collaboration to improve pemex's performance, project ... day... · five-year plan exploration...
TRANSCRIPT
PEMEX Investor Day London – October 6, 2015
Collaboration to improve PEMEX's performance, project development and excellency in the O&G sector
JOSÉ MANUEL CARRERA PANIZZO
Alliances and New Business CEO
Upstream: Tender Plan for Hydrocarbons E&P (2015-2019)
The five-year plan includes four rounds
of bidding:
Round Bidding
Areas
Resources
(MMb)
Surface
(km2)
1 145 71,963 24,359
2 286 15,698 56,401
3 279 12,655 54,068
4 204 7,142 43,725
Total 914 107,459 178,554
1
Five-year Plan
Exploration Extraction
Round Round
Round 1 Round 1
Round 2 Round 2
Round 3 Round 3
Round 4 Round 4
Upstream: Different Business Characteristics Require Different Approaches
Partner Business case
CIEP and COPF Pre-selected Reassess upside and profitability
under a new contractual model
Farm-outs
Selected through a
competitive bid by
CNH
A program already authorised through
entitlement. Upside by increasing
activities, reducing costs or applying
technology
State acreage Selected by PEMEX
Best offer for partnership and
government under a competitive
scheme
Risk financing Selected by PEMEX Shared risk and rewards with partner
2
Downstream: Current Infrastructure & Logistics
44 pipeline systems; length:
~9,000 km
10 ROP, 5 Maritime terminals
and 77 TAR
Cadereyta
Hermosillo
Matamoros
Veracruz
Nuevo Laredo
Cd. Juárez
Chihuahua
Parral
Durango
G. Palacio
Sabinas
Zacatecas
Tepic
Madero
Tuxpan/ Poza Rica
Progreso
Mérida
Cuernavaca
Oaxaca
S. Cruz
Tuxtla G.
Tapachula
Manzanillo
Colima
L. Cárdenas
La Paz
Mazatlán
Nogales
Magdalena
Guaymas
Topolo-bampo
Culiacán
Guamúchil
Navojoa
Cd. Obregón
Monclova
Saltillo S. Catarina
Matehuala
S.L. Potosí
Cd. Victoria
Mante
Valles
Mexicali Rosarito
Ensenada
Perote
Zapopán
Pachuca Tula
Zamora
Uruapan Morelia
Aguascalientes
León
Acapulco
Querétaro
Toluca Puebla
Tehuacán
Villahermosa
Pajaritos/ Minatitlán
Xalapa Campeche
Reynosa
El Castillo Irapuato
Sala-manca
Celaya
Tierra Blanca
Escamela
Iguala
Cuautla
VdM
0.4 Mbd
28 Mbd
25 Mbd
36 Mbd
3 Mbd
1 Mbd
6 Mbd
86 Mbd
192 Mbd
6 Mbd
30 Mbd
9 Mbd
11 Mbd
10 Mbd
8 Mbd
20 Mbd
6 Mbd
Storage & distribution terminal (TAR)
Pipeline
Maritime route
Maritime imports
Inland route
Inland imports
Railway route
Refinery
21 Mbd
9 Mbd
2 Mbd
2 Mbd
1 Mbd
Bidirectional pipelines
G. Palacio Chihuahua
Matamoros Cadereyta
Madero Cadereyta
Tula Salamanca
Non-operational
Salamanca Zacatecas
Guamúchil Culiacán
Minatitlán V. Hermosa
Extension to Zamora
3
TAR
Tanks
Jet fuel ppl
Crude ppl
EB intermedia
Railways
Fuel oil ppl
Diesel ppl
CFE d
CFE c Interconection
Naphtha ppl
Existing ppl
New pipeline (ppl) Dock
ASA
Mexicali Tijuana
2 1
1 7
2
1 1
1
2
2 1
2 1 3 1
2
1 1
1
2
1
2
1
2 2
2 2
2
2
2
1
1 5
5
3 1 2
1 2
1
2
3 1
1 2
1
2
1
1
4
3
1
2
3 2
1 2
1
2
2
2
Poza Rica
Tuxpan
Centro
2
1
3 2
2
1
SLP
QRO
Salina
Cruz
Minatitlán
Pajaritos
Matamoros
Reynosa
Cadereyta
MTY
Piedras
Negras
Torreón
Durango
Burgos
Nuevo
Laredo
1
Altamira
Mazatlán
Tepic
Puerto
Vallarta
Zapopan
GDL
El
Castillo
AGS
Morelia
Topolobampo
Culiacán
Guaymas
Nogales
Hermosillo
Lázaro
Cárdenas
Uruapan
Veracruz
La Paz
Cd Juárez
Jiménez
Gómez
Palacio
1
6
Progreso
1
Sta.
