29 April 2013 Results FIRST QUARTER 2013 An integrated energy player focused on exploration and production
Key highlights Strategy execution update Business overview Final remarks Appendix 2 Results - First quarter 2013
Key highlights Ongoing exploration campaign, namely in Potiguar and in Namibia Focus on mitigating execution risk, with two additional FPSO contracted for Lula field FPSO Cidade de Paraty already located in Lula NE, on track to…
Key highlights Strategy execution update Business overview Final remarks Appendix 4 Results - First quarter 2013
Currently drilling the first exploration well in Namibia Namibia: hydrocarbon seepage map Wingat prospect at the Walvis basin started to be drilled on March 26, and results are expected until the end of the 2Q13 Material 2013…
Drilling the first exploration well at the Brazilian Equatorial margin Potiguar Drilling of the Ararana prospect in Potiguar started on February 11, targeting the Cretaceous interval Results expected at the end of the quarter,…
Drilling at the Agulha-1 oil prospect expected to start in May Mozambique Agulha-1 (former K Bulge) prospect is the first exploration well targeting oil, and results are expected until early 3Q13 Drilling at the South to start…
Carrying a promising exploration and appraisal drilling campaign Galp Energia 2013 drilling schedule Spud Duration Well Area Target Interest E/ A date ( days) status Brazil* Lula Lula West-2 10% A 4Q12 - Concluded Iara Iara…
Continuously reinforcing confidence on Lula development project Lula/Iracema planned installed capacity (kbopd) Two additional FPSO contracted on the international market to start producing by 1,400 Lula West 2016 1,200 Lula…
Lula field, with second FPSO on track for first oil in early June FPSO Cidade de Paraty (120 kbopd) FPSO Cidade de Paraty is already on location being moored, after it passed on all standard safety tests Production to start…
Testing WAG performance in Lula field CMD 2013: Lula/Iracema - Recovery factor Recovery factor in Lula/Iracema fields recently revised upwards from 23% to 28% Starting to test the WAG mechanism with FPSO Cidade de Angra dos…
New units at the Sines refinery operating steadily New units at the Sines refinery Gradual start-up of new units constraining margin capture in 1Q13 Hydrocraker currently operating at full capacity Refining system ready to…
Key highlights Strategy execution update Business overview Final remarks Appendix 13 Results - First quarter 2013
Ebitda in Q1 of 253 m, up 24% YoY Profit & Loss ( m) Ebitda increase mainly driven by positive improvement in 1Q13 1Q12 YoY QoQ refining and LNG trading Turnover 4,471 4,795 (7%) +6% activities Ebitda 253 204 +24% +8% E&P 91…
Solid gearing maintained Balance sheet ( m) Fixed assets increase driven by investment in the upstream activities Mar.2013 Dec.2012 Mar - Dec Fixed assets 6,862 6,599 +263 Net debt increased on the back Work in progress 2,803…
Short term outlook 2Q13 working interest production targeted at c.22 kboepd, as FPSO Cidade de Angra dos Reis undergoes maintenance work Upgrade project full contribution expected in the 2Q, as the hydrocracking complex operates…
Key highlights Strategy execution update Business overview Final remarks Appendix 17 Results - First quarter 2013
Final remarks Exploration campaign to proceed in other areas, namely Agulha-1 in Mozambique and Bracuhy in Santos basin Second FPSO at Lula field begins production at the beginning of June, contributing to relevant production…
Key highlights Strategy execution update Business overview Final remarks Appendix 19 Results - First quarter 2013
Net entitlement production up 21% YoY in 1Q13 Main E&P data Lula-1 project drove production 1Q13 1Q12 YoY QoQ growth with an average production of 11.5 kboepd Working interest production kboepd 23.5 22.6 +4% +1% Net entitlement…
Improved refining activity driving 82% increase in R&M Ebitda Main R&M data Refining business benefited from improved refining 1Q13 1Q12 YoY QoQ margins and higher crude Galp Energia refining margin USD/bbl 1.8 0.8 n.m. +92%…
LNG trading volumes increased by 15% YoY Main G&P data LNG trading volumes 1Q13 1Q12 YoY QoQ accounted for c.40% of volumes sold NG supply total sales volumes mm3 1,721 1,725 (0%) +10% Sales to direct clients mm3 1,075 1,165…
Around 80% of total capex allocated to E&P activities in 1Q13 Capital expenditure ( m) Exploration activities responsible for c.30% of G&P upstream capex R&M E&P - Production Lula project responsible for the E&P - Exploration…
Extending debt maturities in line with financing strategy M/L-term debt reimbursement profile2 ( m) 1,200 Addressing refinancing needs with c.1.3 bn already secured 1,000 in 2013 800 600 400 Net debt to Ebitda of 0.9x, if…
Investor Relations team Tiago Villas-Boas, Head Ctia Lopes Ins Santos Maria Borrega Pedro Pinto +351 21 724 08 66 Investor.relationsgalpenergia.com For further information on Galp Energia, please go to: www.galpenergia.com Results…
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