1. E VALUATION OF THE S IRRI P ROSPECT A REA Hamed Kamel PEEG Fahd Al-Hashmi PGEG Khaled Aness PGEG Ahmed Al-Belooshi PEEG Engineering Staff:

2. Project Objectives Field Background Field Seismic Interpretation Field Exploration Plan Field Development Plan Economic Analysis HSE Awareness Recommendations

3. O BJECTIVES Client’s Letter Seismic interpretation, exploration and development plans and economic analysis Give recommendation on whether to proceed with the project or not

4. F IELD B ACKGROUND

5. G EOGRAPHICAL REFERENCE (1) – Long 54 33 11.0E and Lat 25 39 54.2N (2) – Long 54 38 57.2E and Lat 25 59 27.0N (3) – Long 54 26 18.0E and Lat 25 44 45.6N (4) – Long 54 45 50.7E and Lat 25 54 35.0N

6. S EISMIC I NTERPRETATION Rationale Methodology Manual Interpretation Software Interpretation Results

7. S EISMIC M ANUAL I NTERPRETATION Contouring maps Structure analysis Spill point determination Finding the depth (velocity * time ) Results: Structure: Anticline OOIP= 7.90 billion bbl. Spill Point N

8. C OMPUTER I NTERPRETATION  Picking horizons  Miss tied correction  Create TWTT contour map  Depth map  Find Area, volume and reservoir thickness

9. C OMPUTER I NTERPRETATION Picking horizons Top Mishrif Bottom Mishrif

10. C OMPUTER INTERPRETATION Before correctionAfter correction Line Miss-tie (ms) 18-55.960.14 BeforeAfter o Miss-tie correction

11. C OMPUTER I NTERPRETATION Create TWTT contour map Bottom contour map Top contour map N N

12. C OMPUTER INTERPRETATION Creating Depth maps Depth (m) = Velocity(m/s) * Time (s) N Depth map of the top reservoir

13. C OMPUTER INTERPRETATION Constructing a Thickness Map Thickness= (Bottom of reservoir- Top of reservoir/2)*3800 m/s Spill point Thickness map showing oil water contact Spill point N

14. S EISMIC I NTERPRETATION R ESULTS Anticline structure Area: 93km 2 Average thickness: 24.6 m OOIP=Porosity*(1-Sw)*volume = 2.5 Billion bbl

15. E XPLORATION AND D EVELOPMENT P LAN Methodology Location of Exploration wells Rig selection Scenarios Demonstration Production Forecast Production Facility Options Economic Indicators

16. F IELD E XPLORATION P LAN Location of Wildcat Well: o One well at the center of the potential reservoir o Purpose Location of Delineation Wells: o Four delineation wells at the borders o Purpose

17. F IELD E XPLORATION P LAN Delineation wells Wildcat well N

18. F IELD E XPLORATION P LAN Rig selection Jack up IS 300' WD Reasons Water depth 300’ Low Cost  $82,333 per day More working rigs

19. F IELD D EVELOPMENT P LAN Types of wells: 500 m Vertical, 1000m Horizontal and 2000m Horizontal Different drainage area and different cost for each type Methodology: At the center of the reservoir

20. W ELL P ROFILES Production Profiles V(500m)H(1000m)H(2000m) Initial flow rate4000650013000 OOIP in drainage area (MMSTB) 19.825.250.4 Cumulative Oil Production (MMbbl) 78.6135.3266.0 Cumulative Water Production (bbl) 4,415,8827,024,74513,624,578 EOR Start3 rd Year

21. F IELD D EVELOPMENT P LAN Production Profile

22. F IELD D EVELOPMENT P LAN Production Profile

23. F IELD D EVELOPMENT P LAN Well Type Key :

24. F IELD D EVELOPMENT P LAN Well Type Key:

25. F IELD D EVELOPMENT P LAN Type of well Scenario IScenario II No. of wells 500 Vertical228 1000 Horizontal39 2000 Horizontal3031 Total5548

