new companies to support pemex and the o&g opening in mexico · fertilizers and its derivatives...

PEMEX Investor Day London – October 6, 2015

New companies to support PEMEX and the O&G opening in Mexico

CARLOS ROA

Chief of Staff

State Productive Enterprises (SPEs)

Objectives

1

• Take advantage of developed infrastructure to create new businesses.

• Subject to the strategic direction of PEMEX.

• State-owned productive subsidiaries will be converted into affiliates when they

become:

Self-sustainable

Self-sufficient

Pension debt suported by operations

Current SPEs

2

• Production, distribution and commercialization of ethylene derivatives

Ethylene

• Production, distribution and commercialization of ammonia, fertilizers and its derivatives

Fertilizers

• Holding company to invest and develop power generation projects

Cogeneration & Services

• Transportation and storage services of hydrocarbons, petroleum products and petrochemicals

Logistics

• Drilling, completion, workover and well services Drilling & Services

Pemex Ethylene

Created with a set of pre-existing assets and

businesses, in order to better address business

opportunities

3

Pemex Ethylene

Petroquímica Mexicana

de Vinilo

(Coinvestment with

Mexichem)

Ethylene Cracker Ethylene

Vinyl Chloride Monomer

(VCM) VCM

Chlorine and Caustic

Sosa

UNIGEL

• Commercial agreement with Unigel (Latam acrylics

producer).

• Interesting market opportunity given the demand and

potential new uses of acrylonitrile.

Investment Portfolio

4

Petrochemical Complex Plants Products

Cangrejera

Ethylene Cracker Ethylene

Polyethylene (LD) LDPE

Ethylene Oxide Ethylene Oxide

Oxygen Oxygen

Morelos

Ethylene Cracker

Polyethylene (2 HD, 1 HD-LD) Ethylene

Ethylene Oxide LDPE, LLDPE, HDPE

Oxygen Ethylene Oxide

Acrylonitrile Glycols

Mono Ethylene Glycol (MEG) Acrylonitrile

Facilities

5

Pemex Ethylene

Pemex Ethylene

Business

Opportunity Capacity Description

Investment

Amount

Polyethylene 1,800 Mt/y Spin off of PET´s polyethylene plants and ethylene cracker in the

Cangrejera complex, for a fully integrated polyethylene business. Will

include a operation contract and an ethane supply contract with PEMEX.

USD 3 billion

Ethylene

Oxide - MEG

EO – 280 Mt/y

MEG – 175

Mt/y

Expansion on Ethylene Oxide plant from 280 to 360 Mt/y. The reactors

for the expansion were already purchased and on site. The MEG plant

has a capacity of 175 Mt/y. The complex also includes an Ethylene

Oxide purification unit. Sales will come from MEG and Ethylene Oxide.

USD 200 million

Ethylene

Storage

Terminal

10,000 tons

Refurbishment of a 10,000 tons liquefied ethylene storage facility (-400

C). The facility is connected to an ethylene network, which includes 4

petrochemical complexes. The investor would generate profitability

through a long term take or pay operation contract with the network

users.

TBD

Polyethylene

Logistics

Terminal

1,800 Mt/y Construction of storage silos, flexible dispatching modules (sacks, bulk

rail). The company would invest in the necessary facilities and operate

the terminal with a long term contract to handle all of the production.

TBD

6

Pemex Fertilizers

State-owned productive subsidiary with legal

personality and equity, subject to PEMEX’s

strategic direction

7

Pemex Fertilizers

Product Facilities Production capacity

Ammonia Cosoleacaque, Veracruz 5760 t/d

4 plants

Ammonia Camargo, Chihuahua 130 Mt/y

1 plant

Urea

Pajaritos, Veracruz

625 t/d of Nitric Acid

818 t/d of Ammonium Nitrate

3000 t/d of Urea

Main Facilities and Production

8

Pemex Fertilizers

Project Capacity Description Investment

Topolobampo,

Sinaloa

2x20 Mt tank – operational

3 reciprocating compressors

Train and truck facilities – non-

operational

Revamp USD 25 million

Lazaro Cárdenas,

Michoacán

1x20 Mt tank – non-operational Revamp USD 47 million

Salina Cruz, Oaxaca

2x20 Mt tank – operational

7 reciprocating compressors


Pajaritos, Veracruz

2x20 Mt tank


Business Opportunities

9

Cogeneration

Increase efficiency and operational reliability,

reduce operating costs, become energy self-

sufficient, reduce GHG emissions, and

participate in the electricity market

10

PEMEX Industrial

Plants

Petróleos Mexicanos

PEP/ PGPB/

PR/ PPQ Cogeneration

Sale of electricity

and steam

Sale of surplus

electricity

ESA Contribution Capital investment contribution

Partners

4 SPEs

Market

TRI

Business Model

Cogeneration

Partnership

11

Cogeneration • One plant in operation.

