2018 Financial Results and Strategy Update Analyst Meeting 8 February 2019 Source: The Matter
Industry Highlights Strategy and Growth Financial Performance
Industry Trends Price volatility driven by macro-economic and political uncertainties Oil Market Outlook Brent Dubai Min-Max Brent Analyst Consensus* 2018 actual 2019 consensus Brent 71.31 US/BBL Q1 Brent 65.8 US/BBL Dubai 69.65…
Industry Trends New volumes may cause another supply surplus Oil Market LNG MarketOutlook update Risk of over supply Global demand in 2025 Asian markets dominate demand growth supported by Chinese Clean Heating Plan New volume Risk…
Industry Highlights Strategy and Growth Financial Performance
PTTEPs New Vision and Strategy for Sustainable Growth Vision Energy Partner of Choice through Competitive Performance and Innovation for Long-term Value Creation Grow with Coming Home to Create full value from SEA and Middle…
Expand and Execute For strong foundation and long-term profitable growth Strong Cash flow Main Thailand Myanmar Contributors Maintain cost competitiveness through technology Coming Home to South East Asia Bongkot & PSC signing in…
Coming Home to South East Asia Strengthen core areas with experiences Thailand Gulf of Thailand Champion Execute Bongkot and Erawan transition, with PSC signing by Q1 2019 Create full value on legacy assets e.g. S1, MTJDA and Arthit…
Strategic Alliance in the Middle East Implementation of collaboration strategy Partnering to JV with prudent operators in prolific low cost area UAE Prolific areas with strategic partnerships Pursue more blocks in the region Broaden…
New Business Opportunities Expand value chain, create innovation and step towards long-term sustainability Integrated Energy Solution Enhance value of existing assets in Myanmar e.g. Zawtika, M3 Gas to Power Support Myanmar pipeline…
Industry Highlights Strategy and Growth Financial Performance
2018 Key Financial Performance Robust all round Sale Average Volumes Selling Thailand & MTJDA Other SEA Rest of world Price 2017 2018 299,206 305,522 2% YTD Gas (/MMBTU) 5.59 6.42 19% YTD Boosted up by the Liquid (/BBL) 52.26…
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 5.00 4.50 4.25 4.00 1.50 3.00 3.25 2.75 3.25 2.00 2.00 2.50 3.00 1.50…
Five Year Plan CAPEX to support current volumes and new projects start-up Sales Volume* Unit : KBOED Upside volume from BKT and ERW***** 306 318 325 326 300 280 235 Rest of World 200 Other SEA Thailand & 100 MTJDA 0 2018 2019…
Outlook & Takeaways Expect strong core performance and execution under new directions 2019 Guidance Key Takeaways Q1 2019 FY 2019 Industry Average Sales Volume Range-bound price volatility 309 318 Vision Average Gas Price* Energy…
Thank you and Q&A You can reach the Investor Relations team for more information and inquiry through the following channels: Energy Partner of Choice http://www.pttep.com +66 2 537 4000 IRpttep.com 16
Supplementary information Summary of Key Terms from Bidding Results 18 2018 Financial Results 19-23 Sustainability Development 24 Thailand Energy Updates 25-27 Reserves and Resources 28 Key Project Highlights by Region…
Summary of Terms from Bidding Result of Bongkot and Erawan and PSC Model Price Formula PSC Model Sales = 100 10% Royalty Cost recovery Max 50% = 100*10%=10 1 Cost Recovery Profit Sharing = 100*50%=50 = 100-10-50=40 2 Profit…
Summary of 2018 Financial Results Solid earnings support by higher selling price and volume Unit : MMUSD Statement of Income 2018 2017 % YTD Q3 18 Q4 18 % QoQ Q4 17 % YoY Total Revenues 5,459 4,523 21% 1,398 1,557 11% 1,271 23% Sales…
PTTEP Sales Volume & Average Selling Price Delivering strong sales volume with higher ASP Sales Volume BOED 320,905 305,522 299,206 304,940 1,682 313,054 2018 300,000 7,494 13,331 8,959 49,097 14,745 Rest of World Sales Volume &…
