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1Q 2018 Financial Results – PTTEP

PTTEP · May 11, 2018 · 35 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. 1Q 2018 Financial Results – PTTEP – slide 1
    Q1 2018 Financial Results and Operational Update Analyst Meeting 11 May 2018 Back-up
  2. 1Q 2018 Financial Results – PTTEP – slide 2
    Industry Highlights Strategy Update Khun Montri Rawanchaikul EVP, Strategy and Financial Performance Business Development Group
  3. 1Q 2018 Financial Results – PTTEP – slide 3
    Oil Prices Oil prices rally on signs of market rebalancing US / Barrel Brent Dubai Min-Max Brent Analyst Consensus* 80 70 60 Analyst Consensus * 50 40 30 20 1H actual 2H actual 1H actual 2H actual 2018 Q1 actual 2018 consensus…
  4. 1Q 2018 Financial Results – PTTEP – slide 4
    LNG Updates LNG market remains oversupplied, but expected to rebalance from 2023 onwards Key Projects with expected start-up in 2018 US: Cove Point Export T1 Russia: Yamal LNG T2 5.25 mmtpa Start-Up in Q1 5.5 mmtpa Start-Up in Q4…
  5. 1Q 2018 Financial Results – PTTEP – slide 5
    Thailand Updates Domestic gas volume suppressed by LNG import, Finalized Energy Reform plan Thailand Energy Overview Natural Gas Supply Natural Gas Consumption o Slight decline in domestic production MMSCFD MMSCFD and Myanmar piped…
  6. 1Q 2018 Financial Results – PTTEP – slide 6
    Industry Highlights Strategy Update Khun Somporn Vongvuthipornchai Chief Executive Officer Financial Performance
  7. 1Q 2018 Financial Results – PTTEP – slide 7
    1st Priority on the Bidding of Expiring Concessions Strive to win Bongkot and Erawan Bidding Process and Timeline Bidding Requirement May 2018 Bidding Obligations Pre-Qualification Process Production: A minimum production of 800 MMSCFD…
  8. 1Q 2018 Financial Results – PTTEP – slide 8
    Push Forward Other Growth Strategies Enhance reserves and production through concrete plans Geographical: SEA, Middle East and other potential areas Target: Focus on producing or near-producing Strike Size: 500 1,000 MMUSD M&A…
  9. 1Q 2018 Financial Results – PTTEP – slide 9
    Unlocking the Exploration Potentials Expanded portfolio in high prolific areas: Malaysia and Mexico Sarawak Basin, Malaysia PTTEPs Block: SK410B (42.5%), SK417 (80%) and SK438 (80%) with operatorship Location: Sarawak Basin, Malaysia…
  10. 1Q 2018 Financial Results – PTTEP – slide 10
    Industry Highlights Strategy Update Khun Pannalin Mahawongtikul EVP, Finance and Accounting Group Financial Performance
  11. 1Q 2018 Financial Results – PTTEP – slide 11
    Sales Volume & Unit Cost Higher selling price with competitive cost Sales Volume and Price Unit Cost 400,000 BOED /BOE 30.99 313,054 293,099 304,108 29.20 300,000 14,745 15,512 30 27.54 7,884 Rest of World 52,568 48,929 52,600…
  12. 1Q 2018 Financial Results – PTTEP – slide 12
    Cash Flow Performance Self funding driven by robust cash flow generation Cash Flow Performance Source & Use of Funds in Q1 2018 MMUSD % MMUSD EBITDA Margin (RHS) 3,000 100 1,200 2,687 1,044 * 2,308 90 2,000 800 80 74 71 70…
  13. 1Q 2018 Financial Results – PTTEP – slide 13
    Financial Position Healthy balance sheet with net cash position MMUSD Capital Structure D/E Ratio 25,000 1.00 20,000 18,891 19,220 19,745 0.80 4,673 4,796 4,950 15,000 0.60 2,832 2,907 2,866 10,000 0.40 5,000 0.25 0.25 0.24 0.20…
  14. 1Q 2018 Financial Results – PTTEP – slide 14
    Financial Outlook Expect to deliver strong core financial performance Q2 2018 FY 2018 Average Sales Volume* KBOED 297 300 Average Gas Price** USD/MMBTU 6.3 6.3 Unit Cost USD/BOE 31 30-31 EBITDA Margin % of sales volume…
  15. 1Q 2018 Financial Results – PTTEP – slide 15
    Key Takeaways Maximizing value through solid growth platforms Concrete plans for reserve accretion Strive to win Bongkot and Erawan bidding Series of M&A deals execution Accelerate FID of key pre-development projects Exploration…
  16. 1Q 2018 Financial Results – PTTEP – slide 16
    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 Please vote PTTEP for IR Magazine Awards
  17. 1Q 2018 Financial Results – PTTEP – slide 17
