PEMEX E&P International Strategies and Perspectives Business Development Office March 12, 2014 Mexican Energy Reform – Oil and Gas Opportunities in Mexico
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
PEMEX E&P
International Strategies
and Perspectives
Business Development Office
March 12, 2014
Mexican Energy Reform –
Oil and Gas Opportunities in Mexico
www. .compep.pemex
Organization
PEMEX
Exploration and
Production
Refining
Gas
Petrochemicals
PMI
Operations
Finance
Administration
IT
Legal
Affiliates:
P.M.I. Marine, Ltd 1
Mex Gas Internacional, Ltd 2
P.M.I Comercio Internacional, S.A de C.V.
P.M.I. Holding, B.V.
P.M.I. Holdings Petróleos España, S.L.
P.M.I. Norteamérica, S.A. de C.V.
P.M.I. Services North América, Inc.
P.M.I Trading, Ltd.
P.M.I. Holding North América, Inc.
Pemex Services Europe, Ltd.
P.M.I Services, B.V.
Pemex Internacional España, S.A.
1. Pemex-Exploración y Producción Affiliate
2. Pemex-Gas y Petroquímica Básica Affiliate
Revenues 127 BUSD/Y
Oil Production* 2.9 MMBPD
Gas Production 6.5 BCFD
Refining capacity 1.4 MMBPD
¨Includes liquids
www. .compep.pemex3
E&P head
office
Business units that support the operation
Management of
Technical
Resources
Business
Development
HSE Auditing Project Services
Distribution &
Commercialization Exploration
Field
Development
Producción Producción Producción
Production NE Offshore Region
SW Offshore Region
South Region
North Region
Administration &
Finances
Planning &
Evaluation
Maintenance & Logistics
Drilling Unit
Organization focusing on value creation
Main opportunities for
improvement
I. Focus on projects
IV. Flexibility in the
assignment of resources to
projects
III. Efficient allocation of
resources
II. Technical quality
3
www. .compep.pemex
Oil Proven Reserves1
BBO
Oil Production1
MBD
Lifting Costs3
USD/boe
1. Fuente: Petroleum Intelligence Weekly. Anuario estadístico de Pemex 2012; reservas y producción de líquidos
2. Cálculo con base en John S. Herold, Operational Summary; Reportes anuales e informes a la SEC 2011;promedio trianual; incluye gastos indirectos de administración
3. Fuente: Reportes anuales y reportes de la SEC 2012
Pemex Competitiveness
Explor. & Dev. Costs3,
USD/boe
• Inventory of 757 oil and gas fields
• Average annual investments of 25 BUSD in E&P
• PEMEX is ranked as the 7th Biggest Company in terms of Oil Production
www. .compep.pemex
Basin Cumm.
prod.
Reserves Prospective
resources
1P 2P 3P Conv. Unconv.
Southeast 45.4 12.2 18.2 25.1 20.1
Tampico
Misantla 6.5 1.0 7.0 17.7 2.5 34.8
Burgos 2.3 0.4 0.6 0.8 2.9 15.0
Veracruz 0.7 0.2 0.2 0.2 1.6 0.6
Sabinas 0.1 0.0 0.0 0.0 0.4 9.8
Deep
Waters 0.0 0.1 0.2 0.7 26.6
Yucatan
Platform 0.5
Total 55.0 13.9 26.2 44.5 54.6 60.2
Reserves and Prospective Resources
Mexico´s Oil and Gas Basins
Unconventional
28.4
Billions of barrels of crude oil equivalent
Exploration
projects
Production projects
www. .compep.pemex
Brown Fields in Mexico
Cumulative
production
(BBOE)
Total
Reserves
(BBOE)
Oil and
Gas fields
(number)
Region / Asset Cumm. Prod.
