Pt Medco Energi Internasional Tbk · IDX:MEDC
Pt Medco Energi Internasional Tbk — 9M 2024 Earnings Presentation
25 slides from Pt Medco Energi Internasional Tbk's earnings presentation, Oct 31, 2024
Slide 1: PT Medco Energi Internasional Tbk 9M 2024 Results
PT Medco Energi Internasional Tbk (IDX Ticker: MEDC) | Jakarta, 31 October 2024
Slide 2: Agenda and disclaimer
Highlights 3 Operational Performance 5 Financial Performance 8 ESG and Climate Change 11 Outlook 15 Appendix 18 The following presentation has been prepared by PT Medco Energi Internasional Tbk. (“Company” or “MedcoEnergi”) and contains certain projections, plans, business strategies, policies of th
Slide 3: West Belut with Solar Panels
3 West Belut with Solar Panels
Slide 4: Highlights: on track to meet operational guidance
Sign check Icon | Small Flat Iconset | paomedia Production Power Sales On track to meet Operational Guidance mboepd GWh Sign check Icon | Small Flat Iconset | paomedia 9M 2024 : 153 9M 2024 : 2,961 Suban 27, Meliwis, and West Belut onstream 2024 Guidance : 145 - 150 2024 Guidance : 4,100 Capex Cash
Slide 5: Terubuk, Natuna installation
5 Terubuk, Natuna installation. Terubuk will be onstream in Q2 2025 and support deliveries under a new GSA
Slide 6: On track to meet Operational Guidance
On track to meet Operational Guidance 9M 2024 Actual (mboepd) Guidance • Production 153 mboepd, above guidance. 163 160 153 145-150 145-150 Below 2023 due to Corridor working interest 50% reduction and Vietnam divestment partially 94 129 128 111 103 103 offset with Oman 60 acquisition 60 19% • First
Slide 7: New developments to maintain production and increase reserve life
New developments to maintain production and increase reserve life Oil & Gas Cash Cost/Unit (US$/boe) Guidance • Oil & Gas cash cost < US$10/boe 68 96 40 • 9M 2024 Capex US$249mn spent on Oman 60 79 80 drilling, Natuna, East Java, and Corridor <10 <10.0 developments 9.1 9.5 6.9 8.3 7.7 • Exploration
Slide 8: Financial Performance
Cy MEDCOENERGI Financial Performance
Slide 9: Strong fundamentals, favorable oil price
Strong fundamentals, favorable oil price EBITDA (US$mn) • Production is lower than 2023 with oil 163 160 153 price essentially flat. Increased 94 exposure to oil in Oman more than offsetting reduced Corridor working interest 1,593 1,255 979 • 9M 2024 EBITDA US$979mn above 667 2023 US$941mn 2021 Prod
Slide 10: Deleveraging and rewarding our shareholders
Deleveraging and rewarding our shareholders Credit Restricted GroupMEDC (RG) Debt vs Brent (US$vs bn)IDX and LQNet 45 Debt to EBITDA1 4.2 • Moody’s revised Outlook to B1 Positive. 3.3 3.4 2.7 Upgrades from S&P and Fitch to BB- 1.4 2.1 1.7 • 9M 2024 US$230mn of USD Notes tender offers 2.6 2.7 2.8 2.5
Slide 11: ESG and Climate Change
Cy ESG and Climate Change MEDCOENERGI ei
Slide 12: Export to a premium market with attractive returns
Export to a premium market with attractive returns Conditional License to import 600 MW to Singapore • One of the largest solar power projects in Southeast Asia • Building Indonesia’s capacity in PV and BESS • Pacific Medco Solar Energy consortium1 secured Conditional Approval in September 2023; Con
Slide 13: Expanding supply of clean energy
Expanding supply of clean energy • Phase 1: • Completed drilling and testing, confirming up to 40 MW capacity • Construction of 34 MW geothermal facilities • Project progress ~97%, commercial operation in Q1 2025 • Project cost: ~US$140mn • Medco 51%, Ormat 49% Timeline: Q2 2024 Q3 2024 Q4 2024 Q1 2
