Skip to main content MARCH 2009 STRATEGY UPDATE – Galp Energia Investor Presentation | Shale Experts
Loading...
Pm

MARCH 2009 STRATEGY UPDATE – Galp Energia

Galp Energia · Mar 5, 2009 · 34 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. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 1
    STRATEGY UPDATE - 2013 Lisbon, 5 March 2009
  2. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 2
    GALP ENERGIA IN A TRANSFORMATIONAL PHASE Working interest production Diesel production kboepd kboepd 10x 150 +40% 140 100 15 2008 Target 2008 Target Sales to direct clients Natural gas supply Refining Bcm coverage…
  3. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 3
    EXPLORATION & PRODUCTION
  4. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 4
    VERY STRONG RESOURCE GROWTH 1 Galp Energia resource base Bln boe Level of resource base already allows to reach a target 4.1 production level of 150 kboepd on a reliable basis Existing quantified resource base equivalent to…
  5. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 5
    INTENSIVE EXPLORATION WORK UNTIL 2013 Total net exploration area 2 Km Almost 12,000 Km of 2 active net exploration area, out of a total area of 12,000 68,000 Km2 8,000 Galp Energias exploration works to be intensive in…
  6. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 6
    A VERY INTENSIVE DRILLING PROGRAM IN 2009 % Galp Drilling Campaign Drilling Campaign Block / Basin Operator Seismic Energia 2009 2008 Block 14 OFS Chevron 9% - - - 22 D 2E 1A Angola Block 32 OFS Total 5% - - 2A - - 3A Angola…
  7. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 7
    SETTING UP ANGOLAN ASSETS FOR PRODUCTION Projects pipeline Crude production 1 kboepd 26 Peak Block Projects Start-up production 2 22 18 Tmbua-Lndana 2009 120 140 16 15 Lucapa 2014 100 130 10 14 14 Malange 2014 20…
  8. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 8
    FIRST OIL FROM TUPI IN 2Q 2009 Extended well test Initiating production in 2Q 2009 Production expected to reach 14 kboepd, limited by gas handling constraints Project Tupi-1 already approved Galp Energia expected capex…
  9. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 9
    BRAZIL BECOMING THE KEY PRODUCING AREA Production volumes Tupi pilot project production will be kboepd the major contributor to production growth, from 2011 onwards 18 Onshore Brazilian production to ramp up in 2013 7…
  10. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 10
    MULTIPLY BY 10 EXISTING PRODUCTION IN 12 YEARS 1 Production volumes Production to benefit from kboepd continued growth in Angola with CAGR projects as Lucapa, Malange, Block 20% 150+ 32, etc Brazil ramp up boosting 80+…
  11. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 11
    BRAZIL CONTRIBUTION TO START E&P Capex E&P EBITDA CAGR 2008-13 Bln 1.9 Others Others 1.5 Angola Development 21% 17% Brazil Exploration 1 2008-12 2008-12 Type 2009-13Segment Usd 57/bbl 1 Usd 80/bbl 2 The…
  12. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 12
    REFINING & MARKETING
  13. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 13
    REFINING ASSETS TO TAKE ADVANTAGE OF HIGHER DIESEL DEMAND Europe product supply balance Upgrade projects economics 1 Execution of the conversion project 2008 2013 on time and on cost (1,189) Capex of 1.3 Bln Increase of…
  14. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 14
    TOWARDS A FULLY INTEGRATED R&M PORTFOLIO Sales to direct clients Integration of R&M activities very close to Refining target coverage % Target 100% Higher integration decreases volatility in To be achieved earnings of the…
  15. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 15
    IMPORTANT DEFENSIVE CASH FLOWS SET TO INCREASE 1 Marketing EBITDA vs Ref. margin AGIP & ESSO economics Unlock synergies and Refining margin economies of scale within logistic costs and products AGIP supply acquisition…
  16. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 16
    STRONG GROWTH FROM R&M SEGMENT R&M Capex R&M EBITDA CAGR 2008-13 Bln 2.8 2.2 Maintenance Marketing 11% 13% Refining Growth 1 2 2008-12 2008-12 Type 2009-13Segment Worst case scenario Base case Capex mainly…
