Sabah Talisman

Sabah Oil and Gas Conference 2014
Talisman Malaysia
Increasing Growth Opportunities for Sabah
May 26th, 2014
Content
Overview of Talisman Energy

Sabah Growth Strategy
Securing a Foundation
Maximising Asset Recovery
Expanding through Exploration
Working with other Operators
Talisman Energy Global Operations

Two Core Regions : The Americas and Asia-Pacific
Core: Asia-Pacific
Generating
Generating free
free cash
cash flow,
flow,
near-term
near-term exploration
exploration potential
potential
Long
Long life
life assets
assets with
with high
high
netbacks
netbacks
Core:
Core: Americas
Americas
Resource
Resource plays
plays provide
provide
long-term
long-term growth
growth
Colombia
Colombia exploration
exploration and
and
development
development underway
underway
Other
Other areas
areas considering
considering all
all
options
options
UK
UK Sinopec
Sinopec deal
deal lowers
lowers exposure
exposure
Norway
Norway sales
sales process
process underway
underway
Kurdistan
Kurdistan Kurdamir
Kurdamir and
and Topkhana
Topkhana
appraisal
appraisal ongoing
ongoing
2014 production guidance 350-365 mboe/d
2013 2P reserves ~1640 mmboe
Core areas 324-334 mboe/d
Core areas ~1480 mmboe
Other 26-31 mboe/d
Other ~160 mmboe
NYSE : TLM | TSX : TLM
www.talisman-energy.com
Talisman Energy - Asia Pacific

A Core Talisman Region
Vietnam
Vietnam
HST/HSD
HST/HSD
Vietnam
Vietnam
Nam
Nam Con
Con Son
Son
Malay
Malay Basin
Basin
Sabah Basin
Tangguh
Tangguh
Papua
New Guinea
South
South Sumatra
Sumatra
Kitan/LamCor
Kitan/LamCor
Core areas
Additional Assets
Exploration
500
1,000
Km
1,500
Talisman Energy in Malaysia

Assets Overview
TLM block
Oil field
Gas field
Vietnam
Malaysia
PM-3 CAA (41% WI)
Unique cross-border development
Supplying gas to two nations
Talismans largest operated asset
Finalizing PSC extension
SB309 & SB310 (70% WI)

Gross exploration acreage 13,000 km2
3-4 well exploration program planned in
2014
Kinabalu (60% WI)

Operated effective 26 Dec 2012
Successful completion of 3 infill wells
Commencing redevelopment
Sabah
PM305 & PM314 (60% WI)
Peninsular
Malaysia
SAA about 85% recovery to date

Studying options to extend field life
Sarawak
Sabah
New Core Area anchored by Kinabalu
Kinabalu is a secure base with upside
recovery opportunities
Significant acreage in a prolific and
proven hydrocarbon province
Extensive infrastructure enhances
exploration monetization opportunities
for oil and gas
Potential Synergies with other
operators to optimise operation and
Development Plans
2012 Kinabalu Oil PSC

Overview
Kinabalu Location Map
Kinabalu Block Details

Block: SB1 Kinabalu
Samarang Complex
(PCSB*)
2012 Kinabalu Oil PSC:

Start Date: Dec 2012 (20 years license)
Operator: TLM (60%)
Partner: PETRONAS Carigali (40%)
Location
55 km NW of Labuan
KNAG
(PCSB)
28 km SW of Samarang
Kinabalu KNDP-A
2 km SE of KNAG
Field Water Depth: 56 m
Labuan
LCOT (SHELL)
Discovery: 1989 and First Oil: Dec 1997

Cum. Oil Production @1/1/14 = 97 MMstb
20 Development Wells (20 active strings)
First PSC handover to International Operator
First progressive volume PSC to encourage brownfield redevelopment
First infill well : 9 months following transfer of operatorship
Redevelopment project, Concept Selection : 10 months following transfer of operatorship
2012 Kinabalu Oil PSC

Growth Strategy
Improve the
HSE
Performance
Improve Field
Reliability
Existing Platform
Debottlenecking
Project to be
completed in Q4
2014.
LP Separator
New Platform
New Facilities
Additional Infill
Drilling
Secondary Oil
Recovery
Well
interventions
Six Infill wells
approved
Double Field
Production
within one year
Exploration
Success
Potential
Synergies with
PETRONAS
Carigali in Sabah
KN 114st
Within Talisman Corporate Responsibility Standards

Managing Aging Infrastructure

It starts at the beginning
IDENTIFY
HAZARDS
DESIGN
CONSTRUCT
OPERATE
Decommission
Management of Change
INSPECT
Training & Competency

