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2016 Year End Opportunity Day – PTTEP

PTTEP · Mar 2, 2017 · 44 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. 2016 Year End Opportunity Day – PTTEP – slide 1
    PTT Exploration and Production Public Company Limited 2016 Year-End Opportunity Day Stock Exchange of Thailand 2 March 2017
  2. 2016 Year End Opportunity Day – PTTEP – slide 2
    Industry Overview 2016 Key Achievements Financial Performance Growth Outlook 2
  3. 2016 Year End Opportunity Day – PTTEP – slide 3
    Oil Prices Outlook for 2017 A sign of recovery but uncertainty persists PTTEP views Dubai price at 50-60 /BBL with a number of key watching catalysts 2017 Oil Price Consensus Production cut from OPEC and non-OPEC /BBL 80 Brent…
  4. 2016 Year End Opportunity Day – PTTEP – slide 4
    Industry Overview 2016 Key Achievements Financial Performance Growth Outlook 4
  5. 2016 Year End Opportunity Day – PTTEP – slide 5
    Survived through the Downturn and Ready to Strike Strong operational and financial performance amid the oil price crisis Brent Oil Price (LHS) EBITDA Margin US / Barrel % 120 75 100 70 Brent 14 80 Avg 99 65 60 60 40 Brent 15…
  6. 2016 Year End Opportunity Day – PTTEP – slide 6
    Disciplined Cost Management Approx. 30% reduction to date on both CAPEX and OPEX Expenditure (CAPEX + OPEX) Continuing Cost Improvement Momentum CAPEX OPEX Unit: Bn USD Development Drilling Cost per Well* Reductions achieved through…
  7. 2016 Year End Opportunity Day – PTTEP – slide 7
    Peers Performance Comparison Beat the industry average Deliver better performance % EBITDA Margin % Total Return Rate 90% 85 70% 45 50% 5 30% (35) 10% (75) 2012 2013 2014 2015 2012 2013 2014 2015 2016 with competitive…
  8. 2016 Year End Opportunity Day – PTTEP – slide 8
    Priority on Safety and Sustainability Significant cost reduction without compromising on SSHE Safety DJSI Maintain high safety standard Listed for three consecutive years of incidents per million man hours (Lost time injury…
  9. 2016 Year End Opportunity Day – PTTEP – slide 9
    Industry Overview 2016 Key Achievement Financial Performance Growth Outlook 9
  10. 2016 Year End Opportunity Day – PTTEP – slide 10
    Sales Volume & Unit Costs Deliver targeted sales volume with leaner cost structure Sales Volume and Price Unit Cost 400,000 BOED 50 /BOE 322,167 319,521 43.45* 312,569 38.88 21,702 19,834 40 300,000 26,539 Rest of World 46,460…
  11. 2016 Year End Opportunity Day – PTTEP – slide 11
    Cash flow performance Healthy EBITDA margin with robust liquidity to fund CAPEX and debt service Cash Flow Performance Source & Use of Funds in 2016 MMUSD % MMUSD EBITDA Margin (RHS) 5,000 100 3,000 4,330 2,463 2,500 4,000 71%…
  12. 2016 Year End Opportunity Day – PTTEP – slide 12
    Financial Position Solid balance sheet with 4Bn cash on hand for future growth MMUSD Capital Structure D/E Ratio 25,000 23,271 1.00 20,000 6,494 19,642 18,891 0.80 5,309 4,673 15,000 4,229 0.60 3,005 2,832 10,000 0.40 0.34…
  13. 2016 Year End Opportunity Day – PTTEP – slide 13
    Dividends Demonstrating our dividend commitment to shareholders Dividend Payment History (Policy : No Less Than 30% of Net Income) 1H 2H THB per share 5.80 6.00 6.00 4.50 3.00 3.00 4.00 1.50 3.25 3.00 2.00 2.00 2.50 2.80…
  14. 2016 Year End Opportunity Day – PTTEP – slide 14
    Sales Volume Guidance Focus area in Thailand and South East Asia Unit : KBOED 400 320 312 311 300 300 276 263 Rest of World Other SEA 200 Thailand & 100 MTJDA 0 2016 2017 2018 2019 2020 2021 Contract 4 (Ubon) Algeria HBR…
  15. 2016 Year End Opportunity Day – PTTEP – slide 15
    Investment Plan (CAPEX and OPEX) SPEND SMART through leaner CAPEX and OPEX program Investment plan (CAPEX and OPEX) 4,000 3,167 3,219 3,039 3,000 2,903 5 Years (2017 2021) Unit : MMUSD 2,622 2,194 1,272 1,235 1,159 1,260…
  16. 2016 Year End Opportunity Day – PTTEP – slide 16
