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UBS INVESTOR TRIP – Novatek

Novatek · Apr 10, 2014 · 39 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. UBS INVESTOR TRIP – Novatek – slide 1
    Harnessing the Energy of the Far North Mark Gyetvay, Chief Financial Officer and Member of the Board Chief Financial Officer and Member of the Board UBS Investor Trip New York and Boston 8 10 April 2014
  2. UBS INVESTOR TRIP – Novatek – slide 2
    Fields and License Areas NOVATEK producing fields Other NOVATEK fields Purovsky Plant Gas condensate piplene from Yamal-Nenets Autonomous the Yurkharovskoye field to Region one of the the Purovsky plant worlds largest natural…
  3. UBS INVESTOR TRIP – Novatek – slide 3
    Positions in the World Proved gas reserves as at 31.12.13 (SEC), bcm Gas production in 2013, bcm Gazprom 19 196 Gazprom 487 ExxonMobil 2 035 ExxonMobil 145 Petrochina 1 963 Shell 99 NOVATEK 1 740 4 BP 83 Rosneft 1 329…
  4. UBS INVESTOR TRIP – Novatek – slide 4
    Low Cost Base and High Profitability 3-year average reserve replacement costs (2010-2012), USD/boe PICAGR Production (net income to capital expenditures), 2009-2013 (2008-2012) NOVATEK (2011-2013) 2,0 NOVATEK 1,8 BG GROUP 14,4…
  5. UBS INVESTOR TRIP – Novatek – slide 5
    Leading Growth at Lowest Cost EBITDA CAGR (2009-2013) CAPEX/EBITDA (2009-2013) EOG 49% NOVATEK 0,5 NOVATEK 32% SWE 0,7 ANADARKO 27% APACHE 0,7 PIONEER 23% BG GROUP 0,9 APACHE 18% ENCANA 1,0 BG GROUP 13% ANADARKO…
  6. UBS INVESTOR TRIP – Novatek – slide 6
    EBITDA per BOE of Production EBITDA structure of NOVATEK, USD per boe EBITDA per boe and production in 2013 10 45 9 8.7 EOG Apache 40 8 7.6 7.6 35 7 6.8 BG Pioneer PEER Anadarko 30 AVERAGE EBITDA per boe, USD 6 5.3 46%…
  7. UBS INVESTOR TRIP – Novatek – slide 7
    2013 Results
  8. UBS INVESTOR TRIP – Novatek – slide 8
    SEC Proved Reserves Reserve replacement ratio in 2013 132% Organic reserve replacement ratio 144% mmboe 1,290 634 12,394 12,537 12,537 12,537 12,537 (1,342) (439) Liquids Acquisitions: Others East-Tazovskoye field…
  9. UBS INVESTOR TRIP – Novatek – slide 9
    Hydrocarbon Production Growth Marketable natural gas production, bcm Marketable liquids production, mt 61.2 4,751 56.5 +8.4% 4,270 +11.3% 16.2 14.5 13.8 15.1 15.9 14.9 14.3 1157 1181 1194 1136 1240 13.1 1080 1042 991…
  10. UBS INVESTOR TRIP – Novatek – slide 10
    Development of Production Capacities Launch of the Eastern Dome of the North-Urengoyskoye field, developed by Nortgas JV, which allowed to increase production capacity of the field to more than 10 bcm of natural gas and 1.3 mmt of…
  11. UBS INVESTOR TRIP – Novatek – slide 11
    Value Chain PRODUCING FIELDS Natural gas by pipeline 100% TO DOMESTIC MARKET Separation and treatment Unstable gas condensate by pipeline Crude oil by PUROVSKY PLANT (11 mmtpa) UST- LUGA COMPLEX (6 mmtpa) pipeline…
  12. UBS INVESTOR TRIP – Novatek – slide 12
    Purovsky Plant Expansion Completed Year Stage Capacity First stage 2 mmt per annum 2005 1st and 2nd stabilization of de-ethanized technological trains condensate Second stage 3 mmt per annum 2008 3st and 4nd stabilization Total 5…
  13. UBS INVESTOR TRIP – Novatek – slide 13
