#1GREATER SUNRISE PROJECT UPDATE NACIONAL AUTORIDADE A DO PE PETRÓLEO ANP TIMOR LESTE La'o Hamutuk note: This presentation was ANP President Gualdino da Silva was given on 1 July 2011 to the "Energy in Timor-Leste" conference sponsored by the Portuguese oil company Galp and the Timor-Leste National Parliament. For more information about the Greater Sunrise project, see http://www.laohamutuk.org/Oil/Sunrise/10Sunrise.htm.#2Content .... •The Greater Sunrise Gas and Condensate Field- Overviews • Legal Framework and Stakeholders Project Progress Way Forward •Other activities, potentials and the next bid round#3TLEA JPDA Map Showing Location of the Greater Sunrise Field in the Timor Sea PAKISTAN Cheng CHINA NER NETNA ORMA AOSS TONG KONG THAILAND INDIA onbay Malura Dili TIMOR-LESTE Sunrise Darwin TLEA Timor-Leste Exclusive Area JPDA Joint Petroleum Development Area PACIFIC OCEAN PHILIPPINES MALAYSIA INDONESIA Intierra MAPPING www.intierra.com AUSTRALIA PAPUA NEW GUINEA Canbers#4The Greater Sunrise Gas and Condensate Field Greater Sunrise (UPI) Operator Partners : Woodside Petroleum (33.4417%) an : Shell (26.5583%) ConocoPhillips(30%) Osaka Gas (10%) AREA ESKLUSIVA • Areal Coverage : 75 x 50 km – east-west elongated AREA KONTUUNTA Distance from Northern Australia ~450km Distance from Southeast coast of TL ~ 150km Reservoir Depth 3000mSS Kilometers Reservoir Thickness 60-80m Reservoir Temp – 40degress C - Condensate Gas Ratio 30-50bbl/mmscf Timor Leste Greater Sunrise#5The Greater Sunrise Gas and Condensate Field Timor Leste AREA ESKLUSIVA 08 Vian PSC 03-19 Operator Partners PSC 03-20 Operator Partners 50 : Woodside Petroleum (27.6666%) : Shell (32.3333%) ConocoPhillips(30%) KONJUNTA Osaka Gas (10%) : Woodside Petroleum (26.6666%) : Shell (33.3333%) Contract Areas in JPDA and T ConocoPhillips(30%) Osaka Gas (10%) Seater Sunrise Noedsica PSC 03-19#6The Greater Sunrise Gas and Condensate Field 08 Vian Timor Leste AREA ESKLUSIVA •Early Estimate: Greater Sunrise. •Gas Reserve - 7.67TCF •Condensate - 298 MMBBL D •Latest Estimate by Woodside(2009):UNTA •Gas Reserve - 5.13TCF •Condensate - 226MMBBL •ANP has engaged a third party to verify the change of reserve... Contract Areas in JPDA and TLEA#7Legal Framework for the Greater Sunrise Project establishment of JPDA Timor Sea Treaty PMC & Regulations under TST Greater Sunrise Project PSCS & RES Australlan Laws Unitisation of the Areas IUA CMATS Moratorium Period & Equal Revenue Share between TL& Australia#8TLEAJPDA Timor-Leste Government State Secretary of the Environment k Ministerial Council (equal number from ach side NV State Secretary of Natural Resources Board of Directors ANP Joint Commission (3 commissioners) Sunrise Commission (3 commissioners) Autoridade Nacional do Petróleo Designated National Up- and Downstream Authority Institutional relationship across the three jurisdictions ACS Australian Government Australian Regulatory Authorities#9Project Progress ANP has engaged a third party to review the reduction of the Greater Sunrise Contingent Resources ---presented by Woodside and its JVs in late 2009. •ANP received three concepts for the Development of the Greater Sunrise Field in September 2010 •Timor LNG •Darwin LNG •Floating LNG •ANP presented its first preliminary findings on the three concepts at the 6th Sunrise Commission Meeting in Brisbane on 15th December 2010#10Dili Indonesia jurisdiction NT/RL4 Sunrise and Troubadour JPDA03-20 Timor-Leste NTIRL jurisdiction JPDA0S-19 Joint Petroleum Development Area Australia jurisdiction Laminaria Bayu Undan 0 N 50 Kilometres Sunrise Development Concepts Review TLNG FLNG DLNG 100#11Dill Timor-Leste Jurisdiction Indonesia jurisdiction Sunne and Troubadour Joint Petroleum Development Area Australia jurisdiction Laminaria Bayu Undan Kampu Gas no Kondensadu Sunrise TLNG FLNG DLNG#12Project Progress •Sunrise Commissioners agreed to suspend temporarily all the activities related to the Greater Sunrise Project until differences on downstream title under the PSCs is established. Consequently no significant progress on the follow up for the assessment of the three development concepts...