Pt Medco Energi Internasional Tbk · IDX:MEDC
Pt Medco Energi Internasional Tbk — Non-Deal Roadshow (February 2023)
24 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 FY-21 vs FY-22
Profit & Loss (US$ M) FY-21 FY-22 YoY ∆% Balance Sheet (US$ mn) FY-21 FY-22 YoY ∆% Revenue 1,252 2,312 85 Cash and cash equivalents1 933 737 (21) - Oil and gas 1,116 2,190 96 Investments 1,106 1,422 29 - Power 122 114 (7) Fixed Assets 2,206 3,100 41 - Others 14 8 (43) Total Assets 5,684 6,932 22 DDA
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 269 123 23 250 80 13 60 8 8 119 59 6 124 144 49 19 4 29 2 35 6 64 79 7 70 20 128 114 39 8 37 25 38 16 34 2020 2021 2022 2023 2020
Slide 5: Operational Data
Operational Data
Slide 6: Operating Metrics, Production and Reserves
FY FY YoY Net 2P Reserves, MMBOE Metrics 2022 2021 ∆% Production1 FY-22 Oil, MBOPD 33.5 34.4 (2.6) 2P RLI : 8.4x 5-yr 2P RRR :1.9x 125 20 481 Gas, MMSCFD 704.1 319.7 120.3 5-yr 2P FD&A : US$7.4/boe 108 389 52 Lifting/Sales 310 Oil Lifting, MBOPD 32.6 33.6 (3.0) 29 Gas Sales, BBTUPD 667.1 299.8 122.5
Slide 7: Reserves and Contingent Resources as of December 31, 2022
As of December 31, 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 21,359 643,811 137,861 34,971 874,427 194,006 41,545 1,414,639 297,048 East & Central Indonesi
Slide 8: Indonesia Assets
Indonesia Assets Working Acreage FY 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 70.2 MedcoEnergi Pertamina Hulu Energi Corridor 10% (until 2043) Senoro-Toili 30.0% 2047 45
Slide 9: International Assets
International Assets FY 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 & South Sumatra Meppogen 1-Dec-2021 (Amendment) Total Contr
Slide 11: Indexed Price GSA
Length/ Asset Customer WI% Agreement Date Commitments Expiry 18 Tarakan PGN 100% 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 30% 19-Aug-2021 (Amendment) Total contract quantity (TCQ) 1,307,508 BBTU, Daily Contrac
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 under gross split
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 vs 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) Bullet Payments 703 Instalment 580 500 173 397 625 351 95 424 256 95 95 68 66 67 28 26 256 36 1 33 161 40 40 35 22 78 76 28 11 2023 2024 2025 2026 2027 2028 onwards 2023 2024 2025 2026 2027 2028 Onwards 19
Slide 20: Medco Power Indonesia
Medco Power Indonesia
Slide 21: Medco Power Metrics and Installed Capacity
FY FY YoY Gross Operating Installed Capacity, MW Metrics 2022 2021 ∆% IPP O&M IPP Sold and O&M Capacity1 2,788 2,788 2,864 IPP Sold, GWh 3,993 2,718 46.9 638 638 2,288 939 Renewables, GWh 855 871 (1.8) 638 Non Renewables, GWh 3,138 1,847 69.9 2,150 2,150 1,925 O&M Capacity, MW 1,925 1,650 16.7 1,650
Slide 22: Amman Mineral Nusa Tenggara
Amman Mineral Nusa Tenggara
Slide 23: Amman Mineral Nusa Tenggara
Amman Mineral Nusa Tenggara Copper Gross Reserves & Resources (Mlbs) Gold Gross Reserves & Resources (Koz) FY FY YoY 31/12/2021 31/12/2021 Metrics 2022 2021 ∆% Production 14,800 16,040 Copper, Mlbs 463.9 233.7 98.5 Gold, Kozs 730.7 156.5 367.0 8,900 7,040 33,700 Sales 24,000 10,500 15,000 Copper, Ml
Slide 24: 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