Equinor Bra zil Shaping the future of energy August 20 18 Equinor Bra zil This presentation, including the contents and arrangement of the contents of each individual page or the collection of the ges, pais owned by Equinor. Copyright to a ll ma te ria l including, but not limite d to, writte n ma te ria l, photogra phs, dra wings, ima ges,tables and data remains the property of Equinor. All rights reserved. Any other use, reproduction, translation, adaption, arrangement, alteration, distribution or storage of this presentation, in whole or in part, without the prior written permission of Equinor is prohibited. The information contained in this presentation may not be accurate, up to date or applicable to the circumstances of any particular case, despite our efforts. Equinor cannot accept a ny lia bility for a ny ina ccura cie s or omissions.
The Equinor journey Equinor core areas Equinor presence *does not include offices without assets 2 Equinor Bra zil : Shaping the future of energy
Our values At Equinor, the way we deliver is as important as what we deliver Open Colla bora tive Courageous Ca ring We promote transparency. We embrace diversity and new perspectives. We raise ethical dilemmas and act with integrity. We work together as one team. We share knowledge and help each other succeed. We engage with, respect and earn the trust of our business partners and society. We are curious, innovative and comme rcia l. We continuously improve. We use foresight, identify opportunities and manage risk. We seek zero harm to people. We respect each other and contribute to a positive working environment. We act in a sustainable, ethical and socia lly re sponsible ma nner. 3 Equinor Bra zil : Shaping the future of energy
De ve lop ing a d istinct a nd compe titive p ortfolio Norwegian continental shelf International oil & gas Build on unique position Deepen core areas Highly cost compe titive Attra ctive project pipeline Explora tion potentia l Enha nce Bra zil portfolio Flexible US position New growth options Johan Sverdrup Midstream and marketing Always safe, High value, low carbon New energy solutions Peregrino Access premium ma rkets Industrial approach Kå rstø Flow assurance Asset backed trading Capita l light Offshore wind focus Low-carbon solutions Ve nture s, R&D Offshore wind 4 Equinor Bra zil : Shaping the future of energy
Our Brazil journey A long way in a short time 16 0 million bbls sa fely offloa ded Roncador: a cq uisition of 25% from Petrobras 10 0 million bbls in four years Acquisition of Uirapuru * and Dois Irmãos* blocks Anadarko: 50 % @ $1.8 bn EnCana: 50 % @ $0.3 bn Wellhea d pla tforms insta lled 100 000 bbls per day Peregrino Pha se II sanctioned BM-C-33: Transfer of operatorship Apodisola r : acquisition of 43.75% Country entry Peregrino first oil BM-C-33: Pão de Açúcar d iscove ry Six license s in Espirito Santo BM-C-33: Ap p ra isa l and testing BM-S-8: Carcará a cquisition Four licenses in Ca mp os Ba sin Sinochem divestment 40 % @ $3.1 bn 10 0 sa fe offloa ds Carcará Nor th: winning bid in the Santos basin Country entry & a cquisitions Start production and new exploration and appraisal wells 2001 TO 2008 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 * Pending ANP approval 5 Equinor Bra zil : Shaping the future of energy
Strong position to capture long term value from Brazil Peregrino Peregrino Pha se II Carcará and Carcará North BM-C-33 Ceará 1 Apodisola r >160 MM 2020 >2b i 3 d iscove rie s bblproduced first oil boe recoverable resources Light oil, ga s & condensa te 40,000 barrels per day (equity production) New wellhead pla tform Equinor operatorship Equinor operatorship Roncador Apodi EXP Portfolio Va lue from Natural Gas 10 EspíritoSanto 10 licenses 9 Campos Peregrino, Pitangola, Roncador, BM-C-33, Dois Irmãos* and4 licenses* 60,000 barrels per day (equity production) 16 2MW sola r proje ct 5 high impact prospects Increasing market potential 3 Santos BM-S-8, Carcará North anduirapuru* increase the recovery factor by at least 5 percentage points 20 years power purchase agreement Carcará North, 2 b locks (15 th round), Uirapuru and Dois irmã os Market opening initia tive s * PendingANP approval EquinorBrazil : Shaping the future of energy 6
EquinorBrazil roadmap Ambition towards 2030 One Equinor in Brazil Develop safe and sustainable value growth in Brazil Peregrino Performance Maximize asset value and enable future growth Development Projects (Peregrino II, BM-C-33 & BM-S-8) De live r ne w long-life core assets Always Safe Hig h Va lue Low Carbon Active Portfolio Management Mature high value business options and high-gra d e p ortfolio New Energy Value Chains Maximize asset value and enable future growth 7 Equinor Bra zil : Shaping the future of energy
Equinor Brazil www.equinor.com Equinor Bra zil This presentation, including the contents and arrangement of the contents of each individual page or the collection of the ges, pais owned by Equinor. Copyright to a ll ma te ria l including, but not limite d to, writte n ma te ria l, photogra phs, dra wings, ima ges,tables and data remains the property of Equinor. All rights reserved. Any other use, reproduction, translation, adaption, arrangement, alteration, distribution or storage of this presentation, in whole or in part, without the prior written permission of Equinor is prohibited. The information contained in this presentation may not be accurate, up to date or applicable to the circumstances of any particular case, despite our efforts. Equinor cannot accept a ny lia bility for a ny ina ccura cie s or omissions.