2012 PTTEP Operating achievement and 2013 PTTEP Annual Work Plan

Mr. Tevin Vongvanich (นายเทวินทร์ วงศ์วานิช), the President and CEO of PTT Exploration and Production Public Company Limited or PTTEP announced the 2012 operating achievement and the Company's 2013 Annual work Plan in order to accomplish the Company's mission as Leading Asian E&P company driven by technology and green practices. 2012 Achievement 1. PTTEP preferential public offering PTTEP succeeded in selling of 650,000,000 newly issued ordinary shares at the offering price of 142 baht per share on December 17, 2012. After deducting the expenses related to the offering (excluding VAT and other applicable taxes), the company received the proceeds of approximately 91,624 million baht. 2. The new investment in Myanmar and East Africa In June 2012, PTTEP won 2 exploration blocks; PSC-G and EP-2 blocks, out of the eighteen blocks opened for the 2011 Myanmar Onshore Blocks Bidding Round since May 2012. Moreover, in August 2012, PTTEP successfully acquired the entire shares of Cove Energy Plc and became the partner in Rovuma Offshore Area 1 and other petroleum blocks in Mozambique and Kenya with other joint venture partners. 3. Strong Operational Performance Bongkot South the test run of processing facility started in March 2012. Since June 2012, the Bongkot South has produced gas at the rate of 320 MMSCFD as per the Daily Contractual Quantity (DCQ). S1 project the project increased the production volume to the highest rate at 35,176 BPD in 2012. However, the average production rate of 2012 is approximately 28,000 BPD. On 20 February 2013, S1 Project hit the new production rate at 36,690 BPD which is the highest rate of this project. Vietnam 16-1 project the project finished the second wellhead platform installation. Currently, the project produces crude oil at the rate of 55,000 BPD. PTTEP Australasia project the hook up and commissioning activities of this project are underway. The first oil production is expected on March 2013 with an estimated capacity between 25,000 to 30,000 BPD. Moreover, there is a plan to drill 1 well in this year. Algeria Hassi Bir Rekaiz Project the project had successful discovered crude oil from the six drilling wells. The flow test of 8th well is under process. Canada Oil Sands KKD project In Leismer area, the well pad 5 is expected to be ready for production by the fourth quarter of 2013. At the same time, there is a plan to increase production capacity from the Leismer Expansion area to 40,000 BPD. For Corner area, the Final Investment Decision (FID) will be accomplished at the end of 2014 - early 2015. Mozambique Rovuma Offshore Area 1 project the joint venture partners already awarded Front End Engineering Design (FEED) contracts for both onshore LNG (liquefied natural gas) construction and offshore installation. Moreover, Anadarko, the operator of Mozambique Offshore Area 1, reached Heads of Agreement (HOA) with Eni, the operator of Mozambique Offshore Area 4, establishing foundational principle for the coordinated development of the common natural gas reservoirs spanning both areas. The HOA is designed to facilitate the two operators for the coordination of offshore development activities along with the joint planning and construction of common onshore liquefaction facilities in the form of an LNG (liquefied natural gas) park at Cape Afungi, in Cabo Delgado Province of northern Mozambique. 2012 PTTEP Financial result For 2012 Financial result of PTTEP and its subsidiaries, The company posted a recurring net profit of USD 1,846 million (equivalent to 57,316 million baht), an increase of USD 378 million or 26% compared to its net profit of USD 1,468 million (equivalent to 44,748 million baht) in 2011. The return on shareholder’s equity was at 21.68%. In 2012, the total revenue of PTTEP and its subsidiaries was USD 7,021 million (equivalent to 218,137 million baht), an increase of USD 1,336 million or 24% compared to the revenue of USD 5,685 million (equivalent to 173,375 million baht) posted in the previous year. This increase was the result of the higher sales revenue thanks to the average sales price of USD 64.86 per barrel of oil equivalent (BOE), based on the increase of world oil price, when compared with USD 55.49 per BOE in 2011. Moreover, sales volume went up to 275,923 barrel of oil equivalent per day (BOED) compared with 265,047 BOED in 2011. Contributing to the increased sales were petroleum products from Bongkot South field, the Vietnam 16-1 Project, and S1 Project. The total proved reserves as of December 31, 2012 The total proved reserves (consolidated companies) as of December 31, 2012 of PTTEP and its subsidiaries in term of oil equivalent are 901 million barrels (MMBOE). Proved Reserves of crude and condensate are approximately 29% whereas natural gas are 71% of the total Proved Reserves in terms of oil equivalent. However, the reserves of hydrocarbon discoveries in Vietnam B & 48/95 project and Vietnam 52/97 project have been excluded from this amount since the Gas Sale Agreement (GSA) has not been inked. PTTEP 5-Year plan (2013 – 2017) According to PTTEP’s mission as leading Asian E&P Company driven by Technology competence and green process, PTTEP has set its strategy to support this mission by concentrating on using advanced technologies in operating assets. This will thus increase both production and proved reserves rate while control developing assets as planned and accelerate exploration process to prove petroleum potential in each project for further development. The Capital Expenditure and Operating Expenditure for the Company and its subsidiaries for the five-year period from 2013 to 2017 will be approximately USD 24,671 million. USD 5,809 million of PTTEP’s expenditure in 2013 will be used for many projects in the following activities: -To maintain production plateau of major projects such as Arthit project, Bongkot project, S1 project, Contract 4 project and MTJDA-B17 project. -To increase production from new projects such as PTTEP Australasia project, Zawtika project in Myanmar, Algeria 433a & 416b , Canada Oil Sands KKD project (the expansion of Leismer and Corner) to be on production by 2016 as well as the Mozambique Rovuma Offshore Area 1 project. -To find additional potential petroleum resources from major projects such as Myanmar M3 & M11 project, Algeria Hassi Bir Rekaiz project , and Exploration projects in Australia, Mozambique and Kenya. PTTEP look ahead for its investment in petroleum-riched countries such as Myanmar, Australia, North America and East Africa by considering the E&P investment opportunities which related to PTTEP’s strategy and considering takeover or Merger & Acquisition, as additional opportunities. -KPA-

• ข่าวPTT Exploration and Production
• ข่าวเทวินทร์ วงศ์วานิช
• ข่าวเทวินทร์ วงศ์
• ข่าวPTTEP
• ข่าวo:eco