Content 1 A Snapshot of PEMEX Upstream Midstream & Downstream Overall Financial Performance Business Outlook 1
O&G: The Industry Moving the World According to the IEA, by 2040, crude oil demand is expected to grow 6% up to 103 MMbd, while natural gas consumption increases by 50% Btoe World energy 10.0 9.4 consumption 2015 100% = 9.4 Btoe1…
PEMEX: The Most Important Company in Mexico 8th Crude oil producer1 6 Refineries in Mexico and one in the U.S.A. Main producer of oil, gas and 9 Gas Processing Complexes refined products in Mexico 2 Petrochemical Complexes 16th…
PEMEXs Reserves1 PEMEX holds 95% of Mexicos hydrocarbon reserves MMMboe (billion barrels of oil equivalent) Prospective Reserves Resources2 Oil and Gas Basin Gas 1P 2P 3P Non Conv. (90%) (50%) (10%) Conv. Southeastern 7.2 11.1…
2017 Achievements Trion farm-out with BHP Billiton Consortium formed by PEMEX, Chevron and Inpex was awarded Block 3 North in deep waters PEMEX was awarded two blocks in shallow waters through consortia with DEA and Ecopetrol…
Key Highlights as of September 2017 Average production platform in line with the annual target of 1,944 Mbd Uninterrupted fuel supply throughout the country despite hurricanes and earthquakes Accumulated net result increased by…
Content A Snapshot of PEMEX 2 Upstream Midstream & Downstream Overall Financial Performance Business Outlook 7
Upstream: Current Status and Challenges PEMEX continues to be a main player in the O&G industry The challenge has been replacing Cantarell to stabilize and eventually increase production Mbd Crude Oil Production MXN Bn 3,500 350…
Industry Cost Leader Exploitation strategies focused on shallow waters have allowed PEMEX to maintain very competitive production costs, as compared to most of its peers Lower production costs provide greater flexibility, especially…
Upstream: New Production Frontiers Underinvestment and limited access to know-how has restricted intensive exploitation of new complex frontiers Deepwater Infrastructure1 Shale Potential2 1 Source: National Geographic 2 Source:…
Upstream: Business Plan With profitability as its ultimate goal, the Business Plan contemplates increased production and investment through different business schemes such as JVs and farm-outs to maintain and gradually increase the…
Upstream: Farm-outs at a glance 7 clusters Farm-Out Trion Crdenas-Mora Ogarrio Nobilis-Maximino Ayn-Batsil 7 clusters DEA Deutsche BHP Billiton Cheiron Holdings Winner Erdoel AG Will be part of a new bidding process…
Upstream: Recent Developments Trion & Block 3 Trion Perdido Fold Belt Block 3 PEMEXs Assignments Trin Farm-Out Round 1.4 Deep Waters Great White Oil and Gas Field 28 3D Seismic Km 179 Km Matamoros 1 Maximino Block 3 North…
Upstream: Upcoming Developments Seven Clusters Reserves (MMboe) Area Cluster Oil Type (Km2) 1P 2P 3P Jusp 26 37 114 Light 450 Bedel-Gasifero 90 111 119 Medium 1,165 Cinco Presidentes 29 40 41 Light 167 Giraldas-Sunuapa 69 71 71…
PEMEX discovered the largest onshore reservoir in 15 years: Ixachi-1 Result of great exploration efforts and investments over the last 30 years Original volume of 1,500 MMboe 3P Reserves of approximately 350 MMboe Wet gas &…
Content A Snapshot of PEMEX Upstream 3 Midstream & Downstream Overall Financial Performance Business Outlook 17
Midstream: Investment Opportunities Further gasoline storage capacity and pipelines are required in Mexico. The U.S. has 27 times more infrastructure to supply fuel and 45 times more storage terminals than Mexico Gasoline Storage Days…
Downstream: Current Status and Challenges Infrastructure1 Capacity 6 Refineries in Mexico 1,942 Mbpd2 and one in U.S.A. 9 Gas Processing 5,912 MMcfd3 Centers 2 Petrochemical Complexes 1,694 Tpa4 Main causes for…
Midstream & Downstream: Business Plan Underinvestment and reduced access to know-how has limited intensive exploitation of new complex frontiers to stabilize and increase production PEMEX Industrial Transformation PEMEX Logistics…
Midstream & Downstream: Upcoming Developments The Mexican fuels market is moving towards an open, competitive and market-driven price structure; all the country has liberalized fuel prices since November 30, 2017 Open Season: Pemex…
Content A Snapshot of PEMEX Upstream Midstream & Downstream 4 Overall Financial Performance Business Outlook 22
Financial Performance Operating income as of the third quarter of 2017 averaged USD 3,163 million Debts maturity profile was extended to 7.5 years Operating Income 20,000 USD million 10,000 0 -10,000 -20,000 1Q12 3Q12…
PEMEX Recorded a Positive Net Result from January to September 2017 Accumulated positive net result as of September 30, 2017 for the first time since 2012, when the price of the Mexican Crude Oil Mix was 2.3 times higher Net Result…
Net Indebtedness Trend Net indebtedness for 2017 was 250 240 used to cover the financial 223 deficit. The objective for 2018 is 195 to limit net indebtedness to 200 91 the financial deficit, in line with Billion Pesos 48 138…
PEMEXs 2017 Financing Activities February 2017 EUR 4.25 billion in three tranches: EUR 1.75 billion at 2.50% due in August 2021 EUR 1.25 billion at 3.85% due in February 2024 EUR 1.25 billion at 4.98% due in February 2028 July 2017…
Diversified Debt Structure PEMEXs portfolio strategy has prioritized the development of new sources of financing to diversify its investor base and currencies To reduce external impacts, the company has chosen a hedging strategy that…
Credit Rating Agencies recognize PEMEXs strategic importance for Mexico 2017 PEMEX annual rating revisions highlight: Expectation of Close linkage to improved Mexican Key energy Stable finances profitability Government & supplier…
Markets respond positively to PEMEXs strategy PEMEXs efforts and business strategy have yielded tangible results, as shown in the spread between PEMEXs 10Y benchmark and U.S. Treasuries Spread PEMEX vs US Treasury 10Y 450 (basis…
Final Remarks PEMEX has tackled short-term challenges with determination and today has stable finances Budget adjustment Strengthening of financial balance Renewed access to financial markets and active debt management Primary surplus…
Content A Snapshot of PEMEX Upstream Midstream & Downstream Overall Financial Performance 5 Business Outlook 31
Financial Outlook: Scenarios with Realistic Premises 2017 marks an inflection point: Primary Surplus (first time since 2012): MXN 8.4 billion Attainable Production Platform: 1.944 MMbd Conservative Price Projection: USD 42 per barrel…
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