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Tullow Oil – Uganda’s Oil & Gas Industry

27 August 2011 . Tullow Oil – Uganda’s Oil & Gas Industry. By Elly Karuhanga, President Tullow Uganda . Contents. About Tullow Oil. Tullow in Sub-Saharan Africa. Africa’s leading independent oil and gas exploration and production company Tullow is a FTSE 100 company Listed on the :

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Tullow Oil – Uganda’s Oil & Gas Industry

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  1. 27 August 2011 Tullow Oil – Uganda’s Oil & Gas Industry By Elly Karuhanga, President Tullow Uganda

  2. Contents

  3. About Tullow Oil

  4. Tullow in Sub-Saharan Africa • Africa’s leading independent oil and gas exploration and production company • Tullow is a FTSE 100 company • Listed on the : • London stock exchange • Irish stock exchange • Ghana stock exchange • Operating in 15 different countries in Africa • Mega Projects Uganda and Ghana • Ghana: Jubilee field to reach plateau of 120,000 bopd by year end • Uganda: final development plan will detail delivery of production in excess of 200,000 bopd Uganda: > 1.1 billion barrels discovered (P50); 1.4 billion barrels yet to find (P50)

  5. Tullow Oil in Uganda Tullow History in Uganda: - Energy Africa 2004 (in Uganda since 2001) - Hardman in 2007 - Heritage in 2010 • Farm down to CNOOC and Total • Tullow Uganda has >200 staff (85% Ugandan) • 2015 – Target for achieving oil production (from primary phase of production) • Q4 2011 – sale of crude oil produced by testing Tullow is committed to investing in Uganda for the Long term

  6. Exploration and development update

  7. Update on exploration activity in Uganda World-class basin discovered • High success through technical excellence • 96% E&A success ratio – • 43 out of 45 wells successful Ugandan Resources Discovered Resources > 1.1 billion bbls >2.5bn boe Future potential 1.4 billion bbls Together with our new partners, Total and CNOOC, Tullow is working with the Government of Uganda to transform this discovery into a world class development ~ 20 discoveries

  8. Basin Development Concept • Field developments: Upstream • Multiple oil fields • Gathering system: Midstream • Collection Hub • Storage for onward transport • Distribution: Downstream • Refinery • Power generation • Export of excess crude (road, rail, pipeline) • to international market Basin production potential is in excess of 200,000 bbls/day

  9. Timeline for Development Development Strategy Boepd • Phased Development • Growth throughout the Petroleum Industry value chain • Proving Environmental Performance • Allowing the National Institutions to gain experience 100,000’s 10,000’s Regional & Beyond 1,000’s Uganda Focus Test & Early Development • Trucking & Pipe • Refining Full Basin Development 0 - 2 years 2 - 5 years 5 - 10 years

  10. Importance of support infrastructure • Upgraded local road network • Improved connectivity with other parts of the country • New airfields • Harbour to support lake drilling

  11. Project investment 10 billion US$ billions – US$ 8 Upstream - exploration Upstream - development Refinery Refinery Pipeline Pipeline Total Total • With phased development comes phased investment • Significant expenditure on downstream infrastructure is required to unlock oil production • Regional refinery • Excess crude export pipeline • Roads/rail for distribution of refined products • Air for personnel and equipment movement

  12. Challenges: moving from Exploration to Development Oil field Lifecycle • Legislative Climate • Building an attractive investment climate • International players and local entrepreneurs Explore & Appraisal • Environment & Communities • Pristine, sensitive environment • Land based development Develop • Skills • Shortage of oilfield skills in region • Requirement to rapidly build capacity Produce • Transparency • Unprecedented levels of investment & revenue • Transparency essential Decommission

  13. Environmental aspects

  14. Way Forward for Environmentally world-class development • We are operating in a sensitive environment, therefore need to operate a world class development • Undertake Environmental and Social impact assessments • Work in collaboration with our regulators; NEMA, UWA, PEPD and other government agencies • Adhere to environmental regulatory requirements • Adhere to international Oil and Gas Safety standards in all our operations • Waste disposal for zero environmental impact Through working with local and international partners, this development will set new standards for development in harmony with the natural environment

  15. Opportunities in Oil and Gas

  16. Development of Local Skills and Employment Opportunities • It is estimated that the industry will create 10,000 jobs • Ugandan entrepreneurs must step up to the challenge of establishing oilfield service companies • Training will be made available (through public and private ventures) so that all Ugandans can participate • Local employment • Employing over 1,500 locals from Hoima and Buliisa District • 85% Ugandan employees in the company • White collar workers • Technical: Qualified engineers, geologists etc • Business: Lawyers, accountants, managers etc • Artisans (Technicians) • Pipefitters, welders, masons, carpenters • Drillers, Operators • Labourers • Rig workers, security guards, helpers Development of Local Content capabilities, appropriate for all levels of the industry, is key to the success of the industry

  17. Business & Employment Opportunities in the Oil Industry • Many of these services will be available but will need to be further developed and supported to meet the industry and expectations • Opportunities to provide both direct and indirect services • Specialist services and capabilities take time and investment to develop Development of Local Content capabilities, appropriate for all levels of the industry, is key to the success of the industry

  18. Partnership with Local Communities • Working in partnership with Local Communities is essential to ensure that everyone benefits from the onset of the industry • Tullow works in a variety of arenas with local and international specialists on a number of Social Enterprise projects • Healthcare • Education • Enterprise development • Environment • Investments at a community level will be • up-scaled with the onset of development Local Communities are an integral part of a successful oil development

  19. In Conclusion • Uganda’s economy is set to transform • It will also be transformational for the region • Ugandans must be a part of this journey • This is an opportunity for Uganda to set a new standard in Africa Uganda is at the dawn of a new era This is history in the making

  20. Tullow Uganda Operations Pty Ltd Plot 15, Yusuf Lule Road P. O. Box 16644 Kampala, Uganda Tel: +25 6312564000 Fax: +25 6312564066

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