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Reserves (2P) Mboe: 127.3 equity (223.8 100%)Prj Phase: Concept DefinitionFID: July 2015Start Up: 4Q 2016 (Early Start -Up through Phase 1 facilities 1Q 2016)
Peak Prod. kboed/anno: 29.5/2019 equity (43 100%) Capex: 2,503M$ equity (3,466M$ 100%) NPV: 791M$ (potential grought of 950M$**) IRR:16.9% (potential grought of 20%**) PV Ratio: 0.35% @ WACC adj.(*) G2 17 December 2014(**) Capex reduction through oil linked prices and well n. optimization
Data Summary*
1
Installation of 4 WHP’s, 1 RP, 1 PP & MOPU Early Production from first well foreseen 1Q2016 Production debottlenecking with rented facilities (MOPU
25kbopd capacity) 3Q 2016 Installation of Production Platform (50 kbopd) SU in
1Q2018 Oil Export Sealine 16’’ (100 kbopd) – 57km in 4Q 2016 Gas Export Sealine 18’’ (8 MScmd) – 57km in 4Q 2016 Intrafield sealines D&C 40 wells (upside 31 wells)
Development Concept
Nené Phase 2 Development – Project Overview @ G2
Benchmark
WHP4
WHP3
WHP2
AEP
WHP1
PP1
Phase 1
Riser Plt
PP1MOPU
Nené Phase 2 Development : Project Highlights
2
key milestones
AR2 held on 18-21 November 2014 , Gate 2 held on 17 December 2014 (requested execution pre-investment 231.7 M$);
FID: 3Q 2015; SU: early production of WP4 on 1Q 2016 with one well (through Ph1 facilities).
status
Ongoing FEED studies for WHP’s, PP, RP, Export Sealine & Intrafield; Ongoing tendering phase for Drilling rig acquisition; Ongoing finalisation firm in of Rig Hercules; Platforms fabrication: ITT issued in Sept. 2014, ongoign tendering process; Ongoing tendering phase for used platforms purchase; MOPU: concurrence to be issued for approval, ITT to be finalized; Held on 28-29 January Workshop with Partners on new Reservoir Dynamic Model based on
NNM3 results. Ongoing feasibility study for Nenè Phase 2 Early production Debottlenecking on Kitina NNM4 not to develop and consequently Monopod will be reallocated some other place
points of attention
and actions
Tight Schedule considering the first results coming from Tendering phase; Pre-investement authorization (Pending); Updated reservoir model with NNM3 results; CAPEX optimisation through facilities and Wells n. optimisation; GAS Utilization Plan; Planned for 5 March Worshop with CB LNG Ltd covering BLNG concept key terms of gas sales
agreement.
Reserves (2P) Mboe: 127.3 equity (223.8 100%)Prj Phase: Concept DefinitionFID: July 2015Start Up: 2Q 2016 (WHP4 & WHP2 with Monopod) (Production Debottlenecknig on Kitina)
Peak Prod. kboed/anno: 29.5/2019 equity (43 100%) Capex: saving 200-500M$; 2,503M$ equity (3,466M$
100%) NPV: 791M$ (potential grought of 950M$**) IRR:16.9% (potential grought of 20%**) PV Ratio: 0.35% @ WACC adj.(*) G2 17 December 2014(**) Capex reduction through oil linked prices and well n. optimization
Data Summary*
3
Installation of 4 WHP’s & 1 PP Start –up foreseen 2Q 2016 from WHP4 & WHP2 Production debottlenecking on kitina platform through
12’’ mutiphase line and existing facilities Installation of Production Platform (50 kbopd) SU in
1Q2018 Oil Export Sealine 16’’ (100 kbopd) – 57km in 1Q 2018 Gas Export Sealine 18’’ (8 MScmd) – 57km in 1Q 2018 Intrafield sealines D&C 40 wells (Minimum 27)
Development Concept
Nené Phase 2 Scenario A – Kitina Without MOPU + RP
