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OIL SEARCH LIMITED | ARBN 055 079 868 | ASX: OSH | POMSoX: OSH | US ADR: OISHY
www.oilsearch.com
4D Visualisation of PNG’s
Petroleum Systems
Oil Search Exploration Team
30th November 2017
| PAGE 2
DISCLAIMER
NOVEMBER 2017
The information is based on assumptions and contingencies which are subject to change without notice and involve known and
unknown risks, uncertainties and other factors which are beyond the control of Oil Search. Oil Search assumes no obligation to
update this information, which is provided as a general guide only and should not be relied upon as an indication or guarantee of
future performance.
While every effort is made to provide accurate and complete information, Oil Search Limited does not warrant that the information
in this presentation is free from errors or omissions or is suitable for its intended use. Subject to any terms implied by law which
cannot be excluded, Oil Search Limited accepts no responsibility for any loss, damage, cost or expense (whether direct or indirect)
incurred by you as a result of any error, omission or misrepresentation in information in this presentation. All information in this
presentation is subject to change without notice.
This presentation also contains forward-looking statements which are subject to particular risks associated with the oil and gas
industry. Oil Search Limited believes there are reasonable grounds for the expectations on which the statements are based.
However actual outcomes could differ materially due to a range of factors including oil and gas prices, demand for oil, currency
fluctuations, drilling results, field performance, the timing of well work-overs and field development, reserves depletion, progress
on gas commercialisation and fiscal and other government issues and approvals.
Cover photo: Menya River, PNG courtesy Justin Foltz
| PAGE 3
IMPLEMENTING OUR PNG STRATEGY
NOVEMBER 2017
Committed to continued investment in PNG for the long term
Muruk
Elk-Antelope
NW
Highlands
Offshore Papuan Gulf
Shallow & deep water
Gulf &
Foreland
P’nyang 4 hubs
16+ licences Mitigating
field decline
Disciplined acreage screening 2016-17
Accessed areas we believe contain
most of PNG’s YTF
Diversified PNG portfolio (hubs)
Increased footprint gives flexibility &
spreads risk
Strongly positioned for the future
Variable & complex geology
demands creative exploration
technology application
Eastern
Foldbelt
| PAGE 4
Substantial undiscovered volume
Big new fields likely
Oil Search proactively secured
prospective acreage position
Holistic Plates to Prospects
4D visualisation
MESSAGES
NOVEMBER 2017
PPL Operator
PPL Interest
PRL Operator
PRL Interest
PDL Operator
PDL Interest
Oil Search Permits
2017
| PAGE 5
TOTAL PETROLEUM VOLUME
NOVEMBER 2017
6.6
(40Tcf)
0.6 4.1
(25 Tcf)
0.7
Oil & Gas
Bn boe
Discovered
4.8 Bn boe
40%
YTF
7.2 Bn boe
60%
Total
12 Bn boe
100%
YTF = OSH Jun 2015 benchmarked against USGS & others
Hides
Antelope
P’nyang
60% of PNG’s total petroleum resource
….. and giant fields remain YTF
0
1,000
2,000
3,000
4,000
5,000
6,000
0 100 200 300
Well Number
4.8 bn boe
Cumulative Discovered P50
Recoverable Resource (mm boe)
| PAGE 6
PLATE MODEL
NOVEMBER 2017
60 Ma
50 Ma
40 Ma
30 Ma
20 Ma
15 Ma
10 Ma Zahirovic et al, 2014
Late Cretaceous
to Present
Upper mantle slabs
Lower mantle slabs
Upwelling from
core-mantle boundary
N S
Heat flow
Structural & depositional
setting
| PAGE 7
COMPLEXITY
NOVEMBER 2017
Deepwater
Foldbelt Central Interior Internal Zones Frontal Foreland
Foldbelt
Deepwater
Multi- proven & new plays
Regional consistency
– Cross Sections
– Chronostratigraphy
– GDE & CRS
| PAGE 8
FOLDBELT
NOVEMBER 2017
Complex prolific oil & gas petroleum system
Kutubu
(1985)
Hides
(1987) Angore
(1989)
Moran
(1996) Agogo
(1989)
SE Mananda
(1991)
Juha
(1982)
Muruk
(2016)
Mananda
(2010)
Interior Foldbelt Frontier
Prospect
Central
Highlands Hub
Produced
> 500 mm bbl
since 1992
NW Highlands Hub
Discovered > 10 Tcf
of Gas
