Investor Presentaiton
UPDATE ON OPERATIONS
Focus on well development and reducing costs
OIL BUSINESS
> OML40 and Ubima production now included,
contributing nearly a third of oil production
> 76% uptime as infrastructure outages affected OML
4,38, 41 exports; 8.6% reconciliation losses.
> Six oil wells completed across Sapele, Ovhor, Ohaji
South and Gbetiokun
› Cost saving initiatives underway include negotiating
savings from suppliers per Government request, larger
barges at Gbetiokun to reduce shipping costs, savings
already driving costs down from $14 to $9 per bbl
› Amukpe-Escravos Pipeline expected H2 2020 due to
delays in accessing the terminal; expected
to significantly reduce reconciliation and other losses,
thereby enhancing revenue assurance
GAS BUSINESS
> 99 Mscfd achieved across six-month period was
significant increase on 88Mscfd achieved Jan-March
> Oben scheduled maintenance and 3rd party
infrastructure problems restricted Q1 gas sales
> Oben-48 gas well completed and onstream
> ANOH project still on target to produce first gas in late
2021, despite COVID-19 impact
> ANOH equity and debt financing expected to complete
in H2 2020
> Sapele Gas Plant decommissioning in advanced stage
but timetable affected by COVID-19
> Two gas wells on track to be drilled in H2
42
SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC | INVESTOR PRESENTATIONView entire presentation