• Partnerships to develop four additional plants: 2,350 MW of electricity and 3,700 tph of steam. Operational in 2018-

2019.

800 500 1,200

1,100 900 4,500

300 650

600 600 500 2,650 Electrical capacity

(MW)

Thermal capacity

(tph)

Investment

(MMUSD) 680 800

950 500 800 3,730

Cadereyta Total Salina Cruz Tula Cactus

Partners

Nuevo Pemex

12

Pemex Drilling & Services

Increase shallow water drilling market share

through the acquisition of 10 new generation

jack-up rigs, and 7 modular rigs of 3000 HP

13


Rigs

(PEMEX &

Contractors)

Type Remarks

2 Jack up Drilling Rigs 2 new rigs of 350 ft

17 Modular Rigs 2000 HP

53 Onshore Drilling Rigs 750-3000 HP

35 Onshore Workover Rigs 200-600 HP

44 Logging Units Logs and perforating tubing system

services

62 Slickline Units Well information

57 Cementing Units Cementing jobs

10 Coiled Tubing Units Coiled Tubing services

14


Investment

Plans

Replacement of 45 onshore drilling rigs

Replacement of 17 offshore drilling rigs

Acquisition of 39 onshore drilling rigs

Business Opportunities

15

3.9 4.84.5

6.5

7.2

8.1

8.4

12.3

3.12.4

5.03.8

3.3

2.5

2014

0.7

2018

13.0

1.7

1.8

2015

7.6

2013

+12%

2024

21.3

2021

17.3

DRILLING AND SERVICES MARKET IN MEXICO

(OFFICIAL STAGE OF PRODUCTION)

USD Billion

ONSHORE

OFFSHORE

ONSHORE

OFFSHORE

RIGS

SERVICES

TOTAL

Conventional

Non conventional

Shallow Water

Deep water

6.9 5.7

4.6 3.0

+

+

2015

2.7

2024

8.8

2021

7.1

2018

5.0

5.2 4.4 3.7 2.5

0.9 0.5 1.7 1.3

3.3 2.8 2.4 1.4

2024

5.5

2021

4.3

2018

2.6

2015

1.3

+


16

MATERIALES1 Y LOGÍSTICA2

5.6 4.5

3.4 1.9

LOGISTICS & MATERIALS


Strategic Partnerships

Strategic Alliance

other Companies

JVs to participate in Integrated E&P Contracts.

Alliances for bidding participation in CNH rounds.

Providing Services in new markets for National and International Oil Companies.

Strategic Alliance

for Rigs

Rig Replacement through Drilling Rig Manufacturing Leaders.

Regional Operation Centers in alliance with Service Companies (equipment,

materials and services procurement, workshops, training, finance and technology

exchange).

Strategic Alliance in

Well Services

Partnerships to operate Stimulation and Drilling Fluid Plants.

JVs to access directional drilling services and technology of Bits.

Access to basic and advanced technology and perforating tubing, logs and coiled

tubing services.

17

Logistics

Operations of transportation infrastructure and

storage of hydrocarbons (primary midstream), as

well as petroleum and petrochemicals under

permissions and feed-in tariff and cost-efficient

18

Logistics

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

Logistics System

Grouping of existing and projected

logistics infrastructure involved

(national or imported) production,

transport, storage and distribution

to satisfy the demand of one or

several markets

Logistics systems were analyzed

and re-defined to complement

the existing infrastructure serving

as a basis for the generation of

business cases

TAR

Tanks

Turbosina duct

Oil duct

EB intermedia

Infra FFCC

Cope duct

Diesel duct

CFE d

CFE c Interconnection

Nafta duct

Existing pipeline

New pipeline Dock

ASA

Logistic infrastructure systems defined

19

Approved projects

1

2

3

4

8

5

6

7

12

9

10

15

11

13

14

Investor Relations

(+52 55) 1944-9700

[email protected]

www.pemex.com/en/investors/

• Carlos Roa

• [email protected]

new companies to support pemex and the o&g opening in mexico · fertilizers and its derivatives...

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