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November 2013 Financial Results – Inpex Corp

Inpex Corp · Nov 8, 2013 · 27 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. November 2013 Financial Results – Inpex Corp – slide 1
    INPEX CORPORATION Financial Results for the Six Months ended September 30, 2013 November 8, 2013
  2. November 2013 Financial Results – Inpex Corp – slide 2
    Agenda 1. Corporate Overview Toshiaki Kitamura Representative Director, President & CEO 2. Financial Results for the six months ended September 30, 2013 Masahiro Murayama Director, Managing Executive Officer Head of…
  3. November 2013 Financial Results – Inpex Corp – slide 3
    Corporate Overview Toshiaki Kitamura Representative Director, President & CEO
  4. November 2013 Financial Results – Inpex Corp – slide 4
    FirstHalf 2013 Corporate Highlights (1/3) Halfyear Results Net sales 650.4 billion (12.4% increase YoY) (Apr.2013 Sep.2013) Net income 80.0billion (28.1% decrease YoY) Net Production 403 thousand BOED (0.2% decrease YoY) (Apr.2013…
  5. November 2013 Financial Results – Inpex Corp – slide 5
    FirstHalf 2013 Corporate Highlights (2/3) Continuous Enhancement of E&P Activities (Medium to Long Term Vision of INPEXManagement Policy No.1) Acquisition of New Exploration Blocks JPDA11106 contract area at the Joint Petroleum…
  6. November 2013 Financial Results – Inpex Corp – slide 6
    FirstHalf 2013 Corporate Highlights (3/3) Strengthening Gas Supply Chain (Medium to Long Term Vision of INPEXManagement Policy No.2) Ichthys LNG Project to Secure New Shipping Vessels (Jun.) Completion of constructing Naoetsu Line…
  7. November 2013 Financial Results – Inpex Corp – slide 7
    Ichthys LNG Project (1/2) Status of current works Proved reserves: Approx. 1,030 [Offshore facilities] million BOE * Production volume (expected): Engineering, procurement & construction of CPF and FPSO ongoing 8.4 million t/y of…
  8. November 2013 Financial Results – Inpex Corp – slide 8
    Ichthys LNG Project (2/2) Construction of CPF Hull in Korea FPSO Hull 1st Steel Cutting Ceremony in Korea Onshore LNG Plant Site 42 Linepipe Coating Yard in Indonesia in Darwin 8
  9. November 2013 Financial Results – Inpex Corp – slide 9
    Abadi LNG Project Development at Abadi (image) SURF (subsea production facilities) FEED commenced in November 2012. FLNG FEED commenced in January 2013. AMDAL(Environmental & Social Impact Assessment Process) ongoing…
  10. November 2013 Financial Results – Inpex Corp – slide 10
    Strengthening Gas Supply Chain Construction of Naoetsu LNG Terminal In Aug., first LNG carrier arrived at Naoetsu LNG Terminal Targeting commercial operation from January 2014 Expansion of Natural Gas Pipeline Network In Jul.,…
  11. November 2013 Financial Results – Inpex Corp – slide 11
    FirstHalf 2013 Topics (1/2) Production/Development Exploration activity Kashagan Oil Production Facility Kashagan oil field started production of Encountered oil pay in Walker Ridge 95/96/139/140 Blocks U.S. Gulf of crude…
  12. November 2013 Financial Results – Inpex Corp – slide 12
    FirstHalf 2013 Topics (2/2) Exploration projects Entered into Cooperation Agreement with Rosneft Participation in Zapadno for Magadan 2 and 3 Yaraktinsky block and blocks in the Sea of Bolshetirsky block, onshore Okhotsk, Russia…
  13. November 2013 Financial Results – Inpex Corp – slide 13
    Net Production* (April September 2013) 500 404 403 Main increasing factor 400 3% 5% Increase in production in Middle East / Africa region due to the acquisition of interest in the Block 14, Republic of Angola and 39%…
  14. November 2013 Financial Results – Inpex Corp – slide 14
    Financial Results for the six months ended September 30, 2013 Masahiro Murayama Director, Managing Executive Officer Head of Finance & Accounting Division