  17. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 17
    GAS & POWER
  18. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 18
    INFRASTRUCTURE NG ASSETS ASSURES PREDICTABLE CASH FLOW Current RAB NG distribution of 1,016, NG distribution RAB & capex to increase with capex and inflation, with Mln 279 a ROR of 9% Current RAB NG underground storage of…
  19. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 19
    NG SUPPLY VOLUMES DRIVEN BY POWER PROJECTS EXECUTION Natural gas volumes Flexibility to lock higher returns between Bcm CAGR gas and power value chains 7.1 5% 5.6 Liberalized CCGT will allow to materialize value in…
  20. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 20
    EBITDA GROWTH MAINLY DRIVEN BY REGULATED CAPEX G&P Capex G&P EBITDA CAGR 2008-13 Bln 1.1 1.0 Non regulated Power 14% 10% Regulated Gas 2008-12 2008-12 Type 2009-13Segment 1 No liberalized Base2case NG margin…
  21. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 21
    SUMMARY
  22. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 22
    E&P WILL GRADUALLY ASSUME THE MAIN ROLE IN CAPEX R&M capex concentrated on conversion project execution, as AGIP and ESSO Capex networks were acquired in 2008, putting Bln the R&M closer to ideal fit in terms of complexity and…
  23. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 23
    GALP ENERGIAs PORTFOLIO OFFERS SUBSTANTIAL GROWTH Execution of Tmbua-Lndana EBITDA CAGR 2008-13 and Tupi pilot project responsible for more than double crude production CAGR 15% Refining upgrade project and CAGR 2007-12…
  24. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 24
    FINANCING AND LIQUIDITY
  25. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 25
    FUNDING NEEDS FOR 2009 SECURED Strong cash flow generation but not Operating cash flow and liquidity enough to cover capex programme needs Liquidity of 0.6 Bln, of which 0.8 Bln committed credit lines represent 65% 0.6 Bln…
  26. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 26
    SECURING FINANCING AFTER 2009 Galp Energia overview Commitment to a strong and a trustable capital structure Galp Energia Different options being studied to balance capital structure and to secure financing after 2009…
  27. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 27
    CONCLUSION
  28. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 28
    GALP ENERGIAS PORTFOLIO OFFERS SUPERIOR GROWTH EBITDA EBITDA growth growth above above 15% 15% supported supported by by all all business business segments segments Total resources Total resources of of 4.1 4.1…
  29. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 29
    APPENDIX
  30. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 30
    CURRENT ENVIRONMENT TO BENEFIT SIMPLE REFINING MARGINS 1 Spread Heavy /Light OPEC supply cut focus on heavy crude results in the lower spreads of heavy crude to light crude, thus 7.4 benefiting relative higher exposure 4.3 to…
  31. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 31
    INTEGRATED BIODIESEL PROJECT IS KEY Biodiesel economics Galp Energias integrated venture is positioned to match Portuguese Capex 2009-13 of 150 Mln in legislation for 2010, which biodiesel plant and feedstock projects mandates a…
  32. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 32
    NATURAL GAS SOURCING CONFERS COMPETITIVE ADVANTAGE Natural gas volumes Current sourcing base, with 60% of LNG Bcm CAGR increases flexibility to explore trading 5% 7.1 opportunities as LNG demand-supply 5.6 imbalance to expand in…
  33. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 33
    EXECUTING THE POWER PORTFOLIO Added capacity Special regime with a granted tariff period MW of 15 years, benefiting from priority access to the grid 2009 80 Sines cogen 1 Cogeneration tariff of 105.23 /MWh , 80 Porto cogen…
  34. MARCH 2009 STRATEGY UPDATE – Galp Energia – slide 34
    Investor Relations Tiago Villas-Boas Tel.: +351 21 724 08 66 Fax: +351 21 724 29 65 E-mail: tiagovbgalpenergia.com Website: www.galpenergia.com

From the store

Browse maps, data & reports in the Shale Experts store