Pt Medco Energi Internasional Tbk · IDX:MEDC
Pt Medco Energi Internasional Tbk — H1 2023 Earnings Presentation
25 slides from Pt Medco Energi Internasional Tbk's earnings presentation, 2023
Slide 1: PT Medco Energi Internasional Tbk
PT Medco Energi Internasional Tbk (IDX Ticker: MEDC)
Slide 2: Contents
Financial Data 1H 2023 Consolidated Financials 4 Consolidated Capex Guidance 5 Operational Data Oil and Gas Statistics 7 Reserves and Resources 8 Asset Portfolio 9 – 10 Active Gas Contracts 11 – 13 Simplified Funds Flow Structure 14 – 15 PSC Terms 16 – 17 Debt Info Debt Maturity Profile: Bullet vs I
Slide 3: Financial Data
Financial Data
Slide 4: 1H 2023 Consolidated Financials
Profit & Loss (US$ mn) 1H 2023 1H 20221 YoY ∆% Balance Sheet (US$ mn) 1H 2023 1H 20221 YoY ∆% Revenue 1,116 1,109 1 Cash and cash equivalents2 604 519 16 - Oil and gas 943 1,046 (10) Investments 1,461 1,347 8 - Power 164 57 187 Fixed Assets 2,849 3,322 (14) - Others 9 6 62 Total Assets 6,664 6,955 (
Slide 5: Consolidated Capex Guidance
E&P Capex (US$ mn) Power Capex (US$ mn) Exploration Gas IPP Development Drilling Geothermal Facilities Solar PV & Other Renewables 269 23 250 119 144 35 99 2 80 79 63 32 70 20 128 6 45 25 19 31 2 6 28 65 7 38 34 39 8 37 14 16 14 2020 2021 2022 1H 2023 2020 2021 2022 1H 2023 5 2023 Guidance 2023 Guid
Slide 6: Operational Data
Operational Data
Slide 7: Oil and Gas Statistics
1H 1H YoY FY FY YoY Net 2P Reserves, MMBOE Metrics 2023 2022 ∆% 2022 2021 ∆% 1H-23 Production1 2P RLI: 8.9x Oil, MBOPD 32.1 33.5 (4.3) 33.5 34.4 (2.6) 5-yr 2P RRR : 1.7x 5-yr 2P FD&A : US$6.3/boe Gas, MMSCFD 709.2 651.9 8.8 704.1 319.7 120.3 125 20 481 25 4 6 457 Lifting/Sales 389 52 Oil Lifting, MB
Slide 8: Indonesia Assets
Indonesia Assets Working Acreage 1H 2023 Production Asset Expiry Operator Partner Type of Contract Interest (Km2) (MBOEPD) Repsol (Corridor) Ltd. 36%, Corridor 54.0%/46.0% 2023/2043 2,084 76.1 MedcoEnergi PSC Cost Recovery Pertamina Hulu Energi Corridor 10% Senoro-Toili 30.0% 2047 451 20.6 JOB Perta
Slide 9: International Assets
International Assets 1H 2023 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 7.8 MedcoEnergi Service Contract Oil&Gas 5%, PetroVest 4% Thailand Bualuang 1
Slide 10: Active Gas Contracts
Length/ Asset Customer Agreement Date Commitments Expiry SembGas 1 South Natuna Sea Block B 15-Jan-1999 Total Contract Quantity (TCQ) 2,888 TBTU, Daily Contract Quantity (DCQ) 174 BBTUD 15-Jul-2028 Singapore SembGas Signed 5-June-2023 2 South Natuna Sea Block B Total Contract Quantity (TCQ) 105 TBTU
Slide 11: Active Gas Contracts
Length/ Asset Customer Agreement Date Commitments Expiry 18 Tarakan PGN 21-Feb-2022 Total contract quantity (TCQ) 947,7 MMSCF, Daily Contract Quantity (DCQ) 0.30 MMSCFD. 7-Sep-2030 19 Senoro-Toili DS-LNG 19-Aug-2021 (Amendment) Total contract quantity (TCQ) 1,307,508 BBTU, Daily Contract Quantity (D
Slide 12: Active Gas Contracts
Length/ Asset Customer Agreement Date Commitments Expiry 1 Corridor GSPL Singapore 12-Aug-2023 Original Contract Quantity of 241 TBTU. DCQ 2023 87 BBTUD. 31-Dec-2028 9- Aug-2004 2 Corridor PGN West Java Original Contract Quantity of 2,310 TBTU. DCQ 2023 412 BBTUD. 30-Sep-2023 (First Gas Oct 2007) 30
Slide 13: 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 14: Thailand Concession and Vietnam 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 15: Share to Contractor: Indonesia
Share to Contractor2 Contract Area Type Current Type Location Contract Expiry Date Profit Crude Oil (%) Profit Natural Gas (%) South Sumatera Block PSC Cost Recovery South Sumatra 2033 12.50 27.50 Lematang PSC Cost Recovery South Sumatra 2027 15.00 29.50 Senoro-Toili PSC Cost Recovery Sulawesi 2047
Slide 16: Share to Contractor: International
Share to Contractor1 Contract Area Type Current Type Location Contract Expiry Date Profit Crude Oil (%) Profit Natural Gas (%) Libya - Area 47 EPSA IV Libya 5-year exploration stage and 25- 6.85 6.85 year production stage following exploration period Oman - Karim Small Fields Service Agreement The S
Slide 17: Debt Info
MEDCOENERG! Debt Info
Slide 18: Restricted Group Debt and Medco Power Debt
Restricted Group Debt (US$ mn) Medco Power Debt (US$ mn) Bullet Bullet Instalment Instalment 696 580 451 396 620 255 373 95 154 145 122 5 69 70 161 55 38 39 140 39 27 76 78 29 1 42 52 37 23 11 26 16 2023 2024 2025 2026 2027 2028 2029 2023 2024 2025 2026 2027 2028 2029 onwards onwards 18
Slide 19: Medco Power Indonesia
Medco Power Indonesia
Slide 20: Medco Power Statistics
1H 1H YoY FY FY YoY Gross Operating Installed Capacity, MW Metrics 2023 2022 ∆% 2022 2021 ∆% IPP O&M IPP Sold and O&M Capacity1 2,788 2,788 2,864 2,844 IPP Sold, GWh 2,003 1,857 7.9 3,993 2,718 46.9 638 638 2,288 939 919 Renewables, GWh 419 424 (1.2) 855 871 (1.8) 638 Gas IPP, GWh 1,584 1,433 10.6 3
Slide 21: Amman Mineral Nusa Tenggara
Amman Mineral Nusa Tenggara
Slide 22: Amman Mineral Nusa Tenggara
Amman Mineral Nusa Tenggara Copper Gross Reserves & Resources (Mlbs) Gold Gross Reserves & Resources (Koz) 1H 1H YoY FY FY YoY 31/12/2022 Metrics 31/12/2022 2023 2022 ∆% 2022 2021 ∆% Production 14,000 15,575 Copper, Mlbs 133.7 208.7 (35.9) 463.9 233.7 98.5 Gold, Kozs 171.5 350.5 (51.1) 730.7 156.5 3
Slide 23: ESG
ESG
Slide 24: Sustainability Reporting
Reported 2017 – 2022 in accordance with the 2016 GRI Standards and its subsequent updates Improved quality of disclosure in our reporting by increasing the number of GRI performance indicators disclosed and assured by Ernst & Young year-on-year 93 indicators 86 indicators 75 indicators 63 indicators
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
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