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Hunt Projects in Peru B88/B56 TGP Pipeline CAMISEA PROJECT PERU LNG Pluspetrol 27.2% * Hunt Oil 25.2% SK 17.6% Repsol 10.0% Sonatrach 10.0% Tecpetrol 10.0% LNG Plant & Pipeline Hunt Oil 50.0% * SK 20.0% Shell 20.0% Marubeni 10.0% Hunt Pipeline Co. Original participant in TGP. 2000-14 Sold 22.4% position To Enagas in 2014 Exploration Hunt Oil 35.0% * Repsol 35.0% Pluspetrol 30.0% * Operator BLOCK 76 Dahuene 1X Malvinas
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CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

Apr 11, 2020

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Page 1: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

Hunt Projects in Peru

B88/B56 TGP Pipeline

CAMISEA PROJECT PERU LNG

Pluspetrol 27.2% *Hunt Oil 25.2%

SK 17.6%

Repsol 10.0%

Sonatrach 10.0%

Tecpetrol 10.0%

LNG Plant & Pipeline

Hunt Oil 50.0% *SK 20.0%

Shell 20.0%

Marubeni 10.0%

Hunt Pipeline Co.

Original participant

in TGP. 2000-14

Sold 22.4% position

To Enagas in 2014

Exploration

Hunt Oil 35.0% *Repsol 35.0%

Pluspetrol 30.0%

* Operator

BLOCK 76

Dahuene 1XMalvinas

Page 2: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

LEYEND:

Relinquishment area (2nd Period)

Relinquishment area (3rd Period)

Retained area for 3rd Period.

Base Camp

2

Block 76 Exploration

Page 3: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

September 2016

May 2015

3

Block 76 Exploration

Page 4: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

PERU LNG

PERU LNG is a Peruvian

company that was

incorporated in 2003.

It consists of four world-

class leaders of the

energy industry:

50%20%

20%

10%

SK (South Korea)

Shell (Holland)

Marubeni (Japan)

4

Page 5: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

5

PERU LNG

Page 6: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

6

PERU LNG

Page 7: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

Truck Loading Facility (TLF)

7

PERU LNG

Page 8: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

PCChiquintirca

Loop 34” PLNG (408 Km)Loop 24" (105 Km)

HUMAY

PLNG

CHILCA

LURIN

MALVINAS

32” (208 Km) 24” (310 Km) 18” (211 Km)

14” (450 Km) 10” (110 Km)

PISCOPS1 PS2 PS3 PS4

NG730 Km

NGL560 km

Source: Perupetro

Source: Perupetro and Osinergmin

8

TGP and PLNG Pipelines

Page 9: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

B57 74 71

B56 1 5 267 579 577 617 519 414

B88 33 80 108 194 259 278 372 456 490 506 599 632

Other 33 36 43 50 50 73 64 69 73 60 61 65 77 56 58 92

0

200

400

600

800

1000

1200

1400

MM

cfd

B57 B56 B88 Other

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

B57 6 5

B56 10 34 33 35 37 38 38 32

B88 18 32 35 34 31 37 47 45 46 63 58 52

Other 4 3 4 5 4 4 3 3 3 3 4 4 4 4 2 3

0

20

40

60

80

100

120

MB

bls

/d B57 B56 B88 Other

Peru Natural Gas Production (Sales)2000 - 2015

Peru NGL Production2000 - 2015

Natural Gas Outlook -- Peru

9

Page 10: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

0

1

2

3

4

5

6

7

8

9

10

-

200

400

600

800

1,000

1,200

1,400

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016*

$/M

MB

TU

$M

M

Total Royalties from NG & NGLsB56, B57 & B88

B88 B56 B57 Henry Hub

Source: Perupetro* July 2016

Accumulated royalties as of July 2016 is over $8B

10

Natural Gas Outlook -- Peru

Page 11: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

Camisea Natural Gas Sales2004 - 2015

10 11 18 29 37 29 33 37 34 33 37 290 5 18 33 47 60 82 98 112 127 146 157

32 5865

125168 180

244

305328 323

377 382

00

0

0

1 1

262

575570

613536

455

0

200

400

600

800

1000

1200

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

MM

SCFD

Industrial Distribution Power Generation Peru LNG

Source: Camisea Consortium.

11

Natural Gas Outlook -- Peru

Page 12: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

Forecast Camisea Natural Gas Sales2016 - 2021

41 42 43 44 45 45

170 185 202 222 227 233

413 433455

469 483 497

620620

620620 620 620

0

200

400

600

800

1000

1200

1400

1600

2016 2017 2018 2019 2020 2021

MM

SCFD

Industrial Distribution Power Generation Peru LNG

Source: Hunt estimates.

12

Natural Gas Outlook -- Peru

Page 13: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

13

Natural Gas Outlook

Page 14: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

14

Natural Gas Outlook

Page 15: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

15

Natural Gas Outlook

Page 16: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

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U.S. Natural Gas Net Imports from Canada (Bcf/d)U.S. Natural Gas Pipeline Imports From Canada

U.S. Natural Gas Pipeline Exports to Canada

Net Imports from Canada

Natural Gas Outlook

Page 17: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

17

Natural Gas Outlook

Page 18: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

18

Natural Gas Outlook

Page 19: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

19

Natural Gas Outlook

Page 20: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

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Natural Gas Outlook

Page 21: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

0

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Jan-2016 Jan-2017 Jan-2018 Jan-2019 Jan-2020

LNG

Exp

ort

Cap

acit

y (B

cfd

)U.S. LNG Exports

LNG Export Capacity (Bcfd)

21

Natural Gas Outlook

Page 22: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

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U.S. Natural Gas Net Imports in 2016 at Lowest Level Since 1986 (Bcf/d)

U.S. Natural Gas Imports

U.S. Natural Gas Exports

U.S. Natural Gas Net Imports

Natural Gas Outlook

Page 23: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

Worldwide Gas Price Evolution

23

Natural Gas Outlook

Page 24: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

RBC Capital Markets24

Global LNG Landscape

United States China

Japan

Korea

Europe

India

Asia & Pacific

Canada

Russia

Australia

South &

Central

America

Africa

Qatar & Area

Average Sailing Days to China/Japan

Exporter (Supply)

Importer (Demand)

Size of each bubble represents relative scale of supply / demand in 2020E

10 Days

13-15 Days

7-8 Days

Asia Pacific:

~56% of Global

Demand by 2020E

Europe:

~14% of

Global

Demand by

2020E

Source: As per RBC Research; International Gas Union World LNG Report

Latin

America:

~13% of

Global

Demand by

2020E

Proposed Canadian LNG projects are competing with

key global exporters Australia, West Africa, Qatar,

Russia and the United States

?

5 10 1Bcf/d:

Natural Gas Outlook

Page 25: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

• Global LNG supply + demand outlook

25

Natural Gas Outlook

Page 26: CAMISEA PROJECT PERU LNG BLOCK 76 - 3 de octubre · Camisea Natural Gas Sales 2004 - 2015 100 115 1818 29 37 293337 34 37 33 47 60 82 98 112 127 146 157 32 58 65 125 168 180 244 305

THE END

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