Pt Medco Energi Internasional Tbk · IDX:MEDC
Pt Medco Energi Internasional Tbk — Non-Deal Roadshow (February 2023)
25 slides from Pt Medco Energi Internasional Tbk's roadshow presentation, February 2023
Slide 1: PT Medco Energi Internasional Tbk
PT Medco Energi Internasional Tbk (IDX Ticker: MEDC)
Slide 2: Financial Data
Financial Data
Slide 3: Profit & Loss and Balance Sheet 9M-22
Profit & Loss (US$ M) 9M-21 9M-22 YoY ∆% Balance Sheet (US$ mn) 9M-21 9M-22 YoY ∆% Revenue 956 1,808 89 Cash and cash equivalents1 548 671 22 - Oil and gas 840 1,714 104 Investments 1,094 1,393 27 - Power 99 87 (12) Fixed Assets 2,235 3,180 42 - Others 17 7 (58) Total Assets 5,280 6,873 30 DDA (249)
Slide 4: E&P Capex and Power Capex
E&P Capex (US$ mn) Power Capex (US$ mn) Exploration Gas IPP Development Drilling Ijen & Other Geothermal Equipment/Facilities Solar PV & Other Renewables Gross 100% Capex 250 123 21 60 6 59 50 150 124 19 144 29 7 3 7 35 32 73 7 8 79 70 20 39 8 6 3 36 25 105 75 16 15 38 34 2020 2021 9M-22 2022 2020 2
Slide 5: Operational Data
Operational Data
Slide 6: Operational metrics, production and net 2P reserves
9M 9M YoY FY FY YoY Net 2P Reserves, MMBOE Metrics 2022 2021 ∆% 2021 2020 ∆% Production1 9M-22 Oil, MBOPD 33.8 35.0 (3.4) 34.4 40.4 (14.9) 2P RLI : 8.3x 5-yr 2P RRR :2.1x 125 5 480 Gas, MMSCFD 691.4 311.3 122.1 319.7 322.3 (0.8) 5-yr F&D3 : US$7.5/boe 107 389 38 1 Lifting/Sales 311 Oil Lifting, MBOP
Slide 7: Reserves and contingent resources as of September 30, 2022
As of September 30, 2022: Proved Reserves Proved & Probable Reserves Contingent Resources Oil Gas Total Oil Gas Total Oil Gas Total mbbls mmscf mboe mbbls mmscf mboe mbbls mmscf mboe Domestic West Indonesia 19,754 646,179 136,717 36,168 909,790 201,422 42,327 1,467,242 307,183 East & Central Indones
Slide 8: Indonesia Assets
Indonesia Assets Working Acreage 9M 2022 Production Asset Expiry Operator Partner Type of Contract Interest (Km2) (MBOEPD) Repsol (Corridor) Ltd. 36%, PSC (until 2023)/Gross Split Corridor 54% 2023/2043 2,084 66.8 MedcoEnergi Pertamina Hulu Energi Corridor 10% (until 2043) Senoro-Toili 30.0% 2047 45
Slide 9: International Assets
International Assets 9M 2022 Working Acreage Country Asset Expiry Production Operator Partner Type of Contract Interest (Km2) (MBOEPD) Oman Oil Company 25%, Kuwait Energy 7.5%, Vision Oman Karim Small Fields 58.5% 2040 781 7.4 MedcoEnergi Service Contract Oil&Gas 5%, PetroVest 4% Thailand Bualuang 1
Slide 10: Indexed Price GSA
Length/ Asset Customer WI% Agreement Date Commitments Expiry South Natuna Sea SembGas 1 40% 15-Jan-1999 Total Contract Quantity (TCQ) 2,888 TBTU, Maximum Daily Quantity (MDQ) 267 BBTUD Gross 15-Jul-2028 Block B Singapore Lematang SSB 65%, 2 Meppogen 17-Oct-2019 (Amendment) Total Contract Quantity (T
Slide 11: Indexed Price GSA
Length/ Asset Customer WI% Agreement Date Commitments Expiry 18 Senoro-Toili DS-LNG 30% 19-Aug-2021 (Amendment) Total contract quantity (TCQ) 1,307,508 BBTU, Daily Contract Quantity (DCQ) 277.5 BBTUD (equal to 250 MMSCFD) 3-Dec-2027 Total contract quantity (TCQ) 275,750 BBTU (equal to 248,200 MMSCF)
Slide 12: Progressing on extension for Domestic GSAs expiring in 2023
Length/ Asset Customer WI% Agreement Date Commitments Expiry 1 Corridor GSPL Singapore 54% 12-Aug-2023 Contract extended to December 2028 31-Dec-2028 9- Aug-2004 Original Contract Quantity of 2,310 TBTU. Remaining Contract Quantity (31-Dec-2021) of 289 TBTU. DCQ 2022 412 2 Corridor PGN West Java 54%
Slide 13: Corridor block extended to 2043
