Purpose of this presentation To assist the capital markets in understanding the key operational activities and earnings drivers of the IES division over the period to 2015 It is not designed to provide guidance in respect of…
IES updated earnings guidance At the IES Capital Markets Day held in June 2011, we gave the following guidance: In 2015, IES will generate net income of around US200m from projects in operation/under development with the potential to…
IES earnings guidance whats changed Changes between the June 2012 and June 2013 IES data pack include: We have added the earnings contribution from the Pnuco and Arenque PECs in Mexico We believe we can capture more value from…
Key IES projects Production Enhancement Contracts (PEC) END DATE 2025 (+10 YR TRANSITION Ticleni, Romania PERIOD EXTENSION OPTION) TRANSITION Magallanes and Santuario, Mexico PERIOD 2037 TRANSITION Pnuco, Mexico* PERIOD…
Information provided for each commercial model The following slides describe the following for each of the three commercial models: A A reminder of how the commercial model works B The current projects within each portfolio…
Production Enhancement Contracts A Under the PEC commercial model we are paid a tariff per barrel for production and Commercial Model therefore have no direct commodity price exposure PECs are appropriate for mature fields which…
Production Enhancement Contracts C Ticleni, Romania Petrofac is providing production enhancement services to Petrom (the concession holder) for the Ticleni oilfield and its eight satellite fields in Romania The contract was signed…
Production Enhancement Contracts C Magallanes and Santuario, Mexico Petrofac is providing production enhancement services to PEMEX (the concession holder) for the Magallanes and Santuario blocks in Tabasco State, central Mexico The…
Production Enhancement Contracts C Pnuco, Mexico Petrofac is providing production enhancement services to PEMEX (the concession holder) for the Pnuco block in Veracruz State, eastern Mexico This is the first award in conjunction…
Production Enhancement Contracts C Arenque, Mexico Petrofac is providing production enhancement services to PEMEX (the concession holder) for the Arenque block, located 30 kms from Tampico on the Mexican continental shelf, eastern…
Production Enhancement Contracts D Operational Activities Key work items for the boosting of production include the drilling of new wells, and the completion of well sidetracks and well workovers There are circa 30 rig years…
Risk Service Contracts A Commercial Under the RSC commercial model we develop, operate and maintain a field, while the Model resource holder retains ownership and control of their reserves Our interests are aligned: we fund…
Risk Service Contracts D Berantai oil & gas field, Malaysia The key operational activities on the Berantai project include: 2012: achievement of first gas and the drilling of the initial phase one wells (now complete) 2013:…
Risk Service Contracts E Under the terms of the RSC, the Berantai partners receive a rate of return linked to their performance against an agreed incentive structure, including: project costs, timing to first gas and sustained gas…
Equity Upstream Investments A Under this commercial model we take a direct interest in a field via a PSC or Concession Commercial Model Agreement We have production and commodity price exposure Going forward, we expect to focus…
Equity Upstream Investments C Block PM304, Malaysia Petrofac has a 30% operating interest in Block PM304 The interest was acquired in 2004 and is held through a PSC Petrofacs partners in the PSC are PETRONAS (30%), KUFPEC (25%) and…
Equity Upstream Investments C Chergui, Tunisia Petrofac has a 45% interest in the Chergui gas field, held through a Concession Agreement The interest was obtained in 2007 from ETAP, the Tunisian national oil company, which holds the…
Equity Upstream Investments D Block PM304, Malaysia 2013: West Desaru completion of the early production system and achievement of first oil, which will be exported to the Cendor phase one FSO; Cendor phase two installation of the…
Equity Upstream Investments D Chergui, Tunisia 2012: drilling of two wells to maintain plateau (now complete) Operational Activities Greater Stella Area Development, UK 2012-15: completion of modification and upgrade of the…
Equity Upstream Investments E The below table shows our projection for net annual production and net income per barrel on Block PM304, the Chergui field and the Greater Stella Area development taken in aggregate Earnings…
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