    Ust-Luga Gas Condensate Fractionation and Transshipment Complex Completed Nameplate processing capacity 6 mmt of stable gas condensate per annum (2 trains of 3 mmt each) First train launched in June 2013, second train launched…
  14. UBS INVESTOR TRIP – Novatek – slide 14
    Integrated Technological Chain and Logistics Naphta (tankers with deadweight of up to 85 th. t) Barents sea Jet fuel (up to 35 th. t) Diesel (up to 35 th. t) Stable gas Heating/ship fuel (up to 15 th. t) condensate (up to 60 th.…
  15. UBS INVESTOR TRIP – Novatek – slide 15
    Financial Results 140,0 Normalized EBITDA1,RR bln 200% Internally Funded Investment Program 2,5 121,8 180% 2,3 120,0 80,0 160% 1,9 60,0 2,0 100,0 95,2 140% 1,7 1,7 85,4 88,5 40,0 120% 75,8 71,9 1,5 80,0 1,5 100% 20,0 44,9…
  16. UBS INVESTOR TRIP – Novatek – slide 16
    Targets for 2014 Launching the Urengoykoye, Yaro-Yakhinskoye fields and third stage of the Samburgskoye field of SeverEnergia Launching the North-Khancheyskoye field Increasing gas production by 7-8% y-o-y Increasing liquids…
  17. UBS INVESTOR TRIP – Novatek – slide 17
    Major Launches in 2014-2015
  18. UBS INVESTOR TRIP – Novatek – slide 18
    Fields of the SeverEnergia JV SeverEnergia blocks NOVATEK has recently increased its Other fields of NOVATEK stake in the JV from 25.5 to 59.8% NOVATEK gas condensate pipeline Yurkharovskoye 4 blocks with proved SEC reserves of…
  19. UBS INVESTOR TRIP – Novatek – slide 19
    Fields of the SeverEnergia JV: Urengoyskoye Field Geology and reserves Estimated production profile 16 Achimov deposits: depth 3,700 3,900 meters Plateau level of gas production pressure abnormally high 14 permeability low…
  20. UBS INVESTOR TRIP – Novatek – slide 20
    Fields of the SeverEnergia JV: Yaro-Yakhinskoye Field Geology and reserves Estimated production profile Valanginian deposits: 9,0 depth 3,000 3,300 meters Plateau level of gas production very compact location at the dome of 8,0…
  21. UBS INVESTOR TRIP – Novatek – slide 21
    Fields of the SeverEnergia JV: Samburgskoye Field Estimated production profile Geology and reserves 9 Valanginian deposits: depth 3,000 3,450 meters 8 initial condensate factor 150 gr. per cm Plateau level of gas production 7…
  22. UBS INVESTOR TRIP – Novatek – slide 22
    Yarudeyskoye Oil Field Geology and reserves Estimated oil production profile, mmt Sandstone reservoir: 4 depth 1,850 3,050 meters Plateau level of oil production 3,5 estimated average initial flow rates 450 tons per day per…
  23. UBS INVESTOR TRIP – Novatek – slide 23
    Other Launches in 2014-2015 Field Share Launch Peak production 0.7 bcm of gas, 1. Dobrovolskoye 100% 2014 0.15 mmt of condensate 2. North-Khancheyskoye 100% 2014 0.9 bcm of gas 2.15 bcm of gas, 3. Termokarstovoye 51%…
  24. UBS INVESTOR TRIP – Novatek – slide 24
    Yamal LNG
  25. UBS INVESTOR TRIP – Novatek – slide 25
    Yamal LNG Project Project for construction of an LNG plant on the Yamal Peninsula: Shareholders 2P PRMS gas reserves of the South-Tambeyskoye onshore conventional field at 31.12.13 - 927 bcm Total 20% Liquefaction capacity - 16.5…
  26. UBS INVESTOR TRIP – Novatek – slide 26
    Unrivalled Resource Potential of the Yamal Peninsula 27
