Changing times in oil an gas and the VUCA world Volatile Uncertain Complex Ambiguous “The new normal” but we can adapt to survive and thrive - Vision Understanding Clarity Agility Volatile Uncertain Complex Ambiguous

A short History and Evolution of Decision Tools (a simplistic picture) Over time individual and combinations of tools have grown organically in the sphere of “evaluation” We need a new approach that addresses the questions from a 21st century perspective, using 21st century techniques.

The ABIS Insight model 21st Century Challenges require 21st century solutions Our tools utilise the latest software delivery mechanisms and programming tools to increase speed and effectiveness Our tools and techniques begin with the identification of goals/opportunities and aligning organisations to achieve/maximise these. Unlike other offerings on the market, the ABIS business model has not evolved organically over time, absorbing often inefficient practices. The ABIS model has been designed from first principles, adopting leading edge approaches, to suit the needs of an increasingly challenging oil and gas investment market.

Unit cost and effectiveness focus How do we effectively remain competitive in a sub $50 oil world. Guard against the lows and exploit the highs? Unit Cost Currently Circa $38/bbl Unit Cost How low can we go?? What are ABIS Doing to help achieve this? Working with new operator to implement a new approach to MER Working with OGTC to evaluate and nurture new technology Close working links with academia to embrace new thinking Growing collaborative and cooperative relationship with OGA

A new approach to Decision making The ABIS Insight Model A new approach to Decision making

3 Themes – Understanding, Knowledge, Application 6 Core Workstreams – Teams, Priorities, Economics, Risks & Issues, Project, Programme 3 Themes – Understanding, Knowledge, Application Organisation and Development Purpose, Values, Vision 5 Elements K&I Test Strategy Development and Priorities Brainstorming Matched Pairs Economic Modelling Scenario Development Scenario Analysis Risk and Issues Management Deterministic Probabilistic Project Configuration Work / Cost Breakdown Resources Baseline Programme Management Standardise Simplify

Establish Baseline Evaluate Scenarios Opportunities Review Implement

Who needs our model and why? Regulator : Easy way to evaluate new developments and area strategies on a “flat equity” basis and assess impact of legislative change. Operator: Dynamic decision making to quickly evaluate and optimise opportunities Industry bodies: Ability to quickly evaluate impact of legislative/technological/structural changes Supply Chain: Ability to engage with operators in a “value discussion” rather than a “cost discussion” using tools and techniques usually only available to operators.