26. S CENARIO SELECTION

27. ScenarioCumulative Oil Production (billion bbl) Scenario 1 1.3 Scenario 21.7

28. C OMPARISON SUMMARY Scenario 1: More wells (55) ∑ Oil production (1.3 billions bbl) Scenario 2 : Less wells (48) ∑ Oil production (1.7 billions bbl)

29. F IELD D EVELOPMENT P LAN Data Set Vertical Drilling Cost($/ft )610 Horizontal Drilling Cost($/ft )660 Drilling Penetration rate (ft/day) 432 Jack up IS 300' WD ($/day) 82,333 Standby rate ($/day) 41,167 Acid stimulation rate ($/ft) 2,000 Tie-in Cost per well ($) 500,000 V(500m)H(1000m)H(2000) Drilling Cost (MM $) 61524

30. P RODUCTION FACILITIES Three different production facilities were applied to each scenario: o FPSO only (Floating Production, Storage and Offloading unit) o Platform only o FPSO & Platform Select based on the Economic Analysis

31. P RODUCTION F ACILITIES Platform Construction (2 years) Cost: $350million Facilities Gas – Oil separation facility Water treatment facility Pipeline Fluid separation, processing & treatment Gas processing Oil treatment Water treatment

32. P RODUCTION F ACILITIES FPSO Oil production cost 190,000 $/day + Variable rate $14/bbl

33. CAPEX

34. OPEX

35. P RODUCTION F ACILITIES O PTIONS Platform PeriodTotal ExpensesRevenueDis. Net Cash flow YearMM$ 1 4940-450 2 6320-523 3 941438-378 4 1,0912,469941 5 1,4443,5771,324 6 1,7454,7691,707 7 2,0516,5642,316 8 2,3648,1412,695 9 2,2259,6473,148 10 2,29211,1903,431 11 2,59910,7172,845 12 2,27611,1612,831 13 1,42612,3143,154 14 1,19611,1072,610 15 9166,8761,427 27,078

36. P RODUCTION F ACILITIES O PTIONS FPSO PeriodTotal ExpensesRevenueDis.Net Cash flow YearMM$ 1 247 432168 2 944 2,4351,232 3 1,287 3,5281,684 4 1,659 4,7042,080 5 2,251 6,4762,623 6 2,741 8,0322,987 7 3,183 9,5193,251 8 3,660 11,0433,444 9 3,366 10,5773,058 10 3,559 11,0162,875 11 3,917 12,1552,888 12 3,370 10,9642,420 13 2,081 6,7881,363 14 1,715 5,5881,020 15 1,225 3,795615 31,708

37. P RODUCTION F ACILITIES O PTIONS FPSO + Platform PeriodTotal ExpensesRevenueDis. Net Cash flow YearMM$ 1 636 432-186 2 1,176 2,4351,040 3 917 3,5281,962 4 1,132 4,7042,440 5 1,419 6,4763,140 6 1,733 8,0323,555 7 2,080 9,5193,817 8 2,389 11,0434,037 9 2,323 10,5773,500 10 2,371 11,0163,333 11 2,570 12,1553,360 12 2,383 10,9642,734 13 1,577 6,7881,509 14 1,055 5,5881,194 15 746 3,795730 36,167

38. S ELECTED F ACILITY PlatformFPSOFPSO+Platform Discounted(10%) NCF(MM$) 27,07831,70836,167

39. E CONOMIC A NALYSIS

41. E CONOMIC I NDICATORS

42. HSE A WARENESS Seismic survey: Air guns effect on marine life Exploration: Reef life destruction & hydrocarbon leakage Development: CO 2 emission

43. C ONCLUSION & R ECOMMENDATION Conclusion: Jack up used for drilling Both (FPSO+Platform) Scenario 2 Recommendation: Start drilling exploration well If hydrocarbons found, we recommend PI ENTERPRISES to start drilling using the 2 nd scenario If not, do not proceed with drilling