. 2007 Promote CD Opportunities • 23 Leads & 1 Discovery • Maps, Stratigraphic columns and Cross Sections • In Place and Reserve Estimates • Play summaries CD available at DTI stand

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