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March 2018 Investor Presentation – PTTEP

PTTEP · Mar 30, 2018 · 47 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. March 2018 Investor Presentation – PTTEP – slide 1
    Investor Presentation March 2018 Back-up
  2. March 2018 Investor Presentation – PTTEP – slide 2
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  3. March 2018 Investor Presentation – 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 its…
  4. March 2018 Investor Presentation – PTTEP – slide 4
    A Firm Core for Accretive Growth Reflected in 2017s performance Operation Financials 299 KBOED Healthy margin and liquidity Sales volume as target 70% EBITDA Margin 29 /BOE 4.5Bn Cash on hand Competitive unit cost Diversified into…
  5. March 2018 Investor Presentation – PTTEP – slide 5
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  6. March 2018 Investor Presentation – PTTEP – slide 6
    Sales Volume & Unit Cost Achieved target sales volume with competitive cost Sales Volume and Price Unit Cost 400,000 40 38.88 BOED 322,167 319,521 /BOE 21,702 19,834 299,206 30.46 29.05 300,000 13,331 30 Rest of World 60,672…
  7. March 2018 Investor Presentation – PTTEP – slide 7
    Cash Flow Performance Solid cash flows and liquidity for future growth Cash Flow Performance Source & Use of Funds in 2017 MMUSD % MMUSD EBITDA Margin (RHS) 3,000 2,864 100 2,800 2,687 * 2,687 2,400 2,241 ** 2,308 90 2,000…
  8. March 2018 Investor Presentation – PTTEP – slide 8
    Financial Position Strengthened balance sheet with net cash position MMUSD Capital Structure D/E Ratio 25,000 1.00 20,000 19,642 18,891 19,220 0.80 5,309 4,673 4,796 15,000 0.60 3,005 2,832 2,907 10,000 0.40 0.27 0.25 0.25 5,000…
  9. March 2018 Investor Presentation – PTTEP – slide 9
    Dividends Assuring 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 4.25* 3.00 4.00 1.50 3.00 3.25 2.75 2.00 2.00 2.50 3.00 3.00…
  10. March 2018 Investor Presentation – PTTEP – slide 10
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  11. March 2018 Investor Presentation – PTTEP – slide 11
    A Firm Core Sustained by 3Rs Strategy RESET to optimize cost level and uphold competitiveness Ways Results Non-cash Cash Unit: US/BOE Cost reduction Maintain Optimizing Producing 43.45 over 30% competitive Projects 38.88 cost base…
  12. March 2018 Investor Presentation – PTTEP – slide 12
    A Firm Core Sustained by 3Rs Strategy REFOCUS for sustainable future growth Exploration LNG Value Chain Reinforce activities in prolific areas Join-hand with PTT to capture LNG demand growth in Asia 2018 Budgets 1st step in…
  13. March 2018 Investor Presentation – PTTEP – slide 13
    A Firm Core Sustained by 3Rs Strategy REFOCUS for sustainable future growth Strive to win Bongkot and Erawan bidding Tentative Timeline* Preliminary Bidding Conditions* PTTEP is well-positioned to bid for 2 PSCs: Bongkot and Erawan…
  14. March 2018 Investor Presentation – PTTEP – slide 14
    A Firm Core Sustained by 3Rs Strategy RENEW to adapt in response to changing industry landscape Enhancing Core Capability in Value through Exploration & Production Business Diversification ORGANIZATIONAL E&P-RELATED BUSINESS…
  15. March 2018 Investor Presentation – PTTEP – slide 15
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  16. March 2018 Investor Presentation – PTTEP – slide 16
    Sales Volume (excluding additional stakes in Bongkot) M&As and concession bidding remain key upside Unit : KBOED 300 299 302 299 283 276 239 Rest of World 200 Other SEA 100 Thailand & MTJDA 0 2017 2018 2019 2020 2021 2022…
  17. March 2018 Investor Presentation – PTTEP – slide 17
    Investment Plan (excluding additional stakes in Bongkot) Disciplined spending on core assets for future production growth Unit : MMUSD 5 Years (2018 2022) OPEX 6,569 3,272 3,158 CAPEX 8,980 3,103 3,047 3,000 2,969 TOTAL 15,549…
  18. March 2018 Investor Presentation – PTTEP – slide 18
    Financial Outlook Expect revenue growth and robust financial performance Q1 2018 FY 2018 Average Sales Volume* KBOED 300 302 Average Gas Price** USD/MMBTU 6.0 6.2 Unit Cost USD/BOE 30 30-31 EBITDA Margin % of sales volume…
  19. March 2018 Investor Presentation – PTTEP – slide 19
    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…
  20. March 2018 Investor Presentation – 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 Passion to Explore For a Sustainable Future
  21. March 2018 Investor Presentation – PTTEP – slide 21
    Supplementary information YE 2017 Financial Results 22-27 Safety and Sustainability 28-29 Thailand and Industry Updates 30-33 Reserves and Resources 34 Key Project Highlights by Region 35-42 Project Details 43-45…
  22. March 2018 Investor Presentation – PTTEP – slide 22
    Summary of 2017 Financial Results Strong core profits led by improved average selling price Unit : MMUSD Statement of Income 2017 2016 % YTD Q3 17 Q4 17 % QoQ Q4 16 % YoY Total Revenues 4,523 4,339 4% 1,134 1,271 12% 1,089 17% Sales…
  23. March 2018 Investor Presentation – PTTEP – slide 23
    PTTEP Sales Volume & Average Selling Price Achieved target sales volume by successful production uplift plan Sales Volume BOED 319,521 299,206 298,139 313,054 316,307 2017 300,000 13,331 19,834 15,072 14,745 14,966 Rest of World…
