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September 2018 Investor Presentation – PTTEP

PTTEP · Sep 6, 2018 · 48 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. September 2018 Investor Presentation – PTTEP – slide 1
    Goldman Sachs Commodities Conference 2018 6 7 September 2018 Shenzhen
  2. September 2018 Investor Presentation – PTTEP – slide 2
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  3. September 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. September 2018 Investor Presentation – PTTEP – slide 4
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  5. September 2018 Investor Presentation – PTTEP – slide 5
    Sales Volume & Unit Cost Higher sales volume offset with rising unit cost driven by DD&A Sales Volume and Price Unit Cost 400,000 40 BOED 319,521 /BOE 299,206 292,709 297,999 30.46 29.05 30.37 300,000 19,834 13,331 9,704 30 28.29…
  6. September 2018 Investor Presentation – PTTEP – slide 6
    Cash Flow Performance Maintained healthy operating cash flow Cash Flow Performance Source & Use of Funds in 6M 2018 MMUSD % MMUSD EBITDA Margin (RHS) 3,000 100 2,400 2,288 ** 2,687 2,000 2,308 90 2,000 1,600 80 1,241 * 74…
  7. September 2018 Investor Presentation – PTTEP – slide 7
    Financial Position Robust financial position with low gearing ratio MMUSD Capital Structure D/E Ratio 25,000 1.00 20,000 18,891 19,220 19,403 0.80 4,673 4,796 5,472 15,000 0.60 2,832 2,907 2,252 10,000 11,386 11,517 0.40 11,679…
  8. September 2018 Investor Presentation – PTTEP – slide 8
    Dividends Demonstrating our dividend commitment to shareholders Dividend Payment History (Policy : No Less Than 30% of Net Income) 1H 2H THB per share 6.00 4.50 4.25 4.00 1.50 3.00 3.25 2.75 2.00 2.00 2.50 3.00 1.50 1.75 1.00…
  9. September 2018 Investor Presentation – PTTEP – slide 9
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  10. September 2018 Investor Presentation – PTTEP – slide 10
    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…
  11. September 2018 Investor Presentation – PTTEP – slide 11
    REFOCUS through Series of Portfolio Rationalization Strengthen Focus areas, Reposition Non-core Strengthen focus areas Impact to FY2018s performance After 22.22% stake acquisition of Bongkot and the Mexico divestment of Montara…
  12. September 2018 Investor Presentation – PTTEP – slide 12
    Fast-tracking FID of Key Pre-Development Projects Stronger path towards Mozambique LNG FID by 1H2019 The Mozambique LNG: Significant progress to date Completed In-Progress Legal & Contractual Framework and Marine Offshore contractor…
  13. September 2018 Investor Presentation – PTTEP – slide 13
    Continue to Pursue Other Growth Strategies Production and Reserve accretion remains the top priority Strive to win the Bidding: PTTEP is well-positioned to bid for Bongkot and Erawan Timeline for the bidding of Expiring Concessions in…
  14. September 2018 Investor 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. September 2018 Investor Presentation – PTTEP – slide 15
    Company Overview Financial Performance Strategy and Growth Investment Plan & Outlook
  16. September 2018 Investor Presentation – PTTEP – slide 16
    Sales Volume M&As and concession bidding remain key upside Unit : KBOED 310 324 312 299 306 300 253 Incremental volume from Bongkot acquisition, offsetting with Montara divestment 200 As per 5-year 100 Investment Plan…
  17. September 2018 Investor Presentation – PTTEP – slide 17
    Investment Plan (excluding Acquisition cost on M&As) Disciplined spending on core assets for future production growth Unit : Billion USD 5 Years (2018 2022) OPEX 6.5 3.2 3.2 3.2 CAPEX 9.1 3.1 3.0 3,000 2.9 TOTAL 15.6 2.6 1.1 1.3…
  18. September 2018 Investor Presentation – PTTEP – slide 18
    Financial Outlook Expect strong core operational performance and margin Q3 2018 FY 2018 Average Sales Volume* KBOED 308 310 Average Gas Price** USD/MMBTU 6.5 6.5 Unit Cost USD/BOE 31-32 30-31 EBITDA Margin % of sales…
  19. September 2018 Investor Presentation – PTTEP – slide 19
    Key Takeaways Maximizing value through solid growth platforms Strengthen fundamental Sustain competitive cost structure Uplift sales volume through efficiency improvement Maintain healthy margin Focus on production and reserves…
  20. September 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. September 2018 Investor Presentation – PTTEP – slide 21
    Supplementary information Q2 2018 Financial Results 22-25 Safety and Sustainability 26-27 Oil Market Outlook 28-29 Thailand and LNG Updates 30-33 Reserves and Resources 34 Key Project Highlights by Region 35-43 Project…
  22. September 2018 Investor Presentation – PTTEP – slide 22
