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BAML RUSSIA CIS CONFERENCE – Novatek

Novatek · Nov 11, 2014 · 31 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. BAML RUSSIA CIS CONFERENCE – Novatek – slide 1
    Harnessing the Energy of the Far North Mark Gyetvay, Deputy Chairman of the Management Board Bank of America Merrill Lynch, Russia & CIS 1-1 Conference London 10-11 November 2014
  2. BAML RUSSIA CIS CONFERENCE – Novatek – slide 2
    Fields and License Areas Producing fields: 1. Yurkharovskoye field 2. East-Tarkosalinskoye field 3. Khancheyskoye field 4. Olimpiyskiy license area 5. Yumantilskiy license area 6. Samburgskiy license area 7. North-Urengoyskoye field…
  3. BAML RUSSIA CIS CONFERENCE – Novatek – slide 3
    Positions in the World Proved gas reserves as at 31.12.13 (SEC), bcm Gas production in 2013, bcm Gazprom 18 939 Gazprom 488 ExxonMobil 2 035 ExxonMobil 145 Petrochina 1 963 Shell 99 NOVATEK 1 740 4 BP 83 Rosneft 1 329…
  4. BAML RUSSIA CIS CONFERENCE – Novatek – slide 4
    Low Cost Base and High Profitability 3-year average reserve replacement costs (2011-2013), USD/boe PICAGR Production (net income to capital expenditures), 2009-2013 (2008-2012) NOVATEK 2,0 NOVATEK 1,8 SWE 9,0 BG GROUP 0,4…
  5. BAML RUSSIA CIS CONFERENCE – Novatek – slide 5
    Leading Growth at Lowest Cost EBITDA CAGR (2009-2013) CAPEX/EBITDA (2009-2013) EOG 49% NOVATEK 0,5 NOVATEK 32% SWE 0,7 ANADARKO 27% APACHE 0,7 PIONEER 23% BG GROUP 0,9 APACHE 18% ENCANA 1,0 BG GROUP 13% ANADARKO…
  6. BAML RUSSIA CIS CONFERENCE – Novatek – slide 6
    Low Production Costs Production costs, USD/boe Production costs structure (2013), % 33,5 100% 100% 100% Transport; 2% 31,4 Taxes 7% Transport; 15% 28,1 27,9 25,4 Taxes other than 23,8 income ; 15% Transport; 67% DD&A;…
  7. BAML RUSSIA CIS CONFERENCE – Novatek – slide 7
    SEC Proved Reserves Reserve replacement ratio in 2013 132% Organic reserve replacement ratio 144% mmboe 1,290 634 12,394 12,537 12,537 12,537 12,537 (1,342) (439) Liquids Acquisitions: Others East-Tazovskoye field…
  8. BAML RUSSIA CIS CONFERENCE – Novatek – slide 8
    Hydrocarbon Production Natural Gas Sales Liquids Sales Total Hydrocarbon Production, bcm Production, mmt Sales Production, mmboe CAGR 15% CAGR 13% CAGR 15% Absolute increase 85% 4.8 Absolute increase 100% Absolute increase 101%…
  9. BAML RUSSIA CIS CONFERENCE – Novatek – slide 9
    Development of Production Capacities in 2013 Launch of the Eastern Dome of the North-Urengoyskoye field, developed by Nortgas JV, which allowed to increase production capacity of the field to more than 10 bcm of natural gas and 1.3…
  10. BAML RUSSIA CIS CONFERENCE – Novatek – slide 10
    Development of Production Capacities: Plans for 2014-2015 Plan Timing Status First stage launched in April 2014, production restarted at limited April 2014 capacity in July following a fire at the de-ethanization facility. The…
  11. BAML RUSSIA CIS CONFERENCE – Novatek – slide 11
    Monetizing Our Resource Base 9M 2014 PRODUCING FIELDS Natural gas by pipeline 100% TO DOMESTIC MARKET 48.2 bcm Separation and treatment Unstable gas condensate by pipeline Crude oil by PUROVSKY PLANT (11 mmtpa) UST- LUGA…
  12. BAML RUSSIA CIS CONFERENCE – Novatek – slide 12
    EBITDA per BOE of Production EBITDA per boe and production in 2013 2013 production breakdown 45 Total Apache Share of Share of 40 EOG production, Natural Gas Liquids mmboe 35 NOVATEK 439 93% 7% BG Pioneer PEER Anadarko 30…
  13. BAML RUSSIA CIS CONFERENCE – Novatek – slide 13
    Financial Results Normalized EBITDA 200% Internally Funded Investment Program of subsidiaries1,RR bln 2,5 121,8 180% 2,3 110,0 160% 1,9 95,2 140% 2,0 85,4 1,7 120% 1,7 88,5 71,9 75,8 1,5 69,6 1,5 100% 1,5 44,9 56,2 34,8…
  14. BAML RUSSIA CIS CONFERENCE – Novatek – slide 14
    Yamal LNG
  15. BAML RUSSIA CIS CONFERENCE – Novatek – slide 15
    Yamal LNG Project Project for construction of an LNG plant on the Yamal Peninsula: Shareholders 2P PRMS gas reserves of the South-Tambeyskoye onshore conventional field at 31.12.13 - 927 bcm Total 20% Liquefaction capacity - 16.5…
