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2010 OUTLOOK AND RESULTS – Total SA

Total SA · Feb 10, 2011 · 36 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. 2010 OUTLOOK AND RESULTS – Total SA – slide 1
    2010 results and outlook Investor Relations February 2011
  2. 2010 OUTLOOK AND RESULTS – Total SA – slide 2
    2010 : return to growth 4.3% increase in production, mainly from LNG growth 124% proved reserve replacement rate 32% increase in adjusted net income to 10.3 B, reflecting both improving environment and operational performance…
  3. 2010 OUTLOOK AND RESULTS – Total SA – slide 3
    New dynamic in the implementation of the strategy Developing Upstream portfolio and increasing non-strategic asset sales Bolder exploration strategy 25 B Canada and Australia emerging 20 20 as major production poles 15…
  4. 2010 OUTLOOK AND RESULTS – Total SA – slide 4
    Ongoing improvements for the safety, reliability and acceptability of our operations Workplace safety Priority to safety and industrial risk management Total Recordable Injury Rate (TRIR) per million man-hours worked** 16 15 14…
  5. 2010 OUTLOOK AND RESULTS – Total SA – slide 5
    Results Investor Relations www.total.com 3C3633
  6. 2010 OUTLOOK AND RESULTS – Total SA – slide 6
    Improved environment in 2010 Main market indicators /boe /t 2008 2009 2010 140 100 100 140 Increase in oil price reflecting strong 120 demand growth and anticipated supply constraints 100 100 80 50 50 Gas prices…
  7. 2010 OUTLOOK AND RESULTS – Total SA – slide 7
    Adjusted net income increased by 26% to 13.6 B Adjusted net operating income Segment ROACE : 17% in 2010 Positive contribution from all segments from segments : +33% increasing in all segments to adjusted net cash flow Upstream…
  8. 2010 OUTLOOK AND RESULTS – Total SA – slide 8
    Strong cash flow funding investments and dividends Cash flow allocation Cash flow from operations : 24.5 B, increase of 42% 30 B 26 B Change in net debt* Net investments : 15.9 B Dividends Gross investments : 20.5 B**, 80% in…
  9. 2010 OUTLOOK AND RESULTS – Total SA – slide 9
    Growth and optimization of asset portfolio Acquisitions and Deals announced in 2010 asset sales closed in 2008-10 Canada B 6000 Fort Hills Laggan Tormore Valhall / Hod 4000 4 Voyageur upgrader 2000 Acquisitions Joslyn Lindsey…
  10. 2010 OUTLOOK AND RESULTS – Total SA – slide 10
    Upstream performance reflects 4.3% production growth SEC Production Upstream results Technical costs* (in Mboe/d) (in /boe) (in /boe) 2.38 +20% +23% Shell 2 500,0 2.28 60 60,0 14 14,0 2424 Chevron LNG 12,0 22 2 000,0 50,0 10…
  11. 2010 OUTLOOK AND RESULTS – Total SA – slide 11
    Six major projects launched to strengthen production growth and profitability 2010 2011 Surmont Ph.2 Laggan Tormore CLOV Halfaya W Franklin Ph.2 GLNG (50%) (80%, op.) (40%, op.) (18.75%) (35.8%, op.) (27.5%) Capacity : 110 kb/d…
  12. 2010 OUTLOOK AND RESULTS – Total SA – slide 12
    Renewing exploration acreage Denmark (2 permits) New major prospects increasing United Kingdom exploration risked potential (6 permits) France Bboe (Montlimar) 4500 +33% 4000 4 JDZ Nigeria- Brunei 3500 Yemen (CA-1) Under Sao…
  13. 2010 OUTLOOK AND RESULTS – Total SA – slide 13
