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May 2006 Financial Results – Inpex Corp

Inpex Corp · May 17, 2006 · 59 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 2006 Financial Results – Inpex Corp – slide 1
    September 5, 2006 Correction to the Presentation Material of the financial results for the year ended March 31, 2006 INPEX Holdings Inc. today announced that corrections has been made to the Presentation Material of the…
  2. May 2006 Financial Results – Inpex Corp – slide 2
    Attached Sheets Original Proved Reserves* (By Resource Type / By Region) (As of March 31, 2006) (As of March 31, 2006) By Resource Type By Region 2,000 2,000 1,773 1,773 1,800 1,800 1,571 1,571 8% 1,600 1,600 7% 1,400 683…
  3. May 2006 Financial Results – Inpex Corp – slide 3
    Attached Sheets Original Upside Potential from Probable Reserves* (As of March 31, 2006) 4,000 Reserve Life** 3,650 (RP Ratio) 3,500 3,000 1,877 1,877 2,500 MMBOE 1,773 2,000 26.3 years 1,500 403 403 403 1,000…
  4. May 2006 Financial Results – Inpex Corp – slide 4
    Attached Sheets Original Proved Reserves* (compared to global E&P companies) 22,108 22,000 17,579 Natural Gas 50% 11,985 11,906 Crude oil/Condensate/LPG 12,000 46% 11,000 10,717 10,000 9,616 33% 9,000 39% 55% 8,000…
  5. May 2006 Financial Results – Inpex Corp – slide 5
    Attached Sheets Original Reserve Replacement Ratio*(RRR)(20032005 Average) 500% 416% 400% 300% 271% 193% 188% 200% 171% 167% 156% 142% 140% 129% 118% 115% 106% 99% 95% 100% 0% INPEX Holdings***…
  6. May 2006 Financial Results – Inpex Corp – slide 6
    INPEX Holdings Inc. Financial Results for the year ended March 31, 2006 Tokyo May 17, 2006 1
  7. May 2006 Financial Results – Inpex Corp – slide 7
    Agenda 1. Teikoku Oil Consolidated Financial Results for the year ended 31 December, 2005 and Consolidated Financial Results for the year ended March 31, 2006 Yoshitsugu Takai, Managing director, Teikoku Oil Co., Ltd. 2. INPEX…
  8. May 2006 Financial Results – Inpex Corp – slide 8
    Teikoku Oil Financial Results for the year ended December 31, 2005 and Financial Results for the year ended March 31, 2006 4
  9. May 2006 Financial Results – Inpex Corp – slide 9
    Consolidated Subsidiaries and Affiliates INPEX TEIKOKU Domestic Operation Overseas Operation Oil and GasRelated Businesses Teikoku Oil (Venezuela) Co., Ltd.* (Venezuela , Production) Teikoku Gas Venezuela, C.A. (Venezuela ,…
  10. May 2006 Financial Results – Inpex Corp – slide 10
    Overview of Consolidated Financial Results for the year ended December 31, 2005 INPEX TEIKOKU Sales and net income increased, reflecting expansion of overseas business and higher oil price Net Sales Operating Profit, Ordinary…
  11. May 2006 Financial Results – Inpex Corp – slide 11
    Net Sales by Products INPEX TEIKOKU (Millions of Yen) Dec.2004 Dec.2005 Change % Change Natural Gas 34,534 38,004 3,470 10% Liquefied Petroleum Gas 1,957 2,280 323 17% Crude Oil 10,219 17,702 7,483 73% Petroleum Products 33,372…
  12. May 2006 Financial Results – Inpex Corp – slide 12
    Natural Gas Sales INPEX TEIKOKU Sales for Teikoku Oil increased, reflecting sales expansion to industrial users, due to higher sales volumes by 2.4 billion yen and lower unit price by 0.8 billion yen. Venezuela projects were…
  13. May 2006 Financial Results – Inpex Corp – slide 13
    Crude Oil Sales INPEX TEIKOKU Sales for D.R. Congo increased by higher oil price while sales volumes decreased by 2 shipments. Venezuela projects were converted to fully be consolidated, and the consolidation of The Egyptian…
  14. May 2006 Financial Results – Inpex Corp – slide 14
    Other Income/Expenses INPEX TEIKOKU Decrease in the equity in earnings of affiliates Increase in the provision for allowance for losses on overseas investments (Millions of Yen) Dec.2004 Dec.2005 Change Other Income Interest income &…
  15. May 2006 Financial Results – Inpex Corp – slide 15
