IFRS FINANCIAL AND OPERATING RESULTS FOR THIRD QUARTER 2014 November 12, 2014, Saint-Petersburg
Agenda Highlights, Alexey Yankevich Financials Member of the Management Board, CFO Upstream Mikhail Zhechkov Head of Economics and Investment Department, Exploration and Production Division Downstream Vladimir Konstantinov…
Exploration and Production Increasing oil production while expanding the portfolio Gazprom neft 5
Major achievements and key developments Purchased Kuvaiskiy License Block in Orenburg (estimated recoverable reserves (P50) 3.8 MMTonnes) Production increased by 5.1% Y-o-Y Four tankers of new Novy Port crude delivered, loaded…
Orenburg, increased stake in SeverEnergia and acquisition of stake in Nortgaz have driven increased production Average daily hydrocarbon production, Total hydrocarbon production, MMtoe 000 toe/day 7.2% 4.4% 16.1 16.7 15.5 15.9…
Increased production from legacy fields and major projects continues to drive growth Hydrocarbon production 9M 2014 to 9M 2013, MMtoe +5.1% Oil + 0.99 MMTonnes Gas + 1.36 MMtoe *JVs refer to proportionately consolidated…
Increased production from legacy fields and major projects continues to drive growth Hydrocarbon production 3Q 2014 to 2Q 2014, MMtoe +4.4% 0.00 Oil + 0.52 MMTonnes Gas + 0.18 MMtoe *JVs refer to proportionately…
Bazhenov development continues Priobskoye Field Expected Results: Increase crude production to 1.5 MMtonnes/y Develop 27.4 MMtonnes of hydrocarbon reserves at Bazhenov, Abalaksk, Tyumen and Achimov suites Yamal-Nenets Autonomous…
New field development Launched third line of gas Produced 145 thousand tonnes of SeverEnergia Prirazlomnoye processing facility at Samburgskoye crude Nortgaz field Shipped two crude tankers (totaling Completed pilot production at…
Downstream Increasing throughputs as premium channel sales rise Gazprom neft 12
Refining investments remain on track while premium sales continue to grow 9M 2014 Key results: 2014 Major goals: Refining throughput grew 4.2% in Refining 9M14 vs. 9M13 GPN-Total JV completed polymer- Omsk: complete FEED and launch…
Crude into domestic refining continues to increase, maximizing earnings Crude Mix, MM Tonnes Crude Price and Average Netbacks, /bbl Domestic refining 10.2 10.6 9.9 120 Refining cover in Russia 81.5% 81.6% 79.4% 110 14.2 14.5…
Premium channels continue domestic and global expansion in 3Q14 Premium sales volume growth Increased average daily throughput per site in 9M 2014 vs. 9M 2013 Russia to 20.7 tpd in 3Q14 vs. 19.7 in 3Q13, an increase of 5% Reached…
Financials Production growth and increase in sales pushed 13.3% growth in EBITDA Gazprom neft 17
Rising prices and hydrocarbon production driving Y-o-Y EBITDA growth Revenue rose by 13.3% Y-o-Y on higher hydrocarbon production and sales volumes, particularly via Revenues premium channels, as well as rising RUB bln prices (in…
EBITDA reconciliation 9M 2014 vs. 9M 2013 EBITDA 9M 2014 vs 9M 2013, RUB bln 2.3 285.5 13.6 1.7 4.2 251.9 1.7 (0.9) 30.1 21.1 (10.2) 23.5 255.4 228.4 9M13 Price Increase in Decrease in Reduction of Crude oil Volumes…
EBITDA reconciliation 3Q14 vs. 2Q14 EBITDA 3Q14 vs 2Q14, RUB bln 0.1 2.2 10.5 107.2 94.4 2Q14 Price Crude oil Volumes 3Q14 & & gas volumes management effectiveness Gazprom neft 20
Investments support strategic goals and greenfield development 13% Y-o-Y growth in brownfield capex due Investments, RUB mln to increased use of new technologies at legacy fields 224,230 Active development of offshore projects,…
Gazprom Neft credibility and balanced debt portfolio Ratings history Debt structure at the end of 3Q14, RUB mln 418,388 146,966 16,523 Other borrowings 61,157 100,510 BBB/Baa2 Bonds Cash and cash equivalents Investment grade…
Appendix Gazprom neft 24
Procurement and R&D rapidly adjusting to new operating conditions Comparison of domestic and imported Formed working groups to equipment in procurement manage refinery modernization risks, cooperation with China and IT import…
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