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H1 2015 Financial Results – Kazmunaigas Exploration Production

Kazmunaigas Exploration Production · Aug 13, 2015 · 17 slides

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Slides

  1. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 1
    JSC KazMunaiGas Exploration Production 1H2015 Financial results August 2015
  2. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 2
    1H2015 financial highlights Brent and domestic prices down YoY in 1H15 Net cash** US3,770m as at 30/06/2015 /bbl 1H15 1H14 % YoY change Brent, /bbl 57.8 108.9 (47%) 3 987 3 770 Average domestic 23.0 48.0 (52%) price, th. KZT/…
  3. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 3
    1H2015 operating highlights 1H2015 production in line with the plan kbopd 251 251 250 250 247 34 34 32 30 31 PKI (33%) 20 20 20 19 19 30 33 32 32 32 CCEL (50%) 58 57 56 57 56 KGM (50%) EMG 109 107 110 112 110 OMG 3Q2014 4Q2014…
  4. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 4
    1H2015 operating highlights 1H2015 Sales mix th. tonnes CPC 907 22% ANPZ ANPZ from 1 101 OMG&EMG UAS 4,162* 26% at T22.4 th./t 1 458 (16.7 per bbl) 35% Russia 566 14% PNHZ 96 2% Sales to Russia PNHZ from at 41.3 per bbl…
  5. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 5
    Shipments to Russia KMG EP supplied 566,000 tons of crude oil to Russia in Netback* price in 1H2015 /bbl March-June 2015. Average Brent price 57.8 Under inter-governmental agreement Kazakhstan will compensate for oil products…
  6. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 6
    1H2015 Key Figures 1H14 1H15 YoY, % 1Q15 2Q15 QoQ, % Brent /bbl 109 58 -47% 54 62 15% Core production kbopd 164 167 2% 166 169 2% JVs production kbopd 86 83 -4% 84 81 -4% Core export % 74% 57% -17pp 71% 43% -28pp JVs export % 51%…
  7. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 7
    1H2015 Revenue Sales by routes, th. tonnes 1,987 2,023 2,139 Revenue declined due to: 21% 28% Decline in Brent price by 50% YoY in 1H2015. 31% 20% 1% Decrease in average domestic price by 52% to 23 th. 28% 25% Tenge per tonne…
  8. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 8
    Lifting costs* and taxes other than on income Lifting costs*, /bbl 17.8 In 1H15 employee benefits up YoY due to: 15.9 1.4 15.1 salary indexation by 7% from January 2015 and 10% 1.2 1.5 1.5 1.3 1.0 salary increase from Apr. 1;…
  9. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 9
    Share of JVs income in 1H15 at 1.9bn Tenge 1H15 KGM PKI UGL Total Net income/(loss), USm 79 (36) (10) na In 1H15 KMG EP recognized 1.9bn Tenge 100% (US10m) as a share of JV income compared KMG EP share in net KZT bn 7.3 (2.2) (0.9) na…
  10. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 10
    JVs income in 1H15 down due to lower Brent price KGM key figures (100%) 1H2014 1H2015 YoY, % Revenue, m 781 375 -52% In 1H15 export volumes down by 15% YoY. Net income, m 287 79 -73% Brent price in 1H15 declined by 47% YoY, domestic…
  11. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 11
    Financial summary (in KZT bn) KZT bn unless stated otherwise 1Q 2014 2Q 2014 3Q 2014 4Q 2014 2014 1Q 2015 2Q 2015 1H 2015 Production at Core assets (th. tonnes) 1,985 2,033 2,084 2,049 8,151 2,021 2,086 4,107 Revenue 221 244 226 155 846…
  12. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 12
    Financial summary (in USD mn) USm unless otherwise indicated 1Q 2014 2Q 2014 3Q 2014 4Q 2014 2014 1Q 2015 2Q 2015 1H 2015 Production at Core assets (kbopd) 162 164 167 164 164 166 169 167 Revenue 1,301 1,335 1,235 851 4,722 632 669…
  13. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 13
    Summary of JVs financial results USmn 1Q14 2Q14 3Q14 4Q14 2014 1Q15 2Q15 1H15 Kazgermunai, 100% Revenue 395 387 344 274 1,400 189 186 375 Operating expenses (198) (164) (159) (115) (636) (121) (117) (238) Income taxes (110) (81) (80) (19)…
  14. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 14
    Cash and financial assets US3.8bn as at 30/06/2015 Cash and financial assets by banks as at 31/12/2014 Net Cash* of US3,770mn as at 30/06/2015 18 3 987 (259) 47% 25 19 3 770 53% Local banks International banks Net Cash, CFO…
  15. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 15
    Lifting costs*, OMG and EMG, /bbl 16.1 15.5 15.1 17.8 16.9 15.8 1.4 15.9 0.5 15.3 14.9 15.0 15.1 14.7 1.4 14.4 0.7 1.0 0.9 1.0 3.7 0.7 0.8 0.6 4.9 2.6 2.4 3.3 4.0 3.4 3.9 3.1 1.5 1.5 4.6 1.5 1.3 1.2 1.4 1.4 1.5 1.0 1.0…
  16. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 16
    Reference information Share information, 30/06/2015 Contacts Total Treasury Corporate website: Number of ordinary shares 70,220,935 4,123,865 www.kmgep.kz Number of preferred shares 4,136,107 2,073,147 GDRs per one ordinary share 6…
  17. H1 2015 Financial Results – Kazmunaigas Exploration Production – slide 17
    Abbreviations list bbl barrel mmbbl million barrels bn bbl billion barrels bopd barrels per day EGM Extraordinary General Meeting of shareholders kbopd thousand barrels per day US m million US dollars US bn billion US dollars KZT bn…

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