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March 2019 Investor Presentation – PTTEP

PTTEP · Mar 25, 2019 · 50 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 2019 Investor Presentation – PTTEP – slide 1
    Investor Presentation Non-Deal Roadshow in Singapore 25-26 March 2019 Source: The Matter
  2. March 2019 Investor Presentation – PTTEP – slide 2
    Malaysia Expansion Strategy and Growth Financial Performance Investment Plan
  3. March 2019 Investor Presentation – PTTEP – slide 3
    Transaction Overview Acquiring 100% of Murphys business in Malaysia PTTEP to acquire 100% of the shares in Murphy Sabah Oil Co. Ltd and Murphy Sarawak Oil Co. Ltd from Murphy Oil Corporations (Murphy) 100% 100% Total consideration…
  4. March 2019 Investor Presentation – PTTEP – slide 4
    Asset Profile Diversified portfolio with a balance of short and long term contributions Arthit Sabah H Bongkot Expected 22 KBOED JDA 1st gas in 2020* PFLNG2 (Gas) 18 KBOED 2018 (Oil/Gas) (Oil) PM415 Sabah K Award of…
  5. March 2019 Investor Presentation – PTTEP – slide 5
    Investment Rationale Strategically fit and value accretive Coming Home Strategy Strong Partnership Focus area with expertise in the subsurface, Reinforce strong partnership with Petronas business and regulations aspects Prolific…
  6. March 2019 Investor Presentation – PTTEP – slide 6
    Contributions to PTTEPs Portfolio Boost financial performance with valuable human resources Net Sales Volume Proved and Probable Reserves (2P) +18% +27% increase in 2P reserves on 5-Yr Avg. Unit: MMBOE (full year effect from…
  7. March 2019 Investor Presentation – PTTEP – slide 7
    Malaysia Expansion Strategy and Growth Financial Performance Investment Plan
  8. March 2019 Investor Presentation – PTTEP – slide 8
    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…
  9. March 2019 Investor Presentation – PTTEP – slide 9
    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…
  10. March 2019 Investor Presentation – PTTEP – slide 10
    E&P: Continue to Grow Core Business Production and Reserves accretion remains the top priority Affirm FID Timeline Boost up Exploration Activities Mozambique Rovuma Offshore Area 1 Grow the foothold Strengthen backyard Joint Venture…
  11. March 2019 Investor Presentation – PTTEP – slide 11
    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…
  12. March 2019 Investor Presentation – PTTEP – slide 12
    Malaysia Expansion Strategy and Growth Financial Performance Investment Plan
  13. March 2019 Investor Presentation – PTTEP – slide 13
    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…
  14. March 2019 Investor Presentation – PTTEP – slide 14
    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…
  15. March 2019 Investor Presentation – PTTEP – slide 15
    Malaysia Expandsion Strategy and Growth Financial Performance Investment Plan
  16. March 2019 Investor Presentation – PTTEP – slide 16
    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…
  17. March 2019 Investor Presentation – PTTEP – slide 17
    Outlook & Takeaways Expect strong core performance and execution under new directions 2019 Guidance Key Takeaways Q1 2019 FY 2019 Average Sales Volume Maximize value of legacy assets 309 318 with cost competitiveness Average Gas…
  18. March 2019 Investor Presentation – PTTEP – slide 18
    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 19
  19. March 2019 Investor Presentation – PTTEP – slide 19
    Supplementary information Company Overview and 2018 Achievement 21-22 Summary of Bidding Results 23-25 2018 Financial Results 26-31 Sustainability Development 32 Thailand Energy Updates 33-35 Reserves and Resources 36 Key…
  20. March 2019 Investor Presentation – PTTEP – slide 20
    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 producer in Thailand and Myanmar Government of Synergy with PTTs gas value chain through its…
  21. March 2019 Investor Presentation – PTTEP – slide 21
    Recent Key Achievement Robust all round 2018 performance Performance Achievement Portfolio Highlights Executed Coming-home and Strategic Alliance Strategies Higher ASP in line with in global crude price Focused investment in strategic…
  22. March 2019 Investor Presentation – PTTEP – slide 22
    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…
  23. March 2019 Investor Presentation – PTTEP – slide 23
    E&P: Thailand Champion in Domestic Gas Supply Execute Bongkot and Erawan transition plan To supply 2/3 of domestic gas production starting from 2022 onwards.. Growing production and reserves profile Substantial volume boost for 10…
  24. March 2019 Investor Presentation – PTTEP – slide 24
    E&P: Thailand Champion in Domestic Gas Supply Achievable cost optimization to sustain target return With new gas price, we can achieve target IRR Gas price Cost optimization Under Price Constant of 116 THB/MMBTU, Major processing…
