Dana Gas Pjsc · ADX:DANA
Dana Gas Pjsc — Investor Presentation (March 2025)
29 slides from Dana Gas Pjsc's investor presentation, March 2025
Slide 1: Corporate Presentation March 2025
CORPORATE PRESENTATION March 2025 CLEANER ENERGY FOR THE FUTURE 1
Slide 2: Contents
CONTENTS I. FY 2024 Snapshot II. Dana Gas at a Glance III. Operational Performance IV. Financial Performance V. Contact Us 2
Slide 3: Disclaimer
DISCLAIMER This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo
Slide 4: Snapshot – FY 2024
SNAPSHOT – FY 2024 FINANCIALS OPERATIONS ▪ Net Profit of $151mm – 6% decline compared to $160mm in 2023, due to ▪ Group production down 7% at 54,850 boepd vs 58,700 in 2023; production drop in Egypt and lower realized prices; ▪ KRI production up 4% driven by increased demand from local power ▪ Reven
Slide 5: Dana Gas at a Glance
© jUéd_ila DANAGAS DANA GAs AT A GLANCE
Slide 6: Dana Gas Overview
DANA GAS OVERVIEW Established in 2005, Dana Gas is the first and largest private-sector natural gas company in the Middle East Listed on the Abu Dhabi Securities Exchange with a market cap of c. $1.2bn and c. $3mm average daily trading liquidity Iraq (KRI): OVER 1 BILLION BARRELS OF 2P RESERVES (MMB
Slide 7: History & Story
HISTORY & STORY First Gas KRI KRG Declares Dispute Record KRI NIOC NIOC Sukuk Settlement Sukuk NIOC 1st production output Contract & Arbitration Refinancing with RWE Refinancing Damages Award of 520 MMscf/d Dana Gas IPO 2005 2007 2009 2011 2013 2016 2017 2018 2019 2021 2022 2023 2024 Dana Gas Settle
Slide 8: Group Structure
GROUP STRUCTURE Dana Gas PJSC RWE, 10% MOL, 10% Dana Gas, 35% OMV, 10% 100% 100% Pearl Petroleum was formed in 2009 by Crescent Petroleum and Dana Gas. Crescent DG Midstream Holdings Ltd DG Upstream Holdings Ltd The company is a world class Petroleum, partnership of five international 35% shareholde
Slide 9: Investment Highlights
INVESTMENT HIGHLIGHTS World-class Asset Base With Strong And Stable Long-Term Production Capacity ✓ 2P gas reserves of over 1 billion boe net to Dana Gas ✓ Current daily production of 55 kboepd - track record: over 12 years production >50 kboe/d ✓ Significant upside potential from expansion projects
Slide 10: Operational Performance
© jUéd_ila DANAGAS OPERATIONAL PERFORMANCE
Slide 11: KRI: World Class Assets & Low-Cost Production
KRI: WORLD CLASS ASSETS, & LOW-COST PRODUCTION PEARL PETROLEUM COMPANY LTD ▪ Holding (%): Dana Gas 35%, Crescent 35%, OMW, MOL, RWE 10% ▪ Pearl has 100% working interest in the PDA covering Khor Mor and Chemchemal fields and Blocks 19 and 20 • Khor Mor is a giant gas-condensate field with OIP recove
Slide 12: KRI: 15 Years of Reliable Production With Future Growth
KRI: 15 YEARS OF RELIABLE PRODUCTION WITH FUTURE GROWTH Production (Kboe/d) (Data labels shown in MMscf/d) KM250 project expected to increase production by ~50% in capacity 200 1000 2020 2023 900 2008 2011 2018 2019 ▪ January KM250 Expansion project ▪ January Second bypass ▪ January 10- year Gas Sal
Slide 13: Credan Operates Two of the Largest Gas Fields in MENA
CREDAN* OPERATES TWO OF THE LARGEST GAS FIELDS IN MENA LARGE GAS DEVELOPMENTS IN MENA KURDISTAN MENA 120 100 80 GIIP (tcf) 60 40 20 0 Khor Mor Bina Bawi Khazzan** Zohr Leviathan Shah Tuna Tamar Calypso Glaucus + Chemchemal + Miran Notes: *Dana Gas and Crescent Petroleum | * *Recoverable volume expec
Slide 14: KRI: Current Performance and Future Expansion
KRI: CURRENT PERFORMANCE AND FUTURE EXPANSION CURRENT OPERATIONAL UPDATES KM250 EXPANSION PROJECT KRI PRODUCTION GROWING ORGANICALLY EXPANSION PROJECT TO ADD 50% TO PRODUCTION CAPACITY ➢ Produced 38,400 boepd in 2024 (173 MMscf of gas; 5,246 bbl/d of condensate and 371 MTPD of ➢ Pearl took full cont
Slide 15: Egypt: Trusted Deliverer
EGYPT: TRUSTED DELIVERER EGYPT OFFERS DIVERSIFIED PRODUCTION AND CASH FLOW ESTABLISHED PRODUCTION TRACK RECORD (KBOE/D) ➢ Dana Gas Egypt (DGE) has been operating in Egypt since 2007; currently the 7th largest gas producer in the country. 42 43 40 40 ➢ Current production comes from approximately 30 w
