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2013 HALF-YEARLY RESULTSJubilee field on track to exit year at over 120,000 bopdCurrent production stable• Existing wells stable and productivity stable post acid jobs• Initial Phase 1A wells onstream and performing to target• Well capacity now ~130,000 bopd• Production stable at ~110,000 bopd, constrained by gasFPSO capacity being optimised over Q3• Gas compression upgrade on track• Additional gas injection well being drilled• Water injection pump replacement required• First full shutdown scheduled for September• Remaining Phase 1A wells will be completed as needed• Target remains to exit year > 120,000 bopdFuture expansion potential being worked• Full Field Development Plan being discussed with Government• Options to increase FPSO capacity under review toaccelerate production and provide tie-back optionsSlide 16
2013 HALF-YEARLY RESULTSTEN development – approval received and project underwayRecent well results encouraging• Enyenra-6A confirms deeper OWC• Nt-04 confirms OWC and supports water injection plans• Base case reserves of initial development ~300mmboePoD approved; contract awards in progress• Base plan of 24 wells• FPSO capacity of 80,000 bopd• Major FPSO and Subsea contract awards in progress• First oil by mid-year 2016• Gross development capex of ~$4.9bn + leased FPSOTullow capex exposure being managed• Tullow net capex to first oil ~$1.5bn (10 wells)• Farmdown process initiatedmmboe P90 P50 P10TEN Reserves & Resources * 200 360 600Oil/Gas Ratio (%) 80:20 70:30 60:40* Excludes prospective resourcesSlide 17
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