  25. March 2019 Investor Presentation – PTTEP – slide 25
    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%…
  26. March 2019 Investor Presentation – PTTEP – slide 26
    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 &…
  27. March 2019 Investor Presentation – PTTEP – slide 27
    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…
  28. March 2019 Investor Presentation – PTTEP – slide 28
    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…
  29. March 2019 Investor Presentation – PTTEP – slide 29
    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…
  30. March 2019 Investor Presentation – PTTEP – slide 30
    Cash Flows : January December 2018 Generating strong operating cash flows over 3 billion Unit : MMUSD Operating 3,276 CAPEX & Investment (2,062) Income before tax & non-cash 3,921 CAPEX (PP&E, Intangible asset) (1,154) adjustment…
  31. March 2019 Investor Presentation – PTTEP – slide 31
    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…
  32. March 2019 Investor Presentation – PTTEP – slide 32
    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 33.17 32.41…
  33. March 2019 Investor Presentation – PTTEP – slide 33
    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 &…
  34. March 2019 Investor Presentation – PTTEP – slide 34
    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%)…
  35. March 2019 Investor Presentation – PTTEP – slide 35
    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…
  36. March 2019 Investor Presentation – PTTEP – slide 36
    Diversified international portfolio Worldwide operations: 46 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 The…
  37. March 2019 Investor Presentation – PTTEP – slide 37
    Thailand Myanmar Malaysia Coming home to maintain strong foundation with full expertise Myanmar S1 MOGE3 Sinphuhom E5 M3 Thailand Yadana Zawtika MD11 Yetagun B8/32 & 9A MD7 Erawan Contract 4 Arthit Sabah H Bongkot…
  38. March 2019 Investor Presentation – PTTEP – slide 38
    Other South East Asia Expanding foothold in the region Vietnam and Indonesia Production projects Pre sanction projects Vietnam 16-1 (28.5% WI) Average sales volume of crude oil was 17 KBPD in 12M2018 Southwest Vietnam The…
  39. March 2019 Investor Presentation – PTTEP – slide 39
    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…
  40. March 2019 Investor Presentation – PTTEP – slide 40
    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…
  41. March 2019 Investor 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. March 2019 Investor Presentation – PTTEP – slide 42
    America: Mexico, Brazil and Canada -- Entry into high potential petroleum province at exploration phase -- Gulf of Mexico, Mexico Deep Water Brazil PTTEPs Block: Block 12 (20%) Barreirinhas AP1 and Block 29 (16.67%), as non-…
  43. March 2019 Investor Presentation – PTTEP – slide 43
    Project information 1/4 Production phase: Thailand and JDA Project Status* PTTEPs Partners 12M2018 Average Sales Volume ** 2019 Key Activities Share (as Feb 2019) Gas Oil and Other Production Phase Thailand and JDA Ensure gas…
  44. March 2019 Investor Presentation – PTTEP – slide 44
    Project information 2/4 Production phase: Overseas Project Status* PTTEPs Partners 12M2018 Average Sales Volume ** 2019 Key Activities Share (as of Feb 2019) Gas Oil and Other Production Phase Apico**** 35% Condensate: 246 BPD…
  45. March 2019 Investor Presentation – PTTEP – slide 45
    Project information 3/4 Exploration/Development phase Project Status* PTTEPs Share Partners 2019 Key Activities (as of Feb 2019) Exploration/Development Phase Thailand and JDA 23 G9/43 OP 100% - 24 G1/61 (Erawan) OP 60% MP G2…
  46. March 2019 Investor Presentation – PTTEP – slide 46
    Project information 4/4 Exploration/Development phase Project Status* PTTEPs Partners 2019 Key Activities Share (as of Feb 2019) Exploration/Development Phase Overseas 90%-100% PTTEP Australasia Completed Montara Field Divestment…
  47. March 2019 Investor Presentation – PTTEP – slide 47
    Recently acquired projects Project Details (1/2) Project Working Interest Oi/Gas Covering Area (km2) 2018 Net Sales Volume Producing Phase PTTEP HKO* 59.5% (Operator) Pertamina 25.5% Oil 13,000 BPD 903.7 Petronas 15% Gas 105…
  48. March 2019 Investor Presentation – PTTEP – slide 48
    Recently acquired projects Project Details (2/2) Project Working Interest Oi/Gas Covering Area (km2) 2018 Net Sales Volume Development Phase Rotan Field PTTEP HKO* 56% (Operator) 17.6 Expected first gas in 2H Petronas 20% 2020,…
  49. March 2019 Investor Presentation – PTTEP – slide 49
    Organization structure Ensuring transparency, integrity and good corporate governance Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management Committee…
  50. March 2019 Investor Presentation – PTTEP – slide 50
    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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