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2Q 2019 Financial Results and Strategy Update – PTTEP

PTTEP · Aug 1, 2019 · 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. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 1
    Q2 2019 Financial Results and Strategy Update Analyst Meeting 1 August 2019
  2. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 2
    Industry Trends Strategy and Growth Financial Performance
  3. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 3
    Industry Trends: Oil Market Outlook Price volatility driven by uncertainty of global economy US / Jan-18 Barrel Apr-18 Jul-18 Brent Oct-18 Dubai Jan-19 Min-MaxApr-19 Jul-19 Brent Analyst Consensus* Oct-19 110 100 2018 actual 1H…
  4. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 4
    Industry Trends LNG spot price expected to pick up and IMO to have less impact on PTTEPs gas price LNG Market Update IMO Implication LNG Spot Price Forecast Forward Prices for HSFO 3.5% Sulphur - Brent by Entry Period US/MMBTU US/BBL…
  5. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 5
    Industry Trends Strategy and Growth Financial Performance
  6. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 6
    Growth Strategies Energy Partner of Choice through Competitive Performance and Innovation for Long-term Value Creation Strategic Alliance Coming Home Strategy Expand Partnering with world-class operators Execute Major projects…
  7. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 7
    Key Milestones and Way Forward to the Sustainable Growth Winning of Bongkot Acquisition of APICOs Acquisition of Partex FID of Mozambique Gas discovery in Transition of Acceleration of and Erawan biddings interest from Tatex in the…
  8. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 8
    SK410B Project: Exploration Success Significant resources discovery, estimated at 2-4 TCF Successful Well Test Result: (Gas) 41.3 MMSCFD and 246 barrel of condensate Sabah H per day through 40/64 inches choke size Arthit Bongkot…
  9. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 9
    Industry Trends Strategy and Growth Financial Performance
  10. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 10
    6M 2019 Key Financial Performance Strong core performance supported by higher volumes and gas price Sale Volumes Average Selling Price 327 6M 2018 6M 2019 298 10% YTD Gas (/MMBTU) Liquid (/BBL) 6.14 66.77 6.98 62.07 4% YTD…
  11. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 11
    Financial Position and Dividends Healthy balance sheet with low gearing Capital Structure Dividend Payment History MMUSD D/E Ratio Policy : No Less Than 30% of Net Income 20,000 19,484 18,775 1.00 THB per share 5,533 4,832 6.00 0.80…
  12. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 12
    Revised Five Year Plan* Incorporating growth from recent developments : Murphy and Bidding win of BKT & ERW Unit : KBOED 437 380 409 Rest of World 400 365 345 306 Other SEA 300 Sales Volume 200 Thailand & 100 MTJDA 0 2018 2019…
  13. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 13
    Outlook & Takeaways Volumes boost with priorities in business transition for full value realization 2019 Guidance PTTEPs Priorities Q3 2019 FY 2019 Ensuring Smooth Business Transition Average Sales Volume 356 345 Acceleration of…
  14. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 14
    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 +66 2 537 4000 IRpttep.com
  15. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 15
    Supplementary information Q2 2019 Financial Results 16-20 Sustainability Development 21 Thailand Energy Updates 22-24 Reserves at the Year-end 2018 25 Key Project Highlights by Region 26-36 Project Details 37-44…
  16. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 16
    Sales Volume & Unit Cost Strong volume with competitive cost Sales Volume and Price Unit Cost 400,000 /BOE BOED 326,971 299,206 305,522 297,999 31.69* 30.24* 300,000 7,494 3,075 29.05 30.37 13,331 9,704 52,062 30 Rest of World…
  17. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 17
    Cash Flow Performance Robust operating cash flow Cash Flow Performance Source & Use of Funds in 6M 2019 Operating Cashflows (LHS) EBITDA Margin (RHS) MMUSD 3,276 100 Operating Cash Flow* (MMUSD) 2,400 2,322** 3,000 2,687…
  18. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 18
    Financial Performance : Income Statement Maintained strong EBITDA margin Q1 19 Q2 19 Q2 18 6M 19 6M 18 Sales and Revenue from Pipeline Transportation (MMUSD) 1,356 1,503 1,319 2,859 2,503 EBITDA (MMUSD) 1,025 1,087 965 2,112 1,844…
  19. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 19
    Financial Performance : Balance Sheet Maintained low gearing ratio after refinance YE 18 Q2 19 Total Assets (MMUSD) 19,484 18,775 - Cash & cash equivalents* (MMUSD) 4,001 3,469 Total Liabilities (MMUSD) 7,479 6,878 - Interest…
  20. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 20
    Debt Maturity Profile As of June 2019 800 700 700 600 USD Millions 500 480 490 400 349 300 200 100 - 2019 2020 2021 2022 2023-2028 2029 2030-2041 2042 Note: Excludes Hybrid bonds Unit: USD Millions or equivalent…
  21. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 21
    Sustainable development Pursue long-term growth with social and environmental wellness 2018 DJSI Listed Company FTSE4Good Emerging Index 2019 PTTEP has been selected as a member of PTTEP becomes a constituent of the FTSE4Good the…
  22. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 22
    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 FY 2017 FY 2018 5M 2019 Domestic Myanmar LNG…