    Supplementary information Q1 2018 Financial Results 18-19 Sustainable Development 20-21 Reserves and Resources 22 Key Project Highlights by Region 23-30 Project Details 31-33 Organization Structure 34 Ratio and Formula…
  18. 1Q 2018 Financial Results – PTTEP – slide 18
    Summary of Q1 2018 Financial Results Solid net income supported by improved selling price and cost management Unit : MMUSD Statement of Income Q4 17 Q1 18 % QoQ Q1 17 % YoY Total Revenues 1,271 1,240 (2%) 1,092 14% Sales 1,202…
  19. 1Q 2018 Financial Results – PTTEP – slide 19
    Debt Maturity Profile 800 700 700 600 USD Millions 500 490 413 400 349 323 300 200 100 - 2018 2019 2020 2021 2022-2028 2029 2030-2041 2042 Note: Excludes Hybrid bonds Unit: USD Millions or equivalent after cross…
  20. 1Q 2018 Financial Results – PTTEP – slide 20
    Priority on Safety and Sustainability Deliver high safety performance and ensure our commitment to all stakeholders Safety Sustainability Maintain high safety standard Create a long-term value for society of incidents per million…
  21. 1Q 2018 Financial Results – PTTEP – slide 21
    Sustainable development Pursue long-term growth with social and environmental wellness 2017 DJSI Listed Company FTSE4Good Emerging Index 2017 PTTEP has been selected as a member of the 2017 PTTEP becomes a constituent of the…
  22. 1Q 2018 Financial Results – PTTEP – slide 22
    Reserves and Resources Maintained reserve life with majority of reserves base in SEA 2017 by Geography Reserves / Domestic International MMBOE Resource Life* 4,855 6,000 5,000 5,093 5,000 4,855 38 Years 74% 4,000 1,031 631…
  23. 1Q 2018 Financial Results – PTTEP – slide 23
    Diversified international portfolio Worldwide operations: 38 projects* in 10 countries Thailand Oil sands PTTEPs core production base 80% of total sales volume Key producing assets include Bongkot, Arthit, Contract 4 and S1…
  24. 1Q 2018 Financial Results – PTTEP – slide 24
    Thailand Strong home base with legacy assets maintaining production plateau Bongkot (44.4445% interest) Bongkots natural gas sales volume of 841 MMSCFD in 3M2018. Average condensate sales volume was 27 KBPD in 3M2018. Bongkot South…
  25. 1Q 2018 Financial Results – PTTEP – slide 25
    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 March…
  26. 1Q 2018 Financial Results – PTTEP – slide 26
    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…
  27. 1Q 2018 Financial Results – PTTEP – slide 27
    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…
  28. 1Q 2018 Financial Results – PTTEP – slide 28
    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 South Leismer (THSL) areas…
  29. 1Q 2018 Financial Results – PTTEP – slide 29
    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,…
  30. 1Q 2018 Financial Results – PTTEP – slide 30
    LNG Value Chain Investment : MLNG Train 9 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 look…
  31. 1Q 2018 Financial Results – PTTEP – slide 31
    Project information 1/3 Production phase: Thailand and JDA Project Status* PTTEPs Partners 3M2018 Average Sales Volume ** 2018 Key Activities Share (as of Q1 2018) Gas Oil and Other Production Phase Thailand and JDA Chevron 16%…
  32. 1Q 2018 Financial Results – PTTEP – slide 32
    Project information 2/3 Production phase: Overseas Project Status* PTTEPs Partners 3M2018 Average Sales Volume ** 2018 Key Activities Share (as of Q1 2018) Gas Oil and Other Production Phase Overseas PetroVietnam 50% Crude: 2.8 k BPD…
  33. 1Q 2018 Financial Results – PTTEP – slide 33
    Project information 3/3 Exploration phase Project Status* PTTEPs Partners 2018 Key Activities Share (as of Q1 2018) Exploration Phase Thailand and JDA 24 G9/43 OP 100% Overseas MOECO 20% 25 Myanmar M3 OP 80% Negotiate the…
  34. 1Q 2018 Financial Results – PTTEP – slide 34
    Organization structure Ensuring transparency, integrity and good corporate governance Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management Committee CEO…
  35. 1Q 2018 Financial Results – PTTEP – slide 35
    Supplementary Index : Ratio & Formula Ratio Formula Lifting Cost (/BOE) (Operating Exp. Transportation Cost Stock Variation Other expenses not related to lifting) / Production Volume Cash Cost (/BOE) (Operating Exp. + Exploration Exp.…

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