  24. March 2018 Investor Presentation – PTTEP – slide 24
    Operating Performance Upheld cost competitiveness and continual efficiency improvement Unit Cost /BOE 40 30.46 30.99 31.89 30 29.05 28.50 Cash Cost Unit Cost 20 15.86 14.39 13.94 12.67 13.42 10 - 2017 2016* Q3 17 Q4 17 Q4…
  25. March 2018 Investor Presentation – PTTEP – slide 25
    Financial Performance : Income Statement Delivered healthy EBITDA margin and core profits 2017 2016* Q3 17 Q4 17 Q4 16 Sales and Revenue from pipeline transportation (MMUSD) 4,359 4,274 1,089 1,224 1,054 EBITDA (MMUSD) 3,063 3,027…
  26. March 2018 Investor Presentation – PTTEP – slide 26
    Financial Performance : Balance Sheet Strengthened balance sheet with net cash position 2017 2016 Total Assets (MMUSD) 19,220 18,891 - Cash & cash equivalents* (MMUSD) 4,468 4,022 Total Liabilities (MMUSD) 7,703 7,505 - Interest…
  27. March 2018 Investor Presentation – PTTEP – slide 27
    Debt Maturity Profile 1,400 1,275 1,200 1,000 USD Millions 800 600 490 406 413 400 349 200 - 2018 2019 2020 2021 2022-2028 2029 2030-2041 2042 Note: Excludes Hybrid bonds Unit: USD Millions or equivalent after…
  28. March 2018 Investor Presentation – PTTEP – slide 28
    Priority on Safety and Sustainability Top quartile safety performance; Fourth consecutive year as a DJSI listed company Safety Sustainability Maintain high safety standard Affirm our path to sustainable development of incidents per…
  29. March 2018 Investor Presentation – PTTEP – slide 29
    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…
  30. March 2018 Investor Presentation – PTTEP – slide 30
    Thailand Updates Domestic gas volume suppressed by LNG import; Uncertainty on Thai Baht remains Thailand Energy Overview Exchange Rate Movement (THB/USD) Natural Gas Supply MMSCFD 37 FY 2015 FY 2016 FY 2017 Domestic Myanmar…
  31. March 2018 Investor Presentation – PTTEP – slide 31
    Thailands Energy Value Chain PTTEP contributes almost 1/3 of Thailands petroleum production Thailands Oil and Gas Demand Thailand Petroleum Production 2017 Midstream % by Petroleum Type and Area Gas: operated by PTT Crude Oil &…
  32. March 2018 Investor Presentation – PTTEP – slide 32
    Thailands Oil and Gas Balance January December 2017 Oil Balance Natural Gas Balance Maintains stability supply through adequate refining capacity Main driver of the Thailand economy Import (81%) Indigenous (19%) Gulf of Thailand…
  33. March 2018 Investor Presentation – PTTEP – slide 33
    LNG Updates Abundant supply with an expectation to rebalance by 2023 Global LNG Situation Global LNG demand VS supply (2000-2035) LNG demand growth (base year 2016) 700 mmt mmt New supply required by Global 60 Established Asian…
  34. March 2018 Investor Presentation – PTTEP – slide 34
    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…
  35. March 2018 Investor Presentation – PTTEP – slide 35
    Diversified international portfolio Worldwide operations: 36 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…
  36. March 2018 Investor Presentation – PTTEP – slide 36
    Thailand Strong home base with legacy assets maintaining production plateau Bongkot (44.4445% interest) Bongkots natural gas sales volume of 856 MMSCFD in 2017 Average condensate sales volume was 26 KBPD in 2017 Bongkot South S1 S1…
  37. March 2018 Investor Presentation – PTTEP – slide 37
    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…
  38. March 2018 Investor Presentation – PTTEP – slide 38
    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…
  39. March 2018 Investor Presentation – PTTEP – slide 39
    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…
  40. March 2018 Investor Presentation – PTTEP – slide 40
    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…
  41. March 2018 Investor Presentation – PTTEP – slide 41
    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,…
  42. March 2018 Investor Presentation – PTTEP – slide 42
    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…
  43. March 2018 Investor Presentation – PTTEP – slide 43
    Project information 1/3 Production phase: Thailand and JDA Project Status* PTTEPs Partners 2017 Average Sales Volume ** 2018 Key Activities Share (as of 2017) Gas Oil and Other Production Phase Thailand and JDA Chevron 16% Ensure…
  44. March 2018 Investor Presentation – PTTEP – slide 44
    Project information 2/3 Production phase: Overseas Project Status* PTTEPs Partners 2017 Average Sales Volume ** 2018 Key Activities Share (as of 2017) Gas Oil and Other Production Phase Overseas PetroVietnam 50% Crude: 4.2 k BPD…
  45. March 2018 Investor Presentation – PTTEP – slide 45
    Project information 3/3 Exploration phase Project Status* PTTEPs Partners 2018 Key Activities Share (as of 2017) Exploration Phase Thailand and JDA 24 G9/43 OP 100% Overseas MOECO 20% 25 Myanmar M3 OP 80% Negotiate the…
  46. March 2018 Investor Presentation – PTTEP – slide 46
    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…
  47. March 2018 Investor Presentation – PTTEP – slide 47
    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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