Cessation of
Production
Operations
MAINTAIN
VERIFY
Helideck Lighting Installation

Crane serviced and recertified for man-riding
EMERGENCY
RESPONSE
Additional Escape Route
Facilities Debottlenecking
Ready for Future Growth
Facilities Debottlenecking
Initial Infill Drilling programme and well
interventions increasing fluids throughput
Restrictions in liquid export rates
Preparation for additional offtake rates
once the full field redevelopment project is
implemented
Liquid Production Increase

Remove produced water prior to export
Convert LP Separator to 3 Phases
Equipment Integrity Improvement
Install Online Sand Removal System
Gas Production Increase
Modify LP Compressor to increase its
capacity to minimize flaring.
10
Field Rejuvenation
Maximising use of Existing Slots
Well 4
Well 3
Well 5
Main Fault Block

East Fault Block
Well 2
#3
#4
#5
Well 6
#1
#2
Well 1
#6
Note: All Wells Are Projected

11
Field Rejuvenation
Drilling Performance to date
No Recordable Incidents (LTI, RWI, MTI)

Excellent operational performance - benefit of established Rig
Contractor (20+ years in Malaysia)
Continuity of activity in Sabah Key to Performance
12
Kinabalu Redevelopment
Maximising Recovery Factor
A Team Approach : Project Success is driven by

the Integration of all Disciplines
Consider Novel Cost/Schedule Saving

Schemes No Stone Unturned
13
Kinabalu Redevelopment
Selected Concept Overview
Two Stage Development
Secondary Recovery Implementation
Increase field recovery factor to ~ 40%
Stage 1
(Early Production)
Installation of a 20
slot wellhead
platform (WHP)
bridge linked to
KNDP-A.
Maximum Use of
Existing KNDP-A
Scope
Estimated
1st Oil
4Q 2016
Stage 2
(Full Production)
Installation of a new CPP
bridge linked to the new
WHP
Gas Compression & Water
Injection
4Q 2017
(Estimated 1st Injection)
New Well Head Platform

14
Exploration Portfolio
SB310 & SB309 Prospects and Leads
15
Partners: TML (70%), PCSB (30%)

PSC Signed; Effective Date - 26th
October 2009
Exploration period: 6 years
5 Commitment wells in SB310; 3 wells
in SB309
South Sabah Synergies

A way of working between Operators
KNNAG accommodation
Helicopter Sharing
Marine Vessels
Spare Sharing
Subsurface Data Sharing
5 Year Integrated Plans
Warehousing
Facilities optimization with KN

and Samarang
Gas utilization
Liquid handling
Debottlenecking
16
Area Development Plans

Maximise Utilisation of
Existing Infrastructure
Corporate Responsibility within Talisman

Supporting our Growth Plans
Our Themes
Education
Health
Environment
17
Thank
You
18

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Sabah Oil and Gas Conference 2014

Overview of Talisman Energy

Talisman Energy Global Operations

2014 production guidance 350-365 mboe/d

2013 2P reserves ~1640 mmboe

Core areas 324-334 mboe/d

Core areas ~1480 mmboe

Other 26-31 mboe/d

Other ~160 mmboe

NYSE : TLM | TSX : TLM

Talisman Energy - Asia Pacific

NYSE : TLM | TSX : TLM

Talisman Energy in Malaysia

SB309 & SB310 (70% WI)

Kinabalu (60% WI)

PM305 & PM314 (60% WI)

NYSE : TLM | TSX : TLM

SAA about 85% recovery to date

NYSE : TLM | TSX : TLM

2012 Kinabalu Oil PSC

Kinabalu Block Details

2012 Kinabalu Oil PSC:

Discovery: 1989 and First Oil: Dec 1997

2012 Kinabalu Oil PSC

Within Talisman Corporate Responsibility Standards

Managing Aging Infrastructure

Training & Competency

Helideck Lighting Installation

Crane serviced and recertified for man-riding

Additional Escape Route

Liquid Production Increase

NYSE : TLM | TSX : TLM

Main Fault Block

Note: All Wells Are Projected

No Recordable Incidents (LTI, RWI, MTI)

A Team Approach : Project Success is driven by

NYSE : TLM | TSX : TLM

Consider Novel Cost/Schedule Saving

New Well Head Platform

NYSE : TLM | TSX : TLM

Partners: TML (70%), PCSB (30%)

South Sabah Synergies

NYSE : TLM | TSX : TLM

Facilities optimization with KN

Area Development Plans

Corporate Responsibility within Talisman

NYSE : TLM | TSX : TLM

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