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ATON CONFERENCE – Bashneft

Bashneft · Jun 18, 2012 · 27 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. ATON CONFERENCE – Bashneft – slide 1
    JSOC Bashneft Top Picks ATON Conference 18 June 2012, Moscow
  2. ATON CONFERENCE – Bashneft – slide 2
    Bashneft Group Today Crude Oil Production Crude oil production in 2011 15.1 mln.tonnes. Production growth rate in 2011 - +6.8% Share in Russias crude oil production 3.0% Number of fields 190 Proved oil reserves PRMS (1) 1 984…
  3. ATON CONFERENCE – Bashneft – slide 3
    Key indicators for Bashneft Group in 1Q 2011 and 12M 2011 1Q 2012 4Q 2011 , % Indicator 12M 2011 12M 2010 , % Macro indicators 117,0 108,6 7,7% Urals price, US/barrel 109,1 78,3 39,3% 54,9 55,3 -0,7% Crude oil export duty,…
  4. ATON CONFERENCE – Bashneft – slide 4
    Reserves as of 31 December 2011 Reserves Reserves Trebs & Titov oilfields in Nenets 190 fields, of which 166 in operation Autonomous Okrug (2 oilfields) Proved oil reserves (1P) in 2011 1,984mmbbl; (2P) 2,404mmbbl Reserve life of…
  5. ATON CONFERENCE – Bashneft – slide 5
    Trebs & Titov oilfields: the key driver of future production growth In the long-run the project will support production growth Reserves under 1 classification C1+C2: 140.1 mmt C3: 59.3 mmt Reserves under the standards of PRMS(1)…
  6. ATON CONFERENCE – Bashneft – slide 6
    Trebs & Titov oilfields: the key driver of future production growth 15 April 2011: Bashneft and Lukoil signed a treaty on cooperation for the development of the oilfields 14 December 2011: license reissued for JSC Bashneft Polus 27…
  7. ATON CONFERENCE – Bashneft – slide 7
    Oil Production Oil production growth rates in 2011, % Upstream business results 6.8% Bashneft remained the Russian oil sector leader by crude output 2,1% growth rates in 2011. Crude output was 15.106 million tonnes, which is 1,9%…
  8. ATON CONFERENCE – Bashneft – slide 8
    Upstream strategy Oil production forecasts 20 18,5 18 15,1 15,2 16 14,1 14 12,2 12 10 8 6 4 2 0 2009 2010 2011 2012E 2013E 2014E 2015E 2016E Bashneft as is Trebs & Titov Mid-term goals 2012- 2016 Crude oil production of…
  9. ATON CONFERENCE – Bashneft – slide 9
    Bashneft Group refineries Oil refining capacity 24.1 mln. tonnes per year Refining volume in 2011 21.1 mln. tonnes Average refining depth 85.9% Share of light products in 2011 59.9% Nelson index 8.3 Potential to produce Euro-3 and…
  10. ATON CONFERENCE – Bashneft – slide 10
    Oil Refining Oil refining growth rates (FY11),% Comments * Refining volumes in 2011 declined by 0.6% y-o-y to 21.062 million tonnes. 5,4% In the 1st quarter of 2012, crude oil refining amounted to 5,120 thousand tonnes, -0,1% having…
  11. ATON CONFERENCE – Bashneft – slide 11
    Downstream strategy Refining volume, refining depth and light yield Mid-term goals (2012- 2016) 25 94,4% 100% Refining 85,9% Reach technical and economic metrics on the level of best European refineries 23 73,4% 80% Light yield…
  12. ATON CONFERENCE – Bashneft – slide 12
    Group sales Export and domestic sales of oil products, Sales results mln. tonnes. 6,0 Total sales of petroleum products in the 1st quarter of 2012 amounted to 4,337 5,0 thousand tonnes. 4,0 In the 1st quarter of 2012, domestic sales…
  13. ATON CONFERENCE – Bashneft – slide 13
    Capex dynamics: focus on developing newly acquired fields and modernizing refining capacities USmm Capex dynamics USmm CAPEX in production and refining 900 851 160 146 147 800 53 140 700 589 308 120 106 600 102 492 100 95 500…
  14. ATON CONFERENCE – Bashneft – slide 14
