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2014 YEAR END ANALYST MEETING – PTTEP

PTTEP · Feb 18, 2015 · 33 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. 2014 YEAR END ANALYST MEETING – PTTEP – slide 1
    PTT Exploration and Production Public Company Limited 2014 Year-end Analyst Meeting Bangkok 18 February 2015
  2. 2014 YEAR END ANALYST MEETING – PTTEP – slide 2
    Agenda 2014 Highlights - SD - Industry - Key accomplishment - Financial performance Outlook 2 / 23
  3. 2014 YEAR END ANALYST MEETING – PTTEP – slide 3
    SSHE & SD Became a listed member in DJSI and maintaining strong safety culture 2014 DJSI Listed Company Dow Jones Sustainability World Index Oil & Gas Sector Above Industry Average Safety Record of incidents per million man…
  4. 2014 YEAR END ANALYST MEETING – PTTEP – slide 4
    Agenda 2014 Highlights - SD - Industry - Key accomplishment - Financial performance Outlook 4 / 23
  5. 2014 YEAR END ANALYST MEETING – PTTEP – slide 5
    Oil Price Sharp drop due to concerns of oversupply Brent Dubai Min-Max Brent 2014 Highlights Analyst Consensus* US / Barrel 120 Increased US shale-oil production 2015 consensus 110 1H Brent 57.83 US/BBL OPEC maintains production…
  6. 2014 YEAR END ANALYST MEETING – PTTEP – slide 6
    Industry Costs Cost adjustment is foreseeable; with some delay and at a smaller magnitude vs Brent Annual Upstream Capital and Operating Cost Index vs. Brent (2004 2014) INDEX UCCI UOCI Brent /BBL 250 150 (100 Base year 2000) 200…
  7. 2014 YEAR END ANALYST MEETING – PTTEP – slide 7
    2014 M&A Recap Activity focused in North American unconventional E&P assets 150 201 1.5 201 2 201 2.5 201 3 201 3.5 155 201 4 201 4.5 127 1 80 1 60 97 US Billion 1 40 100 1 20 1 00 80 50 60…
  8. 2014 YEAR END ANALYST MEETING – PTTEP – slide 8
    Thai Economy, Gas Demand, Reforms Gas demand continues to grow; progress is being made with the reform agenda Thai Economy and Gas Demand Upstream Energy Reform 21st Bidding Round Bid round is in progress. 1.25 GDP Growth (%) 8.0%…
  9. 2014 YEAR END ANALYST MEETING – PTTEP – slide 9
    Agenda 2014 Highlights - SD - Industry - Key accomplishment - Financial performance Outlook 9 / 23
  10. 2014 YEAR END ANALYST MEETING – PTTEP – slide 10
    2014 Key Accomplishments Delivered growth from robust operations and strategic fine-tuning Strong production base from high-margin assets : 10% Growth Maintain domestic production to support energy demand Successfully commenced gas…
  11. 2014 YEAR END ANALYST MEETING – PTTEP – slide 11
    Reserves and Resources Target resource turnaround in the near future Reserves / 2014 by Geography MMBOE Resource Life* Domestic International 6,000 4,864 5,000 4,864 37 Years 4,406 75% 3,986 4,000 1,276 777 3,000 2,200 2,700…
  12. 2014 YEAR END ANALYST MEETING – PTTEP – slide 12
    Agenda 2014 Highlights - SD - Industry - Key achievement - Financial performance Outlook 12 / 23
  13. 2014 YEAR END ANALYST MEETING – PTTEP – slide 13
    Sales Volume & Unit Costs Gas-weighted portfolio and healthy cash margin to weather low oil prices RoW Sales Volume and Price Unit Cost Other SEA Cash Cost Unit Cost TH /BOE BOED 292,629 321,886 50 275,923 26,539 43.60 C 300,000…
  14. 2014 YEAR END ANALYST MEETING – PTTEP – slide 14
    Net Income & Impairments 2014 Net Income lowered by write down of asset values Net Income Factors affecting Impairment (per international accounting standard, IAS36) MMUSD Product Price 2,000 1,846 1,846 Development schedule 1,674…
  15. 2014 YEAR END ANALYST MEETING – PTTEP – slide 15
    Cash Flow Performance Robust liquidity to fund CAPEX and debt service Cash Flow Performance Source & Use of Funds in 2014 MMUSD KBOED MMUSD Sales Volume 7,000 7,000 400 6,319 6,000 6,000 5,000 5,000 4,740 4,330 300 4,000 3,470…
  16. 2014 YEAR END ANALYST MEETING – PTTEP – slide 16
    Financial Position Strong balance sheet with low gearing MMUSD Capital Structure D/E Ratio 25,000 23,290 1.00 21,572 20,000 19,637 6,513 0.80 5,830 5,153 15,000 4,023 4,229 0.60 3,773 10,000 0.35 0.34 0.40 0.34 5,000 0.20…
  17. 2014 YEAR END ANALYST MEETING – PTTEP – slide 17
    Dividends Dividend Payment History ( Policy : No Less Than 30% of Net Income) 1H 2H THB per share 5.80 6.00 6.00 5.40 5.03 4.50* 3.00 3.00 4.00 2.48 2.79 1.50 2.00 2.55 2.61 2.80 3.00 3.00 0.00 2010 2011 2012 2013 2014…
