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Investor Presentation – PEMEX

PEMEX · Jul 1, 2011 · 36 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
    Pemex Outlook July 2011
  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 the…
  3. Investor Presentation – PEMEX – slide 3
    Content PEMEXs Strategy Hydrocarbon Reserves Production Downstream Financial Highlights Key Investment Considerations 5
  4. Investor Presentation – PEMEX – slide 4
    Context A solid investment portfolio Ample experience and knowledge of the Mexican petroleum basins Access to a considerable amount of 3P and prospective resources Sole producer of crude oil, natural gas and refined products in…
  5. Investor Presentation – PEMEX – slide 5
    Goals Increase crude oil production: Increase production from 2,576 Mbd to 2,650-2,750 Mbd by 2014 Reach 3,000 Mbd by 2018 Reach a 1P reserve replacement rate of 100% in 2012 and forward Achieve crude oil production from new…
  6. Investor Presentation – PEMEX – slide 6
    Content PEMEXs Strategy Hydrocarbon Reserves Production Downstream Financial Highlights Key Investment Considerations 8
  7. Investor Presentation – PEMEX – slide 7
    Reserves and Prospective Resources Total Reserves by Area as of January 1, 2011 MMMboe (billions barrels of oil equivalent) Basin 3P(1) 2P(1) 1P(1) Basin Production Burgos and Sabinas 0.8 0.6 0.4 Oil and Gas Deep-waters 0.4 0.2 0.1 Gas…
  8. Investor Presentation – PEMEX – slide 8
    Main Discoveries Ayatsil-Tekel & Pit-Kayab: Most important discovery of heavy crude oil in recent years Giant complex with 1,623 MMboe of total (3P) reserves and 544 MMboe of proved reserves Located north of Ku-Maloob-Zaap…
  9. Investor Presentation – PEMEX – slide 9
    Historical Trend of the Reserves Replacement Rate MMboe 2,000 128.7% 102.1% 103.9% 1,500 59.7% 65.7% 1,000 56.9% 59.2% 85.8% 71.8% 77.1% 500 50.3% 41.0% 22.7% 26.4% 0 2004 2005 2006 2007 2008 2009 2010 Production 1P…
  10. Investor Presentation – PEMEX – slide 10
    Content PEMEXs Strategy Hydrocarbon Reserves Production Downstream Financial Highlights Key Investment Considerations 12
  11. Investor Presentation – PEMEX – slide 11
    Crude oil production 0.8% 0.2% 2,667 2,607 2,590 2,567 2,583 2,578 2,567 2,552 2,572 7% 7% 8% 8% 9% 10% 11% 12% 11% 28% 29% 30% 30% 30% 31% 32% 32% 32% 65% 64% 62% 62% 61% 58% 58% 57% 56% 1T09 2T09 3T09 4T09 1T10 2T10…
  12. Investor Presentation – PEMEX – slide 12
    Total Production has stabilized Other Assets 3,500 Other fields at Cantarell Akal field 3,000 2,576 2,500 2,000 1,500 1,000 500 - 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Production has stabilized and…
  13. Investor Presentation – PEMEX – slide 13
    Diversifying Away From Cantarell Production without Cantarell (Mbd) Development of Ku- Maloob-Zaap, Crudo Ligero 2005-2010 CAGR1: 9.2% Marino, Ixtal-Manik and 2,018 Delta del Grijalva partially Delta del G. offset the declination…
  14. Investor Presentation – PEMEX – slide 14
    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 8.0% Angola Cantarell 623 Iraq 6.4%…
  15. Investor Presentation – PEMEX – slide 15
    Production and F&D Costs Production Costs1 Finding and Development Costs2 USD 2010 / boe USD 2010 / boe 6.14 13.2 12.0 12.8 5.22 11.8 4.85 4.85 10.8 4.40 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 Production Costs3…
  16. Investor Presentation – PEMEX – slide 16
    First Tender: Mature Fields in the South Region In the Southern Region of the country, PEMEX has identified around 40 mature fields which have a high potential of reactivation. These fields may be grouped into eight blocks.…
  17. Investor Presentation – PEMEX – slide 17
    Execution Strategy Mature Fields, South Chicontepec Deep Waters and North Region Increase Execution Capacity First tender: March-August 2012 Second tender: 3Q & 4Q 2011 Reactivation of fields with Resources that require…
  18. Investor Presentation – PEMEX – slide 18
    Upstream Exploration Strategy: Deep Waters Prospective Geological Water depth Area resources Risk (meters) (MMboe) Perdido 1 1. Perdido Folded Belt Low-Moderate 2000 100-600 2 2. Oreos Moderate-High 800-2000 40-130 Southern…
  19. Investor Presentation – PEMEX – slide 19