    Financial Capability and Outlook Maintain Robust liquidity and cost competitiveness Strong Financial Capability Financial Outlook 2.3 billion USD Operating cash flow Average Sales Volume (KBOED) Q1 2017 FY 2017 4.0 billion USD…
  17. 2016 Year End Opportunity Day – PTTEP – slide 17
    Industry Overview 2016 Key Achievements Financial Performance Growth Outlook 17
  18. 2016 Year End Opportunity Day – PTTEP – slide 18
    Growth Driver: Development Projects in Pipeline Reinforced by more favorable industry outlook and funding capability /BBL Dubai Oil Prices Forecast MMTPA Global LNG Demand Projection 140 600 Operational 120 500 Under Construction…
  19. 2016 Year End Opportunity Day – PTTEP – slide 19
    Growth Pillars Well-prepared for sustainable future growth Focus Known area, acceptable risk and quick commercialization opportunity Exploration Seismic Activity: MOGE-3, Zawtika West Area, SK410B 2017/18 Drilling: Onshore…
  20. 2016 Year End Opportunity Day – PTTEP – slide 20
    Bongkot Concession Expiry PTTEP is well-positioned to continue as operator Path to re-tendering of expiring concessions PTTEP: Competitively positioned to continue as operator Experienced and reliable operated at average over…
  21. 2016 Year End Opportunity Day – PTTEP – slide 21
    Global Energy Outlook Well-positioned strategy to capture global energy trend 2016 2035 Strategic Alignment Total Demand for Fossil Fuel Oil & Gas 57% of global energy consumption 56% of global energy consumption REFOCUS…
  22. 2016 Year End Opportunity Day – PTTEP – slide 22
    Key Takeaways Strived through the downturn and ready to compete Best Balance sheet Focused Portfolio with Competitive Cost base Well positioned for and Capital revenue stability and strong margin future growth Management +90%…
  23. 2016 Year End Opportunity Day – PTTEP – slide 23
    Thank you and Q&A You can reach the Investor Relations team for more information and inquiry through the following channels: http://www.pttep.com IRpttep.com +66 2 537 4000 23
  24. 2016 Year End Opportunity Day – PTTEP – slide 24
    Supplementary information Historical Oil Prices 25 Thailand Updates and Economic Forecast 26-27 2016 Financial Results 28-29 Sustainable Development 30 Reserves and Resources 31 Key Project Highlights by Region 32-38 Project…
  25. 2016 Year End Opportunity Day – PTTEP – slide 25
    Oil Prices Recap for 2016 A year of roller coaster with high volatility Brent Dubai Min-Max Brent Analyst Consensus* 2016 Highlights US / Barrel 120 Oil Prices bottomed out in Q116, with 110 Dubai Crude reached its lowest at 23 100…
  26. 2016 Year End Opportunity Day – PTTEP – slide 26
    Thailand updates Stable gas outlook Thailands Natural Gas Supply by Source Thailands Natural Gas Consumption by Sector FY 2016 Domestic Myanmar LNG FY 2016 Electricity Industry GSP NGV FY 2015 Domestic Myanmar LNG FY 2015…
  27. 2016 Year End Opportunity Day – PTTEP – slide 27
    Thailand Economic Forecast Stable economic growth whilst weakening Thai Baht Thailands Economic Growth Thailands GDP Growth The Bank of Thailand expects the economy to expand 3.20% 3.20% 3.2% in 2017, mainly driven by The growth of…
  28. 2016 Year End Opportunity Day – PTTEP – slide 28
    Summary of 2016 Financial Results Strong core earnings as a result of successful cost reduction effort Unit : MMUSD Statement of Income 2016 2015* % YTD Q3 16 Q4 16 % QoQ Q4 15* % YoY Total Revenues 4,339 5,614 (23) 1,109 1,089 (2)…
  29. 2016 Year End Opportunity Day – PTTEP – slide 29
    Debt Maturity Profile Expect no debt maturity until 2018 1,400 1,275 1,200 1,000 USD Millions 800 600 490 406 413 400 349 200 - Note: Excludes Hybrid bonds Unit: USD Millions or equivalent after cross currency…
  30. 2016 Year End Opportunity Day – PTTEP – slide 30
    Sustainable development Pursue long-term growth with social and environmental wellness 2016 DJSI Listed Company PTTEP is selected for the DJSI World Oil and Gas FTSE4Good Emerging Index Upstream & Integrated Industry with the…
