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JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production

Kazmunaigas Exploration Production · Jun 13, 2011 · 25 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. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 1
    JSC KazMunaiGas Exploration Production Investor meeting June 2011 Astana 1
  2. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 2
    KMG EP: key subsidiary of National Company KazMunaiGas Mining Kazakhmys (11%) Republic of Kazakhstan Finance sector BTA (81.5% ) 100% Halyk Bank (11.55%) (11 55%) Kazkommertsbank (18.3%) Alliance Bank (56.2%) Holding…
  3. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 3
    Operating overview RUSSIA Pavlodar Stepnoi Leopard Fedorovskiy block KAZAKHSTAN 4.8 (7.5) mtpa EMG Astana Temir Liman Atyrau PKI 33% Taisoigan 4.3 (4.9) mtpa KOA 50%, KTM 51% East Zharkamys 1 KGM 50% Teresken R9…
  4. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 4
    KMG EP Investment Case Top Kazakh Oil Producers (kbopd, 2010) TCO 520 The largest listed Kazakh oil producer KMG EP pro-forma 270 69 339 (2) KPO 229 Delivery of strategic goals since IPO in 2006 KMG EP (UMG+EMG) 177 Unique…
  5. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 5
    KMG EP: Opportunity to co-invest with the Government IPO New Capital Growth Strategy US2bn S2 Near-term: Near term: selective acquisition of available onshore assets in Legacy Assets Kazakhstan Support from NC KMG…
  6. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 6
    2P Reserves, mmbbl 2,550 Acquisitions in progress2: 408 - MMG 50% 2,130 - KOA 50% 120 (108) - KTM 51% 363 363 435 272 Existing assets: - UMG, EMG 100% - KGM 50% - CCEL 50% 1,767 1,707 - PKI 33% 1,495 As at…
  7. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 7
    Production growth 342 350 Acquisitions in progress2: 300 - MMG 50% 270 + 1% - KOA 50% - KTM 51% 242 240 232 250 200 kbopd 150 100 192 192 190 183 181 177 50 0 2006 2007 2008 2009 2010 2011E(1) KOA, KTM, MMG…
  8. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 8
    Completed acquisitions PRODUCING ASSETS Asset, % KGM CCEL PKI Total Acquisition date (50%), April 2007 (50%), December 2007 (33%), December 2009 Deal price US971m US150m + US100.5m + US1,221.5m + US782m non-recourse debt US831m…
  9. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 9
    Acquisitions in progress, 2011 PRODUCING ASSETS Asset MMG Total (50%) (51%) (50%) Deal price US466m: US123m: US1,660m: US2,249m: US350m cash + US70m cash+ US330m cash + US750m cash + US116m net debt US53m net debt US1,330m…
  10. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 10
    Summary of JVs financial results in 2010(1) Sum/ 2010FY CCEL 50% KGM 50% PKI 33% Average Production volume th.tons 970 1,551 1,998 4,519 mbbl 6,482 11,944 15,476 33,901 Sales by destination th.tons 957 1,537 1,781 4,275 Export p…
  11. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 11
    Exploration portfolio Historical portfolio: Acquisitions in 2009-2010: West Novobogatinskoe (NBK) Liman block East Zharkamys-1 (SBS1) Stepnoi Leopard R9 block Kolzhan (PKI, 33%)2 Fedorovsky block Taisoigan Taisoigan Temir…
  12. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 12
    Exploration: key figures UOM 2009A 2010A 2011E Overall exploration expenditure, 17 47 100(3) including -Total exploration capex 14 33 - USm -Exploration 3 7 - -Supplemental exploration 11 26 (1) - -Opex 3 14 (2) - Number of…
  13. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 13
