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H1 2015 Results – Korea National Oil Corporation

Korea National Oil Corporation · Aug 12, 2015 · 23 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. H1 2015 Results – Korea National Oil Corporation – slide 1
    Investor Presentation Korea Gas Corporation Results of 1H 2015
  2. H1 2015 Results – Korea National Oil Corporation – slide 2
    Contents 1 Results of 1H 2015 4 2 Current Status and Performance of Major Overseas Projects 9 3 KOGAS Overview 16 3
  3. H1 2015 Results – Korea National Oil Corporation – slide 3
    1. Results of 1H 2015 4
  4. H1 2015 Results – Korea National Oil Corporation – slide 4
    Results of 1H 2015 Sales Sales Volume decreased by 1,379 thousand tons(7.4%) YoY to 17,233 thousand tons - City Gas Sector was down by 339 thousand tons(3.4%) YoY to 9,612 thousand tons. Decline in price competitiveness over Bunker-C…
  5. H1 2015 Results – Korea National Oil Corporation – slide 5
    Results of 1H 2015 Consolidated Statements of Comprehensive Income Revenue decreased by 4,717 billion won( 23.7%) YoY to 15,180 billion won. - Decrease in sales volume and decline in unit price determined by the cost pass-through…
  6. H1 2015 Results – Korea National Oil Corporation – slide 6
    Results of 1H 2015 Consolidated Statements of Financial Position Assets decreased by 4,883 billion won( 10.4%) YoY to 41,889 billion won. - Decrease in trade accounts receivable and inventories (Drop in sales volume and unit cost of…
  7. H1 2015 Results – Korea National Oil Corporation – slide 7
    Results of 1H 2015 Accounts Receivable Reinstatement of the cost pass-through system(22 Feb. 2013) and upward adjustment of unit price in account receivable from 1 May 2015 (1.4900won/MJ 2.0410won/MJ) - Collection of accounts…
  8. H1 2015 Results – Korea National Oil Corporation – slide 8
    2. Current Status and Performance of Major Overseas Projects 9
  9. H1 2015 Results – Korea National Oil Corporation – slide 9
    Current Status and Performance of Major Overseas Projects Overseas Projects 26 Projects in 13 countries(As of June 30, 2015) (Exploration 5, Development/Production 10, LNG project 7, Downstream 4) 2 Projects as an operator(Iraq…
  10. H1 2015 Results – Korea National Oil Corporation – slide 10
    Current Status and Performance of Major Overseas Projects Exploration Project Overseas Projects Mozambique Gas initially in place : 85 Tcf Commercial Operation Development/Production Plan to take the FID(Final Investment…
  11. H1 2015 Results – Korea National Oil Corporation – slide 11
    Current Status and Performance of Major Overseas Projects Iraq Zubair Project Overview Performance Additional Development and Production Major Performance Production Volume : Total 6.5 billion barrels FY10 Startup of commercial…
  12. H1 2015 Results – Korea National Oil Corporation – slide 12
    Current Status and Performance of Major Overseas Projects Iraq Badra Project Overview Production Volume : Total 0.8 billion barrels Partners : KOGAS and 4 other companies Contract Type : TSC(Technical Service Contract)…
  13. H1 2015 Results – Korea National Oil Corporation – slide 13
    Current Status and Performance of Major Overseas Projects Myanmar A-1/A-3 Project Overview Performance Total of 23 exploration wells drilled Nov. 2013 : Startup of Commercial production 4.01 Tcf reserves certified FY13 Operating…
  14. H1 2015 Results – Korea National Oil Corporation – slide 14
    Current Status and Performance of Major Overseas Projects Mozambique Gas Field Business Overview Date Discovery details Contract Period : Exploration(0715), 1 Oct. 2011 Mamba S-1 Exploration well(22.5Tcf)…
  15. H1 2015 Results – Korea National Oil Corporation – slide 15
    3. KOGAS Overview 16
  16. H1 2015 Results – Korea National Oil Corporation – slide 16
    KOGAS Overview KOGAS Overview Founded and established in Aug. 1983, pursuant to Korea Gas Corporation Act Major shareholders include Gov. ownership accounts for 54.56% ; Central Gov.(26.15%), KEPCO(20.47%) and Local…
  17. H1 2015 Results – Korea National Oil Corporation – slide 17
    KOGAS Overview LNG Value Chain KOGAS is pursuing fully-integrated value chain from downstream to mid/upstream. Upstream Midstream Downstream Purification & Liquefaction Regasification & Distribution Exploration & Development…
  18. H1 2015 Results – Korea National Oil Corporation – slide 18
    KOGAS Overview Business Scope of KOGAS Domestic Business Overseas Business Stable Profitability Growth Opportunity LNG Purchasing Construction & LNG Supply Exploration and Production(E&P) - One of the Operating of LNG - City and…
  19. H1 2015 Results – Korea National Oil Corporation – slide 19
    KOGAS Overview LNG Import Sources 16 Long term and 3 Mid term contracts in 10 countries around the world (Imported 19,960 thousand tons in 1H 2014, 16,542 thousand tons in 1H 2015) Qatar (4) Sakhalin(1) (1) LNG Import 4.92MM…
  20. H1 2015 Results – Korea National Oil Corporation – slide 20
    KOGAS Overview LNG Terminal & Pipeline Network Currently operating 63 storage tanks in 4 LNG receiving terminals(storage capacity of 9.46 MM kl) Nationwide pipeline network(4,250km) managed by 335 stations. Existing Terminals (As…
  21. H1 2015 Results – Korea National Oil Corporation – slide 21
    KOGAS Overview Major Financial Status Recent 4-Year P/L Trend (Unit : KRWbn) Interest Bearing Debt Long-term debt (About KRW 25tn), Fixed vs Floating = 93 : 7 22
  22. H1 2015 Results – Korea National Oil Corporation – slide 22
    KOGAS Overview Tariff Structure Stablized core business with risk-free tariff structure risk-free from oil price, forex, interest rate - Tariff is composed of material cost and supply cost(Fair Cost + Guaranteed Returns) - Material…
  23. H1 2015 Results – Korea National Oil Corporation – slide 23
    KOGAS Overview Current Status of Dividends Maintain stable dividend policy after being listed on KSE - According to recently announced government dividend policy, the dividend payout ratio will expand to 40% until 2020. 600 56.1…

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