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Q1 2015 Earnings Call – Kazmunaigas Exploration Production

Kazmunaigas Exploration Production · Apr 30, 2015 · 17 slides

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Slides

  1. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 1
    JSC KazMunaiGas Exploration Production 1Q2015 Financial results April 2015
  2. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 2
    1Q2015 financial highlights Brent and domestic prices down YoY in 1Q15 Net cash*** US3,750m as at 31/03/2015 /bbl 1Q15 1Q14 % YoY change Brent, /bbl 53.9 108.2 (50%) Average domestic 3 987 23.0 48.0 (53%) 3 750 price, th. KZT/…
  3. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 3
    1Q2015 operating highlights 1Q2015 production in line with the plan kbopd 250 251 250 246 36 34 32 31 PKI (33%) 19 20 20 19 33 33 32 32 CCEL (50%) 56 57 56 56 KGM (50%) EMG 106 107 110 108 OMG 1Q2014 4Q2014 1Q2015 2015B th.…
  4. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 4
    1Q2015 operating highlights 1Q2015 Sales mix th. tonnes CPC 572 28% UAS 869 43% 2,023* ANPZ 505 ANPZ from 25% OMG&EMG at T22.4 th./t (16.7 per bbl) Russia PNHZ 20 40 1% 2% Sales to Russia PNHZ from at 38.0 per bbl EMG…
  5. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 5
    Shipments to Russia KMG EP supplied 20,000 tons of crude oil to Russia in Netback* price in March 2015 /bbl March 2015. Average Brent price 55.9 Under inter-governmental agreement Kazakhstan will compensate for oil products received…
  6. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 6
    1Q2015 Key Figures 1Q15 1Q14 YoY, % 4Q14 QoQ, % Brent /bbl 54 108 -50% 77 -30% Core production kbopd 166 162 2% 164 -1% JVs production kbopd 84 88 -4% 87 -4% Core export % 71% 74% -3pp 59% -12pp JVs export % 49% 56% -7pp 39% 10pp…
  7. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 7
    1Q2015 Revenue Sales by route, th. tonnes 1,978 1,987 2,023 Revenue declined due to: 26% 21% 28% Decline in Brent price by 50% YoY to 53.9 per bbl in 1Q2015. 20% 1% 25% 28% Decrease in average domestic price by 53% to 23 th. 20%…
  8. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 8
    Lifting costs* and taxes other than on income Lifting costs*, /bbl 17.8 In 1Q15 employee benefits up YoY due to: 15.9 14.4 1.4 salary indexation by 7% from January 2015 and 10% 1.2 1.5 1.5 1.5 salary increase from Apr. 1; 1.4 4.9…
  9. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 9
    Higher YoY share of JVs income in 1Q15 driven by one-off non-cash adjustments 1Q15 KGM PKI UGL Total Net income/(loss), USm 61 (20) (3) na In 1Q15 KMG EP recognized 18.5bn Tenge 100% (US100m) as a share of JV income compared KMG EP…
  10. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 10
    JVs income in 1Q15 down due to lower Brent price KGM key figures (100%) 1Q15 1Q14 YoY, 4Q14 QoQ, % % Revenue, m 189 395 -52% 274 -31% In 1Q15 export volumes down by 11% YoY due to Net income, m 61 135 -54% 133 -54% lower production…
  11. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 11
    Financial summary (in KZT bn) KZT bn unless stated otherwise 1Q 2014 2Q 2014 3Q 2014 4Q 2014 2014 1Q2015 Production at Core assets (th. tonnes) 1,985 2,032 2,085 2,049 8,151 2,021 Revenue 221 244 226 155 846 117 Total operating…
  12. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 12
    Financial summary (in USD mn) USm unless otherwise indicated 1Q 2014 2Q 2014 3Q 2014 4Q 2014 2014 1Q 2015 Production at Core assets (kbopd) 162 164 167 164 164 165 Revenue 1,301 1,335 1,235 851 4,722 632 Total operating expenses (952)…
  13. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 13
    Summary of JVs financial results USmn 1Q14 2Q14 3Q14 4Q14 2014 1Q15 Kazgermunai, 100% Revenue 395 387 344 274 1,400 189 Operating expenses (198) (164) (159) (115) (636) (121) Income taxes (110) (81) (80) (19) (289) (8) Profit for the…
  14. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 14
    Cash and financial assets US3.8bn as at 31/03/2015 Cash and financial assets by banks as at 31/12/2014 Net Cash* of US3,750mn as at 31/03/2015 3987 (148) 47% (123) 25 9 3750 53% Local banks International banks Net Cash, CFO…
  15. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 15
    Lifting costs*, OMG and EMG, /bbl 16.1 15.1 17.8 16.9 15.8 1.4 15.9 0.5 15.3 14.9 15.0 14.7 1.4 14.4 0.7 1.0 0.9 1.0 3.7 0.8 0.6 4.9 2.6 2.4 3.3 4.0 3.4 3.1 1.5 1.5 4.6 1.5 1.3 1.2 1.4 1.4 1.5 1.0 1.5 1.4 1.7 1.5 1.4 1.5…
  16. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 16
    Reference information Share information, 31/03/2015 Contacts Total Treasury Corporate website: Number of ordinary shares 70,220,935 4,123,865 www.kmgep.kz Number of preferred shares 4,136,107 2,073,147 GDRs per one ordinary share 6…
  17. Q1 2015 Earnings Call – Kazmunaigas Exploration Production – slide 17
    Abbreviations list bbl barrel mmbbl million barrels bn bbl billion barrels bopd barrels per day EGM Extraordinary General Meeting of shareholders kbopd thousand barrels per day US m million US dollars US bn billion US dollars KZT bn…

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