    Statements of Income INPEX TEIKOKU (Millions of Yen) Dec.2004 Dec.2005 Change % Change Net Sales 84,032 100,716 16,684 20% Purchase of petroleum 2,789 products & gasoline tax Cost of Sales 48,455 55,473 7,018 *1 Venezuela…
  16. May 2006 Financial Results – Inpex Corp – slide 16
    Balance Sheets INPEX TEIKOKU Increase in the construction in progress by constructing new pipelines and facilities Increase in marketable securities due to higher stock price Increase in longterm borrowings due to new borrowings for…
  17. May 2006 Financial Results – Inpex Corp – slide 17
    Statements of Cash Flows INPEX TEIKOKU Increase in income before income taxes and minority interests and increase in long term borrowings due to new borrowings for domestic operations etc. (Millions of Yen) Dec.2004 Dec.2005…
  18. May 2006 Financial Results – Inpex Corp – slide 18
    Statements of Income : JanMar 2006 INPEX TEIKOKU (Millions of Yen) Sales by segment Mar.2006 Net Sales 27,718 Natural Gas 12,951 Liquefied Petroleum Gas 235 Cost of Sales 12,807 Crude Oil 3,995 Exploration Expenses 740 Petroleum…
  19. May 2006 Financial Results – Inpex Corp – slide 19
    Natural Gas Sales : JanMar 2006 INPEX TEIKOKU (Millions of Yen) FY12/05 1Q Mar.2006 Change Net Sales 12,032 12,951 919 (Teikoku Oil, Offshore Iwaki) (11,616) (12,281) (665) (Venezuela projects) (415) (669) (254) *(Teikoku Oil)…
  20. May 2006 Financial Results – Inpex Corp – slide 20
    Crude Oil Sales : JanMar 2006 INPEX TEIKOKU FY12/05 1Q Mar.2006 Change Sales Volume (thou bbl) 864 700 164 Net Sales (Millions of Yen) 3,507 3,995 488 (Unit/Volume : thousand bbl, Value : Millions of Yen, Unit price : /bbl…
  21. May 2006 Financial Results – Inpex Corp – slide 21
    INPEX CORPORATION Consolidated Financial Results for the year ended March 31, 2006 17
  22. May 2006 Financial Results – Inpex Corp – slide 22
    Subsidiaries and Affiliates INPEX TEIKOKU 26 consolidated One exploration subsidiary established and subsidiaries One exploration subsidiary liquidated since March, 2005 Major subsidiaries Country/region Ownership Stage INPEX…
  23. May 2006 Financial Results – Inpex Corp – slide 23
    Highlights of the Consolidated Financial Results for the year ended March 31, 2006 INPEX TEIKOKU (Billions of yen) Mar. 2005 Mar. 2006* Change % change Net sales 478.5 704.2 225.6 47.1% Operating income 268.6 426.6 157.9 58.8%…
  24. May 2006 Financial Results – Inpex Corp – slide 24
    Crude Oil Sales INPEX TEIKOKU Background reasons for the sales increase in crude oil 9 Sales volume increased by 6.8% yearoveryear from increase in production at JODCO (ADMA Block), INPEX Southwest Caspian Sea (ACG oil fields) 9…
  25. May 2006 Financial Results – Inpex Corp – slide 25
    Natural Gas Sales INPEX TEIKOKU Background reasons for the sales increase in natural gas 9 Sales volume decreased by 4.5% yearoveryear 9 Average unit price rose sharply by 29.3% yearoveryear along with higher oil prices 9 The yen…
  26. May 2006 Financial Results – Inpex Corp – slide 26
    Analysis of Net Sales Increase INPEX TEIKOKU (Billions of yen) 38.3 700 600 175.8 11.5 500 400 704.2 300 478.5 200 100 0 Sales Volume Increase in Depreciation Mar. 2005 Mar. 2006 Increase Unit Price of the…
  27. May 2006 Financial Results – Inpex Corp – slide 27
    Statements of Income INPEX TEIKOKU (Billions of yen) Mar. 2005 Mar. 2006 Change %change Net Sales 478.5 704.2 225.6 47.1% Cost of sales 197.0 257.9 60.8 30.9% Exploration expenses 2.4 5.5 3.0 123.2% Selling, general and…
  28. May 2006 Financial Results – Inpex Corp – slide 28
    Other Income/Expenses INPEX TEIKOKU (Billions of yen) Mar. 2005 Mar. 2006 Change %change Other income 4.7 12.2 7.5 159.0% Interest income 4.0 9.7 5.6 140.0% Equity in earnings of affiliates 1.3 1.3 Other 0.6 1.1 0.5 74.3% Other…
  29. May 2006 Financial Results – Inpex Corp – slide 29
    Balance Sheets INPEX TEIKOKU (Billions of yen) Mar. 20005 Mar. 2006 Change %change Current assets 238.4 257.5 19.1 8.0% Tangible fixed assets 68.2 65.2 (3.0) (4.5%) Intangible assets 138.6 136.7 (1.8) (1.4%) Recoverable accounts…