Catarina
2
3
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Definition of systems based on production, transportation, storage and distribution to fulfill the demand in a region.
Systems
Developed projects Evaluated projects (cont.)
Golfo-Centro (Tuxpan-
Tula)
Salamanca-GDL.-
Manzanillo
Transoceánico Rosarito-Ensenada-
Mexicali
Peninsular Topo.-Guamúchil-
Culiacán
Norte 1 (Reynosa-Cadereyta-Sta. Catarina)
Guaymas-Hermosillo-
Nogales
Evaluated projects Lázaro Cárdenas
Centro (Tula-Charco
Blanco-Querétaro-
Salamanca)
Veracruz
Norte 2 (Sta. Catarina-
G. Palacio-Zacatecas) La Paz
Altamira-Cadereyta-
S.L.P.
Juárez-Chihuahua-
Gómez P.
1
3
4
5
2
6
7
8
9
10
11
13
14
15
12
4
Downstream: Logistic Infrastructure Systems
Downstream: Integration of Logistic Systems to Commercial Strategy
Nuevo Laredo
Cd. Juárez
Rosarito
Reynosa
Tuxpan/ Poza Rica
Pajaritos
Progreso
Topolo-
bampo
Guaymas
Ver.
Lázaro
Cárdenas
Manzanillo
Mazatlán
Salina Cruz
Tepic
Hermosillo
5
7
10
15 11
9
12
Peninsula
Central
3
North
Mexico City Valley
Imported products supply
Mexican products supply
4
13
14
South Pacific
US Border
Golfo de México
US Border: 5,6,9,11,15
North: 5,6,15
North Pacific: 8,10,11,14
Central: 1,2,6,8
South Pacific: 3,8,12
Mexican Gulf:1,2,3,7,13
Mexico City Valley: 1, 2
Peninsula: 4
Commercial regions
8
6
2
1
Pacífico Norte
Identified systems
Golfo-Centro 1 (Tuxpan-
Tula)
Rosarito-Ensenada-
Mexicali
Centro (Tula-Charco
Blanco-Qro.-
Salamanca)
Topolobampo-
Guamúchil-Culiacán
Transoceánico Guaymas-Hermosillo-
Nogales
Peninsular Lázaro Cárdenas
Norte 1 (Reynosa-
Cadereyta-Sta.
Catarina)
Veracruz
Norte 2 (Sta. Catarina-
G. Palacio-Zac.) La Paz
Altamira-San Luis
Potosí
Juárez-Chihuahua-
Parral-Gómez P.
Guadalajara-Manzanillo
2
1
4
3
5
6
7
8
10
9
12
11
13
14
15
5
The analysis is
conducted in
multidisciplinary
groups
Each project
must be
analysed
separately
At all times,
PEMEX must
comply with
governmental
limits &
regulations
The
characteristics
of the project
determine its
structure
Challenges
How should PEMEX structure a contract in order to be off-
balance and bankable?
Possible combinations =
possible results ^ number of
variables
6
Financial Strategies (1/2)
• Tolling Agreement
• Per service rendered
• Pemex
• Third party
• Shared
• Pemex
• Third party
• Shared
• Pemex
• Third party
• Shared
Control Risk
Payment Benefits
7
Financial Strategies (2/2)
MLP
(Fibra E)
Services
Agreements Financial
Leasing
Project
Finance
Platforms & vessels
Ports infrastructure
Water treatment facilities
Refinery reconfigurations
Logistic infrastructure
E&P: compression
Logistic systems:
Transoceanic
Gulf-Central Mexico
Midstream: non-processed hydro-
carbons transportation & treatment
Logistic infrastructure
Assets
Divestments
Los Ramones
Gasoductos de Chihuahua
8