    2010 proved reserve replacement rate of 124% Proved reserves2 Proved and probable reserves3 (Bboe) 12 New Portfolio By region By technology contributions changes 1 100% Unconventional gas 11 10.5 10.7 0,9 Asia-CIS 90% LNG 10…
  14. 2010 OUTLOOK AND RESULTS – Total SA – slide 14
    Strong contribution from LNG projects Upstream LNG Changing scale of LNG portfolio in 2010 Europe Other North America Upstream LNG4 : +40% to 12.3 Mt Africa United Kingdom Downstream LNG5 : x3.5 to 8.2 Mt Continental Europe…
  15. 2010 OUTLOOK AND RESULTS – Total SA – slide 15
    Major changes in Downstream-Chemicals Refining Petrochemicals Closed refinery at Dunkirk Started up Ras Laffan Modernizing steam-cracker in Qatar Normandy refinery Partnership agreement Starting up Port Arthur coker for…
  16. 2010 OUTLOOK AND RESULTS – Total SA – slide 16
    European refining : reducing capacity and breakeven Decreasing breakeven Reducing European refining capacity by 20% over two years* Mb/d base 100 100 2.3 95 2.0 90 1.8 85 Dunkirk refinery Lindsey refinery closed for sale 80…
  17. 2010 OUTLOOK AND RESULTS – Total SA – slide 17
    Three structural developments in new energies Solar : complement the integration along the photovoltaic chain, Biomass : positioning in next reach critical mass and accelerate technical differentiation generation transformation…
  18. 2010 OUTLOOK AND RESULTS – Total SA – slide 18
    Favorable medium to long-term environment Oil Natural gas Refining (in Mb/d) European Asian gas Mb/d Bcf/d gas demand demand Additional Oil demand capacity 2010-20(e) : +1%/y 60 60 2010-15(e) 95 95 40 Mb/d Early 2010 6 7…
  19. 2010 OUTLOOK AND RESULTS – Total SA – slide 19
    Main objectives for 2011-2012 Priority to safety and acceptability of our operations Start up 10 large Upstream projects Launch 12 major Upstream projects Benefit from rejuvenated exploration portfolio Continue to adapt…
  20. 2010 OUTLOOK AND RESULTS – Total SA – slide 20
    Next wave of projects starting up mid-2011 SEC Production Main 2011-12(e) start-ups 2500 Mboe/d Trinidad Block 2C (30%) Usan (20%, op.) Angola LNG (13.6%) 2400 2.4 2300 2200 2.2 Capacity : 45 kboe/d Capacity : 180 kb/d…
  21. 2010 OUTLOOK AND RESULTS – Total SA – slide 21
    Increasing Upstream Capex to 16 B in 2011 to sustain growth Main investments 2011(e) Upstream Capex* 60% of Upstream investments (Group share) 18 B 16 Kashagan Ekofisk area Mahakam area 16 14.8 15 14 12 Laggan Tormore…
  22. 2010 OUTLOOK AND RESULTS – Total SA – slide 22
    12 major projects to launch in 2011-2012 Heavy Oil Conventional Deep offshore LNG Fort Hills (39.2%**) Reserves* : 3.4 Bb Ekofisk South (39.9%) Capacity : 160 kb/d Reserves* : 200 Mboe Start-up : 2016(e) Egina (24%, op.)…
  23. 2010 OUTLOOK AND RESULTS – Total SA – slide 23
    2011 exploration budget increased to 2.1 B Exploration expenses Main objectives for 2011 by geographic area 2006 Norway UK Azerbaijan Libya 1.5 B French Vietnam Guyana Brunei 2011(e) Yemen Indonesia Nigeria Bolivia…
  24. 2010 OUTLOOK AND RESULTS – Total SA – slide 24
    Canada : strategic partnership strengthens portfolio Technical production of Total in Canada Exploration blocks Before Suncor partnership kb/d Northern Lights Fort Hills (39.2%)* (50%, op., under study) 200 200 Reserves** : 3.4…
  25. 2010 OUTLOOK AND RESULTS – Total SA – slide 25