  30. May 2006 Financial Results – Inpex Corp – slide 30
    Statements of Cash Flows INPEX TEIKOKU (Billions of yen) Mar. 2005 Mar. 2006 Change %change Income before income taxes and minority interests 258.6 403.5 144.9 56.0% Depreciation and amortization 12.9 16.0 3.1 24.0% Recovery of…
  31. May 2006 Financial Results – Inpex Corp – slide 31
    Financial Indices INPEX TEIKOKU Net ROACE* ROE** 24.6% 22.2% 22.6% 20.2% 13.9% 13.1% '04.3 '05.3 '06.3 '04.3 '05.3 '06.3 Net Debt / Total Capital Employed*** Equity Ratio**** 12.0% 52.9% 52.8% 51.9% (13.3% ) (19.6%…
  32. May 2006 Financial Results – Inpex Corp – slide 32
    INPEX Holdings Revision of Financial Forecasts for the year ending March 31, 2007 28
  33. May 2006 Financial Results – Inpex Corp – slide 33
    Revision of Assumptions Previous assumptions (April 3, 2006) 1st half Full year Crude oil price (Brent)(/bbl) 50.0 Exchange rate (yen/US) 115.0 Revised assumptions (May 16, 2006) 1st half Full year Crude oil price (Brent)(/bbl)…
  34. May 2006 Financial Results – Inpex Corp – slide 34
    Revision of Financial Forecasts and Dividend Forecasts for the year ending March 31, 2007 Financial Forecasts (Consolidated) Previous forecast Revised forecast Fluctuation Ratio Net Sales(billions of yen) 769.0 794.0 25.0 3.3%…
  35. May 2006 Financial Results – Inpex Corp – slide 35
    Revision of Financial Forecasts for the six months ending September 30, 2006 Financial Forecasts (1st Half Consolidated) Previous forecast Revised forecast Net Sales(billions of yen) 375.0 Ordinary income(billions of yen) 209.0…
  36. May 2006 Financial Results – Inpex Corp – slide 36
    Sales Volume* and Net Sales Sales Volume of Crude Oil and Petroleum Products Sales Volume of Natural Gas Net Sales (Bcf) (Billions of yen) (MMbbl) 100 400 800 90 350 700 80 300 600 70 250 500 60 50 200 385.5 400 805.0…
  37. May 2006 Financial Results – Inpex Corp – slide 37
    Net Income Sensitivities Estimated Impact of crude oil price and foreign exchange fluctuation on consolidated net income for the year ending March 31, 2007 (Billions of yen) Brent Crude Oil Price 1/bbl increase (decrease)…
  38. May 2006 Financial Results – Inpex Corp – slide 38
    Activities of Domestic Natural Gas Business 34
  39. May 2006 Financial Results – Inpex Corp – slide 39
    Building the Domestic Infrastructure An original design will be completed in 2007 Domestic Reserves (To be expanded) Natural Gas : About 23.8 billion cubic meters (as of end2005 : R/P over 30 years) Development of the northern…
  40. May 2006 Financial Results – Inpex Corp – slide 40
    For further business expansion Further reinforcement of gas supply infrastructure Reviewing the infrastructure reinforcement to meet the growing demand for natural gas in our current service area and its surrounding areas…
  41. May 2006 Financial Results – Inpex Corp – slide 41
    Growth of Domestic Natural Gas Business Pipeline Target for gas sales to Extensions Natural Gas Sales Volume (kilometers) be achieved in an earlier (Millions of Cubic Meters) Natural Gas Sales Volume (target) stage 1,800 1,600…
  42. May 2006 Financial Results – Inpex Corp – slide 42
    Activities of Overseas Project 38
  43. May 2006 Financial Results – Inpex Corp – slide 43
    Highlight of FY20062007 Overseas Business FY2006 (Mar. 2006) FY2007 (Mar. 2007) Commenced natural gas production at APN Commenced Australian federal and West Australian state government approval process for assessment of…
  44. May 2006 Financial Results – Inpex Corp – slide 44
    Progress of Major Projects Existing Profit Center: Offshore Mahakam, Indonesia Plan for FY2007 (Mar. 2007) Continuous gas field development to support stable LNG supply from the Bontang LNG Plant (Staged development at the Tunu…
  45. May 2006 Financial Results – Inpex Corp – slide 45
