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PTTEP is E&P company in Thailand, exploring for sustainable sources of petroleum for the countries we operate
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Investor Relations
SET Notification
Five – Year Investment Plan (Year 2018 – 2022)
19 December 2017
PTTEP 13061/00-10021/2017
Investor Relations Tel. 0-2537-5919, 0-2537-5304, 0-2537-5779, 0-2537-4446, 0-2537-4000 ext. 800-7374
Investor Relations Tel. 0-2537-5919, 0-2537-5304, 0-2537-5779, 0-2537-4446, 0-2537-4000 ext. 800-7374
19 December 2017
President
The Stock Exchange of Thailand
93 Ratchadapisek Road, Din Daeng
Bangkok 10400
Dear Sir,
Subject: Five – Year Investment Plan (Year 2018 – 2022)
PTT Exploration and Production Public Company Limited (PTTEP) would like to announce that the estimated total expenditure for PTTEP and its subsidiaries in 2018 is USD 3,103 Million, of which USD 1,332 Million is Operating Expenditure and the remaining USD 1,771 Million is Capital Expenditure. The following provides a breakdown of 2018 Capital Expenditure by region:
- Projects in Thailand account for 59% of PTTEP’s estimated Capital Expenditures in 2018. Key activity is to maintain the production level of the existing projects, which primarily include the Bongkot Project, the Arthit Project, the S1 Project, the Contract 4 Project and the MTJDA Project
- Projects in other Southeast Asia account for 32% of PTTEP’s estimated Capital Expenditures in 2018. Major activities in this region are mainly from Myanmar assets which include maintaining production level of the Zawtika Project, the Yadana Project and the Yetagun Project as well as expenditure for exploration activities of the Myanmar MOGE 3 Project and the Myanmar M11 Project
- Projects in other regions which comprise Australia, Africa, North and South America, account for 9% of PTTEP’s estimated Capital Expenditures in 2018. Major contributions are operational activities in PTTEP Australasia Project and development expenditures for the Mozambique Rovuma Offshore Area 1 Project which is now in the process of considering the Final Investment Decision (FID).
The estimated Exploration Expenditure for PTTEP and its subsidiaries in 2018 is USD 232 Million, mainly including drilling and appraisal activities for projects in Thailand, Myanmar, Malaysia and Australia as well as seismic acquisition and geological and geophysical studies.
PTTEP would also like to announce the investment plan for Year 2018 – 2022 which has already taken into account the Development Expenditures of pre-development projects including the the Mozambique Rovuma Offshore Area 1 Project, the Algeria Hassi Bir Rekaiz Project, the Vietnam Block B & 48/95 and Block 52/97 and the Contract 4 (Ubon) Project, and as per detailed below:
Unit: USD Million
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
2018-2022 |
|
Capital Expenditure |
1,771 |
1,717 |
2,071 |
1,935 |
1,486 |
8,980 |
|
Operating Expenditure |
1,332 |
1,252 |
1,201 |
1,223 |
1,561 |
6,569 |
|
Total Expenditure |
3,103 |
2,969 |
3,272 |
3,158 |
3,047 |
15,549 |
In correspondence with the aforementioned Five-Year investment plan, the expected average petroleum sales volume per day from the existing projects, excluding upside potential from the merger and acquisitions (M&A) and the winning of expiring concession bidding in Gulf of Thailand, for Year 2018 – 2022 are as follows:
Unit: Thousand Barrel of Oil Equivalent per day
|
|
2018 |
2019 |
2020 |
2021 |
2022 |
|
Expected Average Petroleum Sales Volume |
302 |
299 |
283 |
276 |
239 |
PTTEP places the great focus on enhancing the petroleum reserves, production growth in order to strengthen the competitiveness in the future. The company continues to actively seek investment opportunities through M&A, bidding for expiring concession in Gulf of Thailand as well as new exploration blocks in high potential areas and to accelerate key pre-development projects with expected majority of sales volume contributing from Year 2022 onwards. In addition, PTTEP strives to maintain low unit cost by optimizing the operational efficiency.
Sincerely yours,
Somporn Vongvuthipornchai
Somporn Vongvuthipornchai
Chief Executive Officer
PTT Exploration and Production Public Company Limited
555/1 Energy Complex Building A, Floors 19-36th
Vibhavadi-Rangsit Rd., Chatuchak, Chatuchak, Bangkok 10900
Vibhavadi-Rangsit Rd., Chatuchak, Chatuchak, Bangkok 10900
Phone : 66 (0) 2537-4000
Fax : 66 (0) 2537-4444
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Copyright © PTT Exploration and Production Plc. All Rights Reserved.