11 February 2013 Results & Strategy execution update FULL YEAR AND FOURTH QUARTER 2012 Solid foundations to deliver sustainable value
Key highlights Strategy execution update Business overview Final remarks Appendix 2 Full year and fourth quarter 2012 results
Key highlights Carcar and Jpiter NE results supporting respective development plans Completion of two additional appraisal wells in Mozambique raised estimated gas in place up to 75 Tcf Strengthening exploration portfolio with…
Key highlights Strategy execution update Business overview Final remarks Appendix 4 Full year and fourth quarter 2012 results
Carcar well de-risked the development project of BM-S-8 BM-S-8 Carcar well proved a significant oil discovery with a 471 meters oil column Appraisal well to assess reservoir extension and DST to be performed to test reservoir…
Relevant data gathered from Jpiter NE appraisal well BM-S-24 Jpiter NE well confirmed the continuity of the reservoir and the same hydrocarbon mix Ongoing appraisal and evaluation studies on potential development options…
Preparing Rovuma LNG project whilst looking for exploration upside Mozambique Mamba complex estimated GIIP increased to up to 75 Tcf Mamba appraisal activities expected to be concluded ; Mamba NE-2 during 1H13 after the…
First well about to start in Namibia after recent farm-in Namibia Primary objectives with estimated gross recoverable exploration resources of almost 8 bln bbl1 with PoSs in the 20%-30% range Rig already arrived in Namibian…
Morocco is the first exploration operated offshore project Morocco Relevant stake of 50% acquired along with operatorship in shallow waters The primary target, Trident, has estimated gross recoverable exploration resources of…
Promising exploration and appraisal drilling activity in 2013 2013 key impact wells Duration Country Area Target Interest E/ A Spud Date ( days) Lula Lula West - 2 10% A 4Q12 120 BM-S-8 Carcar (extension) 14% A 4Q13 120 BM-S-24…
FPSO Cidade de Paraty delivery on track to start by 2Q13 FPSO Cidade de Paraty FPSO Cidade de Paraty topsides integration works almost completed and should leave the shipyard in March Lula NE production expected to start in…
Hydrocracker production ramping-up during first quarter New units at Sines refinery Hydrocracker complex initiated commercial production phase in January 10 New units production steadily increasing, with maximum capacity…
Key highlights Strategy execution update Business overview Final remarks Appendix 13 Full year and fourth quarter 2012 results
Net profit in 4Q12 of 83 Mln, up 10% YoY Profit & Loss (Mln) 4Q12 4Q11 YoY QoQ 12M12 YoY EBITDA increase driven by higher Brazilian Turnover 4,231 4,375 (3%) (14%) 18,507 +10% production and higher EBITDA 229 208 +10% (25%) 1,015…
Sound financial structure maintained Balance sheet (Mln) Dec.2012 Sep.2012 Dec - Sep Dec.2011 Dec - Dec Net debt increase QoQ mainly driven by capex Fixed assets 6,599 6,430 +169 6,002 +597 execution Work in progress 2,655 2,559…
Short term outlook 1Q13 working interest production targeted at c.24 kboepd Refining margin to benefit from production ramp-up of the hydrocracker complex throughout 1Q13 Marketing volumes down YoY, impacted by the Iberian macro…
Key highlights Strategy execution update Business overview Final remarks Appendix 17 Full year and fourth quarter 2012 results
Final remarks New areas of exploration portfolio to be derisked starting in 1Q13 Production growth profile reinforced in 2013 with the start-up of Lula NE project Sines hydrocracker ramping up towards steady production…
Dont miss our Capital Markets Day 2013 19 Full year and fourth quarter 2012 results
Key highlights Strategy execution update Business overview Final remarks Appendix 20 Full year and fourth quarter 2012 results
Production increased 8% YoY despite maintenance activities in 4Q12 Main E&P data Lula-1 project drove 4Q12 4Q11 YoY QoQ 12M12 YoY production growth with an Working interest production kboepd 23.4 21.6 +8% (10%) 24.4 +17% average…
EBITDA 51% higher YoY on the back of the less adverse environment Main R&M data Refining business benefited 4Q12 4Q11 YoY QoQ 12M12 YoY from increase in benchmark Galp Energia refining margin /bbl 0.9 (0.0) n.m. (78%) 2.2 n.m.…
NG volumes increased by 10% YoY following stronger LNG trading Main G&P data 4Q12 4Q11 YoY QoQ 12M12 YoY LNG trading activity weighing around 40% of NG supply total sales volumes M m3 1,558 1,414 +10% +6% 6,253 +17% natural gas…
Around 70% of total capex allocated to E&P activities in 4Q12 Capital expenditure (Mln) Exploration activities G&P responsible for c.40% of R&M E&P - Production upstream capex E&P - Exploration 1000 940 Lula project…
Average interest rate of 4.5% maintained M/L-term debt reimbursement profile (Mln) Total net debt of 1.7 Bln or 1,200 0.8 Bln if loan to Sinopec 1,000 was considered as cash and 800 equivalents 600 400 200 Net debt to…
Investor Relations team Tiago Villas-Boas, Head of IR Ctia Lopes Ins Santos Maria Borrega Pedro Pinto +351 21 724 08 66 investor.relationsgalpenergia.com www.galpenergia.com Results & presentation weblink For further information on…
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