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Investor Presentation – PEMEX

PEMEX · Jun 1, 2012 · 47 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. Investor Presentation – PEMEX – slide 1
    Investor Presentation June 2012
  2. Investor Presentation – PEMEX – slide 2
    Forward-Looking Statement and Cautionary Note (2/3) Fiscal Regime Since January 1, 2006, PEMEX has been subject to a new fiscal regime. Pemex-Exploration and Productions (PEP) tax regime is governed by the Federal Duties Law, while…
  3. Investor Presentation – PEMEX – slide 3
    Content Achievements Challenges Results 5
  4. Investor Presentation – PEMEX – slide 4
    Achievements 2008 Business Operational Investment Reform Plan Program Program Stabilization of production Diversified projects Increase reserve replacement rate New business models Improved exploitation strategy at…
  5. Investor Presentation – PEMEX – slide 5
    Production Aligned to Goals Mbd 2,500 2,550 2,560 2,607 2,578 2,567 2,552 2,572 2,558 2,525 2,547 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 2012E 2010 2011 PEF 2010 PEF 2011 Significant operational efforts have been made…
  6. Investor Presentation – PEMEX – slide 6
    Cantarell declines according to plan, partially offset by other fields Mbd 2,500 Cantarell Actual CAGR1:7.9% Forecast 2,000 1,500 Production w/o Cantarell 1,000 500 0 1997 1999 2001 2003 2005 2007 2009 2011 (1)…
  7. Investor Presentation – PEMEX – slide 7
    Exploitation Investment Million Pesos 240,000 Cantarell vs. Other Projects 200,000 Other From 2006 to 2011, Projects Delta del Cantarell 160,000 Grijalva represented about AJB 21% of total 120,000 CLM exploitation ATG…
  8. Investor Presentation – PEMEX – slide 8
    Sustained Increase of the Reserve Replacement Rate Reserves Replacement Rate 140% 128.7% 120% 102.1% 103.9% 107.6% 100% 101.1% The 100% 1P Reserve 80% 59.2% 59.7% 65.7% 56.9% 85.8% Replacement Rate 60% 71.8% 77.1% Goal was reached…
  9. Investor Presentation – PEMEX – slide 9
    Reserves and Prospective Resources Total Reserves by Area Producing Basin Oil and Gas as of January 1, 2012 Gas MMMboe (billion barrels of oil equivalent) Basin 3P1 2P1 1P1 Burgos and Sabinas 0.8 0.6 0.4 Deep-waters 0.7 0.2 0.1…
  10. Investor Presentation – PEMEX – slide 10
    Main Discoveries 2006-2011 3P Reserves (Million barrels of oil equivalent) Heavy oil Tsimin 1,137.9 Light oil Gas Xux 836.0 Kayab 756.4 Ayatsil 596.1 Main discoveries 2011 Pit 375.9 Kinbe Located in the Gulf of Mxico, 22 meters…
  11. Investor Presentation – PEMEX – slide 11
    Improved Exploitation Strategy at ATG/Chicontepec Field Laboratories Sector 1 5 Field Labs Other Activities Coyotes Focused on value creation Sector 3 Sector 2 Improved well Sector 5 productivity Sector 4 Enhanced recovery…
  12. Investor Presentation – PEMEX – slide 12
    New Business Models Upstream Successful 1st Round: Southern Region Max. Rate Offered Rate Min. Investment Field Company US/b US/b USMM Magallanes Petrofac Facilities Mngt. Ltd. 9.78 5.01 205.5 Santuario Petrofac Facilities Mngt.…
  13. Investor Presentation – PEMEX – slide 13
    New Business Models - Downstream Project Deer Park Gas Pipelines PEMEX Mexichem Partner 1. Joint Venture PEMEXs 1. Joint Venture 2. Fixed assets 1. Joint Venture Participation 2. Crude Supply 3. Supply of raw materials…
  14. Investor Presentation – PEMEX – slide 14
    Improved Purchase and Acquisitions Processes (1/2) Greater negotiation Comprehensive power analysis of supply and demand Recognize and seize market opportunities Short, medium and long term Better contracting terms execution…
  15. Investor Presentation – PEMEX – slide 15
    Improved Purchase and Acquisitions Processes (2/2) Cash Savings1 Purchase VS Financial Lease 25% Fleet New Contract Savings1 Traditional Design 18% - 20% Rent Savings1 Financial Lease Platforms 35% Average Consumption…
  16. Investor Presentation – PEMEX – slide 16
    Sustainability and Environmental Protection Accumulated CO2 emission PEMEX Total CO2 emission mitigation goal1 from 2009 mitigation from 2009 to 2012 = 9.94 MMton 2011 = 14.4 MMton 900 MTCO2 e/year CO2 Emissions (MMton) Nuevo =…
