Dual Gas Lift Continuous Flow (IPO) Valves Offshore West Africa Well X-1 (long) and X-1D (short)

1. Dual Gas Lift Continuous Flow (IPO) Valves Offshore West Africa Well X-1 (long) and X-1D (short)

2. RCF Series - IPO Valves for Continuous Flow • Special IPO gas lift valves for continuous flow (R-1CF & RCF-2) used in redesign of well, X-1 • RCF series valves are simply IPO valves with gas chokes positioned upstream of valve port or seat • Valve configuration maintains tubing sensitivity after valve is in open position

3. KOP @260’ MD Orig. KB Elev. 91’ (Above Sea Level) Orig. KB TH 59’ Curr. KBTH 59’ Jkt WLM Zero TVDSS 6422 ft @ 6968 ’ TD Directional Well Max Angle 23 deg @ 6694 ft LONG STRING – 2-7/8” MD TVD SS SCSSV 521’ 428’ N-Nip 998’ 928’ GLM #11 1437’ 1311’ GLM #10 2099’ 1925’ GLM #09 2576’ 2366’ GLM #08 2958’ 2720’ GLM #07 3342’ 3075’ GLM #06 3722’ 3425’ GLM #05 4041‘ 3719’ GLM #04 4359’ 4013’ GLM #03 4709’ 4336’ GLM #02 5029’ 4632’ GLM #01 5349’ 4928’ 2 7/8” X-LN 5576’ 5138’ 9 5/8” U-Pkr Ext 5588’ 5149’ 9 5/8” 51.B Pkr 5591’ 5152’ 9 5/8” L-Pkr Ext 5596’ 5156’ Blast Jts 5661’ 5216’ 2 7/8” X-LN 6025’ 5552’ 9 5/8” FHL Pkr 6038’ 5564’ 2 7/8” X-LNp 6078’ 5601’ Perf Pup Jt 6079’ 5602’ 2 7/8” XN-LNp 6089’ 5611’ EOT 6099’ 5621’ 2 7/8” 6.50 #, L-80 CSH Tubing SHORT STRING – 3-1/2” MD TVDss SCSSV 496’ 404’ X-LNp 1001’ 902’ GLM #11 1406’ 1282’ GLM #10 2064’ 1892’ GLM #09 2566’ 2357’ GLM #08 2944’ 2707’ GLM #07 3322’ 3056’ GLM #06 3702’ 3407’ GLM #05 4020’ 3700’ GLM #04 4338’ 3993’ GLM #03 4687’ 4316’ GLM #02 5004’ 4609’ GLM #01 5321’ 4902’ 3 1/2” X-LNp 5580’ 5141’ 9 5/8” U-Pkr Ext 5591’ 5152’ 9 5/8” 51.B Pkr 5591’ 5152’ 9 5/8” L-Pkr Ext 5597’ 5157’ 3 1/2” X-LNp 5612’ 5171’ Perf Pup Jt 5613’ 5172’ 3 1/2” XN-LNp 5619’ 5177’ EOT 5629’ 5187’ Formation Tops W/ Pay MD TVDss 4523’ -4164’ 4740’ -4365’ 4946’ -4555’ 5595’ -5155’ 5640’ -5197’ 6188’ -5703’ 6659’ -6137’ 6830’ -6294’

4. July 1996 June 1998 Sept. 1998 Mar. 2000 Well X1 (Dual) History Well completed as common annulus dual; G/L mandrels contained dummy valves; both wells came in flowing naturally Waterflood injection initiated into reservoirs Due to increasing water cut and declining production, R-2 IPO valves were installed in 3.5” short string; valves were designed for 800 psi KO, 750 psi OP Due to increasing water cut and declining production, R-1CF IPO valves were installed in 2-7/8” long string; valves were designed for 750 psi OP

5. X-1D (short) Sept 1998 – R-2 IPO gas lift valves installed for unloading and gas lift operation, if required PI = 3.35 B/D/psi BHT = 165 deg F Design Rate = 2000 B/D %WC = 80% GL Pressure = 800 psi Recorded SBHP = 1600 psi (26 Sept 98)

6. Jan. 2002 Feb. 2002 Feb. 2002 Well X-1 (Dual) History High lift gas usage to both strings and production decline from short string prompted re-design of both strings; higher available gas lift pressure supply of 1150 psi allowed both strings to be designed for PSO pressure of 1050 psi R-1CF and R-2CF continuous flow valves were installed by slick-line Tests showed lift gas reduction in both strings, with oil increase of 560 barrels from short string

7. X-1 (Long) After GLV redesign and installation, well producing 1,750 bfpd with Qi = 500 mcfpd and lifting from GLV depth (4104 ft TVD)

8. X-1D (short) Jan 2002 – redesign with RCF-2 valves for 1050 psi Operating Pressure BFPD = 2500 [+1000 bfpd] Qi = 750 Mcfpd [-500 Mcfpd] Injection Depth = 4993’ TVD

9. Well Test Data X-1

10. Well Test Data – X-1D

11. X-1 GLV Installation

12. X-1D GLV Installation

13. X-1 Results • R-1CF & RCF-2 gas lift valves allow GL designer to maintain higher injection pressure, thus deeper injection depth • Different Injection Depths for each tubing string - 3516’ TVD for X-1 and 4993’ TVD for X-1D • X-1 - increase in fluid rate by 10% • X-1D - increase in fluid rate by 65% • Combined (Qi) gas injection rate was reduced by 25% • Combined oil gain was 560 bopd

14. Dual Gas Lift Continuous Flow (IPO) Valves ?? QUESTIONS ??