    Summary of Q2 2018 Financial Results Strong core earnings supported by higher selling price and volumes Unit : MMUSD Statement of Income Q1 18 Q2 18 % QoQ Q2 17 % YoY 6M 18 6M 17 % YTD Total Revenues 1,240 1,347 9% 1,032 31% 2,562…
  23. September 2018 Investor Presentation – PTTEP – slide 23
    Financial Performance : Income Statement Maintained strong EBITDA margin Q1 18 Q2 18 Q2 17 6M 18 6M 17 Sales and Revenue from Pipeline Transportation (MMUSD) 1,184 1,319 993 2,503 2,046 EBITDA (MMUSD) 879 965 685 1,844 1,461 Net…
  24. September 2018 Investor Presentation – PTTEP – slide 24
    Financial Performance : Balance Sheet Robust financial position with low gearing ratio YE 17 Q2 18 Total Assets (MMUSD) 19,220 19,403 - Cash & cash equivalents* (MMUSD) 4,468 3,421 Total Liabilities (MMUSD) 7,703 7,724 - Interest…
  25. September 2018 Investor Presentation – PTTEP – slide 25
    Debt Maturity Profile (as of end of June 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. September 2018 Investor 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. September 2018 Investor 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. September 2018 Investor Presentation – PTTEP – slide 28
    Oil Prices Oil prices stabilize in 65-75 /BBL range as market rebalances US / Barrel Brent Dubai Min-Max Brent Analyst Consensus* 90 80 70 Analyst Consensus 60 50 40 2018 consensus 2019 consensus 30 2017 1H actual 2017 2H actual…
  29. September 2018 Investor Presentation – PTTEP – slide 29
    Oil Market Outlook Market balancing continues in 2019 Oil demand is forecasted to continue to outstrip supply towards 2019, with support from demand growth in China, India and US Demand Demand Supply 100 99 MMBBLD MMBBLD Supply…
  30. September 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 2016 FY 2017 5M 2018 35.83 Domestic…
  31. September 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. September 2018 Investor Presentation – PTTEP – slide 32
    Thailands Oil and Gas Balance January June 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 (68%)…
  33. September 2018 Investor Presentation – PTTEP – slide 33
    Global LNG Market Update In need of new LNG supply from 2022/2023 onwards Global LNG Market 700 New supply Global LNG demand shows continuous growth, and 600 required from demand market will likely rebalance over the next 3 years…
  34. September 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. September 2018 Investor Presentation – PTTEP – slide 35
    Diversified international portfolio Worldwide operations: 40 projects* in 11 countries Thailand Oil sands PTTEPs core production base 79% of total sales volume Key producing assets include Bongkot, Arthit, Contract 4 and S1…
  36. September 2018 Investor Presentation – PTTEP – slide 36
    Thailand Strong home base with legacy assets maintaining production plateau Bongkot (66.6667% interest) Bongkots natural gas sales volume of 776 MMSCFD in 1H2018. Average condensate sales volume was 26 KBPD in 1H2018. Bongkot South…
  37. September 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. September 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. September 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. September 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. September 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. September 2018 Investor Presentation – PTTEP – slide 42
    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…
  43. September 2018 Investor Presentation – PTTEP – slide 43
    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…
  44. September 2018 Investor Presentation – PTTEP – slide 44
    Project information 1/3 Production phase: Thailand and JDA Project Status* PTTEPs Partners 1H2018 Average Sales Volume ** 2018 Key Activities Share (as of Q2 2018) Gas Oil and Other Production Phase Thailand and JDA Chevron 16%…
  45. September 2018 Investor Presentation – PTTEP – slide 45
    Project information 2/3 Production phase: Overseas Project Status* PTTEPs Partners 1H2018 Average Sales Volume ** 2018 Key Activities Share (as of Q2 2018) Gas Oil and Other Production Phase Overseas PetroVietnam 50% Crude: 4.1 k BPD…
  46. September 2018 Investor Presentation – PTTEP – slide 46
    Project information 3/3 Exploration/Development phase Project Status* PTTEPs Partners 2018 Key Activities Share (as of Q2 2018) Exploration/Development Phase Thailand and JDA 24 G9/43 OP 100% Overseas MOECO 20% Completed Pre-FEED…
  47. September 2018 Investor Presentation – PTTEP – slide 47
    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…
  48. September 2018 Investor Presentation – PTTEP – slide 48
    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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