    Capex overview (2011e-2016e) Capex structure by business lines Comments (average annual) Bashneft estimates that the capital expenditure in 2011-2016 may be US1-1.2bn per year 100% around US1-1.2bn (ca. RUB 40bn) per year (excluding…
  15. ATON CONFERENCE – Bashneft – slide 15
    Key credit strengths Extensive reserve base Large-scale vertical Top-industry production combined with top- integration from crude growth rates backed by industry replacement oil production to sales significant potential for…
  16. ATON CONFERENCE – Bashneft – slide 16
    Debt portfolio Debt breakdown (as of December 31, 2011) Debt structure, % 4 500 4 000 100% 5,0% 9,0% 90% 3 500 80% 3 000 881 70% 2 500 60% (602) 50% 2 000 2 965 95,0% 91,0% 3 385 40% 1 500 30% 1 000 1 902 20% 500 10% 420 0% 0…
  17. ATON CONFERENCE – Bashneft – slide 17
    Appendix
  18. ATON CONFERENCE – Bashneft – slide 18
    Shareholder structure: stock consolidation by Sistema Shareholder equity Voting shares 3,1% Sistema 1,5% 12,2% 23,9% Sistema BB/Ba3/BB- (S&P/M/F) is the largest Sistema-Invest public diversified financial corporation in Russia…
  19. ATON CONFERENCE – Bashneft – slide 19
    Group structure 52.1% * (61.3% **) Sistema JSFC 26.7% * (26.7% **) Bashneft Sistema-Invest 20.9% * (25.0% **) 54.9% * (65.7% **) 18.2% * (22.4% **) Ufaneftekhim 8.1% * (8.1% **) 61.8% * (67.4% **) 25.6% * (28.2% **) Novoil…
  20. ATON CONFERENCE – Bashneft – slide 20
    Transition to a single share Key goals of the transaction Target Corporate Structure3 Establish Bashneft as a fully-fledged vertically-integrated company Minority Optimise corporate structure to improve efficiency AFK Sistema…
  21. ATON CONFERENCE – Bashneft – slide 21
    Transition to a single share: buyback and conversion factors Proposed buyback prices (Roubles) Ordinary Shares Preferred shares Conversion ratio: number of Conversion ratio: number of Company shares in subsidiary per 1 share of…
  22. ATON CONFERENCE – Bashneft – slide 22
    Constant monitoring and application of best corporate governance practices Board of Directors Alexander Goncharuk Chairman Sergei Drozdov Aleksey Buyanov Mikhail Shamolin Anton Abugov Felix Evtushenkov Senior Vice President, Senior…
  23. ATON CONFERENCE – Bashneft – slide 23
    Corporate governance and management structure Committees Alexander Corporate Budget and Nominating and Board of Strategy Korsik Conduct Audit Compensation Directors Committee President Committee Committee Committee…
  24. ATON CONFERENCE – Bashneft – slide 24
    Management team with strong track record 1995-1997 Deputy executive director of KomiTek-Moscow Alexander 1997-1999 Head of strategic development department, 1999-2005 first vice president of Sibneft Korsik President 2006 Deputy…
  25. ATON CONFERENCE – Bashneft – slide 25
    Management team (contd) 1997-2006 Worked in OJSC Sibneft Igor Marchenko November 2006- 2007 Development Director of ITERA Oil and Gas Company LLC. Vice President 2007-2009 Vice President for Development in OAO NK RussNeft. Strategy…
  26. ATON CONFERENCE – Bashneft – slide 26
    Management team (contd) Viktor 20 years of experience at the Ufa refinery Gantsev 1998-2004 Director of Bashneftekhim Senior Vice President 2006-2009 Director of Ufaneftekhim Refining and 2009 Senior Vice President of the…
  27. ATON CONFERENCE – Bashneft – slide 27
    Thank you for your attention Our contacts: Investor Relations Department Maria RADINA Head of IR Phone: (007) (495) 225-00-35, ext. 99832 E-mail: RadinaMAbashneft.ru 5, 1-st Tverskaya-Yamskaya Moscow, 125047, Russia Tel: +7 495 225 00…

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