  17. Investor Presentation – PEMEX – slide 17
    Content Achievements Challenges Results 19
  18. Investor Presentation – PEMEX – slide 18
    Challenges Crude oil production levels Operational and technological improvements Stronger operational processes New Rounds of Production Shale Integrated Deep Waters Growth Resources Contracts New Exploration…
  19. Investor Presentation – PEMEX – slide 19
    Increase Production: Crude Oil Mbd 3,000 Incremental 5 Exploration Production for 2014 Range(Mbd) 3 4 Integrated 2,500 Exploration contracts Ku-Maloob-Zaap 2 45 - 50 Ku-Maloob- Tsimin Xux 2,000 Zaap ATG Ayatsil Cantarell Tekel…
  20. Investor Presentation – PEMEX – slide 20
    Strategy for Shallow Waters and Onshore Regions Light Crude Oil Heavy Crude Oil The strategy will be focused on the Southeastern Basins, including both the marine and onshore portions: Execute activities to identify the Cuenca…
  21. Investor Presentation – PEMEX – slide 21
    2nd Round: Mature Fields Northern Region 22 fields in 6 blocks in Mexicos Northern Region. The Contracts were approved by the Board of Directors on November 2011. Prospective resources of approximately 1,672 MMboe along 6,691 km2.…
  22. Investor Presentation – PEMEX – slide 22
    Potential Shale Resources PEMEX has identified 5 geological provinces with shale gas potential: Chihuahua Sabinas-Burro-Picachos Burgos Chihuahua Tampico-Misantla Eagle Ford Shale Gas Veracruz Texas Burro Picachos PEMEX…
  23. Investor Presentation – PEMEX – slide 23
    Activities in Deepwaters Cinturn 3D seismic Cinturn Plegado Subsalino Perdido Salina del Bravo Cinturn Plegado Oreos Perdido Total investment 2002-2011: 49 billion pesos 3.6 billion USD Abisal Golfo de Cordilleras…
  24. Investor Presentation – PEMEX – slide 24
    Industrial Processes Operational, administrative Capture Economic Refining and structural Opportunities improvements Expand the Increase Gas and Basic pipeline network processing and in the northern transportation…
  25. Investor Presentation – PEMEX – slide 25
    Refining: Operational Performance Improvement Program (MDO) 230 opportunities identified in 4 out of 6 worth 1.2 billion USD when fully captured refineries No. Of opportunities Million USD per annum Conceptual 85 Conceptual 0 stage…
  26. Investor Presentation – PEMEX – slide 26
    Content Achievements Challenges Results 28
  27. Investor Presentation – PEMEX – slide 27
    2011 Financial Highlights Billion Pesos Billion Dollars 2010 2011 Change 2010 2011 Total revenue from sales and 1,282.1 1,558.4 21.6% 103.8 111.4 services Total revenue from sales and 1,355.6 1,737.3 28.2% 109.7 124.2 services…
  28. Investor Presentation – PEMEX – slide 28
    Investment Budget U.S. Billion Dollars 30.4 30.0 28.7 27.3 23.2 1.0% Pemex- 20.8 Petrochemicals 18.6 19.1 2.8 18.1 Pemex-Gas and 15.6 2.0% Basic 13.8 Petrochemicals 12% Pemex- 20.1 Refining Pemex- 85% Exploration and…
  29. Investor Presentation – PEMEX – slide 29
    Expected Sources and Uses of Funds 2012 U.S. Billion Dollars Price: 106.85 USD/b Exchange rate: Ps. 12.96/USD Crude oil production: 2,597 Mbd Crude oil exports: 1,176 Mbd Natural gas production: 6.16 MMcfd Sources Uses 8.1…
  30. Investor Presentation – PEMEX – slide 30
    Approved Financing Program 2012 Amount Amount Financing Program 2012E Source MXN USD Billion Billion 100% = 8.1 billion dollars /106 billion pesos International Markets 52 4.0 Dollars 39 3.0 2.4% Other Markets 13 1.0 Domestic…
  31. Investor Presentation – PEMEX – slide 31
    Investor Relations (+52 55) 1944 - 9700 ripemex.com www.pemex.com
  32. Investor Presentation – PEMEX – slide 32
    PEMEX Snapshot PEMEX ranking globally1: Credit rating: 4th crude oil producer Fitch: BBB Stable 11th integrated oil company Moodys: Baa1 Stable 11th in crude oil reserves S&P: BBB Stable 15th in natural gas production 13th in…
  33. Investor Presentation – PEMEX – slide 33