  23. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 23
    Thailands Energy Value Chain PTTEP contributes almost 1/3 of Thailands petroleum production 5M Thailands Oil and Gas Demand Thailand Petroleum Production 5M2019 Midstream Crude Oil & % by Petroleum Type and Area Gas: operated by…
  24. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 24
    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 (67%) Onshore(2%)…
  25. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 25
    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 31% 400 351 71% 5…
  26. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 26
    Diversified international portfolio Thailand Oil sands PTTEPs core production base 83% of total sales volume Key producing assets include Bongkot, Arthit, Contract 4 and S1 The PSCs signing of Bongkot (G2/61) and Erawan (G1/61)…
  27. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 27
    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 both Thailand Average natural gas and condensate sales…
  28. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 28
    Bongkot and Erawan: 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…
  29. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 29
    Acquisition of Murphys Business in Malaysia Diversified portfolio with a balance of short and long term contributions PTTEP to acquire 100% of the shares in Murphy Sabah Oil and Murphy Sarawak Oil from Murphy Total consideration of USD…
  30. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 30
    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 18 KBPD in 6M2019 Southwest Vietnam The…
  31. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 31
    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…
  32. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 32
    Acquisition of Partex Holding B.V. Access to the largest oil asset in Oman and world-class Midstream Complex Oman PDO (Block 6) Mukhaizna (Block 53) Oman LNG Largest asset covering around 1/3 Largest single onshore producing field The…
  33. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 33
    Mozambique Area 1 FID, on the Path of Unlocking Value from World Class LNG Asset Substantial recoverable resources of approximately 75 tcf with scalable offshore development expending up to 50 MTPA Location and Cost Advantage Close…
  34. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 34
    America: Mexico, Brazil and Canada -- Entry into high potential petroleum province at exploration phase -- Gulf of Mexico, Mexico Canada Oil Sands PTTEPs Block: Block 12 (20%) and Block 29 (16.67%), as non-operating partner Location:…
  35. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 35
    LNG Value Chain Investment : MLNG Train 9 First step into midstream LNG business in strategic area of focus 10% Investment in MLNG Train 9 by PTT Global LNG. MLNG Train 9 Overview Location Bintulu, Sarawak, Malaysia .continue to look…
  36. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 36
    New Business Opportunities Expand value chain, create innovation and step towards long-term sustainability Integrated Energy Solution Cutting Edge Technology Gas to Power for E&P and more UAV E&P Pipeline Power Plant Aerial…
  37. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 37
    Project information 1/4 Production phase: Thailand and JDA Project Status* PTTEPs Partners 6M2019 Average Sales Volume ** 2019 Key Activities Share (as June 2019) Gas Oil and Other Production Phase Thailand and JDA Ensure gas…
  38. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 38
    Project information 2/4 Production phase: Overseas Project Status* PTTEPs Partners 6M2019 Average Sales Volume ** 2019 Key Activities Share (as of June 2019) Gas Oil and Other Production Phase Apico**** 35% Condensate: 289 BPD Ensure…
  39. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 39
    Project information 3/4 Exploration/Development phase Project Status* PTTEPs Share Partners 2019 Key Activities (as of June 2019) Exploration/Development Phase Thailand and JDA 23 G9/43 OP 100% - The PSC signing on 25 February 2019…
  40. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 40
    Project information 4/4 Exploration/Development phase Project Status* PTTEPs Share Partners 2019 Key Activities (as of June 2019) Exploration/Development Phase Overseas PTTEP Australasia 90%-100% (varied Completed Montara Field…
  41. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 41
    Projects from Newly Acquired Malaysian Assets 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…
  42. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 42
    Projects from Newly Acquired Malaysian Assets 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 Petronas 20% Expected first gas…
  43. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 43
    Projects from Partexs Acquisition Project Details (1/2) Country Project Working Interest Type of Asset/ 2018 Total 2018 Net Sale Status Production volume volume Government of Oman 60% Shell 34% Upstream Oil 610,000 BPD 12,200 BPD 1…
  44. 2Q 2019 Financial Results and Strategy Update – PTTEP – slide 44
    Projects from Partexs Acquisition Project Details (2/2) Country Project Working Interest Type of Asset 2018 Total Production 2018 Net Sale volume volume ADNOC* 68% Midstream Gas Shell 15% N/A N/A 5 United Arab Emirates AGP…
  45. 2Q 2019 Financial Results and Strategy Update – 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…
  46. 2Q 2019 Financial Results and Strategy Update – 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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