| PAGE 9
1D MODEL
NOVEMBER 2017
Traditional approach for predicting HC generation
1D burial history 1D transformation ratio
Pre-Tertiary dynamic uplift
Tertiary subsidence Foldbelt uplift
| PAGE 10
FOLDBELT MODELLING
NOVEMBER 2017
Predicting petroleum entrapment demands 4D consideration
400 km
Consistent balanced cross-
sections characterise Papuan
Basin petroleum systems
Image from the National Oceanic and
Atmospheric Administration (NOAA)
NW Foldbelt
| PAGE 11
2D STRUCTURAL TEMPLATE
NOVEMBER 2017
Constraining timing of trap & HC migration
Lower Crust
Extended Upper Crust ‘Basement’
N S
10 km
3-4 cm per year
12 Ma
Today
| PAGE 12 NOVEMBER 2017
2D FOLDBELT THERMAL MODEL
Syn-tectonic source maturation & phase prediction
Temperature model Pre-thrust template
Deformed section Fluid prediction • Hangingwall
• Footwall
| PAGE 13 NOVEMBER 2017
5 km
50 km
Pandora
Trough
Pasca Ridge Darai Shelf Western Foreland
Base Tertiary Mega-Sequence Boundary
Mesozoic Absent
1,500 km
DYNAMIC TOPOGRAPHY
Constrains basin architecture &
prospectivity in Papuan Gulf Cenomanian to Early Eocene
(100 - 50 Ma) 1,500 km
NW SE
Mesozoic Present
40 km
| PAGE 14
OFFSHORE PAPUAN GULF
NOVEMBER 2017
Emerging petroleum system
2013 Flinders 1 & Hagana 1
Proved 45 m net
Turbidite sand reservoir
9 m gas column
New Play Opener
2016 Review of Plio-Pleistocene
Clastic systems
| PAGE 15
CONTROLS ON GDE
NOVEMBER 2017
10 million years
Interplay of sea level & accommodation space
Gulf of Papua
Controls on
Plio-Pleistocene
Clastic systems
| PAGE 16
CARBONATE PLAYS
NOVEMBER 2017
Countrywide depiction of depositional environments
Example Darai
carbonate platform
& Puri basin
| PAGE 17
OFFSHORE CLASTIC PLAYS
NOVEMBER 2017
Visualising proven & prospective petroleum systems
Present Day Papuan Gulf Present GDE
4D modelling of palaeo-bathymetry and offshore clastic petroleum systems
| PAGE 18
4D PETROLEUM SYSTEMS MODEL
NOVEMBER 2017
Foldbelt
Modelling HC
generation &
migration in 4D
1D Basin
Models (wells & pseudo-wells
to top basement)
Shows & Migration
Visualisation
Top Toro map
| PAGE 19
4D PETROLEUM SYSTEMS MODEL
NOVEMBER 2017
Trinity 3D charge prediction
(Present day)
Foldbelt
Imburu Source Transformation Ratio
(Present day)
| PAGE 20
4D PETROLEUM SYSTEMS MODEL
NOVEMBER 2017
Offshore
Modelling HC generation
& migration in 4D Moho
Shows & Migration Visualisation
| PAGE 21
Substantial YTF & big fields
Oil Search well positioned with
proactive long term strategy in PNG
Holistic 4D modelling continues to
identify new prospectivity
Expect more exploration
breakthroughs as we continue to
leverage technology in 2018
RECAP
NOVEMBER 2017
OIL SEARCH LIMITED | ARBN 055 079 868 | ASX: OSH | POMSoX: OSH | US ADR: OISHY
www.oilsearch.com
November 2017
THANK YOU
| PAGE 23
ACKNOWLEDGEMENT & DISCLAIMER
NOVEMBER 2017
While every effort is made to provide accurate and complete information, Oil Search Limited does not warrant that the
information in this presentation is free from errors or omissions or is suitable for its intended use. Subject to any terms
implied by law which cannot be excluded, Oil Search accepts no responsibility for any loss, damage, cost or expense
(whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in information in this
presentation. All information in this presentation is subject to change without notice.
This presentation may contain forward-looking statements which are subject to particular risks associated with the oil and
gas industry. Oil Search Limited believes there are reasonable grounds for the expectations on which the statements are
based. However, actual outcomes could differ materially due to a range of factors including oil and gas prices, demand for
oil, currency fluctuations, drilling results, field performance, the timing of well work-overs and field development, reserves
depletion, progress on gas commercialisation and fiscal and other government issues and approvals.
Thanks to the Oil Search Exploration Team & JV Partners that have contributed