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May 2018 Non Deal Roadshow Presentation – PTTEP

PTTEP · Jun 21, 2018 · 46 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. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 1
    Non Deal Roadshow 21 -22 May 2018 Tokyo, Japan Back-up
  2. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 2
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  3. May 2018 Non Deal Roadshow 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. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 4
    A Firm Core for Accretive Growth Reflected in Q1 2018 performance Operation Financials 293 KBOED Healthy margin and liquidity On-track sales volume target 74% EBITDA Margin 29.20 /BOE 5.1Bn Cash on hand Competitive unit cost…
  5. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 5
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  6. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 6
    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…
  7. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 7
    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…
  8. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 8
    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…
  9. May 2018 Non Deal Roadshow 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. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 10
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  11. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 11
    RESET to Uphold Competitiveness Achieved significant cost reduction and continue to improve efficiency Ways Results Non-cash Cash Unit: US/BOE Cost reduction Maintain Optimizing Producing 43.45 over 30% competitive Projects 38.88…
  12. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 12
    Push Forward REFOCUS Growth Strategies Concrete plans to boost reserves and production PTTEP is well-positioned to bid for Bongkot and Erawan Deep subsurface understanding with more than 20yrs operatorship experience Focus Ability to…
  13. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 13
    Bidding of Expiring Concessions Strive to win Bongkot and Erawan Bidding Process and Timeline Bidding Requirements May 2018 Bidding Obligations Pre-Qualification Process Production: A minimum production of 800 MMSCFD for G1/61…
  14. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 14
    RENEW in Response to Changing Industry Landscape Strengthen core competency and business diversification Enhancing Core Capability in Value through Exploration & Production Business Diversification ORGANIZATIONAL E&P-RELATED…
  15. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 15
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  16. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 16
    Sales Volume (excluding additional stakes in Bongkot) M&As and concession bidding remain key upside Unit : KBOED 300 299 300 299 283 276 239 Rest of World 200 Other SEA 100 Thailand & MTJDA 0 2017 2018 2019 2020 2021 2022…
  17. May 2018 Non Deal Roadshow 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. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 18
    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…
  19. May 2018 Non Deal Roadshow 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. May 2018 Non Deal Roadshow 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 Please vote PTTEP for IR Magazine Awards…
  21. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 21
    Supplementary information Q1 2018 Financial Results 22-25 Safety and Sustainability 26-27 Thailand and LNG Updates 28-31 Reserves and Resources 32 Key Project Highlights by Region 33-41 Project Details 42-44 Organization…
  22. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 22
    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…
  23. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 23
    Financial Performance : Income Statement Strong core earnings and EBITDA margin Q4 17 Q1 18 Q1 17 Sales and Revenue from Pipeline Transportation (MMUSD) 1,224 1,184 1,053 EBITDA (MMUSD) 825 879 776 Net Income (MMUSD) 289 423 349…
  24. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 24
    Financial Performance : Balance Sheet Healthy balance sheet with net cash position YE 17 Q1 18 Total Assets (MMUSD) 19,220 19,745 - Cash & cash equivalents* (MMUSD) 4,468 5,095 Total Liabilities (MMUSD) 7,703 7,816 - Interest…
  25. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 25
    Debt Maturity Profile (as of end of April 2018) 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…
  26. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 26
    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…
  27. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 27
    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 PTTEP becomes a constituent of the FTSE4Good the…
  28. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 28
    Thailand Updates Domestic gas volume suppressed by LNG import; More clarity on Energy Reform Thailand Energy Overview Natural Gas Supply Natural Gas Consumption o Slight decline in domestic production MMSCFD MMSCFD and Myanmar piped…
  29. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 29
    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 &…
  30. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 30
    Thailands Oil and Gas Balance January March 2018 Oil Balance Natural Gas Balance Maintains stability supply through adequate refining capacity Main driver of the Thailand economy Import (83%) Indigenous (17%) Gulf of Thailand (71%)…
  31. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 31
    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…
  32. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 32
    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…
  33. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 33
    Diversified International Portfolio Worldwide operations: 40 projects* in 11 countries Thailand Oil sands PTTEPs core production base 80% of total sales volume Key producing assets include Bongkot, Arthit, Contract 4 and S1…
  34. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 34
    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…
  35. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 35
    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…
  36. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 36
    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…
  37. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 37
    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…
  38. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 38
    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…
  39. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 39
    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,…
  40. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 40
    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…
  41. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 41
    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…
  42. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 42
    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%…
  43. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 43
    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…
  44. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 44
    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 commercial…
  45. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 45
    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…
  46. May 2018 Non Deal Roadshow Presentation – PTTEP – slide 46
    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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