Block awarded in 1983, PSC cost recovery will expire in December 2023. Block extended from Dec 2023 - Dec 2043 under PSC gross split terms. Current Partnership: To Pertamina Rokan GSA with Pertamina o CPGL 54% (Operator) and PGN Dumai o Repsol (Corridor) Ltd. 36% o Pertamina Hulu Energi Corridor 10%
Slide 14: Indonesian PSC Cost Recovery and Gross Split
Indonesian PSC Cost Recovery Indonesian PSC Gross Split Gross Revenue Gross Revenue Government Contractor FTP Split Split Cost Recovery Profit Split DMO & reimbursement DMO & reimbursement Costs Costs Taxable Income Taxable Income Income Tax Income Tax Government Contractor Government Contractor Sha
Slide 15: Thailand Concession and Vietnam Simplified Cost Recovery
Thailand Concession Vietnam Simplified Cost Recovery All Exploration and Production capex is cost recoverable Gross Revenue Gross Revenue Royalty Cost Recovery Special Remuneratory Benefit Royalty Profit Share Government Contractor Profit Share Profit Share Tax Oil export duty Tax Government Contrac
Slide 16: Contract Area Type: Indonesia
Share to Contractor2 Profit Crude Oil Profit Natural Gas Contract Area Type Type Location Working Interest Contract Expiry Date (%) (%) South Sumatera Block PSC South Sumatra 65.00% 2033 12.50 27.50 Lematang PSC South Sumatra 100.00% 2027 15.00 29.50 Senoro-Toili PSC-JOB Sulawesi 30.00% 2047 35.00 4
Slide 17: Contract Area Type: International
Share to Contractor1 Profit Crude Oil Profit Natural Gas Contract Area Type Type Location Working Interest Contract Expiry Date (%) (%) Libya - Area 47 EPSA IV Libya 50.00% 5 years exploration; 25 years 6.85 6.85 production Oman - Karim Small Fields Service Agreement The Sultanate of Oman 58.50% 204
Slide 18: Debt Info
MEDCOENERG! Debt Info
Slide 19: Restricted Group Debt and Medco Power Debt
Restricted Group Debt (US$ mn) Medco Power Debt (US$ mn) 652 Bullet Payments 625 Instalment 580 424 173 363 95 220 63 68 66 95 268 27 97 29 38 36 1 25 125 34 41 35 14 5 28 11 2022 2023 2024 2025 2026 2027 2028 2022 2023 2024 2025 2026 2027 2028 onwards Onwards 19
Slide 20: Restricted Group Debt and Medco Power Debt
Restricted Group Debt (US$ mn) Medco Power Debt (US$ mn) 625 Bullet Payments Instalment 580 466 424 173 397 130 302 95 336 67 66 64 28 26 97 207 37 35 1 25 40 40 34 14 3 28 11 2022 2023 2024 2025 2026 2027 2028 2022 2023 2024 2025 2026 2027 2028 onwards Onwards 20
Slide 21: Medco Power Indonesia
Medco Power Indonesia
Slide 22: Medco Power metrics and installed capacity
9M 9M YoY FY FY YoY Gross Operating Installed Capacity, MW Metrics 2022 2021 ∆% 2021 2020 ∆% IPP O&M IPP Sold and O&M Capacity1 2,788 2,788 2,864 2,864 IPP Sold, GWh 2,930 2,011 45.7 2,718 2,639 3.0 638 638 2,288 939 939 Renewables, GWh 637 646 (1.4) 871 817 6.6 638 Non Renewables, GWh 2,294 1,365 6
Slide 23: Amman Mineral Nusa Tenggara
Amman Mineral Nusa Tenggara
Slide 24: Amman Mineral Nusa Tenggara metrics and reserves
Amman Mineral Nusa Tenggara Copper Gross Reserves & Resources (Mlbs) Gold Gross Reserves & Resources (Koz) 9M 9M YoY FY FY YoY 31/12/2021 31/12/2021 Metrics 2022 2021 ∆% 2021 2020 ∆% Production 14,800 16,040 Copper, Mlbs 330.8 163.3 102.6 233.7 293.9 (20.5) Gold, Kozs 553.7 94.8 484.1 156.4 132.1 18
Slide 25: PT Medco Energi Internasional Tbk
PT Medco Energi Internasional Tbk The Energy Building 53rd Floor SCBD Lot 11A Jl. Jend. Sudirman, Jakarta 12190 Indonesia P. +62-21 2995 3000 F. +62-21 2995 3001 E. investor.relations@medcoenergi.com Website : www.medcoenergi.com
PT Medco Energi Internasional — Non-Deal Roadshow (February 2023) on 6ix