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Six Months Ended – Japan Petroleum Exploration Co. Ltd.

Japan Petroleum Exploration Co. Ltd. · Nov 13, 2017 · 38 slides

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Slides

  1. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 1
    Note: The following report is an English translation of the Japanese-language original. Presentation Meeting of Consolidated Financial Results for the Six Months Ended September 30, 2017 November 13 , 2017 Japan Petroleum…
  2. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 2
    Contents . Business Overview President Hideichi Okada . Consolidated Financial Results for the Six Months Ended September 30, 2017 Managing Executive Officer Michiro Yamashita . Revised Full Year Forecasts for FY3/18 Managing…
  3. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 3
    . Business Overview President Hideichi Okada 4
  4. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 4
    Crude Oil Price US/bbl] 100 110 120 30 40 50 60 70 80 90 2014-09 2014-10 2014-11 2014-12 2015-01 2015-02 2015-03 2015-04 2015-05 2015-06 2015-07 2015-08 2015-09 2015-10 2015-11 2015-12 2016-01…
  5. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 5
    Actual Results for 2Q and Forecasts for FY3/18 Highlight FY3/17 FY3/18 Change Full (f) Full (f) [Billion JP] Previous Revised 2Q (a) Full (a) 2Q (a) forecasts forecasts 2Q Full Full (August 8, (November - - - 2017) 10, 2017) *…
  6. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 6
    Long-Term Business Vision and Medium-Term Business Plan (2015-) Transformation to an Integrated Energy Company with a Focus on Oil and Gas E&P Regarding our business as the tree, E&P will be root and trunk and the JAPEX group is…
  7. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 7
    Outlook of Business Environment Assumptions of Oil Price and Exchange Rate Although assuming a gentle recovery in the market, range of higher oil price is assumed to be limited (US/bbl) 120 WTI JCC 100 Assumptions as of 2015…
  8. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 8
    FY3/18 Overview of Key Projects in Progress Highlights E&P business Domestic Natural Gas Supply Business Hokkaido: Yufutsu Oil and Gas Field The Soma LNG Terminal Investment decision on commencement of oil development of a Under…
  9. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 9
    Commencement of Oil Development of a Shallow Reservoir of Yufutsu Oil and Gas Field Investment decision of commencement of oil development of a shallow reservoir (June 2017) Decision to commence oil development of a shallow reservoir…
  10. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 10
    E&P Business Current status of Canada Shale Gas Development and Production Project Shale Gas Development and Production Project Pacific NorthWest LNG Project Production & sales Decided not to proceed Ongoing shale gas production and…
  11. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 11
    Canada Oil Sands Project Operator Skills and Experiences for Overseas Business JACOS Japan Canada Oil Sands Limited Long experience to the oil sands business in Canada since 1970s Pioneer of producing bitumen using SAGD (steam…
  12. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 12
    Canada Oil Sands Project Overview of Business the Hangingstone Demonstration area the Hangingstone Joint Venture area Decision not to re-start production using SAGD process Commencement of production operations using SAGD process…
  13. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 13
    Canada Oil Sands Project Commencement of Production Commencement of production in August 2017 Diluted to heavy oil equivalency and transported via pipeline for sales December 2012 Final Investment Decision Sufficient to ensure…
  14. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 14
    Progress of Soma Project Soma LNG Terminal, Fukushima Natural Gas Power Plant Progress of Soma Project July 2017 Started work at the Soma District Office Building October 2017 Commencement of construction on the Fukushima Natural Gas…
  15. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 15
    . Consolidated Financial Results for the Six Months Ended September 30, 2017 Managing Executive Officer Michiro Yamashita 16
  16. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 16
    Actual results Actual Sales of Natural Gas in 2Q FY3/18 ( year-on-year ) Sales volume : Million M3 FY3/17 FY3/18 Change Net sales : Million JP 2Q (a) 2Q (a) Sales volume 845 833 -11 Natural gas Net sales 23,184 26,839 +3,654…
  17. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 17
    Actual results Actual Sales of Crude Oil in 2Q FY3/18 ( year-on-year ) FY3/17 FY3/18 Sales volume : Thousand KL Change Net sales : Million JP 2Q(a) 2Q(a) Sales volume 1,715 1,548 -167 Crude Oil Rising selling price Net sales 43,792…
  18. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 18
    Actual results Actual Results for 2Q FY3/18 ( year-on-year ) FY3/17 FY3/18 Main factors for change [ Million JP] Change Increase factor (+) / Decrease factor (-) 2Q (a) 2Q (a) Net sales 91,494 112,382 +20,887 Gross profit Gross…
  19. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 19
    . Revised Full Year Forecasts for FY3/18 Managing Executive Officer Michiro Yamashita 20
  20. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 20
