Gazelle

Year

Net Oil

EMGEE - J
J - wells

Gas

Condensate

mmscf/d
0

bpd
0

3
6
9
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10

6
30
50
60
60
60
59
57
56
54
53
52
50
49
48
47
45
44

780
3900
6500
7800
7800
7800
7605
7415
7230
7049
6873
6701
6533
6370
6211
6055
5904
5756

kbpd
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033

68
63
57
51
46
41
37
37
33
29
25
22
18
13
9
5
1
0
0

wells drilled
1

2
3
3
1

Item

Value

Discount rate
Royalty
Economics

4.00%
30.00%

Oil Price $/bbl

75

Condensate $/bbl

125

Gas Price $/000scf

Pipeline $mm/km

8.6

Subsea

Subsea

Land

1.5

Bundle
Jackets $mm
Piled
Concrete
Semi-sub
TLP
SBM

5
75
200
175
160
25

Topsides Module ($mm)

Drilling (fixed)

75

Production separation

125

Water treatment module

100

Gas treatment module

140

Utilities

65

Accommodation

80

Floating ($mm)
FPSO Construct

225

FPSO Rent (/day)

0.35

Shuttle tanker - rent (/day)

0.15

Operating Costs
Fixed (%ge of cum CAPEX)
Variable gas $/mmscf
Variable condensate $/bbl
Well CAPEX ($mm)
Sub sea
TLP (dry tree)
Platform

5%
50
10.00
65
45
25

Comments
0
Note Gazelle oil price discounted due to long term
contract with refinery.
Premium price reflects use as chemical feedstock

12 dia pipe
6 dia pipe
all sizes
10 Carrier with four lines

Export mooring buoy

150,000 bbl storage

for condensate export via SBM - requires offshore

storage

requires drilling module

assumes jack-up drilling unit

NPV 3518
CAPEX

REVENUE

Year Condens
ate
Gas
ann
cum
prod'n
prod'n
revenu prod
boe
wells jacket
bpd
mmscf/d e $mm mmbbl mmbbl capex capex
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033

780
3900
6500
7800
7800
7800
7605
7415
7230
7049
6873
6701
6533
6370
6211
6055
5904
5756

6
30
50
60
60
60
59
57
56
54
53
52
50
49
48
47
45
44

54
272
454
544
544
544
531
517
504
492
480
468
456
444
433
422
412
402

0.65
3.25
5.41
6.50
6.50
6.50
6.33
6.18
6.02
5.87
5.72
5.58
5.44
5.31
5.17
5.04
4.92
4.79

1E-007
1
4
9
16
22
29
35
41
47
53
59
65
70
75
80
85
90
95

1E-007

gas
treat
ment
modu
le
capex

produ
ction
modu
le
capex

007

007

Complete only pin

condens
ate
conde
accom
spiked gas
nsate
utilitie modat SBM FSO/F into oil pipeli pipelin
total cum
s
ion
cape PSO
export ne
e
spare spare CAPE CAPE
capex capex x
capex yes/no capex capex capex capex X
X
1E-007 1E-007 ### 1E-007

1E-007
no

ete only pink shaded cells

007 1E-007

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

OPEX

CASH FLOW $mm

renta
l
shutt fpso
le
renta gas
cond
cash
tanke l
variabl variabl total cum Royalt flow
fixed r
opex e opex e opex OPEX OPEX y
$mm
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

0
3
14
24
28
28
28
28
27
26
26
25
24
24
23
23
22
22
21

0
3
15
25
30
30
30
29
28
27
27
26
25
25
24
24
23
22
22

0
3
18
42
72
102
131
160
188
215
242
268
294
318
342
366
389
411
433

0
16
82
136
163
163
163
159
155
151
148
144
140
137
133
130
127
124
120

0
35
176
293
351
351
351
343
334
326
318
310
302
294
287
280
273
266
259

cum
cash
flow
0
35
211
504
855
1206
1558
1900
2234
2560
2878
3187
3489
3783
4070
4350
4623
4889
5148

disc
factor
1.00
0.96
0.92
0.88
0.85
0.82
0.78
0.75
0.72
0.69
0.66
0.64
0.61
0.59
0.56
0.54
0.52
0.50
0.48