  27. UBS INVESTOR TRIP – Novatek – slide 27
    Drilling Program Onshore Conventional Gas Five out of 19 well pads prepared for drilling Two rigs on-site, 3rd rig to start drilling in summer 2014 12 production wells drilled out of 58 wells required for the first train, of…
  28. UBS INVESTOR TRIP – Novatek – slide 28
    Selected Contractors Equipment Contractor EPC Technip/JGC 1. Cryogenic Heat Exchangers APCI 2. Turbine Cryogenic Compressors General Electric 3. Boil-Off Gas Compressors Siemens 4. Integrated Control & Safety System Yokogawa 5. Gas…
  29. UBS INVESTOR TRIP – Novatek – slide 29
    Construction Works Dredging Winter navigation MOF construction Airstrip Living camp 30
  30. UBS INVESTOR TRIP – Novatek – slide 30
    Shipping and Marketing Year-round to Europe Summer to Asia We have utilized the Northern Sea Route since 2010 to supply gas Winter to Asia condensate to Asia Average number of 8 sailing days Yamal LNG Trans- 8 shipment 12…
  31. UBS INVESTOR TRIP – Novatek – slide 31
    Northern Sea Route Ice conditions at the Northern Sea Route significantly softened during the last decade 21 condensate and naphtha cargoes (1.4 mmt) successfully delivered to the Asian-Pacific countries during navigational…
  32. UBS INVESTOR TRIP – Novatek – slide 32
    ARC7 Ice-Class LNG Carriers 15-16 ice-class tankers required for the project Slot reservation agreement concluded Order for the first tanker placed with ex-works delivery scheduled for 1H16 Shipping tender third stage…
  33. UBS INVESTOR TRIP – Novatek – slide 33
    Key Project Advantages Low-cost, long-lived feedstock Large onshore conventional reserve base with high concentration of reserves Well known geology and proven development technologies Very low F&D and lifting costs Convenient…
  34. UBS INVESTOR TRIP – Novatek – slide 34
    Appendix
  35. UBS INVESTOR TRIP – Novatek – slide 35
    Another Record Year (RR million) 2013 2012 +/(-) +/(-)% Oil and gas sales 297 499 210 246 87 253 41,5% Total revenues 298 158 210 973 87 185 41,3% Operating expenses (192 761) (125 775) (66 986) 53,3% EBITDA (1 ) 159 440 95 106 64 334…
  36. UBS INVESTOR TRIP – Novatek – slide 36
    Natural Gas Sales bcm Gas Sales Vologda Region Yamal-Nenets Autonomous Breakdown 2012 2013 Region(Ex-field Sales) 100% St. Petersburg Kostroma Region 2012 2013 0.0 2.2 2012 2013 2012 2013 18.1 7.1 90% 1.1 1.3 0.8 4.6 80%…
  37. UBS INVESTOR TRIP – Novatek – slide 37
    Liquids Sales 2013 Liquids sales Naphtha Jet fuel Diesel and fuel oil LPG Crude oil Stable gas condensate Liquids sales volumes, mmt 5.4 4.1 4.2 3.4 3.1 4.4 3.5 3.4 2.6 2.8 0.5 0.6 0.6 0.8 1.0 2009 2010 2011 2012…
  38. UBS INVESTOR TRIP – Novatek – slide 38
    Financial Position at 31 December 2013 Total Debt Maturity Profile (RR million) Debt Structure (Total Debt = RR 165.6 billion) 53,758 Fixed/floating 71% 29% USD/RUB 74% 26% 27,913 30,155 24,026 24,483 18,623 Long-term/…
  39. UBS INVESTOR TRIP – Novatek – slide 39
    Questions and Answers Contact details: NOVATEKs Investor Relations Mark Gyetvay, Chief Financial Officer Alexander Palivoda, Head of IR Tel: +7 (495) 730-6013 Email: irnovatek.ru Website: www.novatek.ru

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