    Revised forecasts Revised Forecasts for FY3/18 2017 2018 Full year [Assumptions] Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. Previous forecasts 54.63 50.00 50.00 50.00 51.27 JCC price US/bbl Revised forecasts 54.63 49.88…
  21. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 21
    Revised forecasts Revised Forecasts Natural Gas Sales for FY3/18 (vs Previous Forecasts) FY3/18 FY3/18 Change Sales volume : Million M3 Net sales : Million JP Previous forecasts Full (f) Revised forecasts Full (f) Full August 8,…
  22. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 22
    Revised forecasts Revised Forecasts Crude Oil Sales for FY3/18 (vs Previous Forecasts) FY3/18 FY3/18 Change Sales volume : Thousand KL Previous forecasts Revised forecasts Net sales : Million JP Full (f) August 8, Full (f) November 10,…
  23. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 23
    Revised forecasts Revised Forecasts for FY3/18 (vs Previous Forecasts) Previous forecasts Revised forecasts Main factors for change Increase factor (+) / Decrease factor (-) Million JP Full(f) Full(f) Change August 8, 2017 November…
  24. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 24
    Revised forecasts Revised Forecasts Natural Gas Sales for FY3/18 (year-on-year) FY3/17 FY3/18 Change Sales volume : Million M3 Net sales : Million JP Revised forecasts Full (f) Full (a) Full November 10, 2017 Sales volume 1,864…
  25. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 25
    Revised forecasts Revised Forecasts Crude Oil Sales for FY3/18 (year-on-year) FY3/17 FY3/18 Change Sales volume : Thousand KL Revised forecasts Net sales : Million JP Full (a) Full (f) November 10, Full 2017 Sales volume 2,762…
  26. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 26
    Revised forecasts Revised Forecasts for FY3/18 (year-on-year) FY3/17 FY3/18 Main factors for change Revised forecasts Increase factor(+) / Decrease factor (-) [Million JP] Full (f) Change Full (a) November 10, Gross profit 2017…
  27. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 27
    Revised forecasts Assumptions and Impact on Profits [3Q-4Q] FY3/17 FY3/18 Full(a) 1Q(a) 2Q(a) 3Q(f) 4Q(f) Full(f) JCC price US/bbl 45.60 54.63 49.88 50.00 50.00 51.25 Exchange rate JP/US 108.53 112.12 111.38 110.00 110.00…
  28. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 28
    Appendix E&P Business (1) Projects in Japan and Overseas Oil Sands Project (Production) Shale Gas U.K. North Sea Offshore Block Sakhalin-1 Project Development and (Planned to Development) (Production & Development) Production…
  29. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 29
    Appendix E&P Business (2) Domestic Activities Domestic exploration Operating 10 domestic oil and gas fields Domestic exploration (Geophysics, Exploration well) is not planned in FY3/18 Pursuing additional domestic E&P potential…
  30. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 30
    Appendix E&P Business (3) Canada Shale Gas Development and Production Project Upstream: Shale gas project Midstream: LNG project Calgary Lelu Island, Block / North Montney Area, British Columbia, Canada The Port of Prince Rupert,…
  31. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 31
    Appendix E&P Business (4) Canada Oil Sands Project Project Canada Oil Sands Co., Ltd. (CANOS) Company Operator Japan Canada Oil Sands Ltd. (JACOS) Calgary The Hangingstone Demonstration area FORT McMURRAY Area Not to re-start…
  32. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 32
    Appendix E&P Business (5) Iraq : Garraf Project Project Japex Garraf Ltd. company Interest 30 (cost share 40%) Operator PETRONAS Baghdad Field Garraf Oil Field In Production Garraf Oil Field Samawah 2013 2030 Nasiriyah…
  33. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 33
    Appendix E&P Business (6) Indonesia: Kangean Project Pagerungan Utara Oil Field West Kangean Gas Field Production suspended (Exploration) Jakarta Pagerungan Gas Field (Production) West Java Pipeline Java Island Sepanang Island…
  34. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 34
    Appendix E&P Business (7) Sakhalin-1 Project Sakhalin Oil and Gas Development Odoptu Project Co., Ltd. (SODECO) Company Equity-method affiliate Interest Sakhalin 1 Consortium SODECO Arkutun-Dagi JAPEX Exxon Neftegas Ltd.…
  35. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 35
    Appendix Domestic Natural Gas Supply Business (1) Construction of the Soma LNG Terminal Soma LNG Terminal Shinchi-Town, Fukushima Pref. (No.4 wharf area of Site Soma Port) One LNG Tank of Aboveground Style/PC type Capacity…
  36. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 36
    Appendix Domestic Natural Gas Supply Business (2) Natural Gas-Fired Power Generation Project The overview of Fukushima Natural Gas Power Plant Head Office Fukushima Gas Power Co., Ltd.* (Founded April 2015) Method Gas Turbine and Steam…
  37. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 37
    Appendix Environment and Innovative Technology Business Geothermal Power, Methane Hydrate, CCS, Solar Power Geothermal Power CCS Mt. Musa area Shibetsu Town Tomakomai City Mt. Furebetsu south area Kushiro City) Photo…
  38. Six Months Ended – Japan Petroleum Exploration Co. Ltd. – slide 38
    Abbreviation BOE(/D) Barrels of Oil Equivalent (per Day) CCS Carbon dioxide Capture and Storage CIF Cost, Insurance and Freight COP Conference Of the Parties CSR Corporate Social Responsibility E&P Exploration and Production FID…

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