Slide 16: UAE Gas Project
UAE GAS PROJECT ARBITRATION UPDATE ▪ The UAE Gas Project involves the purchase of 600 MMscf/d imported gas sourced from the National Iranian Oil Company (NIOC) for transportation, processing, and sale in the UAE. ▪ Dana Gas owns project infrastructure (Gas transmission and Processing) and 35% of the
Slide 17: Production (boepd)
PRODUCTION (BOEPD) AVERAGE PRODUCTION FY 2023 VS FY 2024 (KBOE/D) AVERAGE PRODUCTION Q4 2023 VS Q4 2024 (KBOE/D) 55.7 53.5 58.7 54.8 7.1 38.9 6.6 7.5 36.1 36.9 38.4 6.8 5.2 5.2 5.2 5.3 21.8 19.5 45.0 16.4 42.4 14.6 41.2 2.2 42.1 27.3 28.8 1.6 1.9 29.3 17.7 26.5 1.4 13.3 15.8 11.9 KRI Egypt Group KRI
Slide 18: Realized Prices
REALIZED PRICES (USD/ BOE)) ( USD/BOE AVERAGE REALIZED PRICE - CONDENSATE (USD/BBL) AVERAGE REALIZED PRICE - LPG (USD/BOE) FY 2023 FY 2024 FY 2023 FY 2024 $83 $81 $83 $81 $74 $73 $51 $50 $50 $44 $41 $35 $35 $34 $28 $29 Brent Dana Gas KRI Egypt Brent Dana Gas KRI Egypt BOE Conversion Factors: Gas (6
Slide 19: Sustainability Highlights
SUSTAINABILITY HIGHLIGHTS HIGHLIGHTS KEY METRICS ▪ Voluntary offset Pearl’s CO2 emissions (264 kt/yr) past 3 years – one of first carbon neutral O&G production businesses in MENA ▪ Top Quartile carbon intensity – 6.21 kg CO2e/BOE ▪ Zero-Routine Flaring policy (per World Bank GFMR) ▪ 32% decrease in
Slide 20: Financial Performance
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Slide 21: Financial KPIs Overview
FINANCIAL KPIS OVERVIEW Accumulated EBITDA FY 2024 Liquidity EBITDA last position three years Net Debt: USD (62mm) USD 852mm USD 263mm Net Leverage: 0.24x Avg. boepd1 in Implied asset total backing Book Equity Value: 55k boepd USD 2,522mm Market Cap: USD 1.47Bn Opex per boe SG&A per boe Capex per bo
Slide 22: Revenue Highlights
REVENUE HIGHLIGHTS YEARLY REVENUE BREAKDOWN ($MM) QUARTERLY REVENUE BREAKDOWN ($MM) 419 441 158 75 19 81 107 96 101 25 218 201 140 225 216 7 20 8 47 28 49 57 44 37 41 47 31 66 12 114 80 60 259 12 8 86 198 15 17 147 16 45 94 104 112 28 21 24 KRI Egypt Total KRI Egypt Total KRI Egypt Total KRI Egypt T
Slide 23: Profit Highlights
PROFIT HIGHLIGHTS GROSS PROFIT ($MM) NET PROFIT ($MM) 350 2023 2024 200 2023 2024 300 160 257 263 151 150 250 216 200 190 100 150 100 88 75 50 34 39 56 50 37 0 0 FY - Gross Profit Q4 - Gross profit FY-EBITDA Q4 - EBITDA FY Q4 ▪ Net profit decreased 6% in 2024 due to lower realized prices and lower p
Slide 24: G&A / Opex Highlights
G&A / OPEX HIGHLIGHTS G&A / OPEX ($MM) G&A OPEX G&A/boe ($/boe) Opex/boe ($/boe) 60 57 60 55 57 53 ▪ Company OPEX and G&A costs remain extremely 2.85 3.00 2.65 2.59 competitive on an industry wide basis 2.38 2.47 ▪ OPEX and G&A costs below $3.5/boe and remains 40 within industry’s top quartile 2.00
Slide 25: Balance Sheet
BALANCE SHEET DEBT AND CASH BALANCE ($M) ▪ $317mm cash balance vs. $131mm at FY2023; ▪ $235mm of cash balance held at Pearl Petroleum 400 ▪ Cash was boosted due to the successful placing of Pearl’s bond ▪ As of year-end 2024, Company’s total borrowings stands at 317 300 252 255 $255mm consisting of:
Slide 26: Cash Flow, Liquidity & Receivables
CASH FLOW, LIQUIDITY & RECEIVABLES BILLINGS AND COLLECTIONS ($M) Egypt collection KRI collection ▪ Collected $326mm in 2024; realization realization ▪ $261mm, Company’s share of Pearl’s collections in the KRI 116% ▪ Company’s share of KRI trade receivables down to $67mm ($103mm at YE 2023) with a co
Slide 27: Why Invest in Dana Gas
© jUéd_ila DANAGAS WHY INVEST IN DANA GAS
Slide 28: Why Invest in Dana Gas
WHY INVEST IN DANA GAS SIGNIFICANT GROWTH IN THE KRI WITH PLANS DELIVERED ON STRATEGIC OBJECTIVES TO STRONG BALANCE SHEET & HIGH-GROWTH, TO INCREASE PRODUCTION TO ACHIEVE MAXIMUM SHAREHOLDER RETURNS CASH-GENERATING PORTFOLIO 1 BILLION SCF/D ▪ World-class fields in the KRI, with over 1 billion ▪ Comp
Slide 29: Reach Us
REACH US: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : mohammed.mubaideen@danagas.com Direct : +971 6 519 4401 29