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…
Content Achievements Challenges Results 5
Achievements 2008 Business Operational Investment Reform Plan Program Program Stabilization of Production Diversified projects Increase Reserve Replacement Rate New Business Models in place Improved Exploitation Strategy at…
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 2012 E 2010 2011 PEF 2010 PEF 2011 Significant operational efforts have been made…
Cantarell declines according to plan, partially offset by other fields Mbd 2,500 Cantarell Actual Forecast CAGR1:9% 2,000 1,500 Production w/o Cantarell 1,000 Accumulated production 1997-2010 Estimated: 7,969 MMb 500…
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…
Sustained Increase of the Reserve Replacement Rate 1P Reserve Replacemet Rate 150% 101.1% The 100% 1P Reserve 100% 77.1% 85.8% Replacement Rate 71.8% 50.3% was reached a year 41.0% in advance. 50% 22.7% 26.4% 0% 2005 2006 2007…
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…
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…
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.…
New Business Models - Downstream Project Deer Park PEMEX Mexichem Partner 1. Joint Venture 1. Joint Venture PEMEXs 2. Crude supply 2. Fixed assets Participation 3. Supply of raw materials Refine Mexican heavy crude…
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…
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…
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 =…
Content Achievements Challenges Results 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…
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…
2nd Round: Mature Fields Northern Region PEMEX has identified 22 mature fields in the Northern Region with high recovery potential. The fields have been grouped into 6 blocks: Altamira, Pnuco, Tierra Blanca, San Andrs, Arenque and…
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…
Activities in Deepwaters Cinturn 3D seismic Cinturn Plegado Subsalino Perdido Salina del Bravo Cinturn Plegado Oreos Perdido Total investment 2002-2011: 46 billion pesos 3.6 billion USD Abisal Golfo de Cordilleras…
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…
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…
Content Achievements Challenges Results
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…
Expected Sources of Uses of Funds 2012 U.S. billion Sources Uses 10.1 23.6 36.6 19.8 6.0 6.7 7.0 Initial Cash Resources from Financing Total Total Investment Debt Payments Final Cash operations (CAPEX) 6.7 Net…
Approved Financing Program 2012 Amount Amount Financing Program 2012E Source MXN Billion USD Billion 100% = 10.1 Billion Dollars/128.9 Billion Pesos International Markets 51 4.0 Dollars 38 3.0 1.9% Other Markets 13 1.0 Domestic…
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…
Without Cantarell, Mexicos production growth tops any other crude oil producer in the world CAGR 2005-2010 Incremental barrels 2005-2010 Mbd 9.2% Mexico without Cantarell 720 Mexico without Cantarell 8.0% Angola 623 Iraq 6.4%…
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…
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…
Production and F&D Costs Production Costsa Finding and Development Costsb,c USD 2010 / boe USD 2010 / boe 6.16 13.2 12.0 12.8 4.72 4.85 5.22 11.8 4.13 10.8 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 Production Costs1…
Execution Strategy Mature Fields Southern and Mature Fields Northern Region Deep Waters Northern Regions and Chicontepec Increase Capacity Execution 2011 2012 Beyond 2012 1st round: Awarded in August 2011. Awarding of the 2nd…
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