Mond, Kaki, Bushgan Oil Fields Integrated Development Plan

Mond-Kaki-Bushgan Fields – Development Schedule

TIME-LINE (between now, signing and effective date)

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Signature of Service Contract

Effective Date - start of project implementation

Reservoir Committee

Finalisation of Contract Appendices/ Supplementary Studies

Economic Council/NIOC Board Approval

BACKGROUND – KUH-E-KAKI

The Kuh-e-Kaki-1 (“Ku-1”) well was drilled in 1973

Oil was recovered from carbonate reservoirs in the Miocene Asmari Formation, which flowed 2,000 BOPD during the drilling operations, 5,000 BOPD in 1977 on production test; and 2,500 BOPD from the Cenomanian Sarvak Formation during the drilling operations

The KU-1 well is the only well on the structure

Digitised wireline logs, drilling, geology and test reports were used to examined the potential

reservoirs in the Ku-1 well

RESERVOIR STRATIGRAPHY

Asmari - Miocene

Limestones, anhydtite & shales

Fractured & dolomitised

Kaki & Bushgan

Sarvak - Cenomanian

Limestone

Fractured

Kaki & Mond

Mond Field – OverviewMulti-reservoir giant accumulation – 560 km²

2D (650 km) and 3D (150 km2) seismic

8 wells – Two wells (MD-06 and MD-08) produced oil

constrained by pump capacity

MD-08 tested in excess of ~ ... bopd from the Sarvak

formation during an 8-day test

Geological & geophysical, core, well test and PVT

studies

6

Seismic Line datumed and tied to Outcrop Geology

Sarvak

Seismic well tie to Sarvak

MD-08

• 11 Horizons were used to develop the seismic and structural framework

• Surface Geology– Aghajari(1), Mishan(2)

• 2D Seismic– Middle Mishan(3), Asmari(4),– Jahrum(5), Near Top Ilam(6),– Sarvak(7), Pabdeh(8),– Kazhdumi(9), Surmeh(10) & Deep

• 3D Seismic– Jahrum, Pabdeh, Sarvak – and Surmeh

Regional Chronostratigraphy

10

123

6

7

8

9

11

4

5

9

Integrated Surface Geology & 2D/3D Seismic

Aghajari outcrop

10

DTM Map with Lineaments

Northern Mond

Southern Mond

11

North Mond

Sarvak

12

Top Sarvak Depth map and 3D Amplitudes

amplitude map

13

The Sarvak amplitude map indicates a regular wavelength of cross-cutting faults/fractures, which could be used as a model for interpreting the full Mond structure.

Fault Frequency?

MD-7

MD-1MD-4MD-6

MD-5MD-2MD-3

14

Sequence Strat Review 2D line 737

Sarvak

SB Mounds (Basin Floor Fans?)

SB

Asmari

Mishan

15

Kaki : Data

16

• 10 seismic lines over Kaki structure

• One well• A suite of

borehole well logs

• No checkshot data.

16

Kaki: Tie to Mond and outcrop geology

17

81055 Version BLine 734Mond

Sarvak

Asmari

Mishan

17

18

Kaki : Cross Faults (Strike line 8150)

Mishan

Asmari

Sarvak

18

Kaki : Perspective View of Asmari Reservoir

1919

Bushgan : Location

20

• 4 seismic lines over Bushgan Anticline

• More complicated structure compared to Kaki

• One well

• No well logs

• No checkshot data.

20

Bushgan : 3D view

2121

Bushgan : Strike line - Cross-Faults.

Asmari

Sarvak

22

Field Area

Sideswipe

22

Bushgan: Asmari structural model (ECL)

23

1250m

relief

23

CF4: Medium-grained Rudist/Echinoderm wackestone/packstone

CF5: Coarse-grained Rudist floatstone/rudstone

Upper Sarvak Depositional Environments

F1 F2 F3 F4 F5 F6 F7

CF5CF1

CF4 CF2CF6 CF3

Fracture Impacts on the Reservoir

Reservoir Facies Correlation

Reservoir Facies Correlation Across the Field

May 3, 202330

Pickett Plot Method for Extracting ‘’m’’

• No interval with 100% Water saturation present in the Upper Sarvak. Therefore “m” cannot be obtained from Pickett plot.

Integrated Study Philosophy

Static and Dynamic Modelling – Upper Sarvak

Dual porosity static model of Upper Sarvak constructed.Model was not upscaled for simulationSimulation model calibrated by history matching the well test from MD-08Forecasting and uncertainty analysis conducted with calibrated simulation model.

Eclipse Model

Petrel Model

History match of MD-08

Mond Field DevelopmentPhased Development

Phase 1 - 2-well program (Mond-08 reentry + 1 new well) providing for simultaneous appraisal, development and production by artificial lift.

Phase 2 - 10 development wells and using 2 injection wells for water disposal.

Phase 1 Wells

Phase 2 Wells

MD-08

MD-09

MD-16

MD-15

MD-14

MD-17

MD-10MD-12

MD-13

MD-11

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

0 2 4 6 8 10 12 14

From Start of First Phase Production (Years)

Oil

Rat

e (b

opd)

0

5

10

15

20

25

30

35

40

45

Cum

ulat

ive

Oil

Pro

duce

d (M

MS

tb)

Oil Rate

Cumulative Oil

First Phase

Start of Second Phase

Mond Field – Subsurface Uncertainties (Phase 1)