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2007 RESULTS AND OUTLOOK – Total SA

Total SA · Feb 10, 2008 · 45 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. 2007 RESULTS AND OUTLOOK – Total SA – slide 1
    2007 results and outlook Investor Relations February 2008
  2. 2007 RESULTS AND OUTLOOK – Total SA – slide 2
    Performance among the best of the majors Production % 4Q07 vs 4Q06 Production growth : +1.5% to 2.39 Mboe/d 3Q07 vs 3Q06 4 +4.5% underlying growth* 2Q07 vs 2Q06 1Q07 vs 1Q06 2 Adjusted net income : +6% to record 16.7 B XOM CVX RDS…
  3. 2007 RESULTS AND OUTLOOK – Total SA – slide 3
    Successful growth strategy Jura HDS Lindsey HDS Leuna Sale of Milford Haven Main achievements Shtokman Phase I since start of 2007 Sale of 10% of Joslyn CO2 capture pilot project 1 Bboe added through exploration Arzew ethane…
  4. 2007 RESULTS AND OUTLOOK – Total SA – slide 4
    Major axes of value creation for the long term Hydrocarbon production Priority to safety and preservation of the environment Mboe/d +4% per year 3.5 on average for 2006-2010(e)* 60/b Sustain long-term production growth 80/b 2.5…
  5. 2007 RESULTS AND OUTLOOK – Total SA – slide 5
    Results Investor Relations
  6. 2007 RESULTS AND OUTLOOK – Total SA – slide 6
    2007 adjusted EPS : +8% expressed in dollars 4Q07 4Q06 % 2007 2006 % Environment Average hydrocarbon price (/boe) 65.7 49.6 +32% 55.2 51.9 +6% Refining margin indicator TRCV (/t) 30.1 22.8 +32% 32.5 28.9 +12% Average exchange rate -…
  7. 2007 RESULTS AND OUTLOOK – Total SA – slide 7
    Improved performance thanks to growth Adjusted net operating income from segments (B) +0.95 (0.50) +1.20 16.8 15.5 (0.35) Chemicals Environment Costs Exploration Growth and Downstream productivity Upstream +1.1 Including new…
  8. 2007 RESULTS AND OUTLOOK – Total SA – slide 8
    High quality portfolio generating solid results Upstream net operating income* () Chevron Total EPS* () 160 ExxonMobil RD Shell ExxonMobil 130 BP 160 Total RD Shell Chevron base 100 130 2004 2005 2006 2007 BP base 100 2004…
  9. 2007 RESULTS AND OUTLOOK – Total SA – slide 9
    Substantial investment program and disciplined capital management Investment program Profitability (Capex / Capital Employed) (ROACE*) % % Total 25 40 ExxonMobil Chevron 20 30 RD Shell Total BP ExxonMobil Chevron 15 20…
  10. 2007 RESULTS AND OUTLOOK – Total SA – slide 10
    2007 adjusted cash flow : +12% to 24 B Cash flow allocation (B) Net-debt-to-equity ratio % Change in working capital and net debt Share buybacks 40 -53% Divestments 35 Dividends +20% 30 Adjusted cash flow* 25 Investments…
  11. 2007 RESULTS AND OUTLOOK – Total SA – slide 11
    2007 dividend : +11% to 2.07 per share Pay-out ratio Dividend (based on dollars) (based on /share) 50% 180 BP Total () Total +21% per year BP 40% Total () on average Chevron RD Shell 140 ExxonMobil 30% RD Shell…
  12. 2007 RESULTS AND OUTLOOK – Total SA – slide 12
    Upstream Investor Relations - www.total.com - 3C2041
  13. 2007 RESULTS AND OUTLOOK – Total SA – slide 13
    Upstream strategy based on operational excellence Dalia (40%) Rosa (40%) Dolphin (24.5%) Ability to manage major growth projects Plateau : 240 kb/d Plateau : 150 kb/d Plateau : 500 kboe/d Technological expertise : deep offshore,…
  14. 2007 RESULTS AND OUTLOOK – Total SA – slide 14
    Success of profitable growth strategy in 2007 Upstream adjusted net operating income Upstream adjusted net operating income (B) of the majors (/boe)* +0.85 (0.35) (0.4) 12.1 Total +1.1 Equity 10.9 affiliates RD Shell…
  15. 2007 RESULTS AND OUTLOOK – Total SA – slide 15
    Large contribution from new production 2007 production : +1.5% Impact on income* : +7.5% Mboe/d Underlying growth : +4.5% % Income New impact* production 2.39 9 2.36 -3% +1.10 B 6 2.3 Production growth Portfolio changes…
  16. 2007 RESULTS AND OUTLOOK – Total SA – slide 16
