21 February Contact Energy Origin Energy Geothermal update November 2012

Transcription

1 21 February 2013 Contact Energy Origin Energy Geothermal update November 2012

2 Disclaimer This presentation may contain projections or forward looking statements regarding a variety of items. Such forward-looking statements are based upon current expectations and involve risks and uncertainties. Actual results may differ materially from those stated in any forward-looking statement based on a number of important factors and risks. Although management may indicate and believe that the assumptions underlying the forwardlooking statements are reasonable, any of the assumptions could prove inaccurate or incorrect and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realised. Furthermore, while all reasonable care has been taken in compiling this presentation, Contact accepts no responsibility for any errors or omissions. This presentation does not constitute investment advice. 21 February

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4 Introduction Presentation Economic Overview Contact Energy Activities What is driving our activity? Bioreactor Te Mihi Operations Drilling Tauhara Taheke Origin Energy Activities Indonesia Chile Innamincka Deep 21 February

5 NZ Overview: Economy & Energy Consumption Flat Electricity Consumption Flat High NZD/USD exchange and slack demand hit industrial energy customers Electricity generation down; taking coal prices with it. GWh NZ Electricity Consumption 50,000 40,000 30,000 20,000 10,000. Geothermal and Wind Substituting for Coal & Gas Gas-fired plant pushed to mid merit GWh 0 20,000 15,000 10,000 5, Geothermal & Thermal Generation Geoth Thermal 5

6 Contact Energy 2012 Activities June 2011 Contact Energy Investor Offsite - Taupo

7 Wairakei Bioreactor: commissioned and performing First of its kind in Geothermal application commissioned in May Pipe-field reactor containing 378 km of polyethylene pipe (designed by Beca). Plant meeting its performance targets for reducing H2S in Waikato River Water November 2011 Capital Bond roadshow presentation 7

8 Te Mihi (166 MWe ) on track to complete in 2013 First steam blow through U1 steam system successful. Steamfield substantially complete; two new flash plants commissioned by year end. Switchyard and grid connection complete. Project completion in mid November 2011 Capital Bond roadshow presentation 8

9 Operations: generation production increase in 2012 Increased geothermal generation for year ending June 2012; a credit to our operations team Contact Energy Geothermal Generation Direct heat sales flat Maintenance and operations staff preparing for Te Mihi GWh June 2011 Contact Energy Investor Offsite - Taupo

10 Drilling: 2012 campaign focused on Te Mihi Deep Injection: 2 wells Production: 5 wells Mid Depth Injection: 6 wells New DrillMech rig (Century Rig 32) due to spud well late Nov. or early Dec. November 2011 Capital Bond roadshow presentation 10

11 Tauhara: incremental progress on phase two development (240 MWe) Flash trial engineering design complete New injection well drilled for flash trial Flash trial to get underway in calendar

12 Taheke JV: the year of living regulation Joint T8C and Contact effort on Environ BoP Regional Policy Statement setting new rules for resource consents. Balance of year spent investigating the possible effects of development. Suring the year, the Taheke Joint Venture acquired rights to neighbouring Whangamoa Trust land November 2011 Capital Bond roadshow presentation 12

13 Origin Energy owns 53% of Contact Energy and has a large portfolio of geothermal, wind, and hydro renewable projects Assets include oil & gas, gas-fired generation retail and renewables 21 February

14 Origin Geothermal: Chile activities Origin Geothermal owns 40% of Energia Andina, a Chilean geothermal company together with Antofagasta Minerals SA. In 2012 exploration activity focused on geoscience surveys and surface works at 7 prospects in Northern Chile. Exploration drilling is currently underway at Pampa Lirima. Appraisal planning is underway for the discovery at Tinguiririca November 2011 Capital Bond roadshow presentation 14

15 Origin Geothermal: Indonesia activities Origin Geothermal owns a 50% interest in OTP Geothermal with Tata Power (India). A consortium between OTP Geothermal and PT Supraco Indonesia, holds the Sorik Marapi geothermal concession in Northern Sumatra, Indonesia. Surface geophysical and CO2 sniffer surveys show a geothermal system dominated by the Sumatran Fault System. Exploratory drilling is scheduled for calendar year November 2011 Capital Bond roadshow presentation 15

16 Origin Geothermal: Australian activities Direct interest in Innamincka Deeps EGS Project with Geodynamics. Habanero 4 (4202 m) completed and tested flow of 90 tonnes/hr fluid. Well stimulation underway. Geodynamics plan to complete closed loop demonstration circuit in February

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