  15. November 2013 Financial Results – Inpex Corp – slide 15
    Highlights of the Consolidated Financial Results for the six months ended September 30, 2013 Apr.Sep. 12 Apr.Sep. 13 Change %Change Net Sales (Billions of yen) 578.5 650.4 71.9 12.4% Crude Oil Sales 367.8 426.7 58.9 16.0% Natural…
  16. November 2013 Financial Results – Inpex Corp – slide 16
    Crude Oil Sales Apr.Sep. 12 Apr.Sep. 13 Change %Change Net Sales (Billions of yen) 367.8 426.7 58.9 16.0% Sales volume (thousand bbl) 42,120 40,578 (1,543) (3.7%) Average unit price of overseas 109.24 106.21 (3.03) (2.8%)…
  17. November 2013 Financial Results – Inpex Corp – slide 17
    Natural Gas Sales (excluding LPG) Apr.Sep. 12 Apr.Sep. 13 Change %Change Net Sales (Billions of yen) 180.5 203.9 23.4 13.0% Sales volume (million cf) 153,562 159,671 6,109 4.0% Average unit price of overseas production (/thousand…
  18. November 2013 Financial Results – Inpex Corp – slide 18
    Analysis of Net Sales Increase (Billions of Yen) 700 Crude Oil (13.1) 116.7 Natural Gas (including LPG) +1.7 600 (6.7) (11.3) 500 (26.6) Crude Oil +82.7 400 Natural Gas (including LPG) +33.9 650.4 300 578.5 Crude Oil…
  19. November 2013 Financial Results – Inpex Corp – slide 19
    Statement of Income (Billions of Yen) Apr.Sep. 12 Apr.Sep. 13 Change %Change Crude Oil sales : 426.7 Net Sales 578.5 650.4 71.9 12.4% (Change) +58.9 Cost of Sales 201.9 249.2 47.2 23.4% Natural Gas sales* : 214.8 (Change) +19.8…
  20. November 2013 Financial Results – Inpex Corp – slide 20
    Other Income/Expenses Apr. Apr. (Billions of Yen) Change %Change Sep. 12 Sep. 13 Other income 39.2 18.3 (20.9) (53.2%) Interest income 3.1 8.7 5.6 183.2% Dividend income 2.0 2.1 0.1 9.0% Equity in earnings of affiliates 2.8 (2.8)…
  21. November 2013 Financial Results – Inpex Corp – slide 21
    Analysis of Net Income Decrease (Billions of Yen) Main Factors; 200 116.7 Decrease in gain on sales of investment securities (12: Sales of the Ichthys downstream JV share, etc.) (4.9) 180 Absence of oneoff gain on transfer of…
  22. November 2013 Financial Results – Inpex Corp – slide 22
    Balance Sheet (Billions of yen) Mar. 13 Sep. 13 Change %Change Available fund (Billions of yen) 1,512.0* Current assets 1,106.5 1,052.5 (53.9) (4.9%) Breakdown Tangible fixed assets 584.5 738.3 153.7 26.3% Cash and deposits : 573.4…
  23. November 2013 Financial Results – Inpex Corp – slide 23
    Statement of Cash Flows (Billions of Yen) Apr.Sep. 12 Apr.Sep. 13 Change %Change Income before income taxes and minority interests 363.8 350.6 (13.1) (3.6%) Depreciation and amortization 25.9 23.9 (2.0) (7.7%) Recovery of recoverable…
  24. November 2013 Financial Results – Inpex Corp – slide 24
    Differences between Consolidated Financial Forecasts and Actual Results for the six months ended September 30, 2013 Assumptions (August 2, 2013) 1st half (Previous Forecasts) Crude oil price (Brent) (US/bbl) 101.7 Exchange rate…
  25. November 2013 Financial Results – Inpex Corp – slide 25
    Revisions of Financial Forecasts for the year ending March 31, 2014 Assumptions (August 2, 2013) 1st half 2nd half Full year Crude oil price (Brent) (US/bbl) 101.7 100.0 100.8 Exchange rate (yen/US) 96.9 95.0 95.9 (November 7,…
  26. November 2013 Financial Results – Inpex Corp – slide 26
    Net Income Sensitivities (1/2) Sensitivities of crude oil price and foreign exchange fluctuation on consolidated net income for the year ending March 31, 2014 (Note 1) (This is the sensitivity as of the announcement made in May 2013.…
  27. November 2013 Financial Results – Inpex Corp – slide 27
    Net Income Sensitivities (2/2) Details on valuation for assets and liabilities denominated in the U.S. dollar Exchange gain/loss is booked in the Exchange gain/loss directly affects net assets Statements of Income. in the…

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