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May 2013 Financial Results – Inpex Corp

Inpex Corp · May 13, 2013 · 33 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. May 2013 Financial Results – Inpex Corp – slide 1
    INPEX CORPORATION Financial Results for the year ended March 31, 2013 May 13, 2013 0
  2. May 2013 Financial Results – Inpex Corp – slide 2
    Agenda Corporate Overview Outlook Financial Results for the year ended March 31, 2013 Consolidated Financial Forecasts for the year ending March 31, 2014 1
  3. May 2013 Financial Results – Inpex Corp – slide 3
    Corporate Overview Toshiaki Kitamura Representative Director, President & CEO
  4. May 2013 Financial Results – Inpex Corp – slide 4
    FY 2013/03 Corporate Highlights 1/2 Proved/Probable 4.09 billion BOE Reserves Net Production 408 thousand BOED Financial Results Net sales 1,216.5 billion (2.5% increase YoY) (Mar.2013) Net profit 182.9 billion (5.7% decrease YoY)…
  5. May 2013 Financial Results – Inpex Corp – slide 5
    FY 2013/03 Corporate Highlights 2/2 Continuous Enhancement of E&P Activities (Growth Targets 1., under Medium to LongTerm Vision) Acquisition of Production and Development Projects Block 14, Offshore Angola (In Production) Lucius…
  6. May 2013 Financial Results – Inpex Corp – slide 6
    Ichthys LNG Project (1/3) Onshore LNG Plant Site Accommodation Village Dredging in Darwin Harbor (April2013, Darwin) (April2013, Darwin) (March2013, Darwin) Status of Current Work Engineering & procurement for offshore & onshore…
  7. May 2013 Financial Results – Inpex Corp – slide 7
    Ichthys LNG Project (2/3) 2012 2013 2014 2015 2016 Engineering, Procurement, Construction and Commissioning for Onshore/ Offshore Facilities FID Production Fabrication and Laying of Gas Export Pipeline startup Site Preparation…
  8. May 2013 Financial Results – Inpex Corp – slide 8
    Ichthys LNG Project (3/3) Characteristics / Strengths of the Project Wet gas with rich Condensate and LPG Good coordination and relationship with TOTAL Readiness for cost Sufficient period of FEED prior to FID overrun risk to…
  9. May 2013 Financial Results – Inpex Corp – slide 9
    Abadi LNG Project SURF (subsea production facilities) FEED commenced in November 2012. FLNG FEED commenced in January 2013. AMDAL(Environmental & Social Impact Assessment Process) ongoing Plans to complete the AMDAL report by…
  10. May 2013 Financial Results – Inpex Corp – slide 10
    Progress in Enhancing Gas Supply Chain (Full view of Naoetsu LNG Receiving Terminal, as of April 2013) Construction of Naoetsu LNG Receiving Terminal Construction work in final stage to start commercial operation in 2014…
  11. May 2013 Financial Results – Inpex Corp – slide 11
    Topics for FY 2013/03 (1/2) Acquisition of Production and Development Projects Production Fields Platform Production facility (Spar) construction site Offshore Angola Block 14 Lucius Project Deepwater Gulf of Mexico, Agreed to…
  12. May 2013 Financial Results – Inpex Corp – slide 12
    Topics for FY 2013/03 (2/2) Acquisition of Exploration Blocks Offshore Blocks in the Onshore Block 10, Iraq UK Continental Shelf Participating Interest 40% Participating Interest30% (OperatorLukoil) (OperatorCentrica) Block…
  13. May 2013 Financial Results – Inpex Corp – slide 13
    Net Production* (FY 2013/03) 500 426 408 Main increase factor 5% Increase in production in Middle East / 400 4% Africa region mainly in the ADMA Block, Abu Dhabi (+3 thousand BOED) 36% (Thousand BOED) 300 39% Main decrease…
  14. May 2013 Financial Results – Inpex Corp – slide 14
    Proved + Probable Reserves* and Reserves Indices 5,000 Reserves Life Finding & Development Cost per BOE (3year average 4,500 4,404 (RP Ratio**) 4,255 80 4,126 4,098 70 78.6 4,000 60 50 3,500 US/boe 1,823 40 1,910 30…
  15. May 2013 Financial Results – Inpex Corp – slide 15
    Outlook Toshiaki Kitamura Representative Director, President & CEO
  16. May 2013 Financial Results – Inpex Corp – slide 16
    Investment Plan By Activity Comparison with Plan Released FY 2012/03 (Billions of Yen) (Millions of US) (Billions of Yen) 1,131.0 (Millions of US ) 1,200 11,910 Adjusted number (11,910) 12,000 11,425 due to the change 1,100 in…
  17. May 2013 Financial Results – Inpex Corp – slide 17
    Net Production* Volume Projection Through the Ichthys Target for the 2020s startup etc, the total 1,000 thousand BOED 1,000 production from existing projects will rise to 900 approximately 700 thousand BOED 800 600 700 700…
