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Thailand Focus 2017 – PTTEP

PTTEP · Aug 30, 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. Thailand Focus 2017 – PTTEP – slide 1
    PTT Exploration and Production Public Company Limited Thailand Focus 2017 Bangkok 30 August 2017
  2. Thailand Focus 2017 – PTTEP – slide 2
    Company Overview Financial Performance Operational Updates Investment Plan & Outlook
  3. Thailand Focus 2017 – 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. Thailand Focus 2017 – PTTEP – slide 4
    Company Overview Financial Performance Operational Updates Investment Plan & Outlook
  5. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – PTTEP – slide 10
    Company Overview Financial Performance Operational Updates Investment Plan & Outlook
  11. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – PTTEP – slide 15
    Company Overview Financial Performance Operational Updates Investment Plan & Outlook
  16. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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. Thailand Focus 2017 – 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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