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Non Deal Road Show by UBS and BNPP – PTTEP

PTTEP · Apr 2, 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. Non Deal Road Show by UBS and BNPP – PTTEP – slide 1
    Investor Presentation Non Deal Roadshow 2 - 4 April 2019 London, United Kingdom Source: The Matter
  2. Non Deal Road Show by UBS and BNPP – PTTEP – slide 2
    Strategy and Growth Recent Developments Financial Performance Investment Plan
  3. Non Deal Road Show by UBS and BNPP – PTTEP – slide 3
    PTTEPs Vision and Strategy for Sustainable Growth Vision Energy Partner of Choice through Competitive Performance and Innovation for Long-term Value Creation Coming Home Myanmar S1 to South East Asia MOGE3 Sinphuhom Strategic…
  4. Non Deal Road Show by UBS and BNPP – PTTEP – slide 4
    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…
  5. Non Deal Road Show by UBS and BNPP – PTTEP – slide 5
    Strategy and Growth Recent Developments Financial Performance Investment Plan
  6. Non Deal Road Show by UBS and BNPP – PTTEP – slide 6
    Acquisition of Murphys Business: Transaction Overview (1/4) 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…
  7. Non Deal Road Show by UBS and BNPP – PTTEP – slide 7
    Acquisition of Murphys Business: Asset Profile (2/4) 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)…
  8. Non Deal Road Show by UBS and BNPP – PTTEP – slide 8
    Acquisition of Murphys Business: Investment Rationale (3/4) Strategically fit and value accretive Coming Home Strategy Strong Partnership Focus area with expertise in the subsurface, Reinforce strong partnership with Petronas…
  9. Non Deal Road Show by UBS and BNPP – PTTEP – slide 9
    Acquisition of Murphys Business: Contributions to PTTEPs Portfolio (4/4) 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.…
  10. Non Deal Road Show by UBS and BNPP – PTTEP – slide 10
    Bongkot and Erawan: Thailand Champion in Domestic Gas Supply (1/2) Execute Bongkot and Erawan transition plan To supply 2/3 of domestic gas production starting from 2022 onwards.. Growing production and reserves profile Substantial…
  11. Non Deal Road Show by UBS and BNPP – PTTEP – slide 11
    Bongkot and Erawan: Thailand Champion in Domestic Gas Supply (2/2) 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,…
  12. Non Deal Road Show by UBS and BNPP – PTTEP – slide 12
    Mozambique Offshore Area 1 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…
  13. Non Deal Road Show by UBS and BNPP – PTTEP – slide 13
    Exploration Plan in 2019 Exploration activities to accelerate resources discovery 2019 Budget CAPEX 191 MMUSD 235 MMUSD OPEX 44 MMUSD FEED study in Myanmar and Australia Site preparation in Myanmar and Malaysia Site…
  14. Non Deal Road Show by UBS and BNPP – PTTEP – slide 14
    Strategy and Growth Recent Developments Financial Performance Investment Plan
  15. Non Deal Road Show by UBS and BNPP – PTTEP – slide 15
    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…
  16. Non Deal Road Show by UBS and BNPP – PTTEP – slide 16
    Financial Position Strengthened balance sheet with net cash position MMUSD Capital Structure D/E Ratio 25,000 1.00 20,000 18,891 19,220 19,571 0.80 4,673 4,796 5,605 15,000 0.60 2,832 2,907 1,946 10,000 0.40 0.25 0.25 12,020…
  17. Non Deal Road Show by UBS and BNPP – PTTEP – slide 17
    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…
  18. Non Deal Road Show by UBS and BNPP – PTTEP – slide 18
    Strategy and Growth Recent Developments Financial Performance Investment Plan
  19. Non Deal Road Show by UBS and BNPP – PTTEP – slide 19
    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…
  20. Non Deal Road Show by UBS and BNPP – PTTEP – slide 20
    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…
  21. Non Deal Road Show by UBS and BNPP – PTTEP – slide 21
    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 22
  22. Non Deal Road Show by UBS and BNPP – PTTEP – slide 22
    Supplementary information Company Overview and 2018 Achievement 24-25 Summary of Key Terms from Bidding Results 26 2018 Financial Results 27-33 Sustainability Development 34 Thailand Energy Updates 35-37 Reserves 38 Key…
  23. Non Deal Road Show by UBS and BNPP – PTTEP – slide 23
    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…
  24. Non Deal Road Show by UBS and BNPP – PTTEP – slide 24
    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…
  25. Non Deal Road Show by UBS and BNPP – PTTEP – slide 25
    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…
  26. Non Deal Road Show by UBS and BNPP – PTTEP – slide 26
    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%…
  27. Non Deal Road Show by UBS and BNPP – PTTEP – slide 27
    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 &…
  28. Non Deal Road Show by UBS and BNPP – PTTEP – slide 28
    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…
  29. Non Deal Road Show by UBS and BNPP – PTTEP – slide 29
    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…
  30. Non Deal Road Show by UBS and BNPP – PTTEP – slide 30
    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…
  31. Non Deal Road Show by UBS and BNPP – PTTEP – slide 31
    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…
  32. Non Deal Road Show by UBS and BNPP – PTTEP – slide 32
    Debt Maturity Profile 800 700 700 600 USD Millions 490 500 413 400 349 300 200 100 - 2019 2020 2021 2022-2028 2029 2030-2041 2042 Note: Excludes Hybrid bonds Unit: USD Millions or equivalent after cross currency…
  33. Non Deal Road Show by UBS and BNPP – PTTEP – slide 33
    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…
  34. Non Deal Road Show by UBS and BNPP – PTTEP – slide 34
    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…
  35. Non Deal Road Show by UBS and BNPP – PTTEP – slide 35
    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 &…
  36. Non Deal Road Show by UBS and BNPP – PTTEP – slide 36
    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%)…
  37. Non Deal Road Show by UBS and BNPP – PTTEP – slide 37
    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…
  38. Non Deal Road Show by UBS and BNPP – PTTEP – slide 38
    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…
  39. Non Deal Road Show by UBS and BNPP – PTTEP – slide 39
    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…
  40. Non Deal Road Show by UBS and BNPP – PTTEP – slide 40
    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…
  41. Non Deal Road Show by UBS and BNPP – 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. Non Deal Road Show by UBS and BNPP – 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. Non Deal Road Show by UBS and BNPP – 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. Non Deal Road Show by UBS and BNPP – 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. Non Deal Road Show by UBS and BNPP – 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. Non Deal Road Show by UBS and BNPP – 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. Non Deal Road Show by UBS and BNPP – PTTEP – slide 47
    Projects from Murphy Malaysia Acquisition 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%…
  48. Non Deal Road Show by UBS and BNPP – PTTEP – slide 48
    Projects from Murphy Malaysia Acquisition 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…
  49. Non Deal Road Show by UBS and BNPP – 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. Non Deal Road Show by UBS and BNPP – 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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