    Upstream leveraged to environment Upstream results* vs hydrocarbon prices Sensitivity to oil price Results* by type of contract (2003-2007) (for a change of 1 /b of Brent) Impact on results* /boe in M /boe 200 20 Results vs…
  17. 2007 RESULTS AND OUTLOOK – Total SA – slide 17
    Totals competitive advantage on technical costs Technical costs* vs. Brent Technical costs* /boe /boe 70 +0.5 12.4 Brent +0.3 +0.3 +1.0 Explo Explo +0.4 Maintenance DD&A for 9.9 new projects 50 Inflation FX and and other…
  18. 2007 RESULTS AND OUTLOOK – Total SA – slide 18
    1 billion boe added from exploration in 2007 Rapid confirmation of projects Numerous exploration successes in 2007 discovered through exploration Bboe* 5 Block 32 2007 Block 14 Appraisal 4 Egina 2006 Moho North 3 MTPS…
  19. 2007 RESULTS AND OUTLOOK – Total SA – slide 19
    Strong positions on majority of growth basins Proved and probable reserves* : 20 Bboe Canada Norway Increasing portfolio diversification United Kingdom Kazakhstan 13 countries with more than 500 Mboe of proved and probable…
  20. 2007 RESULTS AND OUTLOOK – Total SA – slide 20
    2007 reserve replacement Proved reserves* Reserves and resources (at December 31, 2007) Bboe New Bboe additions Reserve Production replacement Resources*** 12 Price rate 40 60 /b effect 102% 78% Business Exploration…
  21. 2007 RESULTS AND OUTLOOK – Total SA – slide 21
    Outlook for sustained production growth over the long term Capacity Projects (kboe/d) Share Op** Status Hydrocarbon production 2012- Victoria Liq/Gas Study 40% 3 Apprec 2015(e) Shtokman Ph. I LNG/pipe Study 25% Study Share of…
  22. 2007 RESULTS AND OUTLOOK – Total SA – slide 22
    80% of new production through 2010 operated by Total Tahiti (17%) Tombua Landana (20%) Ofon II (40%) Qatargas II TB (16.7%) Akpo (24%) Plateau : 135 kboe/d Plateau : 130 kboe/d Plateau : 100 kboe/d Plateau : 250 kboe/d Start-up…
  23. 2007 RESULTS AND OUTLOOK – Total SA – slide 23
    Diversified human resource base adapted to long-term growth target 80% of new hires into managerial positions going Exploration & Production subsidiaries into geoscience and operations : (2007 data) 3,000 new hires between 2007 and…
  24. 2007 RESULTS AND OUTLOOK – Total SA – slide 24
    Upstream - LNG and New Energies Investor Relations - www.total.com - 3C2041
  25. 2007 RESULTS AND OUTLOOK – Total SA – slide 25
    Diversified and well-positioned portfolio of LNG assets Main LNG LNG producing consuming markets countries in 2015(e) LNG production by origin in 2015(e) base 100 Asia Middle 50 East Atlantic Basin Worldwide Totals…
  26. 2007 RESULTS AND OUTLOOK – Total SA – slide 26
    Significant potential for value creation in LNG Middle East netback on LNG contracts* Profitability of Totals LNG portfolio /mbtu B Atlantic Asian Average Basin market non-producing capital 6 employed 14 80 /b 10 4 60 /b…
  27. 2007 RESULTS AND OUTLOOK – Total SA – slide 27
    Changing scale of Totals LNG portfolio Yemen LNG (39.6%) Qatargas II TrB (16.7%) Angola LNG (13.6%) NLNG T7 (15%) Ichthys LNG (24%) Brass LNG (17%) Shtokman (25%) Capacity: 6.7 Mt/y Capacity : 7.8 Mt/y Capacity : 5.2 Mt/y Capacity :…
  28. 2007 RESULTS AND OUTLOOK – Total SA – slide 28
    Progressively expanding Totals energy offerings Carbon-free energies Growing new energies business in context (Global production) Mboe/d of high hydrocarbon prices Solar, wind... Complementary to hydrocarbon value chain…
  29. 2007 RESULTS AND OUTLOOK – Total SA – slide 29
    Downstream Investor Relations Investor Relations - www.total.com - 3C2041
  30. 2007 RESULTS AND OUTLOOK – Total SA – slide 30
    Downstream performance robust in mixed environment Adjusted net operating income (B) European conversion margins 3.5 (0.05) (0.1) +0.3 3.5 (0.15) Gasoline 150 conversion Brent Environment Inflation Maintenance Growth and margin*…
  31. 2007 RESULTS AND OUTLOOK – Total SA – slide 31
