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2011 RESULTS AND OUTLOOK – Total SA

Total SA · Feb 10, 2012 · 42 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. 2011 RESULTS AND OUTLOOK – Total SA – slide 1
    2011 Results and outlook February 2012 2011 Results and outlook February 2012 1
  2. 2011 RESULTS AND OUTLOOK – Total SA – slide 2
    Key figures for 2011 15 % improvement in safety (TRIR) 2.35 Mboe/d production 3 giant discoveries 185 % proved reserve replacement rate +17 % adjusted net income to 16 B 22 B net investment Implementing the new dynamic…
  3. 2011 RESULTS AND OUTLOOK – Total SA – slide 3
    Four drivers to deliver upside Unlocking value Operational excellence Growing contributions of LNG Skilled workforce managing and deep offshore high-quality operations Revitalized Exploration Project management expertise…
  4. 2011 RESULTS AND OUTLOOK – Total SA – slide 4
    Strong structural support for high oil prices Brent price Oil Mb/d 111 /b Oil demand 2010-20 +1% per year 95 79.5 /b 62 /b 40 Mb/d 50 Spare Natural decline of fields capacity 6% 5% 3% Change in -1.2 Mb/d +2.4 Mb/d +0.6…
  5. 2011 RESULTS AND OUTLOOK – Total SA – slide 5
    Increasing worldwide demand for gas and LNG GAS LNG DEMAND +2.5% per year 2010-20 DEMAND +5% per year 2010-20 Gas supply / demand LNG supply / demand Bcf/d Mt/y LNG demand North America Europe Asia +1.5% +1.8% +6.2% 100 Mt/y…
  6. 2011 RESULTS AND OUTLOOK – Total SA – slide 6
    2011 PERFORMANCE 2011 Results and outlook February 2012 6
  7. 2011 RESULTS AND OUTLOOK – Total SA – slide 7
    Strong 2011 performance driven by Upstream Adjusted net income 20% ROACE Upstream 16 B +17% Stable 2011 production 14 B Captured rising oil prices +26% 11 B 7% ROACE Downstream Challenging market conditions Improving…
  8. 2011 RESULTS AND OUTLOOK – Total SA – slide 8
    Repositioning through portfolio management 2010-11 finalized transactions 2010-11 asset sales as % of capital employed* 20 Acquisitions Asset sales 15% Downstream Upstream 10 New energies 17 B 15 B Chemicals Other XOM RDS…
  9. 2011 RESULTS AND OUTLOOK – Total SA – slide 9
    Increasing cash flow supports strong investment and dividend policy Cash flow allocation 28 B Net 24 B acquisitions / asset sales 19 B Change Dividend in net debt* 50% increase in adjusted cash Net acquisitions flow from…
  10. 2011 RESULTS AND OUTLOOK – Total SA – slide 10
    2012 net cash flow sensitivity Brent is the main environmental +10 /b Brent driver for results Very low exposure to Henry Hub gas price +1% production +10 /t ERMI Positive effect on net result and +0.1 / dollar cash flows…
  11. 2011 RESULTS AND OUTLOOK – Total SA – slide 11
    UPSTREAM 2011 Results and outlook February 2012 11
  12. 2011 RESULTS AND OUTLOOK – Total SA – slide 12
    Upstream safety results among the best in class TRIR (Total Recordable Injury Rate) per million man-hours worked 3 2 -54% since 2006 1 1.3 2006 2007 2008 2009 2010 2011 3 task forces focused on Managing industrial…
  13. 2011 RESULTS AND OUTLOOK – Total SA – slide 13
    2011 Upstream performance Production Cash flow generation Mboe/d /boe 80 80,0 30 Start-ups +32% +32% 70,0 2.38 2.35 60,0 Decline 20 Price Portfolio Libya 50,0 effect changes 40 40,0 30,0 10 20,0 10,0 0,0…
  14. 2011 RESULTS AND OUTLOOK – Total SA – slide 14
    2011 reserve replacement rate of 185% Proved reserves Proved reserve replacement rate Bboe at year end % 200 200 185% New Portfolio 180 contributions changes 11.4 160 10.7 Price effect 140 Production 120 100 100…
  15. 2011 RESULTS AND OUTLOOK – Total SA – slide 15