  31. 2016 Year End Opportunity Day – PTTEP – slide 31
    Reserves and Resources Maintaining reserve life with majority of reserves base in SEA 2016 by Geography Reserves / Domestic International MMBOE Resource Life* 5,000 6,000 4,864 5,039 5,000 37 Years 5,000 74% 4,000 1,099 695…
  32. 2016 Year End Opportunity Day – PTTEP – slide 32
    Diversified international portfolio Worldwide operations: 37 projects* in 10 countries Thailand Oil sands PTTEPs core production base 75% of total sales volume Key producing assets include Bongkot, Arthit, Contract 4 and S1…
  33. 2016 Year End Opportunity Day – PTTEP – slide 33
    Thailand Strong home base with legacy assets maintaining production plateau Bongkot (44.4% interest) Bongkots natural gas sales volume of 887 MMSCFD (2016) Average condensate sales volume was 27 KBPD in 2016 Bongkot South S1 S1…
  34. 2016 Year End Opportunity Day – PTTEP – slide 34
    Southeast Asia : Myanmar Significant contribution to growth Participating in three producing gas fields which supply gas to both Thailand and Myanmar: Yadana, Yetagun, Zawtika Myanmar Operate Zawtika project, brought online in…
  35. 2016 Year End Opportunity Day – PTTEP – slide 35
    Southeast Asia : Vietnam and Indonesia Reinforcing regional exposure through strategic partnerships Natuna Sea A Vietnam 16-1 Production / Ramp-up Projects Vietnam 16-1 (28.5% interest) Natuna Sea A (11.5% interest) Average…
  36. 2016 Year End Opportunity Day – PTTEP – slide 36
    East Africa : Mozambique Potential to become one of the worlds largest emerging LNG supply hubs Substantial recoverable resources of 70+ tcf with scalable offshore development of more than 6 LNG trains Key Milestones to Final…
  37. 2016 Year End Opportunity Day – PTTEP – slide 37
    America : Canada Oil Sands Flexibility to pursue long-term investment from the oil sands project Project Overview Mariana Oil Sands Project Operates 100% interest of the Thornbury, Hangingstone and Hangingstone South Leismer…
  38. 2016 Year End Opportunity Day – PTTEP – slide 38
    America : Brazil Deepwater Entry into high potential petroleum province at exploration phase Barreirinhas AP1 Farm-in 25% from BG Group in 2014 Operated by BG Group (75% interest) Four offshore exploration blocks: BAR-M-215,…
  39. 2016 Year End Opportunity Day – PTTEP – slide 39
    Project information 1/4 Production phase: Thailand and JDA Project Status* PTTEPs Partners 2016 Average Sales Volume ** 2017 Key Activities Share (as of 2016) Gas Oil and Other Production Phase Thailand and JDA 1 Arthit OP 80%…
  40. 2016 Year End Opportunity Day – PTTEP – slide 40
    Project information 2/4 Production phase: Overseas Project Status* PTTEPs Partners 2016 Average Sales Volume ** 2017 Key Activities Share (as of 2016) Gas Oil and Other Production Phase Overseas PetroVietnam 50% Crude: 4.4 k BPD…
  41. 2016 Year End Opportunity Day – PTTEP – slide 41
    Project information 3/4 Exploration phase Project Status* PTTEPs Partners 2017 Key Activities Share (as of 2016) Exploration Phase Thailand and JDA 24 G9/43 OP 100% Overseas MOECO 20% 25 Myanmar M3 OP 80% Assess resource potential…
  42. 2016 Year End Opportunity Day – PTTEP – slide 42
    Project information 4/4 Exploration phase Project Status* PTTEPs Partners 2017 Key Activities Share (as of 2016) Exploration Phase Overseas (Contd) Palang Sophon Offshore 10% 35 Myanmar MOGE 3 OP 75% MOECO 10% Acquire 2D and 3D…
  43. 2016 Year End Opportunity Day – PTTEP – slide 43
    Organization structure Ensuring transparency, integrity and good corporate governance Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management Committee…
  44. 2016 Year End Opportunity Day – PTTEP – slide 44
    Ratio & formula Ratio Formula Lifting Cost (/BOE) (Operating Exp. Transportation Cost Stock Variation Other expense not related to lifting) / Production Volume Cash Cost (/BOE) (Operating Exp. + Exploration Exp. + G&A + Royalties +…

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