Benefits & the Advantages
WHP4
WHP3 WHP2
AEP
WHP1
PP1
Kitina
Export lines1Q 2018
CAPEX reduction due to structures reduction (MOPU + RP) Sinergies with other projects in Marine XII area to share
Exports pipeline (additional CAPEX saving) Early production without Gas constrain Existing Facilities valorization (added value )
Field Configuration
Reserves (2P) Mboe: 127.3 equity (223.8 100%)Prj Phase: Concept DefinitionFID: July 2015Start Up: 2Q 2016 (WHP4 & WHP2 with Monopod) (Production Debottlenecknig on Kitina)
Peak Prod. kboed/anno: 29.5/2019 equity (43 100%) Capex: saving 200-500M$; 2,503M$ equity (3,466M$
100%) NPV: 791M$ (potential grought of 950M$**) IRR:16.9% (potential grought of 20%**) PV Ratio: 0.35% @ WACC adj.(*) G2 17 December 2014(**) Capex reduction through oil linked prices and well n. optimization
Data Summary*
4
Installation of 4 WHP’s & 1 PP, 1 RP & 1PP Start –up foreseen 2Q 2016 from WHP4 & WHP2 Production debottlenecking on kitina platform through
12’’ mutiphase line and existing facilities Installation of Production Platform (50 kbopd) SU in
1Q2021 Oil Export Sealine 16’’ (100 kbopd) – 57km in 1Q 2018 Gas Export Sealine 18’’ (8 MScmd) – 57km in 1Q 2018 Intrafield sealines D&C 40 wells (Minimum 27)
Development Concept
Nené Phase 2 Scenario A – DB on Kitina With MOPU + RP
Benefits & the Advantages
CAPEX Increase respect base case Sinergies with other projects in Marine XII area to share Exports pipeline (CAPEX saving)
Early production without Gas constrain Existing Facilities valorization (added value )
Field Configuration
WHP4
WHP3 WHP2
AEP
WHP1
PP1
Kitina
Export lines1Q 2018
5
WHP4
WHP3 WHP2
AEP
WHP1
PP1
Kitina
Export lines1Q 2018
Anticipated Early production through the installation of a light structure to re-enter NNM3 well
Installation of Refurbished 4-legs platform to support necessary production facilities
Drilling of one additional well (base case approved by Partners) + two wells (contingent case)
Export of multiphase production to the existing Zatchi (ZAF-3) production platform through a dedicated 6” sealine
ZAF-3 platform modifications Produced oil sent to Djeno Oil terminal for
commercialization together with Zatchi production. First Oil achieved on the 29th of
December 2014
Nené Phase 1 - DPM Rami Rached - 65% eni share (W.I. 72,22%)
Reserves (2P) Mboe: 8.0 equity (12,3 100%) Prj Phase: Execution FID: April 2014 Start Up: December 2014 Peak Prod. kboed/anno: 5/2015 equity (7.6 100%) Capex: 206.4 M$ equity (284.9 M$ 100%) NPV: 175.9 M$ IRR: 29.5% PVratio: 0.86 @ WACC adj. HSE Statistics: LTIF: 0 TRIR: 0 @ Dec 14 FO on the 29/12/2014(*) Release 21
Data summary*
6
Development conceptBenchmark
status
Nené Phase 1 - Project Highlights
NNM5 drilling in progress (foreseen completion in mid of April); Ongoing Deck facilities Completion acivities; Held on 24th February Workshop with Partners covering:
NNM5 - Completion Strategy & Frac Proposal; NNM6 - Location Proposal. NNM3 – Well Test data
7
key milestones
FID / Start up April 2014 / December 2014 First Oil achieved on the 29th of December 2014
2014 main data
CAPEX 2014: 125 M $ equity vs 117 FC3 (173.1 M$ 100%)
points of attention
and actions
Drilling of NNM6 well to be approved by Partners.
Nenè Phase 1: Project Schedule
8