    Diversified portfolio of resources 2011 Resources By region By technology 1 100% Unconventional gas 0,9 90% Asia-CIS LNG 3.6 Bboe of additional resources in 2011 0,8 80% through exploration and acquisitions 0,7 Middle East…
  16. 2011 RESULTS AND OUTLOOK – Total SA – slide 16
    Improving visibility for production growth Major projects launched Major projects to launch 2011 2012 GLNG (27.5%) Termokarstovoye (49%) Ofon 2 (40%) Shtokman (25%) Ekofisk/Eldfisk (39.9%) Ichthys (24%) Tempa Rossa (75%) Egina…
  17. 2011 RESULTS AND OUTLOOK – Total SA – slide 17
    First results of revitalized exploration strategy 3 giant discoveries Increased exploration potential Risked Bboe Other discoveries 5 Bboe New acreage Azerbaijan +59% (Absheron, ABX-2) Norvarg Norway Alve North 2008 2009…
  18. 2011 RESULTS AND OUTLOOK – Total SA – slide 18
    Ambitious exploration program for 2012-13 Elephant & big cat prospects Number of exploration wells Conventional UK Norway Azerbaijan Frontier 60 30 2011 2012 2013 Egypt Libya GoM Algeria Mauritania Nigeria Qatar Malaysia…
  19. 2011 RESULTS AND OUTLOOK – Total SA – slide 19
    Strong production growth by 2015 Production growth Brent price 100 /b +2.5% CAGR 2.38 Mboe/d 600 More than 25 start-ups adding kboe/d 600 kboe/d of new production 2 95% already producing or under development 1.5 Strong…
  20. 2011 RESULTS AND OUTLOOK – Total SA – slide 20
    2015 production growth fueled by more than 25 project start-ups 2013-15 2015 production from new start-ups 2012 2011 Laggan Tormore Islay Ekofisk Kashagan Termokarstovoye Sulige 600 kboe/d Other 2013-15 start-ups West Franklin…
  21. 2011 RESULTS AND OUTLOOK – Total SA – slide 21
    Accretive contribution of 2011-15 start-ups Production Operating cash flow Operating cash flow per barrel kboe/d B /boe 2011-15 start-ups 50 600 10 Upstream 6 25 300 2 2011 2012 2015 2011 2011 2012 2012 2015…
  22. 2011 RESULTS AND OUTLOOK – Total SA – slide 22
    Key contribution of LNG to value creation Upstream LNG* volumes: +50% 20% of 2011 production 2009-2011 27% of Upstream results By origin LNG portfolio adjusted net operating income 8.8 Mt 13.2 Mt 3.9 B Middle East Africa 2009…
  23. 2011 RESULTS AND OUTLOOK – Total SA – slide 23
    Three LNG projects under development Ichthys (24%) Strong economics supported by liquids contribution LNG sold on long-term contracts indexed to oil price Start-up end-2016 Capacity 8.4 Mt/y of LNG, 1.6 Mt/y of LPG 100 kb/d of…
  24. 2011 RESULTS AND OUTLOOK – Total SA – slide 24
    Industry leader in deep offshore Exploration 10% of 2011 production Laggan / 20% of Upstream results Planned FID / Under development Tormore Producing Deep offshore production kboe/d 600 400 200 2010 2015 2020 Tahiti…
  25. 2011 RESULTS AND OUTLOOK – Total SA – slide 25
    2012 Upstream investments Organic Upstream investments* 2012 main investments on sanctioned projects 350 M per project Group share 20 B 20 GLNG Surmont Ekofisk area 17 B Post-2015 start-ups 10 2012-2015 Kashagan CLOV Anguille…
  26. 2011 RESULTS AND OUTLOOK – Total SA – slide 26
    DOWNSTREAM REFINING-CHEMICALS SUPPLY-MARKETING 2011 Results and outlook February 2012 26
  27. 2011 RESULTS AND OUTLOOK – Total SA – slide 27
    On track to deliver stronger performance Adjusted cash flow Refining of Downstream and Chemicals B Reached 550 kb/d capacity reduction in Europe -18% breakeven* 3 Chemicals +0.5 B 2 Growing contribution from activities in…
  28. 2011 RESULTS AND OUTLOOK – Total SA – slide 28
    Restructuring Downstream Industrial Commercial Refining-Chemicals Supply-Marketing Refining and base chemicals, Retail network plus wholesale polymers, specialty chemicals, for fuels, lubricants, LPG, Trading bitumen, aviation,…
