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Thailand Focus 2019 – PTTEP

PTTEP · Aug 29, 2019 · 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. Thailand Focus 2019 – PTTEP – slide 1
    Investor Presentation Thailand Focus 2019, Bangkok August 2019
  2. Thailand Focus 2019 – PTTEP – slide 2
    Strategy and Growth Recent Development Financial Performance Five-Year Plan and Aspiration
  3. Thailand Focus 2019 – PTTEP – slide 3
    PTTEP: the E&P Flagship of PTT Group Plays a pivotal role in Thailands oil and gas production Largest oil and gas producer in As PTTs Upstream Flagship Thailand and Myanmar Government of Thailand Synergy with PTTs gas value chain…
  4. Thailand Focus 2019 – PTTEP – slide 4
    PTTEPs Vision and Strategy 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…
  5. Thailand Focus 2019 – PTTEP – slide 5
    Strategy and Growth Recent Development Financial Performance Five-Year Plan and Aspiration
  6. Thailand Focus 2019 – PTTEP – slide 6
    Recent Key Achievement Robust performance 1H Performance Achievement Recent Portfolio Highlights Resilient average selling price Expand Focus growth in strategic areas : Coming-Home and Strategic Alliance 47 /BOE Strong sales…
  7. Thailand Focus 2019 – PTTEP – slide 7
    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…
  8. Thailand Focus 2019 – PTTEP – slide 8
    Malaysian Assets A new growth platform for PTTEP in South East Asia Exploration Success in SK410B With completion of Murphy's acquisition, PTTEP has become Significant resources discovery in June 2019, estimated 2-4 TCF the 3rd…
  9. Thailand Focus 2019 – PTTEP – slide 9
    Acquisition of Partex Partnering with experienced operators in the Middle East PTTEP to acquire 100% of the shares in Partex, with total consideration of approximately USD 622 million* The major assets are in Oman and UAE which include…
  10. Thailand Focus 2019 – PTTEP – slide 10
    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…
  11. Thailand Focus 2019 – PTTEP – slide 11
    Strategy and Growth Recent Development Financial Performance Five-Year Plan and Aspiration
  12. Thailand Focus 2019 – PTTEP – slide 12
    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…
  13. Thailand Focus 2019 – PTTEP – slide 13
    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…
  14. Thailand Focus 2019 – PTTEP – slide 14
    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…
  15. Thailand Focus 2019 – PTTEP – slide 15
    Strategy and Growth Recent Development Financial Performance Five-Year Plan and Aspiration
  16. Thailand Focus 2019 – PTTEP – slide 16
    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…
  17. Thailand Focus 2019 – PTTEP – slide 17
    PTTEPs Aspired Portfolio in 2030 Target for sustainable growth 2030 5% CAGR on Production Target 7 years of R/P Ratio FID Projects GRC HPO SVC Sustainable Development Framework 18
  18. Thailand Focus 2019 – PTTEP – slide 18
    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
  19. Thailand Focus 2019 – PTTEP – slide 19
    Supplementary information Q2 2019 Financial Results 21-26 Sustainability Development 27 Thailand Energy Updates 28-30 Reserves at the Year-end 2018 31 Exploration Plan in 2019 32 Key Project Highlights by Region 33-42…
  20. Thailand Focus 2019 – PTTEP – slide 20
    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…
  21. Thailand Focus 2019 – PTTEP – slide 21
    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…
  22. Thailand Focus 2019 – PTTEP – slide 22
    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…
  23. Thailand Focus 2019 – PTTEP – slide 23
    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…
  24. Thailand Focus 2019 – PTTEP – slide 24
    Cash Flows : January June 2019 Healthy operating cash flow with net cash position Unit : MMUSD Operating 1,310 CAPEX & Investment (928) Income before tax & non-cash 2,205 CAPEX (PP&E, Intangible asset) (609) adjustment Tax payment…
  25. Thailand Focus 2019 – PTTEP – slide 25
    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…
  26. Thailand Focus 2019 – PTTEP – slide 26
    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…
  27. Thailand Focus 2019 – PTTEP – slide 27
    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 6M 2019 Domestic Myanmar LNG…
  28. Thailand Focus 2019 – PTTEP – slide 28
    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…
  29. Thailand Focus 2019 – PTTEP – slide 29
    Thailands Oil and Gas Balance Oil Balance*** Natural Gas Balance**** Maintains stability supply through adequate refining capacity Main driver of the Thailand economy Import (82%) Indigenous (18%) Gulf of Thailand (66%) Onshore(2%)…
  30. Thailand Focus 2019 – PTTEP – slide 30
    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…
  31. Thailand Focus 2019 – PTTEP – slide 31
    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…
  32. Thailand Focus 2019 – PTTEP – slide 32
    Diversified international portfolio Thailand Oil sands PTTEPs core production base 80% 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)…
  33. Thailand Focus 2019 – PTTEP – slide 33
    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…
  34. Thailand Focus 2019 – PTTEP – slide 34
    Summary of Terms from Bidding Result of Bongkot and Erawan and PSC Model (1/2) 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…
  35. Thailand Focus 2019 – PTTEP – slide 35
    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,…
  36. Thailand Focus 2019 – PTTEP – slide 36
    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…
  37. Thailand Focus 2019 – PTTEP – slide 37
    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…
  38. Thailand Focus 2019 – PTTEP – slide 38
    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…
  39. Thailand Focus 2019 – PTTEP – slide 39
    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:…
  40. Thailand Focus 2019 – PTTEP – slide 40
    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…
  41. Thailand Focus 2019 – PTTEP – slide 41
    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…
  42. Thailand Focus 2019 – PTTEP – slide 42
    Project information 1/3 PTTEPs Partners 6M2019 Average Sales Volume ** Project Status* Phase 2019 Key Activities Share (as June 2019) Gas Oil and Other Thailand and JDA Ensure gas deliverability level at DCQ*** Chevron 16% 1 Arthit…
  43. Thailand Focus 2019 – PTTEP – slide 43
    Project information 2/3 PTTEPs Partners 6M2019 Average Sales Volume ** 2019 Key Activities Project Status* Phase Share (as of June 2019) Gas Oil and Other Thailand and JDA Apico**** 35% Condensate: 289 BPD Ensure gas deliverability…
  44. Thailand Focus 2019 – PTTEP – slide 44
    Project information 3/3 Project Status* Phase PTTEPs Share Partners 2019 Key Activities (as of June 2019) Overseas OP Transition plan for operation of the newly acquired blocks Production/ (except 6.4-80% Sarawak SK410B - Drilled 1…
  45. Thailand Focus 2019 – PTTEP – slide 45
    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…
  46. Thailand Focus 2019 – PTTEP – slide 46
    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…
  47. Thailand Focus 2019 – 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…
  48. Thailand Focus 2019 – 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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