SEAAOC 2014

Darwin Conference Centre, NT

20 August 2014

Update from PTTEP: Interests in the Timor Sea

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• Montara production update

• Cash-Maple status update

• Other opportunities

• Ongoing research into the Timor Sea environment

Content

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Number of Titles (August 2014)

Exploration Retention Production Total

Operating Assets 4 5 5 14

Total 4 5 5 14

Montara Project Cash-Maple

Southern Oil Project (100%) Timor Sea Gas Project (100%)

- AC/L7 - AC/L8

- AC/P34

- AC/RL7 - AC/P33 - AC/P54

Northern Oil

- AC/L1, AC/L2, AC/L3

PTTEP 89.6875%, Santos 10.3125%

- AC/RL 4*

PTTEP 50%, Cosmo 50%

- AC/RL 5

PTTEP 50%, Cosmo 50%

- AC/RL 6

PTTEP 50%, Cosmo 50%

- AC/P4

PTTEP 50%, Cosmo 50%

- AC/RL10

PTTEP 90%, Bengal 10%

PTTEP Interests in the Timor Sea

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Jabiru Challis Decommissioning

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Montara Production Update

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6

N

Montara

Skua

Swift & Swallow

Vulcan

• Permit: AC/L7 and AC/L8 in production

• Adjacent AC/P34 – under exploration

• Located 675 km West of Darwin in Timor Sea,

water Depth: 77-85 m

• First oil in June 2013, light sweet crude 36

Degree API

• 8 oil producing wells (5 subsea) and 1 gas

injector well

• At end June 2014: lifted 3.94MMBO

• Production rate 25,000 BOPD

• Produced gas for injection and fuel

Montara Production Update

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7 7

Cash-Maple

Cash-Maple Status Update

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Cash-Maple Status Update

• Permit: AC/RL7;

– under retention lease

• Adjacent AC/P33 and AC/P54;

– under exploration for upside

potential

• Located 690 km North-West of

Darwin in Timor Sea

• Water Depth: 130 m

9 9

Seismic Technology: First for Timor Sea

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4.0

2.0

1.0

3.0

A A’

Original Onnia 3D 1998 Arbitrary Strike Line A

A’

Seismic Technology: First for Timor Sea

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TWT

(Sec)

5 km

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Triassic Marker

Main Reservoir Package: (Plover/Nome Fm)

IMPROVEMENT IN IMAGING DUE TO: a) Longer Cable: 6km vs 4.5km

b) Broadband acquisition – better frequency response

c) Improved signal/noise

d) Improved Demultiple processing

A

A’

Sandalford 3D 2013 Kirchhoff PSDM Far Stack – 28 to 46 deg

Sandalford Broadband 3D

5 km

A

2.0

1.0

3.0

TWT

(Sec)

A’

Seismic Technology: First for Timor Sea

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12

AC/RL7

AC/P54 5 km

Cash-2

Maple-2

Maple East-1

AC/P54 Exploration

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13

PTTEPAAA Acreage

Prospect

Oil Field

Gas Field

40 km

AC/P4 Dillon South-1

AC/P54 Maple East-1

2014 Exploration Drilling Program

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Environmental studies triggered by the Montara incident in August 2009 has led to a new

body of world class research on the Timor Sea

Montara Environmental Studies Update

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• Implemented monitoring program as agreed

with government in 2009

• Final study (birds) will be complete end 2014

• Results published on Commonwealth

Department of Environment website

• No oil reached Australian mainland /

Indonesian coast

• No discernible impact on any species or habitat

• PTTEP promoting use of data for further

research and marine management

Montara Environmental Studies Update

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• Need for better understanding of ecology of banks and shoals of

Sahul Shelf

• PTTEP has partnered with the Australian Institute of Marine Science

(AIMS) for long term study of 3 reefs close to Montara: Vulcan,

Barracouta, and Goree

• Work complements that sponsored by other companies further west

(eg Scott Reef)

Scott Reef

Ashmore Reef

Montara . . .

. Darwin

Montara Environmental Studies Update

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