  29. 2011 RESULTS AND OUTLOOK – Total SA – slide 29
    Refining-Chemicals becoming a more competitive, integrated industrial segment Including Including 2010 Specialty 2011 Specialty B Chemicals Chemicals Adjusted net operating income* 1.0 0.5 0.8 0.4 Capital employed* 17 2.8 15.5…
  30. 2011 RESULTS AND OUTLOOK – Total SA – slide 30
    Focusing on major integrated platforms Refinery Refining-Chemicals investment B Refinery + petrochemical complex 3 Petrochemical plant Other Major integrated 1 platforms 2011 2012 budget Dalian, La Porte, Texas China…
  31. 2011 RESULTS AND OUTLOOK – Total SA – slide 31
    Supply-Marketing, global positions and successful track record B 2010 2011 Adjusted net operating income* 1.0 1.0 Capital employed* 6 6 Adapt positions in Europe to remain competitive Capitalize on leadership in Africa and…
  32. 2011 RESULTS AND OUTLOOK – Total SA – slide 32
    Downstream: 3 drivers to deliver 5% increase in profitability ROACE for Refining-Chemicals and Supply-Marketing Efficiencies / Synergies 14% Portfolio Major Refining - +2.0% changes Petrochemicals projects +1.5% 9% +1.5%…
  33. 2011 RESULTS AND OUTLOOK – Total SA – slide 33
    OUTLOOK 2011 Results and outlook February 2012 33
  34. 2011 RESULTS AND OUTLOOK – Total SA – slide 34
    CSR embedded in our strategy Ethics and human rights Minimizing Creating value at the forefront environmental impact with local communities Ethics committee reporting Limiting green house gas Working together directly to CEO…
  35. 2011 RESULTS AND OUTLOOK – Total SA – slide 35
    20 B budget for 2012 net investments 2012 net investments Net acquisitions / 24 B asset sales 22 B Supply-Marketing 1 3 4 Refining-Chemicals 20 B 80% of investments dedicated to Upstream Integrating asset sales Upstream 20…
  36. 2011 RESULTS AND OUTLOOK – Total SA – slide 36
    Ample cash flow to fund growing net investments and dividend Cash flow and net investments* B 35 30 80 /b Robust cash flow generation 25 enhanced by project start-ups 20 15 23 B average net investments 10 for 2012-14…
  37. 2011 RESULTS AND OUTLOOK – Total SA – slide 37
    Strong balance sheet and return to shareholders Net-debt-to-equity Adjusted net income and dividend B B 12 80 10 Net debt Adjusted net income 8 60 6 40 Equity 4 Dividend 20 2 0 0 Gearing 27% 22% 23% Payout 66% 50% 45%…
  38. 2011 RESULTS AND OUTLOOK – Total SA – slide 38
    Implementing the new dynamic Priority to operate safely and responsibly More ambitious exploration program Production to grow by 2.5% on average Increasing cash flow with accretive start-ups Downstream restructuring to…
  39. 2011 RESULTS AND OUTLOOK – Total SA – slide 39
    APPENDIX 2011 Results and outlook February 2012 39
  40. 2011 RESULTS AND OUTLOOK – Total SA – slide 40
    Diversified portfolio of major Upstream projects Projects Countries Capacity (kboe/d) Share Op* Status Deep offshore 2018 IMA (OML 112) Nigeria Gas 60 40% P Study kboe/d Brass LNG Nigeria LNG 300 17% FEED Joslyn North Mine Canada…
  41. 2011 RESULTS AND OUTLOOK – Total SA – slide 41
    Six major platforms for profitable growth Daesan, South Korea Port Arthur, U.S. Large complex producing a wide range Coker project completed of base chemicals and polyolefins One of the worlds largest liquids Major expansion project…
  42. 2011 RESULTS AND OUTLOOK – Total SA – slide 42
    2011 Results 4Q11 4Q10 % 2011 2010 % Average liquids price (/b) 104.3 83.7 +25 105.0 76.3 +38 Average gas price (/Mbtu) 6.79 5.62 +21 6.53 5.15 +27 Average hydrocarbon price (/boe) 75.9 61.9 +23 74.9 56.7 +32 Refining margin…

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