    Deep Waters During 2004-2010 a total of 15 exploratory wells have been drilled in deep waters. 5 of these wells are hydrocarbon producers, and have allowed incorporation of reserves for more than 540 MMboe. Wells Incorporated…
  20. Investor Presentation – PEMEX – slide 20
    Content PEMEXs Strategy Hydrocarbon Reserves Production Downstream Financial Highlights Key Investment Considerations 22
  21. Investor Presentation – PEMEX – slide 21
    Current Downstream infrastructure Refinery Petrochemical complex Gas processing complex Point of sale Downstream infrastructure Pipeline Sea route Camargo Natural gas processing complex 11 Gas sweetening units 20 Cryogenic plants…
  22. Investor Presentation – PEMEX – slide 22
    Downstream Performance Gaps to Close Indicator PEMEX1 Benchmark2 Gap Energy Intensity Index 134.6 95.1(1) 140 % Distillate yield (%) 66.9 75.3(2) -8.4 % Unplanned 3.1 1.0 310 % downtime (%) Net income (loss) MMM Ps. PR PGPB…
  23. Investor Presentation – PEMEX – slide 23
    Downstream: Refining PEMEX elaborated and begun implementing a strategy to: Improve operational reliability, distillate yield, energy use & consumption, programming & planning, communication & logistics and eliminate redundancies…
  24. Investor Presentation – PEMEX – slide 24
    Downstream: Gas and Petrochemicals Increase gas processing infrastructure according to primary production (sweetening, NG liquids recovery, liquid fractionation, and sulfur recovery). Natural Capture the benefit associated with gas…
  25. Investor Presentation – PEMEX – slide 25
    Content PEMEXs Strategy Production Hydrocarbon Reserves Downstream Financial Highlights Key Investment Considerations 27
  26. Investor Presentation – PEMEX – slide 26
    1Q11 Financial Highlights Billion Pesos Billion Dollars 2010 2011 Change 2010 2011 Jan.-Mar. Jan.-Mar. Jan.-Mar. Jan.-Mar. Total revenue from 308 353 45 15% 24 29 sales and services Total revenue from sales and 328 381 53 16% 22 32…
  27. Investor Presentation – PEMEX – slide 27
    Investments (1)(2)(3)(4) (U.S. billion) 23.9 24.5 23.8 23.0 21.7 1.0% Pemex- 20.8 20.9 Petroqumica 18.6 1.82 2.7 18.1 Pemex-Gas y 2.0% Petroqumica 15.6 Bsica 13.8 Pemex- 12% Refinacin 19.4 19.6 Pemex- 85% Exploracin…
  28. Investor Presentation – PEMEX – slide 28
    Sources and Uses of Funds 2011 Sources Uses 8.1 37.1 23.9 Exchange Rate 11.9613 Production 2,548 mbd Average Price 100.18 19.3 Net Indebtedness: 1.5 0.4 6.5 9.4 6.6 Initial Cash * Resources from Financing Total Total…
  29. Investor Presentation – PEMEX – slide 29
    Financing Program 2011 Amount 2011E Financing Program Raised Source (U.S. (Billion) billion) 100% = 8.1 billion U.S. Dollars International Markets 3.1 U.S.1.25 Dollars 2.0 U.S.1.25 19% 13% Other 1.1 Currencies/Markets…
  30. Investor Presentation – PEMEX – slide 30
    Content PEMEXs Strategy Production Hydrocarbon Reserves Downstream Financial Highlights Key Investment Considerations 32
  31. Investor Presentation – PEMEX – slide 31
    Key Investment Considerations Stable production over 2.5 MMbd, with upside potential Reserves replacement rate in line with the 100% goal for 2012 Improved regulatory framework shifting PEMEX towards a corporate business model…
  32. Investor Presentation – PEMEX – slide 32
    Mexico Snapshot Solid Investment Environment Nominal GDP International Reserves US Trillion US Billion 1.4 140 US130 B US1.11 T 120 1.2 1.0 100 0.8 80 Growth is 60 0.6 recovering 0.4 40 International 0.2 20 reserves have…
  33. Investor Presentation – PEMEX – slide 33
    PEMEX Snapshot PEMEXs ranking 1: 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 refining…
  34. Investor Presentation – PEMEX – slide 34
    Investor Relations (+52 55) 1944 - 9700 ripemex.com www.pemex.com 36
  35. Investor Presentation – PEMEX – slide 35
    PEMEXS Composition of Debt as of March 31, 2011 By Currency By Interest Rate UDIS Pesos 3% 18% Euro Floating 9% 46% British Pound Total Debt as of March 31, 2011 2% US54.0 billion Yen Fixed 4% 25.0 54% Documen ted debt in…
  36. Investor Presentation – PEMEX – slide 36
    Debt Portfolio Maturity Profile Consolidated Debt US Billion Total Debt as of March 31, 2011 US54.0 billion 6.0 5.9 5.8 5.7 4.4 4.4 4.2 3.6 3.3 3.2 2.5 2.0 1.4 0.7 0.5 0.3 - - 2011 2012 2013 2014 2015 2016 2017 2018…

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