IFRS FINANCIAL AND OPERATING RESULTS FOR FIRST QUARTER 2013
IFRS FINANCIAL AND OPERATING RESULTS FOR FIRST QUARTER 2013
IFRS FINANCIAL AND OPERATING RESULTS FOR FIRST QUARTER 2013
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UPSTREAM PROJECT DEVELOPMENT UPDATE<br />
International<br />
Projects<br />
<strong>IFRS</strong> <strong>FINANCIAL</strong> <strong>AND</strong> <strong>OPERATING</strong> <strong>RESULTS</strong> <strong>FOR</strong> <strong>FIRST</strong> <strong>QUARTER</strong> <strong>2013</strong><br />
1Q <strong>2013</strong> Key events: <strong>2013</strong> Major goals:<br />
Iraq (Badra): Drilled second well<br />
(Bd5). Tested first of five<br />
formations at exploration well Bd4<br />
(2,000 bpd). Concluded EPC<br />
contract with Samsung for gas<br />
infrastructure<br />
Venezuela: Transferred<br />
operatorship to Rosneft<br />
NIS: Began drilling deep<br />
exploration well to estimate<br />
unconventional resources. Tested<br />
small-bore drilling technology.<br />
Completed seismic acquisition at<br />
two sites in Serbia. Drilled first well<br />
in Romania.<br />
Kurdistan: Demining, preparation<br />
for seismic study. Expanded<br />
operations on Halabja block<br />
Iraq (Badra): Test three wells. Start drilling<br />
under second contract. Launch first train<br />
infrastructure units. Begin work on second<br />
phase of field camp and gas infrastructure<br />
Venezuela: Continue drilling under exploration<br />
and first oil programs. Complete pre-FEED for<br />
infrastructure and upgrader.<br />
NIS: Drill six E&A wells, accelerate seismic<br />
program. Begin exploration drilling in Bosnia,<br />
Hungary and Romania<br />
Kurdistan:<br />
• Shakal: Complete seismic, drill<br />
exploration well<br />
• Garmian: Complete seismic, drill five<br />
exploration wells<br />
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