    Progress of Major Projects Long Term Growth Driver (1): ACG, Kashagan in the Caspian Sea ACGAzeriChiragGunashili) Oil Fields, Azerbaijan Phase 1 (Central Azeri) startup in February 2005 Phase 2 (West and East Azeri): West Azeri…
  46. May 2006 Financial Results – Inpex Corp – slide 46
    Progress of Major Projects Long Term Growth Driver (2): Venezuela East Guarico / SanviGuere Block (Venezuela) Commenced operating service from 1992 (Over 10 years experience and strong presence as an operator in Venezuela)…
  47. May 2006 Financial Results – Inpex Corp – slide 47
    Progress of Major Projects Large Scale Operator Projects: Ichthys, Abadi and Azadegan Ichthys GasCondensate Field, Australia (WA285P Block) Proactively conducting feasibility studies and gas marketing for the commercialization of…
  48. May 2006 Financial Results – Inpex Corp – slide 48
    Corporate Strategy 44
  49. May 2006 Financial Results – Inpex Corp – slide 49
    Progress of Integration Since establishment of the holding company, INPEX Holdings Inc. on April 3, commenced development of organization structure toward completion of integration (merger of the holding company and the two…
  50. May 2006 Financial Results – Inpex Corp – slide 50
    INPEX Holdings Organization Structure Consolidated employees (as of April 3rd)1,710 Shareholders Overseas bases11 Resident employee103 meeting Jakarta (Indonesia) Perth (Australia) Tehran (Iran) Abu Dhabi (UAE) Houston (US) London…
  51. May 2006 Financial Results – Inpex Corp – slide 51
    Key Strategy of INPEX Holdings Strengthening global competitiveness through integration (Strengthen financial base, technical capability, and business development) Wellbalanced Asset Strengthened Presence Enhanced Capability as…
  52. May 2006 Financial Results – Inpex Corp – slide 52
    Proved Reserves* (By Resource Type / By Region) (As of March 31, 2006) (As of March 31, 2006) By Resource Type By Region 2,000 2,000 1,775 1,775 1,800 1,800 1,571 1,571 8% 1,600 1,600 7% 1,400 685 1,400 517 1,200 1,200 47%…
  53. May 2006 Financial Results – Inpex Corp – slide 53
    Upside Potential from Probable Reserves* (As of March 31, 2006) 4,000 Reserve Life** 3,655 (RP Ratio) 3,500 3,000 1,881 1,881 2,500 MMBOE 1,775 2,000 26.4 years 1,500 403 403 403 1,000 12.8 years 1,372 1,372 1,372…
  54. May 2006 Financial Results – Inpex Corp – slide 54
    Proved Reserves* (compared to global E&P companies) 22,108 22,000 17,579 Natural Gas 50% 11,985 11,906 Crude oil/Condensate/LPG 12,000 46% 11,000 10,717 10,000 9,616 33% 9,000 39% 55% 8,000 33% 6,705 MMBOE 7,000…
  55. May 2006 Financial Results – Inpex Corp – slide 55
    Production Volume* (compared to global E&P companies) 4,065 3,986 4,500 Natural Gas 38% 37% 3,477 Crude oil/Condensate/LPG 2,418 2,378 2,500 40% 1,868 1,697 33% 30% 1,400 33% 1,200 35% 1,141 1,101 Thousand BOE/d 1,000…
  56. May 2006 Financial Results – Inpex Corp – slide 56
    Production Startup Schedule Australia/Timor Sea JPDA Ichthys Abadi Australia Indonesia 2015 Ravensworth Australia 2014 Vincent Australia Indonesia 2013 Kuda Tasi Jahal Timor Sea Joint Petroleum Development Area North…
  57. May 2006 Financial Results – Inpex Corp – slide 57
    Reserve Replacement Ratio*(RRR)(20032005 Average) 500% 417% 400% 300% 271% 193% 188% 200% 171% 167% 156% 142% 140% 129% 118% 115% 106% 99% 95% 100% 0% INPEX Holdings*** Conoco Phillips PTTEP ENI…
  58. May 2006 Financial Results – Inpex Corp – slide 58
    Production Volume Projection* By Region Caspian Sea/Other Middle East .5% 2011 CAGR: 5 550 Asia/Oceania (Including Japan) 006- g M ar ch 31, 2 in 496 ded/end 500 Year en 450 25% 400 380 350 336 14% (1,000 BOED) 9% 300…
  59. May 2006 Financial Results – Inpex Corp – slide 59
    Exploration/Development Investments By Activity By Region (Billions of Yen) (Billions of Yen) 300 300 260.0 260.0 251.0 251.0 250 250 204.9 204.9 103.4 77.3 200 186.6 200 186.6 62.8 150 223.1 150 77.2 32.3 60.1 231.4…

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