(MMBOE)
Remaining Reserves (MMBOE)
Marine Northeast 18,019 5,202
Cantarell 15,281 4,285
Ku-Maloob-Zaap 2,738 917
Marine Southwest 6,863 542
Abkatún-Pol-Chuc 6,450 450
Litoral de Tabasco 413 92
North 8,997 952
Burgos 2,203 345
Poza Rica-Altamira 6,103 552
Veracruz 691 56
South 16,032 3,352
Bellota-Jujo 4,279 1,282
Cinco Presidentes 2,223 351
Macusp-Muspac 5,069 272
Samaria-Luna 4,460 1,446
Total 49,910 10,049
Note: For this presentation, mature fields are those with more
than 60% of production over total producing reserves
Integrated Contracts
Three bidding rounds in Southern and
Northern Regions
www. .compep.pemex
Chihuahua
Tampico -
Misantla
Veracruz
Burro-Picachos
Sabinas
N
0 250 500
KilómetrosEscala Gráfica
Golfo
de
México
Burgos
Áreas prospectivasprioritarias
Área de las cuencas
Massive Unconventional Resources
(60 BBOE)
459
297
150
0 100 200 300 400 500
P90 Media P10
Prospective Resources
TCF
Chihuahua, Burgos and Burro Picachos Basins
are mainly gas
Tampico Misantla and Veracruz Basins are
crude oil basins
50% of unconventional prospective
resources are oil reservoirs
PEMEX is drilling and evaluating through
exploration activities
Exploration FOUR-YEAR program
175 wells
10,000 sqk of 3D seismic
Shale Basins
www. .compep.pemex
US Deepwater
West GC
US Deepwater
East GC Pemex
Wells 150 170 28
Geologic Success (%)
30 35 64
Reserves (MMBOE)
6,192 3,851 1,775
Competitive Deepwater Activities
Seismic Coverage
Deepwater area of 125 Million Acres
More tan 10% covered with 3D seismic
Wells
DEPHT
(m)
www. .compep.pemex 9
2013 Constitutional Reform
Attract investments to Mexico to increase hydrocarbon production and reserves, and have lower energy prices
Upstream contracts: service, profit sharing, production sharing and license
Private entities are allowed to carryout midstream and downstream activities
Convert Pemex, from government entity, into a productive company
Laws for government figures no longer apply, ability to make financial, procurement, internal organization decisions
The CNH and CRE are strengthened and have new functions
New roles regarding upstream contracts:
Ministry of Energy defines technical and contractual guidelines
Ministry of Treasury defines fiscal terms
The CNH is now in charge of awarding, entering-into and managing contracts
A Petroleum Fund is created, administering income from hydrocarbons (apart from corporate taxes)
Round zero: Pemex will ask to keep current areas and their “migration” (transformation) to contracts
New entities and agencies for natural gas and HSE
9
www. .compep.pemex
Changes regarding alliances
10
Constitutional reform
Exploration and production by Pemex, private parties or alliances
Pemex could venture within Mexico and overseas
Pemex could have a convenient and efficiente organization to achieve its goals and objectives
Different schemes and models to generate alliances
www. .compep.pemex
Different options to improve capabilities
11
Organic growth
Hire specialists
M&A
Local alliances
International alliances
A strategy, a process, a team and its implementation are crucial
Speed
Investment
Risk
www. .compep.pemex 12
JV a common practice
12
Risk diversification. A group of companies will distribute the risk ofa project
Exploration. Additional metodologies, interpretations and opinions.
Success. Companies work for a general objective and results are shared among them, specially losses
Costs. Capital costs are higher when a project is executed by one party, alliances give access to markets and investments. Costs abatements
Technology. Access to new methodologies, processes, technologies, international operational and business practices, (know how)
Execution capabilities. Financial resources, R&D, innovation, operational capabilities, project management, decision making processes.
Capabilities and competences. Exchange of experiences, technologies, views, best practices, knolwedge which can be replicated in other projects. (Knowledge network and secondments).
www. .compep.pemex 13
Alliances in Mexico and overseas
13
Alliances in Mexico
In some cases, Pemex doesn’t have enough execution capabilities to develop fields or all fields in Mexico; alliances add more value rather than letting areas undeveloped or partially undeveloped
Pemex has done already investments in exploration or development of areas which will have to be amortized
Profit the know-how, data, expertise and knolwedge of different areas
International alliances
International alliances are convenient:
Porfolio optimization. Selection among different projects, more suitable to competences, and with even more materiality than in Mexico.
Risk diversification, economies of scale, access alliance
Accelerate learning curve in deep water and shale
Even limited participation in projects can generate profit and value to the company
Pemex reputation as a competitive company, adding value and opportunities in Mexico and abroad
www. .compep.pemex 14
Energy reform program, maximum periods
Mar 21
Apr 20
Sep 17
Dec 21
1 year+ 120 days*
Dec 20, 2015
Pemex requests areas (round zero)
Legal framework: State productive companies
Legal framework: host government contracts
Legal framework: national content, transparency, anti-corruption, new government offices and other players, transformation of CNH and CRE, commissioners, transfers to Petroleum Fund National Agency for Safety and Environmental Protection
Approval of round zero areas
Creation of Petroleum Fund **
Legal framework: environment
Program for Sustainable Use of Energy
Centers for gas and energy control
Pemex transforms into State productive companies
* Once Regulatory Law to Article 27 is in effect
** To start operations in 2015
14
www. .compep.pemex 15
Jose Antonio Perez Chavez
Business Development Office PEMEX EXPLORATION AND PRODUCTION
Phone. 19442500 Ext. 32673
www.pep.pemex.com
END!!
Related Documents