    Key exploration projects in 2011 (1) License duration Acreage Reserves estimate Drilling in 2011 (depth) Seismic in 2011 Liman 19.02.20112 6,468 km2 27 mmbbl 2 post-salt wells 3D (165 km2) ((P50)) ((3,050 m)) R9 26.08.20112 5,894 km2…
  14. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 14
    Capital expenditures UMG & EMG CAPEX, USm Budgeted Capex in 2011 US709m: 588 327 348 294 Development drilling US333m 2007 2008 2009 2010 Construction, equipment and other US281m Exploration drilling US95m Share in associates…
  15. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 15
    Financial summary USm unless otherwise indicated 2007 2008 2009 2010 1Q11 Production at Core assets (kbopd) 192 190 181 177 171 Crude sales 3,974 5,029 3,291 4,135 1,308 Total operating costs ( (1,720) ) ( (2,470) ) ( (2,241)…
  16. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 16
    Production costs(1), /bbl 12.4 10.7 14.2 14.0 14.1 95 9.5 13 13.5 5 9.6 11.8 10.9 10.0 10.0 10.2 10.0 10.2 9.5 9.6 92 9.2 8.5 8.7 7.9 8.6 7.6 7.6 6.8 6.2 6.4 6.1 5.1 5.1 5.3 5.3 4.4 4.5 4.3 4.3 4.4 4.3…
  17. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 17
    Export and domestic sales (Core assets) Sales volume, kbopd 1Q11 Netbacks 193 US/bbl UAS CPC Domestic Average g 183 180 174 170 Brent 105.43 105.43 n/a n/a Sales price 98.61 104.32 26.72 87.05 55% Quality bank - (8.62) - (2.64)…
  18. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 18
    Net Cash & Financial Assets As at 31/03/11, USbn 1.5 0.8 3.5 4.1 Cash and NC KMG Bond Debt Net cash cash equivalents Treasury policy update: changes in cash allocation by banks 30/06/10, USbn 31/03/11, USbn 1.5 1.0…
  19. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 19
    Business and financial highlights Consolidated production in 1Q11 261 kbopd, 0.3% lower QoQ (270 kbopd in FY10, 16% higher YoY) Consolidate export sales in 1Q11 219 kbopd, 3% higher g QoQ ((215 kbopd in FY10, 20% higher g YoY))…
  20. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 20
    Tax regime since 2009 Rent tax and MET are linked to oil price Export Rent tax: progressive scale from 7% to 32% 60 Mineral Extraction Tax (MET): depends on 50 production d ti b by contract, t t 12%. 12% DDomestic ti…
  21. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 21
    Crude oil export taxation 17th May 2008 Export duty 15/bbl 1st January 2011 E Exportt duty d t 5.4/bbl 5 4/bbl 160 11th October 2008 Export duty 28/bbl 140 1st January 2009 16 August 2010 120 Export duty 2.7/bbl New Tax…
  22. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 22
    Tax sensitivity Estimated tax take(1) at different oil prices based on 2010 cost structure Tax burden (/bbl) 80.0 72.8 59.3 60 0 60.0 46.4 40.0 34.5 23 0 23.0 17.4 20.0 11.7 0.0 40 50 60 80 100 120 140 Export duty Rent…
  23. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 23
    Cash Distributions to Shareholders 2007 18 May 2007 (AGM): dividend of US300m, Declared Dividends, KZT per share (US per GDR) including special dividend of US150m 656 704 800 500 563 2008 28 May 2008 (AGM): dividend of US344m,…
  24. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 24
    Reference Information Share information, 05/05/2011 Contacts Total Treasury Corporate website: www.kmgep.kz www kmgep kz Number of ordinary shares 70,220,935 1,791,264 Number of preferred shares 4,136,107 1,778,815 Investor…
  25. JUNE 2011 INVESTOR PRESENTATION – Kazmunaigas Exploration Production – slide 25
    Abbreviations list bbl barrel mmbbl million barrels bn bbl billion barrels bopd barrels per dayy kbopd thousand barrels per day US m million US dollars US bn billion US dollars KZT bn billion Tenge NC KMG National N ti lC Company K…

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