Slide 14: Demonstrated by our consistent improvement in ESG ratings
Demonstrated by our consistent improvement in ESG ratings We support AAA AA CDP Score Report - A A A Climate Change Average Performance BBB BBB As of 2023, PT Medco Energi MedcoEnergi’s CDP Score Oil & Gas Internasional Tbk received an Extraction & Asia Global BB BB BB Average MSCI ESG Rating of A P
Slide 15: Outlook
Cyr Outlook aa? a,
Slide 16: Ahead of Guidance
Ahead of Guidance 9M 2024 US$ US$ 1.7x 153 2,961 300 mn <10 /boe 17% 16% 9M 2024 US$80/bbl 2.1x mboepd GWh Oil & Gas: US$249mn Power: US$51mn Mid-cycle US$65/bbl 9M 2024 2024 Guidance US$ 145-150 4,100 430 US$ 2.5x >15% mboepd GWh Oil & Gas: US$350mn Power: US$80mn <10 /boe 2.2x Mid-cycle price 2.5x
Slide 17: A strategy which will continue to deliver shareholder value
A strategy which will continue to deliver shareholder value 2024 Guidance US$ US$ 145-150 4,100 430 mn <10 /boe 2.5x2.5x Mid-cycle >15% mboepd GWh Oil & Gas: US$350mn Power: US$80mn Mid-cycle US$65/bbl price 2025 Guidance US$ 145-150 4,500 430 US$ 2.5x >15% mboepd GWh Oil & Gas: US$400mn Power: US$3
Slide 18: Appendix
Appendix MEDCOENERGI
Slide 19: Diverse energy mix of Oil & Gas, Clean Power, and Copper & Gold Mining
Diverse energy mix of Oil & Gas, Clean Power, and Copper & Gold Mining Thailand Laos Tanzania Yemen Vietnam Bualuang Cambodia West Bangkanai Simenggaris South Natuna North Sea Block B Sokang Tarakan Block A Donggi Senoro Geothermal Sarulla LNG Beluga Bangkanai Mexico Oman Riau IPP Singapore Corridor
Slide 20: Metrics: Oil & Gas
9M 9M YoY FY FY YoY Net 2P Reserves, MMBOE Metrics 2024 2023 ∆% 2023 2022 ∆% 9M 2024 Production1 5-yr 2P RRR : 152% Oil, MBOPD 41.7 31.6 32.0 32.1 33.5 (4.2) 5-yr 2P FD&A : US$5.6/boe Gas, MMSCFD 606.4 706.2 (14.1) 697.4 704.1 (1.0) 8.4 years 10.6 years 9.0 years Lifting/Sales 55 539 35 74 481 51 53
Slide 21: Metrics: Power
9M 9M YoY FY FY YoY Metrics Gross Operating Installed Capacity, MW 2024 2023 ∆% 2023 2022 ∆% IPP Sold and O&M Capacity1 2,864 2,844 2,844 2,288 939 919 919 IPP Sold, GWh 2,961 3,079 (3.8) 4,155 3,993 4.1 638 Renewables, GWh 613 603 1.6 801 855 (6.3) Non Renewables, GWh 2,348 2,475 (5.1) 3,353 3,138
Slide 22: Metrics: Copper & Gold
Copper Gross Reserves & Resources (Blbs) Gold Gross Reserves & Resources (Moz) 9M 9M YoY FY FY YoY Metrics 31/12/2023 31/12/2023 2024 2023 ∆% 2023 2022 ∆% Production Copper, Mlbs 335 199 68% 312 464 (33%) 24.6 34.4 Gold, Kozs 708 259 173% 463 731 (37%) Sales 10.4 13.4 15.4 15.0 Copper, Mlbs 272 175
Slide 23: Average realized prices 9M 2024 financial summary
AVERAGE REVENUE GROSS PROFIT EBITDA REALIZED PRICES Oil US$79.9 US$1,783 US$680 US$979 4% Consolidated 7% Consolidated 7% Consolidated 4% Price /bbl million million million Gas US$7.0 Restricted US$1,617 Restricted US$625 Restricted US$945 Price /MMBTU 1% Group million 12% Group million 8% Group mil
Slide 24: Average realized prices Q3 2024 financial summary
AVERAGE REVENUE GROSS PROFIT EBITDA REALIZED PRICES Oil US$78.1 US$618 US$228 US$330 5% Consolidated 1% Consolidated 4% Consolidated 2% Price /bbl million million million Gas US$7.0 Restricted US$572 Restricted US$211 Restricted US$319 Price /MMBTU 0% Group million 5% Group million 6% Group million
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 investor.relations@medcoenergi.com Website : www.medcoenergi.com
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