    Self-help supporting strong Downstream profitability Downstream profitability* Cumulative net impact of self-help plans** % B ExxonMobil 30 1.0 New refining projects Total 20 0.5 RD Shell Productivity 10 Chevron BP 2003…
  32. 2007 RESULTS AND OUTLOOK – Total SA – slide 32
    Targeted investments to adapt European refining to market changes DHC Normandy HDS Lindsey HDS Leuna DHC Huelva (Cepsa) Capacity : 2.4 Mt/y Capacity : 1.8 Mt/y Capacity : 1 Mt/y Capacity : 2.1 Mt/y Start-up end-2006 Start-up…
  33. 2007 RESULTS AND OUTLOOK – Total SA – slide 33
    Development of profitable growth projects in refining Launching modernization program for Port Arthur refinery Port Arthur project economics (Profitability vs Capex) Coker (50 kb/d) + HDS (64 kb/d) + VDU (55 kb/d) Crude : Sulphur 80%…
  34. 2007 RESULTS AND OUTLOOK – Total SA – slide 34
    Chemicals Investor Relations - www.total.com - 3C2041
  35. 2007 RESULTS AND OUTLOOK – Total SA – slide 35
    Chemicals performed well in a mixed environment Adjusted net operating income (B) European petrochemical margins and results +0.09 1.16 1.09 (0.11) /t M +0.09 Polymer 800 margins 255 Environment Productivity Growth &…
  36. 2007 RESULTS AND OUTLOOK – Total SA – slide 36
    Continuing to improve competitiveness of petrochemicals Improving energy Improving reliability Importance of innovation efficiency (Unreliability rate) (Energy consumption of main crackers) Q2 base 100 base 100 Q1 Solomon…
  37. 2007 RESULTS AND OUTLOOK – Total SA – slide 37
    Investments for growth projects in petrochemicals Daesan (50%) Qapco (20%) Qatofin (49%) Arzew (51%) Construction of 1.3 Mt/y Capacity 2,7 Mt/y Capacity 0.7 Mt/y 1.1 Mt/y ethane cracker ethane cracker expansion +30%…
  38. 2007 RESULTS AND OUTLOOK – Total SA – slide 38
    More than 50% of petrochemicals results based on ethane or in Asia by 2015(e) Ethylene production capacity Petrochemicals adjusted net operating income Mt/y 2015(e) results 4 2007 Middle East Middle East 2015(e)* Algeria Algeria…
  39. 2007 RESULTS AND OUTLOOK – Total SA – slide 39
    Outlook Investor Relations Investor Relations - www.total.com - 3C2041
  40. 2007 RESULTS AND OUTLOOK – Total SA – slide 40
    Excellent capacity to realize new growth opportunities Launching major projects through 2010(e) Resources* Surmont Ph. II Shtokman Ph. I Joslyn mining Laggan / Tormore LNG Upgrader Canada Kashagan full field Arzew cracker Other…
  41. 2007 RESULTS AND OUTLOOK – Total SA – slide 41
    Control development costs without compromising on quality Annual cost inflation rate by equipment* Benefiting from portfolio effect for new developments % 2004 2005 2006 2007 and existing operations Standardization of FPSOs,…
  42. 2007 RESULTS AND OUTLOOK – Total SA – slide 42
    Substantial 2008 Capex program to fuel future growth Capex by segment* Main 2008 investments(e) (Group share) 19 B Kashagan Mahakam Akpo Ekofisk area Chemicals Between 0.6 16 B and 1.0 B Downstream Canadian Pazflor Alwyn /…
  43. 2007 RESULTS AND OUTLOOK – Total SA – slide 43
    Growth creating value thanks to capital discipline Profitability of major new projects Capital employed in segments** Deep Deep offshore Heavy oil conversion LNG IRR B 80 /b 80 Non-producing 60 /b 40 Producing 2…
  44. 2007 RESULTS AND OUTLOOK – Total SA – slide 44
    Successful growth strategy supports competitive dividend policy Pay-out ratio Production Contribution to net cash flow 2008(e) and number of shares Number Pay-out Mboe/d of shares ratio 2.5 60 /b 80 /b base 100 40% 1 /b Brent…
  45. 2007 RESULTS AND OUTLOOK – Total SA – slide 45
    Progressively developing new axes of profitable growth Supply / demand tension and global Totals strategic response climate change are raising the stakes for the long term More technological content in Maintain our technological…

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