    Australia : development of a new major production pole Ichthys (24%) GLNG (27.5%) Vulcan Bonaparte Browse Darwin Ichthys pipeline Darwin 8.4 Mt/y of LNG, 7.2 Mt/y of LNG Ichthys 100 kb/d of condensates, Plateau : 40 kboe/d…
  26. 2010 OUTLOOK AND RESULTS – Total SA – slide 26
    West Africa : numerous projects in high-potential basins Pazflor Usan CLOV Egina Moho North Block 32 40% - operator 20% - operator 40% - operator 24% - operator 53.5% - operator 30% - operator Capacity : 220 kb/d Capacity : 180…
  27. 2010 OUTLOOK AND RESULTS – Total SA – slide 27
    North Sea : continuing to create value in mature area Total : a major player in the North Sea (SEC production : United Kingdom, Norway and Netherlands*) kboe/d 1,000 1 000 Laggan Tormore 800 Snhvit Alwyn 600600 Total…
  28. 2010 OUTLOOK AND RESULTS – Total SA – slide 28
    Diversified portfolio of major Upstream projects Projects Countries Capacity (kboe/d) Share Op* Status 2018(e) NLNG T7 Nigeria LNG 250 15% FEED Brass LNG Nigeria LNG 300 17% FEED Production6 Joslyn North Mine Canada Heavy oil 100…
  29. 2010 OUTLOOK AND RESULTS – Total SA – slide 29
    Downstream-Chemicals : strengthening competitiveness Downstream-Chemicals net cash flow and ROACE Adjusted net cash flow in B ROACE in % Priority to safety and improving reliability of operations B 13% 3 3000 Reducing capacity…
  30. 2010 OUTLOOK AND RESULTS – Total SA – slide 30
    Marketing : profitable and constantly adapting Pursuing worldwide growth Europe : maintain expertise in specialties and focus on critical mass Direct presence in 110 countries TotalErg China and Korea : 2nd and 3rd Selling UK…
  31. 2010 OUTLOOK AND RESULTS – Total SA – slide 31
    Growing innovative chemical activities based on sustainable development Bio-polymers Methanol-to-Olefin Green Chemicals The TOTAL Ecosolutions Label, 2010 best innovation* Polylactic Acid (PLA) : High-yield polymer production…
  32. 2010 OUTLOOK AND RESULTS – Total SA – slide 32
    2011 Capex budget of 20 B Capex by business segment Net acquisitions / asset sales to finalize Dedicating approx. 80% of Capex 21 B 20 B* to Upstream allocated as : 0.8 35% for producing assets 18 B 3.1 1 Chemicals 40% for…
  33. 2010 OUTLOOK AND RESULTS – Total SA – slide 33
    Increased financial flexibility in oil price environment above 80 /b Net-debt-to-equity ratio 2011(e) cash flow sensitivity (Brent 80 /b ; ERMI 30 /t; 1 = 1.30) % 35 33 +10 /b Brent 31 30 29 27 +10 /t ERMI 25 25 23 21 20…
  34. 2010 OUTLOOK AND RESULTS – Total SA – slide 34
    Priority to safety, reliability and social responsibility Profound changes in each segment to unlock value Growth and visibility improved by large number of projects in development and in preparation Consistency of capital…
  35. 2010 OUTLOOK AND RESULTS – Total SA – slide 35
    2010 Results 4Q10 4Q09 % 2010 2009 % Average liquids price (/b) 83.7 70.6 +19 76.3 58.1 +31 Average gas price (/Mbtu) 5.62 5.07 +11 5.15 5.17 - Average hydrocarbon price (/boe) 61.9 54.4 +14 56.7 47.1 +20 Refining margin indicator…
  36. 2010 OUTLOOK AND RESULTS – Total SA – slide 36
    Definitions 1. ERMI : Totals European Refining Margin Indicator published quarterly by the Group ; this indicator margin may not be representative of the actual margins achieved by Total in any period because of Totals particular…

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