  18. 2014 YEAR END ANALYST MEETING – PTTEP – slide 18
    A glimpse of 2015 liquidity Strong cash margin from resilient gas price coupled with competitive cash cost Resilient gas price Protected cash margin Unit : USD / BOE Avg. Dubai Assumption % Change in 2015 Dubai Price 97 55 2015 63…
  19. 2014 YEAR END ANALYST MEETING – PTTEP – slide 19
    Agenda 2014 Highlights - SD - Industry - Key accomplishment - Financial performance Outlook 19 / 23
  20. 2014 YEAR END ANALYST MEETING – PTTEP – slide 20
    2015 Priorities Adaptive to industry fundamental change Implication Priorities in changing industry environment Deliver 6% volume growth as planned Short term Focus on cost optimization and investment prioritization Leverage strong…
  21. 2014 YEAR END ANALYST MEETING – PTTEP – slide 21
    Target 6% sales volume growth Thailand and Southeast Asia continue to be the strong production base 2015 Sales Volume Guidance Growth to be driven by Unit : KBOED 343 322 Rest of World 300 Zawtika delivers full year production…
  22. 2014 YEAR END ANALYST MEETING – PTTEP – slide 22
    SAVE to be SAFE Four levers to manage our capital efficiency 1 2 Efficiency Cost Optimization Production Stabilization Productivity Integrated activity planning Minimize unplanned Contract renegotiation and Operational Excellence…
  23. 2014 YEAR END ANALYST MEETING – PTTEP – slide 23
    Key Takeaway Fundamental change in E&P industry U.S. shale output re-shaping balance and dynamics of the oil market Expect market forces to rebalance but the path to price recovery is still uncertain The uncertainty also presents…
  24. 2014 YEAR END ANALYST MEETING – PTTEP – slide 24
    Thank You and Q&A Exploring new horizons, we take every step as learning For more information, please visit our website at http://www.pttep.com OR Contact us via email address at IRpttep.com OR Call us at +66 2 537 4000
  25. 2014 YEAR END ANALYST MEETING – PTTEP – slide 25
    Supplementary Index 1] 5 Year Investment Plan 2] 2015 Exploration Plan 3] Organization Structure 4] Project Details 5] Ratios & Formula
  26. 2014 YEAR END ANALYST MEETING – PTTEP – slide 26
    Sales Volume Profile Stable volume from high value contributors in Thailand and Other SEA Unit : KBOED 6 %Growth YoY 343 342 337 334 350 322 322 Rest of World 300 Other SEA 250 200 150 Thailand & 100 MTJDA 50 0 2014 2015 2016…
  27. 2014 YEAR END ANALYST MEETING – PTTEP – slide 27
    5-Year CAPEX Plan 80% allocated to core operations in Southeast Asia Capex by Region 2015 - 2019 Thailand 9.3 bn USD Southeast Asia 3.3 bn USD Others 3.3 bn USD Unit : MMUSD TOTAL 15.9 bn USD 3,938 3,833 4,000 1,198 3,437 3,109…
  28. 2014 YEAR END ANALYST MEETING – PTTEP – slide 28
    2015 Exploration Program Focused on Key Growth Hub Expenditure Summary Key theme in Thailand and Myanmar Unit : MMUSD 654 Seismic & 103 Americas Thailand Others 17% Thailand S1 ME & 27% Active exploration and Africa Drilling 551…
  29. 2014 YEAR END ANALYST MEETING – PTTEP – slide 29
    Organizational Structure Ensuring Transparency, Integrity, and Good Corporate Governance practices Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management…
  30. 2014 YEAR END ANALYST MEETING – PTTEP – slide 30
    Project Information 1/4 Production Phase: Thailand and JDA Project PTTEPs Partners 2014 Average Sales Volume * 2015 Key Activities Share (as of 2014) Gas Oil and Other Production Phase Thailand and JDA 1 Arthit 80% Chevron 16% 218…
  31. 2014 YEAR END ANALYST MEETING – PTTEP – slide 31
    Project Information 2/4 Production Phase: Overseas Project PTTEPs Partners 2014 Average Sales Volume * 2015 Key Activities Share (as of 2014) Gas Oil and Other Production Phase Overseas 15 Oman 44 100% 27 MMSCFD Condensate: Drill…
  32. 2014 YEAR END ANALYST MEETING – PTTEP – slide 32
    Project Information 3/4 Development & Exploration Phase Project PTTEPs Partners 2015 Key Activities Share (as of 2014) Development Phase : Thailand and JDA 23 L22/43 100% Drill Exploration / Appraisal / Development wells Overseas…
  33. 2014 YEAR END ANALYST MEETING – PTTEP – slide 33
    Project Information 4/4 Exploration Phase Project PTTEPs Partners 2015 Key Activities Share (as of 2014) Exploration Phase (cont) Overseas (cont) 32 Indonesia South 34% Talisman 33% G&G studies Mandar* TOTAL 33% 33 Indonesia…

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