Operating Performance Increased unit cost YTD driven by depreciation and royalties Unit Cost /BOE 40 33.00* 32.69* 30.99 31.69* 29.05 30 Cash Cost Unit Cost 20 15.11 15.31 16.28 15.86 13.94 10 - 2018 2017 Q3 18 Q4 18 Q4 17…
Financial Performance : Income Statement Maintained healthy EBITDA margin and core profits 2018 2017 Q3 18 Q4 18 Q4 17 Sales and Revenue from Pipeline Transportation (MMUSD) 5,310 4,359 1,367 1,440 1,224 EBITDA (MMUSD) 3,860 3,063…
Financial Performance : Balance Sheet Strengthened balance sheet with low leverage ratio 2018 2017 Total Assets (MMUSD) 19,571 19,220 - Cash & cash equivalents* (MMUSD) 4,001 4,468 Total Liabilities (MMUSD) 7,551 7,703 - Interest…
Sustainable development Pursue long-term growth with social and environmental wellness 2018 DJSI Listed Company FTSE4Good Emerging Index 2018 PTTEP has been selected as a member of PTTEP becomes a constituent of the FTSE4Good the…
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 37 MMSCFD FY 2016 FY 2017 11M 2018 35 Domestic…
Thailands Energy Value Chain PTTEP contributes almost 1/3 of Thailands petroleum production Thailands Oil and Gas Demand Thailand Petroleum Production 11M2018 Midstream % by Petroleum Type and Area Gas: operated by PTT Crude Oil &…
Thailands Oil and Gas Balance 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%) Onshore(2%)…
Reserves at the Year-end 2018 Maintained reserves life with majority of reserves base in SEA MMBOE Reserves 2018 by Geography 1,500 Life* Domestic International 1,099 1,028 1,031 1,028 8 Years 677 29% 1,000 404 351 31% 400 71%…
Diversified international portfolio Worldwide operations: 42 projects in 12 countries Thailand Oil sands PTTEPs core production base 81% of total sales volume Key producing assets include Bongkot, Arthit, Contract 4 and S1…
Thailand and other Southeast Asia Coming home to maintain strong foundation with full expertise Thailand Myanmar Bongkot (66.6667% WI) 3 producing gas fields supplying gas to Average natural gas and condensate both Thailand and…
The Middle East : United Arab Emirates Partnering to JV with prudent operators in prolific low cost area Project Overview PTTEPs Block Abu Dhabi Offshore 1 Abu Dhabi Offshore 2 Location North-west of Abu Dhabi Emirates, United Arab…
Other Prolific Area Expand portfolio in high prolific areas with prominent operators Vietnam and Indonesia Reinforcing regional exposure through strategic partnerships Natuna Sea A (11.5% WI) Vietnam 16-1 (28.5% WI) Average sales…
East Africa: Mozambique Potential to become one of the worlds largest emerging LNG supply hubs Substantial recoverable resources of approximately 75 tcf with scalable offshore development expending up to 50 MTPA Location and Cost…
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…
America: Canada and Brazil Canada Oil Sands Flexibility to pursue long-term investment from the oil sands project Mariana Oil Sands Project Project Overview Approximately 96% of the reserves in Canada, the Hangingstone Operates 100%…
Project information 1/3 Production phase: Thailand and JDA Project Status* PTTEPs Partners 12M2018 Average Sales Volume ** 2019 Key Activities Share (as YE2018) Gas Oil and Other Production Phase Thailand and JDA Ensure gas…
Project information 2/3 Production phase: Overseas Project Status* PTTEPs Partners 12M2018 Average Sales Volume ** 2019 Key Activities Share (as of YE2018) Gas Oil and Other Production Phase Apico 35% Condensate: 246 BPD Ensure gas…
Project information 3/3 Exploration/Development phase Project Status* PTTEPs Partners 2019 Key Activities Share (as of YE2018) Exploration/Development Phase Thailand and JDA 23 G9/43 OP 100% - Overseas MOECO 20% Negotiate the…
Organization structure Ensuring transparency, integrity and good corporate governance Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management Committee…
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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