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Asia Corporate Day 2017 London UK – PTTEP

PTTEP · Sep 5, 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. Asia Corporate Day 2017 London UK – PTTEP – slide 1
    PTT Exploration and Production Public Company Limited Asia Corporate Day 2017 London, United Kingdom 4-5 September 2017
  2. Asia Corporate Day 2017 London UK – PTTEP – slide 2
    Company Overview Financial Performance Operational Updates Investment Plan & Outlook
  3. Asia Corporate Day 2017 London UK – PTTEP – slide 3
    PTTEP: the E&P Flagship of PTT Group Plays a pivotal role in Thailands oil and gas production As PTTs Upstream Flagship Largest oil and gas producers in Thailand and Myanmar Government of Synergy with PTTs gas value chain through…
  4. Asia Corporate Day 2017 London UK – PTTEP – slide 4
    Company Overview Financial Performance Operational Updates Investment Plan & Outlook
  5. Asia Corporate Day 2017 London UK – 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 80 65 60 60 40 55 20 0 50 2014…
  6. Asia Corporate Day 2017 London UK – PTTEP – slide 6
    Sales Volume & Unit Cost Better unit cost and selling price despite lower sales volumes Sales Volume and Price Unit Cost 400,000 40 38.88 BOED 322,167 325,257 /BOE 319,521 292,709 30.46 300,000 21,702 19,834 23,780 30 29.42 28.29…
  7. Asia Corporate Day 2017 London UK – PTTEP – slide 7
    Cash Flow Performance Robust cash flow generation to support CAPEX and debt service Cash Flow Performance Source & Use of Funds in 6M 2017 MMUSD % MMUSD EBITDA Margin (RHS) 1,200 4,000 100 1,055 * 1,000 90 871 ** 3,000 2,864…
  8. Asia Corporate Day 2017 London UK – PTTEP – slide 8
    Financial Position Healthy balance sheet with low gearing MMUSD Capital Structure D/E Ratio 25,000 1.00 20,000 19,642 18,891 18,872 0.80 5,309 4,673 4,339 15,000 0.60 3,005 2,832 2,874 10,000 0.40 0.27 0.25 0.25 5,000 0.20…
  9. Asia Corporate Day 2017 London UK – PTTEP – slide 9
    Dividends Demonstrating our dividend commitment to shareholders Dividend Payment History (Policy : No Less Than 30% of Net Income) 1H 2H THB per share 6.00 6.00 4.50 3.00 4.00 1.50 3.00 3.25 2.00 2.00 2.50 3.00 3.00 1.00…
  10. Asia Corporate Day 2017 London UK – PTTEP – slide 10
    Company Overview Financial Performance Operational Updates Investment Plan & Outlook
  11. Asia Corporate Day 2017 London UK – PTTEP – slide 11
    Updates on 2017 Priorities (1/2) Expedite the execution with focus on adding reserves and production Sustain Production and Low Cost in Existing Projects Maximizing value and mitigating near-term downsides Sales Volume S1 project…
  12. Asia Corporate Day 2017 London UK – PTTEP – slide 12
    Updates on 2017 Priorities (2/2) Expedite the execution with focus on adding reserves and production Progress on Pre-development Projects Accelerating the FID for near-term reserves addition Mozambique Offshore LNG Algeria HBR Ubon…
  13. Asia Corporate Day 2017 London UK – PTTEP – slide 13
    LNG Value Chain Investment : MLNG Train 9 (1/2) First step into midstream LNG business in strategic area of focus MLNG Train 9 Overview 10% Investment in MLNG Train 9 by PTT Global LNG. Location Bintulu, Sarawak, Malaysia .continue to…
  14. Asia Corporate Day 2017 London UK – PTTEP – slide 14
    LNG Value Chain Investment : MLNG Train 9 (2/2) Investment structure and LNG process PTTEP PTT In vicinity of future upstream opportunities (through subsidiary 50% 50% Investment in MLNG Train 9 strengthened PTTEPs current…
  15. Asia Corporate Day 2017 London UK – PTTEP – slide 15
    Company Overview Financial Performance Operational Updates Investment Plan & Outlook
  16. Asia Corporate Day 2017 London UK – PTTEP – slide 16
    Sales Volume Guidance Focus area in Thailand and South East Asia Unit : KBOED 400 320 300 311 300 300 276 263 Rest of World Other SEA 200 Thailand & 100 MTJDA 0 2016 2017 2018 2019 2020 2021 Contract 4 (Ubon) Algeria HBR…
  17. Asia Corporate Day 2017 London UK – PTTEP – slide 17
    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…
  18. Asia Corporate Day 2017 London UK – PTTEP – slide 18
    Financial Capability and Outlook Expect to maintain strong financial performance Strong Financial Capability in 2016 Financial Outlook 2.3 billion USD Operating cash flow Average Sales Volume (KBOED) Q3 2017 FY 2017 4.0…
  19. Asia Corporate Day 2017 London UK – PTTEP – slide 19
    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%…
  20. Asia Corporate Day 2017 London UK – PTTEP – slide 20
    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
  21. Asia Corporate Day 2017 London UK – PTTEP – slide 21