#13Way forward •ANP to settle the issue on the Sunrise Contingent resources re-estimate with the Sunrise Commissioners •ANP to review audits for to the 2010 PSCs' expenditures •PSC 03-19 •PSC 03-20#14Way forward • Upon the agreement of the Sunrise Commissioners to resume discussions with WS & JVs as follows... • ANP will present its comments and feedbacks on the three concepts for further evaluation as necessary ⚫ ANP with prior consent of the Sunrise Commissioners will open discussions on the Sunrise contingent resource estimate/reduction#15Other Projects#16Seismic Activities S-06-01-A En S-06-02-B Eni Eni 3,175 km 2D 8,400 km² 3D (2007-8) 2D 3D 25 50 6-08 C Eni 8-06-04-E Eni 8-06-03-C Eni Oilex 2,140 km² 3D (2008) Klometers 100 S16-06-K Riance Timor Leste 2010 TLEA 59% unlicensed S-08-05-K Reliance Reliance 325 km 2D 1,300 km² 3D (2007-8) 5-06-04- Eni S-06-06-H Eni Kla PSO-194 PG 06-103 Rac 00-12 EKKN JPDA 63% unlicensed Petronas 650 km² 3D (2007) PSC 0102 Petro Contract Areas in JPDA and TLEA Woodside 1,720 km² 3D (2005) PSC 03-35 COP PEC 03-20 Woods PSC 19 PSC 03-A Mir Woodside 3,200 km² 3D (2000) Minza 940 km 2D (2009)#17Other projects - TLEA and JPDA 2D & 3D -Seismic Surveys SWS TL EXCLUSIVE OFFSHORE AREA ENI S-06-02 ENI S-06- 01 ENI 5-06-03 5-06-04 S-06-05 Reliance S-06 06 JPA03-19 Olex Consortium JPDA JPDA06-103 3by Flesible Rovines Sde Track 3 by Gas Lines 9by Risers & Unicas JPDA 03-12 Petronas Consortium JFDA 06-102 san 3 New Well Conoco R dan JPDA03-13 Combo Umbilical Newel Tw Greater Sumse Woodside 1318 JEDA 03-20 Mintza JPD486-10 Bayu-Undan Production#18OTHER PETROLEUM POTENTIALS Exclusive Areas (Onshore & Offshore) & JPDA#19Petroleum Potentials in the JPDA •Past Studies indicated that we have significant petroleum resources which should further be explored and developed •+/- 60% area of the JPDA .. And 60% from TLEA exclusive remains open for business •Continuing interest showed by the international oil players regionally and worldwide#20North ↑ Not to scale LEGEND Oil Well Suspended Oil Well Abandoned Oil Well Oil Well with Gas Shows Oil and Gas Well Suspended Gas Well Gas Well with Oils Show Dry Hole w/ Oil & Gas Show Dry Hole with Oil Show Dry Hole Map Showing Petroleum Prospects in JPDA Jay Dawn Gas Well Jurassic Prospects Jurassic Leads Permian Prospects Deep Water Leads PSC Areas Undrilled Wells Dili, Sept. 2007 E & D Department Argus 1 Great Index Map Dili JPDA Darwin#21Petroleum Potentials Onshore Oil seep Mud volcano (with seeping gas) Gas seep + Exploration well Oecusse West Timor (Timor PSC Dili East Timor (ex-Pertamina) Pualaca Matai-1 180bopd Cota Taci-1 216 bopd Iliomar Aliambata-1 95 oil & gas shows Ossulari-1/1A Betano-2 Minor oil shows Suai Loro-1 oil & gas shows Mola-1 gas shows Suai-1 minor gas shows 10°S Banli-1 •Onshore petroleum potentials hows More than two dozen of oil and gas seeps exist along the southern coast of TL 126 E •Geological Studies for better understanding on the onshore prospects are well underway along the south coast....aimed for all over TL 11 08 2002#22Almaulin Seep 'TIMOR-LESTE NATURAL GAS SEEPS PROSPECT MAP LIQUICA AILEU MANATUTO EMERA BOBONARO Morba Seep MANUNAMI AINARCH Holmesel Saep COVA LIMA VIQUEQUE LAUTEM RAUGAU NATIONAL DEEP INTO HOURG BY ACCO FERRIRA AND TEAM 200 LEGEND 1 11. Сак Бевре Distry TL Dombginal Formation Ailsa Feimahom Ainara Farmaton Autumation Aliantata Forination Alluvial Barique Formation) Daucau Lanestone Bodmara Comples hobomaro Formation Bailalo Formation Cat Lit Cibac Fata Darolta Limast Dio Formation Langudi Formation Lolosal Formation Mauhise Formation Buat Formation Butorena Formation Viquequn Farination Wabus Formation Walub Formation 15 N 1:400000 Allambata Seep Badulobo seep Lour Seap Aisaleuk Seep Atalele Seep 3רי ס#23NEXT BID ROUND 1 •ANP is preparing for the next acreage release round planned to commence a road show in late 2011 – early 2012 • preparations are well underway • New PSC Awards by Mid 2012