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Talisman in Sabah 3 rd SOGCE, 26 th & 27 th May 2014

Talisman in Sabah 3 rd SOGCE, 26 th & 27 th May 2014. 2014 capital expenditure is expected to be approximately $3.2 billion Over 70% of expected 2014 capital spending will be invested in the Americas and Asia-Pacific. TALISMAN GLOBAL OPERATIONS WITH 2 CORE AREAS.

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Talisman in Sabah 3 rd SOGCE, 26 th & 27 th May 2014

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  1. Talisman in Sabah3rd SOGCE, 26th & 27th May 2014

  2. 2014 capital expenditure is expected to be approximately $3.2 billion Over 70% of expected 2014 capital spending will be invested in the Americas and Asia-Pacific TALISMAN GLOBAL OPERATIONS WITH 2 CORE AREAS • 2014 production guidance: 350 - 365 mboe/d • Talisman 2 core regions (Americas and Asia Pacific) expected to contribute 90% of production ASIA PACIFIC AMERICA Safer, Better, Faster & at a Lower Cost

  3. Asia-Pacific – Core Areas with Exciting Growth Options Km 0 500 1,500 1,000 Vietnam HST/HSD Vietnam Nam Con Son Sabah Basin Malay Basin Tangguh Papua New Guinea South Sumatra Core areas Additional Assets Exploration Kitan/LamCor

  4. TALISMAN MALAYSIA OPERATION • Sabah • An exciting new growth area • Kinabalu • PSC signed May 2012 • Exploration SB309 & SB310 • 3D seismic and multi-well programme

  5. Sabah: Oil infrastructure and emerging Gas market SB 309 & SB310 New Project (Onshore) Existing Facility Malaysia Brunei Malaysia Tuaran Sabah Gas Terminal (SBGAST) Indonesia Indonesia Kimanis Sabah Oil and Gas Terminal (SOGT) KINABALU Sabah Sarawak Gas Pipeline (SSGP) Labuan Island Labuan Crude Oil Terminal (LCOT) KEY Summary: Established Hydrocarbon province Exploration for Light Oil & Wet Gas Shallow water Infrastructure acquisition options Emerging Gas market (>4 USD / mcf) Bintulu (Sarawak) Malaysia LNG Sdn.Bhd. (MLNG)

  6. Sabah: 2H2013 / 1H2014 – A transformative time Petronas appraise Nosong Shell/Conoco identify 136m oil column in Limbayong during appraisal PCSB Rotan FLNG FID PetronasCarigali oil discovery at Wakid Siakap Development Kebabangan (KPOC ) online in 2014 ~500 mmscf/day 30% of Murphy Malaysia for sale PetronasVestigo awarded small fields Shell’s Gumusut EPS working. FPSO not fully operational KNAG operational at 150 mmscf/day KEY Sabah-Sarawak Gas pipeline operational Shell & Total continue seismic & drilling in similar plays in Brunei Champion complex Summary: Active Exploration/ Development/ Production Greater Sabah Area

  7. 2012 Kinabalu Oil PSC Overview Kinabalu – Location Map Kinabalu – Block Details • Block: SB1 Kinabalu • Cum. Oil Production @1/1/14 = 97 MMstb • 20 Development Wells (20 active strings) • New 2012 Kinabalu OilPSC • First PSC handover to operator other than PETRONAS Carigali • First progressive volume PSC to encourage brownfield redevelopment • First infill well : 9 months following transfer of operatorship • Redevelopment project, Select to Define : 10 months following transfer of operatorship Samarang Complex (PCSB*) KNAG (PCSB) Kinabalu KNDP-A Labuan LCOT (SHELL)

  8. Sabah SB310 & SB309: PSC Overview SB-309 -100% WI, 70% EI • Partners: TML (70%), PCSB (30%) • PSC Signed; Effective Date - 26th October 2009 • Expiry: 25th Oct 2015 • Exploration period: 6 years • Current Activities: Exploration 3 Wells Kinabalu Field 5 Wells SB-310 -100% WI, 70% EI • Partners: TML (70%), PCSB (30%) • PSC Signed; Effective Date - 26th October 2009 • Expiry: 25th Oct 2015 • Exploration period: 6 years • Current Activities: Exploration

  9. Kinabalu Redevelopment Objectives • To add 25.9 MMstb @ 1/1/32 to the oil proved developed reserves and achieve a RF of ~ 40 % • To achieve first oil by Q3 2016 and increase oil production to ~ 20,000 bopd rate. • To potentially process hydrocarbons from TML nearby Exploration KinabaluArea Exploration Prospects

  10. Laying the Sabah Foundation • UMS Scholarships • 6 scholarships to be given in 2014 • INSTEP KimanisScholarships • In the planning stage • 35 Sabahans already in TML • 14 in the Kinabalu team

  11. Building aTechnical & Operational Presence • KL Based • Reservoir Engineer • G&G Graduate • Mechanical Engineer • KK Based • Piping Engineer • Labuan Based • Senior Offshore roles

  12. EnergizingOurFuture Strong academic & co-curricular credentials Compelling CV & Cover Letter Basic Knowledge – Industry/Job Experience / Engagement Soft Skills - The X Factor

  13. LearnMoreAboutUs: • http://www.talisman-energy.com

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