    Supplementary information Detailed Financial Results 22-24 Cost Management & Peers Benchmarking 25-26 Safety and Sustainability 27-28 Reserves and Resources 29 Thailand Updates 30-31 Key Project Highlights by Region 32-38…
  22. Asia Corporate Day 2017 London UK – PTTEP – slide 22
    Summary of Q2 2017 Financial Results Positive core earning supported by stable sales price Unit : MMUSD Statement of Income Q1 17 Q2 17 % QoQ Q2 16 * % YoY 6M 17 6M 16 * % YTD Total Revenues 1,092 1,032 (5) 1,102 (6) 2,121 2,187 (3)…
  23. Asia Corporate Day 2017 London UK – PTTEP – slide 23
    Financial Performance Survived through the downturn and ready for future growth Q1 17 Q2 17 Q2 16* 6M 17 6M 16* Sales Revenue ** (MMUSD) 1,053 993 1,078 2,046 2,139 EBITDA (MMUSD) 776 685 778 1,461 1,567 Net Income (MMUSD) 349 220…
  24. Asia Corporate Day 2017 London UK – PTTEP – slide 24
    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…
  25. Asia Corporate Day 2017 London UK – PTTEP – slide 25
    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…
  26. Asia Corporate Day 2017 London UK – PTTEP – slide 26
    Peers Performance Comparison Beat the industry average Deliver better performance % EBITDA Margin % Total Return Rate 100% 85 80% 45 60% 5 40% (35) 20% 0% (75) 2012 2013 2014 2015 2016 -20% 2012 2013 2014 2015 2016 with…
  27. Asia Corporate Day 2017 London UK – PTTEP – slide 27
    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…
  28. Asia Corporate Day 2017 London UK – PTTEP – slide 28
    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…
  29. Asia Corporate Day 2017 London UK – PTTEP – slide 29
    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…
  30. Asia Corporate Day 2017 London UK – PTTEP – slide 30
    Thailand Updates : Economic Economic growth with uncertainty on Thai Baht Thailands Natural Gas Supply by Source Thailands Natural Gas Consumption by Sector 5M 2017 Domestic Myanmar LNG 5M 2017 Electricity Industry GSP NGV FY 2016…
  31. Asia Corporate Day 2017 London UK – PTTEP – slide 31
    Thailand Updates : Bongkot Concession Expiry PTTEP is well-positioned to continue as operator Path to re-tendering of expiring concessions Associated Laws 5 Ministerial Regulations - Prescribing the Production Sharing Contract Form…
  32. Asia Corporate Day 2017 London UK – PTTEP – slide 32
    Diversified international portfolio Worldwide operations: 37 projects* in 10 countries Thailand Oil sands PTTEPs core production base 77% of total sales volume Key producing assets include Bongkot, Arthit, Contract 4 and S1…
  33. Asia Corporate Day 2017 London UK – PTTEP – slide 33
    Thailand Strong home base with legacy assets maintaining production plateau Bongkot (44.4445% interest) Bongkots natural gas sales volume of 835 MMSCFD in 1H 2017 Average condensate sales volume was 26 KBPD in 1H 2017 Bongkot South…
  34. Asia Corporate Day 2017 London UK – 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. Asia Corporate Day 2017 London UK – 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. Asia Corporate Day 2017 London UK – 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. Asia Corporate Day 2017 London UK – 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. Asia Corporate Day 2017 London UK – 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 Shell Brasil (65% interest) Four offshore exploration blocks: BAR-M-215,…
  39. Asia Corporate Day 2017 London UK – PTTEP – slide 39
    Project information 1/4 Production phase: Thailand and JDA Project Status* PTTEPs Partners 1H 2017 Average Sales Volume ** 2017 Key Activities Share (as of Q2 2017) Gas Oil and Other Production Phase Thailand and JDA 1 Arthit OP…
  40. Asia Corporate Day 2017 London UK – PTTEP – slide 40
    Project information 2/4 Production phase: Overseas Project Status* PTTEPs Partners 1H 2017 Average Sales Volume ** 2017 Key Activities Share (as of Q2 2017) Gas Oil and Other Production Phase Overseas PetroVietnam 50% Crude: 3.4 k…
  41. Asia Corporate Day 2017 London UK – PTTEP – slide 41
    Project information 3/4 Exploration phase Project Status* PTTEPs Partners 2017 Key Activities Share (as of Q2 2017) Exploration Phase Thailand and JDA 24 G9/43 OP 100% Overseas MOECO 20% 25 Myanmar M3 OP 80% Assess resource…
  42. Asia Corporate Day 2017 London UK – PTTEP – slide 42
    Project information 4/4 Exploration phase Project Status* PTTEPs Partners 2017 Key Activities Share (as of Q2 2017) Exploration Phase Overseas (Contd) Palang Sophon Offshore 10% 35 Myanmar MOGE 3 OP 75% MOECO 10% Acquire 2D and 3D…
  43. Asia Corporate Day 2017 London UK – 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. Asia Corporate Day 2017 London UK – PTTEP – slide 44
    Ratio and 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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