Investor Presentaiton
Egypt Update
Production & Drilling Optimization
Asset Highlights
■ Production up 1% sequentially and at the high end of Q3 guidance
range
■Continued drilling success with 2023 capital program reaching drilling
efficiency milestones
- Successfully drilled 18 vertical wells YTD 2023 and completed 1 horizontal
well
-Improved drilling and completion performance with average drilling days
decreasing by more than 50% from 2022 average of 38 days to under 15 days
in 1H 2023
-
Reduced the rig-release to artificial lift production period to less than 6 days
Days
3Q 2023 Asset Stats
0
11,691 BOEPD
100% 0% 0%
Oil
NGL
Gas
WI Production
Improved Drilling Efficiency
40
35
~38
30
25
12
20
15
Step change in drilling efficiency,
decreases costs and improves
economics
■ Capital program, strong production performance and operational
efficiencies supporting increased total Company and Egyptian
production guidance for FY 2023
<15
10
5
0
2022 average
1H 2023 average
Outstanding 2023 Capital Program Results Driving Production Growth
Slide 12View entire presentation