DCF
0
34
162
259
298
287
275
257
241
226
211
198
185
173
162
152
142
133
124

Cum
DCF
0
34
196
455
753
1040
1315
1572
1813
2039
2250
2447
2632
2805
2968
3119
3261
3394
3518

cum tech unit tech disc com disc tech

costs
cost
boe
costs
$/boe
0
11
0.0
#DIV/0!
3
5
0.6 54.08426798
18
5
3.6 54.08426937
42
5
8.4 54.08426954
72
5
13.9 54.08426959
102
5
19.2 54.08426961
131
5
24.3 54.08426962
160
5
29.1 54.08426963
188
5
33.5 54.08426963
215
5
37.7 54.08426964
242
5
41.6 54.08426964
268
5
45.3 54.08426964
294
5
48.7 54.08426964
318
5
51.9 54.08426964
342
5
54.9 54.08426964
366
5
57.7 54.08426964
389
5
60.3 54.08426965
411
5
62.8 54.08426965
433
5
65.1 54.08426965

NPV 3518
CAPEX

REVENUE

Year Condens
ate
Gas
ann
cum
prod'n
prod'n
revenu prod
boe
wells jacket
bpd
mmscf/d e $mm mmbbl mmbbl capex capex
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033

780
3900
6500
7800
7800
7800
7605
7415
7230
7049
6873
6701
6533
6370
6211
6055
5904
5756

6
30
50
60
60
60
59
57
56
54
53
52
50
49
48
47
45
44

54
272
454
544
544
544
531
517
504
492
480
468
456
444
433
422
412
402

0.65
3.25
5.41
6.50
6.50
6.50
6.33
6.18
6.02
5.87
5.72
5.58
5.44
5.31
5.17
5.04
4.92
4.79

1E-007
1
4
9
16
22
29
35
41
47
53
59
65
70
75
80
85
90
95

1E-007

gas
treat
ment
modu
le
capex

produ
ction
modu
le
capex

007

007

Complete only pin

condens
ate
conde
accom
spiked gas
nsate
utilitie modat SBM FSO/F into oil pipeli pipelin
total cum
s
ion
cape PSO
export ne
e
spare spare CAPE CAPE
capex capex x
capex yes/no capex capex capex capex X
X
1E-007 1E-007 ### 1E-007

1E-007
no

ete only pink shaded cells

007 1E-007

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

OPEX

CASH FLOW $mm

renta
l
shutt fpso
le
renta gas
cond
cash
tanke l
variabl variabl total cum Royalt flow
fixed r
opex e opex e opex OPEX OPEX y
$mm
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

0
3
14
24
28
28
28
28
27
26
26
25
24
24
23
23
22
22
21

0
3
15
25
30
30
30
29
28
27
27
26
25
25
24
24
23
22
22

0
3
18
42
72
102
131
160
188
215
242
268
294
318
342
366
389
411
433

0
16
82
136
163
163
163
159
155
151
148
144
140
137
133
130
127
124
120

0
35
176
293
351
351
351
343
334
326
318
310
302
294
287
280
273
266
259

cum
cash
flow
0
35
211
504
855
1206
1558
1900
2234
2560
2878
3187
3489
3783
4070
4350
4623
4889
5148

disc
factor
1.00
0.96
0.92
0.88
0.85
0.82
0.78
0.75
0.72
0.69
0.66
0.64
0.61
0.59
0.56
0.54
0.52
0.50
0.48

DCF
0
34
162
259
298
287
275
257
241
226
211
198
185
173
162
152
142
133
124

Cum
DCF
0
34
196
455
753
1040
1315
1572
1813
2039
2250
2447
2632
2805
2968
3119
3261
3394
3518

cum tech unit tech disc com disc tech

costs
cost
boe
costs
$/boe
0
11
0.0
#DIV/0!
3
5
0.6 54.08426798
18
5
3.6 54.08426937
42
5
8.4 54.08426954
72
5
13.9 54.08426959
102
5
19.2 54.08426961
131
5
24.3 54.08426962
160
5
29.1 54.08426963
188
5
33.5 54.08426963
215
5
37.7 54.08426964
242
5
41.6 54.08426964
268
5
45.3 54.08426964
294
5
48.7 54.08426964
318
5
51.9 54.08426964
342
5
54.9 54.08426964
366
5
57.7 54.08426964
389
5
60.3 54.08426965
411
5
62.8 54.08426965
433
5
65.1 54.08426965