A Transformation is Underway Benefits for PEMEX Benefits for the Industry Round Zero: 1 reserve base largely intact 12.4 MMMboe proved reserves 1 Open and regulated industry low replacement cost 2 Management and budgetary…
A Snapshot of PEMEX Today Exploration and Production Downstream International Crude oil production: 2,263 Mbd1 Refining capacity: 1,690 Mbd 8th largest oil producer worldwide2 Natural gas production: 5,550 MMcfd1,3 Strategically…
Building on Our Significant Infrastructure Production Capacity Producer Zone Refinery Refining Petrochemical Center Atmospheric distillation capacity 1,602 Mbd Gas Processing Gas Processing Center Sour Nat Gas 4.5 Bcf Camargo…
Distribution of PEMEXs Reserves1 Oil and Gas MMMboe (billion barrels of oil equivalent) Gas Prospective Reserves Resources Basin Cum. Prod. Sabinas Burgos 1P 2P 3P Conv. Non Conv. Deep Sea (90%) (50%) (10%) Tampico-…
Future Production Frontiers Deepwater Infrastructure1 Shale Potential2 United States United Gulf of Mexico States Mexico Mexico Cuba There is an important potential for deepwater and non-conventional hydrocarbons in…
Quick Take on the New Energy Sector in Mexico Assignments Regulated by the Ministry of Energy and the CNH Migration PEMEX to 1. Production-sharing continue 2. Profit-sharing commercialization Contracts + Third Parties 3.…
Round One Calendar Non-Conventional Type of Shallow Waters Shallow Waters Deep-Water Onshore & Field Exploration Extraction & Extra-Heavy Oil Chicontepec Bid Dec. 2014 Feb. 2015 May 2015 TBD Launch Areas 14 PSC1 5 PSC 25 Licenses…
Fiscal Regime for Assignments Key Takeaways 1. Simple 2. Resembles typical tax scheme 3. Gradual reduction of fiscal burden Duties and Royalties Hydrocarbon Exploration Fixed amount per km2 (amount increases with time) Duty…
Corporate Governance and Structure Strengthen Corporate Governance Board Committees Human Audit Resources and Compensation State Acquisitions, SENER SHCP Independent Members Strategy and Representatives1 Leasing, Works…
Transparency and Anti-Corruption Capacities Congressional Auditing Body (ASF5) Legislative Branch Supervision from coordinated and qualified authorities, and internal and external bodies Executive Auditing Branch Executive Branch…
Focused and Proactive Sustainability Agenda Biodiversity projects PEMEX-SSPA Operations Human rights Indigenous communities Community involvement projects Local content and industrial development PEMEX University Sustainability…
PEMEX Strategy in Partnerships is Focused on Three Main Major Objectives Migrate the current E&P Under the new legal framework, existing contracts with corresponding Service Contracts (FPWC1 contractors will be migrated into EEC and…
Bringing New Partnerships On-Board 2P Reserves CAPEX (MMboe)2 (USD billion) Fields 2.6 Phase 1 569 Poza Rica-Altamira and Burgos 22 existing contracts1 Phase 2 1,639 32.7 ATG and Burgos Shallow waters 350 6.3 Bolontik, Sinn and…
Downstream Business Portfolio: Main Projects Refining Gas Processing Petrochemicals Cogeneration Challenges: Challenges: Challenges: Challenges: Increase operational Expand gas pipeline Integrate value Take advantage of efficiency…
New Business Models - Downstream PEMEX has developed successful strategic alliances in our downstream activities Project Deer Park Gas Pipelines PEMEX Mexichem Partner Aa1 (Neg) / AA- (Neg) / AA- Baa3 (Stb) / BBB- (Stb) / BBB…
Income Statement Evolution Income Statement Income before taxes and duties USD Billion Taxes and duties Historically, from 2009 to EBITDA 2014, taxes have accounted Total sales for 118% of operating income and 129% of before- 100 tax…
Price Sensitivity 2015 Price Sensitivity 2015: -1 USD/b USD Million (164) (287) 69 303 (356) 107 1 2 Exports Domestic Sales Imports DUC DEH Total Considering current production and the Mexican Mix price3, if the crude…
Balance Sheet Evolution Liability and Equity Profile USD Billion 19 14 17 In addition to internal cash 21 flows, PEMEX has resorted 17 97 to financial markets to 100 15 finance its investment 23 99 86 15 62 projects. 49 9 54…
CAPEX Financing MXN Billion Fund Raising in the O&G Industry1 10% Bonds 277 50% Project finance 253 259 263 231 237 244 Bank loans 20% 31% 9% Equity 62% 65% 80% Under Review PEMEX Financing Program 2015 2% Bonds (domestic,…
Debt Profile1 By Currency By Interest Rate By Instrument By Currency Exposure 2% 1% 21% 4% 1% 1% 25% 9% 62% 3% 23% 64% 76% 10% 75% 5% 18% 0% Dollar Euros Fixed Floating Int. Bonds Cebures Dollar Euros Pesos UDI UDIS British…
2015 Financing Program Programmed Raised Sources of Funding USD billion (Jan-Aug 2015) Domestic Markets 7.0 9.0 2.1 International Markets 8.0 11.0 8.4 Bank Loans 2.0 3.0 1.6 Export Credit Agencies (ECAs) 1.0 2.0 0.5 Other 0.2…
2016 Financing Program1 Programmed Sources of Funding USD Billion Domestic Markets 6.0 9.0 International Markets 8.0 11.0 Bank Loans 0.5 1.5 Export Credit Agencies (ECAs) 1.0 2.0 Other 3.0 3.5 Total 21.0 Debt Payments 5.3 Net…
New Sources of Funding Fiscal JVs Pension Monetizations Liability Migration of Associations Defined Divestment of non- existing contracts contribution strategic assets Farm-outs to new tax regime Age / seniority New…
FIBRA E Publicly-traded vehicle to monetize stabilized transportation and storage infrastructure while maintaining operational control Overview Objective is to raise equity capital from existing transportation and storage assets Based…
FIBRA E Structure Overview Key Advantages New Capital A Equity capital raised by B New monetizing midstream A Capital Fund Projects with Investors assets New Capital B is invested in new D Maintains high-return projects at…
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