Alexander Wunderlich and Anja Kobstaedt. OMV New Zealand Limited. New Plymouth, 23 rd of March, OMV New Zealand Limited

Transcription

1 Alexander Wunderlich and Anja Kobstaedt OMV New Zealand Limited New Plymouth, 23 rd of March, 2017 OMV New Zealand Limited

2 Legal Disclaimer This document does not constitute a recommendation, an offer or invitation, or solicitation of an offer, to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of any contract, investment decisions or commitment whatsoever. This document does not include any financial analysis or financial research and may not be construed to be a or form part of a prospectus. It is being furnished to you solely for your information. This document and its contents are proprietary to OMV Aktiengesellschaft ( the Company ) and neither this document nor any part of it may be reproduced or redistributed to any other person. It may be amended and supplemented. No reliance may be placed for any purpose whatsoever on the information contained in this document, or any other material discussed verbally, or on its completeness, accuracy or fairness. None of the Company, connected persons, their respective affiliates, or any other person accepts any liability whatsoever for any loss or damage howsoever arising, directly or indirectly, from any use of this document or its contents. The information and opinions contained herein are provided as at the date of this document. This document is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. In particular, no recipient of this document or any copy or part hereof shall reproduce, forward, retransmit or otherwise redistribute this document or any copy or part hereof, directly or indirectly, in or into the United States, Canada, Japan or Australia. This document includes forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this document, including, without limitation, those regarding the Company s financial position, business strategy, plans, and objectives of management for future operations (including development plans and objectives relating to the Company s products), are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company s present and future business strategies and the environment in which the Company will operate in the future and speak only as of the date of this document. None of the future projections, expectations, estimates or prospects in this document should in particular be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared or the information and statements contained herein are accurate or complete. As a result of these risks, uncertainties and assumptions, you should in particular not place reliance on these forward-looking statements as a prediction of actual results or otherwise. This document does not purport to contain all information that may be necessary in respect of the Company or its shares and in any event each person receiving this document needs to make an independent assessment. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any statements including any forward-looking statements contained herein to reflect any change in the Company s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based OMV Aktiengesellschaft, all rights reserved, no reproduction without our explicit consent. 2

3 Agenda Scope Location and Exploration/Production Context Regional development of the Southern Taranaki Basin Miocene Stratigraphy and Regional Evolution Sequence Stratigraphy of the Moki Formation Stacking pattern Depositional Model Reservoir Characterization of the Moki Formation Controls on reservoir quality Reservoir quality versus facies Conclusions 3

4 Location 4

5 Maari/Manaia Exploration and Production Context and Summary SW Manaia-2 Mn-1 Maari-1&2 Moki-1 Manaia Anticline Discovered Oil Accumulation Producing Oil Accumulation Top Moki Reservoir Top Mangahewa Reservoir Maari Anticline Producing Oil Accumulation Producing Oil and Gas Accumulation NE Status Quo 2016 PMP Moki-1 discovery well drilled in 1983 Proved oil accumulation in the Moki and Mangahewa Formation Production began in 2009 OMV operated Maari Moki Fm: STOIIP 140 MMbbl Maari Mangahewa Fm: STOIIP 12 MMbbl and GIIP 8Bscf Manaia Mangahewa: STOIIP 25MMbbl 5

6 3 rd order Miocene Stratigraphy Period Global Scale Epoch NZ Scale Series Stage Deep Marine Sands Stratigraphy Tt/Tk Sand T80 Mt Messenger Sw Sand T75 T70 Moki Fm T60 6

7 Maari/Manaia Field Area CLIFDANIAN LILLBURNIAN Miocene Regional Evolution Kea-1 N GR/Cal 11km Maari-1 Manaia-2 Whio-1 North Tasman-1 Tasman-1 S 9km 7km GR/Cal GR/Cal GR/Cal GR/Cal GR/Cal 22km 17km Maari Shale T66 Maari Shale 2 T65 T60 Maari Shale Maari Shale 2 Cycle 1&2 Cycle 3-5 Cycle 6-8 T66 T65 T60 Seismic Pick BioStrat Pick 7

8 ClI. LC Lobe Complex Lobe Complex Lobe Complex Set LILLBURNIAN Sequence Set Sequence Set Composite Sequence LC LC LC LCS LCS Seq S Regional stacking pattern of the Moki Formation N GR/Cal Manaia-2 DEN/NEU 7km GR/Cal Whio-1 DEN/NEU S Composite Sequence (sensu Flint et al., 2011) Cycle 1 Cycle 2 T66 Sandy deep-marine gravity flow deposits known as the Moki Formation and are the main Reservoir Cycle 3 Cycle 4 Hemipelagic intervals part of the Upper Manganui Formation and act as the main Top Seal Cycle 5 Maari Shale 2 Cycle 6 Within known Moki Fm reservoirs interval, 3 Sequence Sets (sensu Flint et al., 2011) have been interpreted. Cycle 7 Every Sequence Set is composed out of one Lowstand System Tract, which contains a Lobe Complex Set (sensu Prelat at al., 2009). Cycle 8 T65 Lobe Complex Set is made up of various Lobe Complexes (sensu Prelat at al., 2009). Moki Cycle 1 to 8 8

9 Lobe Comp. Sequence Set Lobe Complex Set Lobe Comp. Lobe Complex Initiation Growth Retreat Regional stacking pattern of the Moki Formation Early versus Late Lowstand Allogenic versus Autogenic Trigger MFS N GR/Cal Manaia-2 DEN/NEU 7km T66 Maari Shale GR/Cal Whio-1 DEN/NEU S Allogenic Trigger Lobe Complex Level CC Gardener et al. (2004) AIGR Model Adjustment, Initiation, Growth and Retreat. Tectonics and climate modulate sediment supply and sea level. BSFR MFS CC Autogenic Trigger Lobe Level Lateral offset and compensational. BSFR MFS CC Stacking of lobes, channel migration, switching and avulsion, and longitudinal translation of the channel-lobe transition zone. BSFR MFS Maari Shale 2 CC Correlative Conformity (sensu Hunt and Tucker, 1992) BSFR Basal Surface of Forced Regression (Hunt and Tucker, 1992) MFS Maximum Flooding Surface (Posamentier et al., 1988) 9