  18. May 2013 Financial Results – Inpex Corp – slide 18
    FY 2014/03 Outlook Investment Plan Net Production Project Development: Target production: Abadi LNG Project: Plans to 1,003.0 billion Yen 410 thousand BOED drill 3 delineation wells and 1 exploratory well from June Exploration:…
  19. May 2013 Financial Results – Inpex Corp – slide 19
    Credit Ratings from Moodys Newly Obtained Credit Ratings Subject of Ratings Credit Ratings * Rating Outlook Longterm Issuer Rating A1 Stable * For the detail information of the assigned credit ratings, please refer to the press…
  20. May 2013 Financial Results – Inpex Corp – slide 20
    Financial Results for the year ended March 31, 2013 Masahiro Murayama Director, Managing Executive Officer Head of Finance & Accounting Division
  21. May 2013 Financial Results – Inpex Corp – slide 21
    Highlights of the Consolidated Financial Results for the year ended March 31, 2013 Mar. 12 Mar. 13 Change %Change Net Sales (Billions of yen) 1,186.7 1,216.5 29.8 2.5% Crude Oil Sales 726.2 788.1 61.9 8.5% Natural Gas Sales…
  22. May 2013 Financial Results – Inpex Corp – slide 22
    Crude Oil Sales Mar. 12 Mar. 13 Change %Change Net Sales (Billions of yen) 726.2 788.1 61.9 8.5% Sales volume (thousand bbl) 80,738 86,189 5,452 6.8% Average unit price of overseas 112.97 110.11 (2.86) (2.5%) production (/bbl)…
  23. May 2013 Financial Results – Inpex Corp – slide 23
    Natural Gas Sales (excluding LPG) Mar. 12 Mar. 13 Change %Change Net Sales (Billions of yen) 404.7 370.5 (34.2) (8.5%) Sales volume (million cf) 357,601 318,792 (38,809) (10.9%) Average unit price of overseas 14.12 13.43 (0.69)…
  24. May 2013 Financial Results – Inpex Corp – slide 24
    Statements of Income Increase in Sales Volume : +7.6 (Billions of Yen) Mar. 12 Mar. 13 Change %Change Decrease in Unit Price : (24.2) Net Sales 1,186.7 1,216.5 29.8 2.5% Exchange rate (Depreciation of Yen) : +47.1 Cost of Sales…
  25. May 2013 Financial Results – Inpex Corp – slide 25
    Other Income/Expenses (Billions of Yen) Mar. 12 Mar. 13 Change %Change Other income 102.0 98.6 (3.4) (3.3%) Interest income 4.3 8.7 4.3 98.5% Dividend income 6.9 7.8 0.8 12.0% Gain on sales of investment securities 0.0 25.4 25.4 %…
  26. May 2013 Financial Results – Inpex Corp – slide 26
    Analysis of Net Profit Decrease (Billions of Yen) 250 Breakdown Increase in Exploration Expenses (8.3) 47.1 Increase in Allowance for Exploration (12.2) 7.6 (0.8) 200 30.1 (30.8) (24.2) (20.6) 7.6 (6.4) 150 Main Factors…
  27. May 2013 Financial Results – Inpex Corp – slide 27
    Balance Sheets (Billions of yen) Mar. 12 Mar. 13 Change %Change Current assets 908.7 1,106.5 197.8 21.8% Tangible fixed assets 383.6 584.5 200.8 52.3% Intangible assets 233.3 380.1 146.8 62.9% Recoverable accounts under…
  28. May 2013 Financial Results – Inpex Corp – slide 28
    Statements of Cash Flows (Billions of Yen) Mar. 12 Mar. 13 Change %Change Income before income taxes and minority interests 767.0 718.1 (48.8) (6.4%) Depreciation and amortization 48.0 51.9 3.8 8.1% Recovery of recoverable accounts…
  29. May 2013 Financial Results – Inpex Corp – slide 29
    Financial Indices Net Debt/Total Capital Employed (Net)* Equity Ratio** Mar.12 Mar.13 71.1% 68.6% (43.9%) (60.7%) Mar.12 Mar.13 D/E Ratio*** * Net Debt/Total Capital Employed (Net) = (Interestbearing debt Cash and…
  30. May 2013 Financial Results – Inpex Corp – slide 30
    Consolidated Financial Forecasts for the year ending March 31, 2014 Masahiro Murayama Director, Managing Executive Officer Head of Finance & Accounting Division
  31. May 2013 Financial Results – Inpex Corp – slide 31
    Consolidated Financial Forecasts for the year ending March 31, 2014 1st Half 2nd Half Full year Brent oil price (/bbl) 100.0 100.0 100.0 Average exchange rate (/) 95.0 95.0 95.0 Mar. 13 Mar. 14 Full Year (Actual) (Forecasts )…
  32. May 2013 Financial Results – Inpex Corp – slide 32
    Sales and Investment Plan for the year ending March 31, 2014 Mar. 13 Mar. 14 (Actual) (Forecasts ) Change % Change Crude oil (thousand bbl)1 86,189 83,744 (2,445) (2.8%) Sales Volume Natural gas (million cf)2 318,792 318,915…
  33. May 2013 Financial Results – Inpex Corp – slide 33
    Net Income Sensitivities Estimated Impact of crude oil price and foreign exchange fluctuation on consolidated net income for the year ending March 31, 2014 (Billions of yen) Brent Crude Oil Price; 1/bbl decrease (increase)…

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