  16. BAML RUSSIA CIS CONFERENCE – Novatek – slide 16
    Unrivalled Resource Potential of the Yamal Peninsula 17
  17. BAML RUSSIA CIS CONFERENCE – Novatek – slide 17
    Drilling Program Onshore Conventional Gas Five out of 19 well pads prepared for drilling Three rigs on-site 23 production wells drilled out of 58 wells required for the first train, of which 20 wells tested and confirmed…
  18. BAML RUSSIA CIS CONFERENCE – Novatek – slide 18
    Selected Contractors Contract Equipment Contractor signed EPC Technip/JGC/Chiyoda 1. Cryogenic Heat Exchangers APCI 2. Turbine Cryogenic Compressors General Electric 3. Boil-Off Gas Compressors Siemens 4. Integrated Control &…
  19. BAML RUSSIA CIS CONFERENCE – Novatek – slide 19
    Construction Works Construction cargo at the port Living camp Construction of roads LNG tanks 20
  20. BAML RUSSIA CIS CONFERENCE – Novatek – slide 20
    LNG Transportation Routes from the Yamal Peninsula All year round to Europe and Latin America During Summer to Asia During Winter to Asia Average number of days 8 Trans- 8 shipment 12 14 25 18 26 32 36 21
  21. BAML RUSSIA CIS CONFERENCE – Novatek – slide 21
    Northern Sea Route (NSR) Length of the NSR 3,000 miles Reduces delivery time to the Asian-Pacific region by up to 2.5 times In 2010, NOVATEK sent the first cargo of gas condensate from the port of Vitino on the Barents Sea to…
  22. BAML RUSSIA CIS CONFERENCE – Novatek – slide 22
    ARC7 Ice-Class LNG Carriers 15-16 ice-class tankers required for the project Slot reservation agreement concluded Shipping tender finalized Orders for the first 10 tankers placed by the shipping companies Steel cut for the…
  23. BAML RUSSIA CIS CONFERENCE – Novatek – slide 23
    Key Project Advantages Low-cost, long-lived feedstock Large onshore conventional reserve base with high concentration of reserves Well known geology and proven development technologies Very low F&D and lifting costs Convenient…
  24. BAML RUSSIA CIS CONFERENCE – Novatek – slide 24
    Appendix
  25. BAML RUSSIA CIS CONFERENCE – Novatek – slide 25
    Financial Summary 9M 2014 (RR million) 9M 2014 9M 2013 +/(-) +/(-)% Oil and gas sales 260,504 213,907 46,597 21,8% Total revenues 261,779 214,243 47,536 22,2% Operating expenses (165,415) (137,749) (27,666) 20,1% EBITDA of…
  26. BAML RUSSIA CIS CONFERENCE – Novatek – slide 26
    9M14/9M13 Performance Summary Macroeconomic Brent US/bbl -1.8/bbl 106.6/bbl RR depreciation/(appreciation) to US 3.77/USD 35.38 RR/USD Financial (in millions of Russian roubles) Total revenues 47,536 261,779 Total operating…
  27. BAML RUSSIA CIS CONFERENCE – Novatek – slide 27
    Natural Gas Sales Gas Sales Breakdown 100% 90% 80% ST.PETERSBURG 9M2013 9M2014 70% 933 849 VOLOGDA REGION YAMAL-NENETS 60% 9M2013 9M2014 AUTONOMOUS REGION 9M2013 9M2014 1,671 1,751 50% PERM REGION 5,202 2,856 MOSCOW…
  28. BAML RUSSIA CIS CONFERENCE – Novatek – slide 28
    Increase in End-Customer Sales 100% 6% 6% 6% 11% 11% 10% 12% 24% 27% 38% 35% 43% 43% 75% 50% 94% 94% 94% 89% 89% 90% 88% 76% 73% 62% 65% 57% 57% 25% 0% 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q…
  29. BAML RUSSIA CIS CONFERENCE – Novatek – slide 29
    Liquids Sales Liquids Sales Volumes, mmt 5.4 4.9 Liquids sales 4.1 4.2 Naphtha 3.4 3.1 4.4 3.7 Jet fuel 3.4 2.6 2.8 3.5 Diesel and fuel oil LPG 1.0 1.2 0.5 0.6 0.6 0.8 Crude oil 2009 2010 2011 2012 2013 9M2014 Stable…
  30. BAML RUSSIA CIS CONFERENCE – Novatek – slide 30
    Debt Composition as at 30 September 2014 Total Debt Maturity Profile (RR million) Debt Structure (Total Debt = RR 182.4 billion) 61,602 64,725 Fixed/floating 68% 32% 31,956 USD/RUB 81% 19% 16,657 13,517 10,630…
  31. BAML RUSSIA CIS CONFERENCE – Novatek – slide 31
    Questions and Answers Contact details: NOVATEKs Investor Relations Mark Gyetvay, Deputy Chairman of the Management Board Alexander Palivoda, Head of IR Tel: +7 (495) 730-6013 Email: irnovatek.ru Website: www.novatek.ru

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