10 Regional stacking pattern of the Moki Formation Early versus Late Lowstand Linked Depositional Systems Linked Depositional System The stratigraphically lower and middle part of the basinfloor fan system has broad relatively continuous lobes. Manaia-2 Maui-4 ~ Moki Cycle 5 ~ Moki Cycle 4 ~ Moki Cycle 3 Whio-1 Whio-1 Whio-1 Manaia-2 Manaia-2 Maui-4 Maui-4 The stratigraphically higher part of the basin-floor fan shows more sinuous channelized system prograding over the lower fan system and fed sheetlike lobes on the distal fan. North Tasman-1 10km North Tasman-1 North Tasman-1 Seismic Amplitude Extraction Map Seismic Amplitude Extraction Map Seismic Amplitude Extraction Map 10

11 Lobe/Channel Complex Set Lobe Complex 10cm Regional stacking pattern of the Moki Formation Allogenic versus Autogenic Trigger - Importance of thin-beds GR/Cal Maari-1 DEN/NEU A B C MFS CC Top Cycle 1 Lobe EOD On-Axis A Off-Axis B Fringe BSFR MFS C Base Cycle 1 On-Axis Off-Axis Fringe Hemipelagic High-Density Turbidites On-Axis Thinly bedded Hybrid Event Beds) - Fringe Medium bedded Hybrid Event Beds) Off-Axis 11

12 Depositional of the Moki Formation - Distal to Proximal Transect Moki Formation Cycle 1-2 CLTZ (Channel Lobe Transition Zone) heavily channelized, coarsest and best sand deposited dominated by high density turbidites Channel-Levee System Slope Valley System Submarine Canyon System Moki Formation Cycle 3-5 Lobe Complex Centroid Position Stacked lobe complex sets, controlled by allogenic and autogenic cycles dominated by high and low density turbidites Unconfined Distributary Lobe System Moki Formation Cycle 6-8 Distal Outer Lobe Complex Position Distal Zone dominated by fringe deposits, made up by low density turbidites and linked debrites 12

13 Reservoir Characterization of the Moki Detrital Grains Analysis and Poro/Perm Relationship 13

14 Reservoir Characterization of the Moki Controls on Reservoir Quality + Correlations Permeability versus - Grain Size High Permeability Sands avg Φ 24.3% Perm 98.8md Lithics Authigenics Sorting Macroporosity Quartz Feldspar 1 mm Low Permeability Sands avg Φ 7.0% avg Perm 0.6md 1 mm 14

15 settling velocity Reservoir Characterization of the Moki Hydrodynamic Fractionation Turbidity currents hydrodynamically sort and deposit grains based on grain size, which is the primary control of settling velocity. Recent studies have shown that turbidity currents are effective at fractionating minerals on the basis of grain density and grain shape as well Quartz Feldspar Lithics round faster 250μm 250μm 250μm ρ Shape angular slower 15

16 Reservoir Characterization of the Moki Reservoir quality versus facies Avg. Perm (from SWC and CPI) Lobe scale Avg. Poro (from SWC and CPI) Distal Fringe Fringe 4 17 Channel scale Off-Axis Axis Margin/Abandonment Basal Drape On-Axis On-Axis Off-Axis Fringe Distal Fringe Avg. Poro (from SWC and CPI) Avg. Perm (from SWC and CPI)

17 Prediction of Reservoir Quality Observations Reservoir Characterization of the Moki Summary CLTZ Centroid Fringe Moki Formation Cycle 1-2 high Bed Amalgamation low Moki Formation Cycle 3-5 coarser Grain Size finer Moki Formation Cycle 6-8 clean low Sand Lithic content argillaceous high PROXIMAL round high Mineral characteristics Flow baffles/barriers angular high DISTAL better Sorting worse low low low Mechanical Compaction Clay cements Calcite cements high high high Fringe Centroid CLTZ 17

18 Conclusions The Moki Formation is a Mid Miocene aged sand-rich deep marine gravity flow deposit complex, that is interpreted to have been deposited in mid to lower bathyal water depths. The Moki Formation within the Maari/Manaia Field area consists of 3 stacked 4th order lowstand sequence sets, comprising channel/lobe complexes in an overall progradational system. Primary depositional controls are the most important factors governing the Moki Fm reservoir characterization. These dictate the initial porosity and permeability values of the sediment and the original geometry of the pore system. These controls are generally environment/facies/provenance related and include textural and mineralogical parameters (e.g. macroporosity, lithic content) that will also determine the behavior of the sediment during burial, compaction and diagenesis. The main secondary effect on reservoir quality is compaction, due to the high abundance of lithics which are more susceptible to mechanical compaction. It is expected that the fine-grained sandstones with best potential for reservoir quality will be in the onaxis facies of lobe system and in more proximal channelized system (CLTZ), where slightly coarser sands with less amount of lithics and bigger macropores can be expected. 18

19 Hochstetter-1 Tane-1 West Cape-1 Kopuwa-1 Matuku-1 Taranui-1 Maui-7 Maui-1 Taranga-1 Amokura-1 Thank you very much! Alexander Wunderlich and Anja Kobstaedt OMV New Zealand Limited New Plymouth, 23rd of March, 2017 OMV New Zealand Limited