Key highlights 4Q14 Ebitda up 5% QoQ to 399 m, benefiting from Galp Energias integrated business profile, amidst a significant drop in oil price Production increased to 36.3 kboepd with FPSO 2 at full capacity and start of FPSO 3…
2014: volatility returns to the market Oil and LNG prices During 2014, oil prices decreased (/bbl) (/mmbtu) 120 25 100 20 to a four year low 80 15 60 10 LNG prices impacted by crude 40 5 price drop and increase in 1Q14 2Q14…
FPSO 3 reached output of c.65kbopd with two producer wells FPSO Cidade de Mangaratiba 2nd producer and 1st injector wells connected in December 2nd injector and 3rd producer wells expected during 1Q15 Injecting natural gas in…
FPSO 4 to start production in 4Q15 FPSO Cidade de Itagua Second unit allocated to Iracema, with 150 kbopd and 8 mmscmd installed capacity Hull converted in China and currently at Brasfels shipyard for topsides integration…
Iara: Declaration of Commerciality submitted at YE2014 Iara, Block BM-S-11 EWT in Iara West-2 ended in December, with average flow rate of c.29 kbopd Three FPSO units expected in the initial development phase, for Greater Iara…
Carcar: continuing to de-risk development Block BM-S-8 Currently drilling Carcar Extension-2, using a rig with MPD equipment 2nd phase of Carcar Extension to be drilled by 2H15 after 1st phase conclusion during November DST…
Mozambique: working towards FID Area 4 Petroleum Law and Decree Law for the Rovuma Project development approved at YE2014 DoC and PoD for Coral FLNG project already submitted, subject to FID Coral FLNG FEED+EPCIC developed by…
Downstream and gas: taking advantage of market dynamics Refining margins vs utilisation rate NG volumes (bcm) (/bbl) 100% 10.0 4,6 8.0 80% 4,0 4,1 3,8 3,7 6.0 60% 3,0 4.0 2,2 40% 2.0 0.0 20% 0,7 -2.0 0% -4.0 1Q14…
Ebitda up 15% YoY to 1,314m Profit & Loss RCA ( m) 4Q14 Upstream Ebitda 4Q14 4Q13 YoY 12M14 YoY decreased YoY, impacted by Turnover 4,470 4,717 (5%) 17,904 (9%) falling oil prices, despite higher Ebitda 399 271 +47% 1,314 +15%…
2014 capex of 1,143 m Capital expenditure ( m) E&P activities accounted for 87% of 2014 Groups capex, of which G&P 1,143 BM-S-11 represented 61% R&M 963 Exploration and appraisal FY capex mainly channelled to Brazil E&P D&P…
Robust cash flow from operations Cash Flow ( m)1 4Q14 4Q13 12M14 12M13 Ebit IFRS (166) 116 180 401 Dividends from associates 19 20 74 64 DD&A 162 138 614 585 Change in working capital 316 110 326 30 Cash flow from operations 331…
Maintaining a sound capital structure Balance sheet ( m)1 Falling commodity prices drives Dec.2014 Sep.2014 Dec-Sep Dec.2013 Dec-Dec the reduction in working capital Fixed and LT assets 7,599 7,413 +186 6,883 715 Work in progress…
Funding in place to support capex programme Debt reimbursement profile1 ( m) Gross debt of 3.7 bn with 1,000 31 Dec 2014 30 Sept 2014 average maturity of 3.7 years 800 and average interest rate of 600 4.2%1 400 Maturing…
Concluding remarks Lula/Iracema reservoir continued to deliver ahead of expectations DoC for Iara area submitted to ANP DoC and PoD for Coral submitted and working towards FID in Area 4 projects 4Q14 results benefited from…
E&P: Operational results impacted by current oil market environment Main E&P data Higher production in Brazil, due 4Q14 4Q13 YoY 12M14 YoY to FPSO 2 at full capacity and start of operations of FPSO 3 Working interest production…
R&M: Ebitda increase driven by improved refining margins Main R&M data Flexibility of refining system and 4Q14 4Q13 YoY 12M14 YoY favorable market conditions contributed to a 4Q14 premium Galp Energia refining margin USD/bbl 5.4…
G&P: Ebitda up 5% YoY due to higher LNG international sales Main G&P data LNG structured trading volumes 4Q14 4Q13 YoY 12M14 YoY increased with focus in Asian and Latin American markets NG supply total sales volumes mm3 1,885 1,941…
Investor Relations team Pedro Dias, Head Otelo Ruivo, IRO Ctia Lopes Joana Pereira Marta Silva Pedro Pinto +351 21 724 08 66 Investor.relationsgalpenergia.com For further information on Galp Energia, please go to:…
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