    The production increase coming from other fields beats other crude oil producer countries performance Excluding Cantarell, crude oil production growth in Mexico outperforms levels reached by other important crude oil producer…
  34. Investor Presentation – PEMEX – slide 34
    Production and F&D Costs Production Costsa,b Finding and Development Costsc,d USD 2011 / boe USD 2011 / boe 16.13 6.44 6.12 13.48 13.24 12.17 12.48 5.10 5.09 5.38 11.27 4.88 2006 2007 2008 2009 2010 2011 2006 2007 2008 2009 2010…
  35. Investor Presentation – PEMEX – slide 35
    1P Reserve Replacement 1P reserve incorporation by type (Mmboe) 2010 2011 2012 1P Reserve Replacement Rate 77.1% 85.8% 101.1% 2012 89% 11% Northeastern Marine 585.8 125.0 385.9 2011 81% 19% Cantarell -365.0 -101.9 1.8 Ku-Maloob-Zaap…
  36. Investor Presentation – PEMEX – slide 36
    Reserves Evolution Reserves as of January 1 of Each Year Possible Billion barrels of crude oil equivalent (MMMboe) Probable 56.2 Proved 53.0 50.0 48.0 11.3 10.3 46.9 46.4 45.4 44.5 13.0 43.6 43.1 43.1 43.8 13.1 13.4 14.2 14.6…
  37. Investor Presentation – PEMEX – slide 37
    Secondary Recovery and Enhanced Oil Recovery: key factors to reverse production decline and increase recovery factors per field Test fields (Analogous) Pilots 3P Original Oil In Place related to SR and EOR (MMmboe) A Foamy…
  38. Investor Presentation – PEMEX – slide 38
    New developments will yield additional production Baksha-Pit 3P reserves Tekel Name Fluid Type Ayatsil (MMboe) Light Oil Xux-Tsimin 1,947 (43API) Heavy Oil Ayatsil-Tekel 757 (12API) Tsimin Heavy Oil Pit- Baksha 504…
  39. Investor Presentation – PEMEX – slide 39
    Deepwater Drilling 2004 2005 2007 2008 2009 2010 2011 Chuktah-201 512 m Puskn-1 Nab-1 624 m 680 m Etbakel-1 681 m Kabilil-1 Tamil-1 740 m 778 m Lalail-1 Noxal-1 805 m Leek-1 935 m 851 m Lakach-1 Chelem1 810 m…
  40. Investor Presentation – PEMEX – slide 40
    Deepwater Drilling 2004 - 2012 No. of locations 1,000 m 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Chuktah-201 3 10 48 512 Water depth (meters) Tamil-1 Puskn-1 Nab-1 Etbakel-1 600 680 778 681 Lalail-1 Kabilil-1 805…
  41. Investor Presentation – PEMEX – slide 41
    Profitability 2011 (USMM) Exxon Royal Dutch Shell Statoil BP Chevron Petrobras PEMEX Total Sales 433,526.00 470,171.00 115,281.98 375,517.00 236,286.00 146,294.36 111,393.00 Gross Income 71,168.00 73,669.00 58,211.42 61,954.00 44,260.00…
  42. Investor Presentation – PEMEX – slide 42
    1Q12 Financial Results Billion Pesos Billion Dollars 1Q11 1Q12 Variation 1Q11 1Q12 Total revenue from sales and 352.7 411.3 16.6% 29.5 32.0 services Gross Income 184.0 221.4 20.4% 15.6 17.2 Operating Income 191.5 247.7 29.3% 13.7…
  43. Investor Presentation – PEMEX – slide 43
    Sources and Uses of Funds 2011 Average Exchange Rate: 12.4253 /USD Production: 2,553.4 Mbd Average Price: 101.05 USD/BL Net Indebtedness: 1.7 billion USD Internal: 0.5 billion USD External: 1.2 billion USD Sources Uses 36.0 8.1…
  44. Investor Presentation – PEMEX – slide 44
    External and Structural Effects Million pesos Total Amount 2011 Opportunity cost of the sale of LPG in the domestic Subsidy of market. It is the difference between the international = 39,950 LPG reference price and the maximum price…
  45. Investor Presentation – PEMEX – slide 45
    PEMEXS Debt Evolution Debt Outstanding Consolidated Debt1 US Billion Outstanding at the end of each year 58.3 53.2 55.3 52.2 49.8 47.9 46.1 42.8 2005 2006 2007 2008 2009 2010 2011 20122 (1) Does not include accrual…
  46. Investor Presentation – PEMEX – slide 46
    Debt Portfolio Maturity Profile Consolidated Debt * Total Debt as of December 31, 2011 U.S.55.3 billion 13.2% 12.1% 11.2% 10.5% 8.7% 8.1% 7.4% 6.5% 6.1% 5.8% 5.4% 2.3% 1.3% 0.9% 0.5% 0.0% 0.0% 2012 2013 2014 2015…
  47. Investor Presentation – PEMEX – slide 47
    Composition of Debt Total Debt as of December 31, 2011 U.S.55.3 billion By Currency of Issuance* Swiss By Interest Rate Francs Pesos 1% 15% Yens Dollars 4% 65% Flotante Fija British 40% Pounds 60% 2% UDIS 3% Euros 10%…

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