1 - Pemex

Collaboration to improve PEMEX's performance, project
development and excellency in the O&G sector
PEMEX Investor Day London – October 6, 2015
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
Five-year Plan
Exploration Extraction
Round
Round
Round 1
Round 2
Round 3
Round 4
Round 1
Round 2
Round 3
Round 4
1
Upstream: Different Business Characteristics
Require Different Approaches
Partner
Business case
Pre-selected
Reassess upside and profitability
under a new contractual model
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
CIEP and COPF
Farm-outs
2
Downstream: Current Infrastructure & Logistics
36 Mbd
Rosarito 21 Mbd
Mexicali
28 Mbd
9 Mbd
Ensenada
Nogales
1 Mbd
44 pipeline systems; length:
~9,000 km
10 ROP, 5 Maritime terminals
and 77 TAR
Cd.
Juárez
2 Mbd
Magdalena
8 Mbd
2 Mbd
Hermosillo
Chihuahua
Guaymas
6 Mbd
20 Mbd
Cd.
Obregón
Nuevo
Laredo
Parral
Monclova
Navojoa
Topolo-bampo
6 Mbd
Bidirectional pipelines
11 Mbd
Reynosa
Guamúchi
l
La Paz
9 Mbd
Sabinas
G. Palacio
Matamoros
Saltillo
Durango
30 Mbd
S. Catarina
Cadereyta
Culiacán
0.4 Mbd
Cd. Victoria
Mazatlán
Tepic
Refinery
Pipeline
Storage & distribution terminal (TAR)
Inland route
Inland imports
Railway route
Cadereyta
Tula
Salamanca
Toluca
Cuautla
Cuernavaca
Iguala
L. Cárdenas
Non-operational
Progreso
Tuxpan/
Poza Rica
Mérida
QueréTula
taro
Pachuca
Perote
86 Mbd
Zamora Sala- Celaya
Xalapa
manca
VdM
Veracruz
Puebla
Uruapan Morelia
Acapulco
Madero
192 Mbd
Irapuato
1 Mbd
Cadereyta
25 Mbd
Valles
Zapopán
Colima
Matamoros
Madero
León
El Castillo
Chihuahua
3 Mbd
S.L.
Potosí
Aguascalientes
Manzanillo
Maritime route
Maritime imports
Matehuala Mante
Zacatecas
10 Mbd
6 Mbd
G. Palacio
Escamela
Tierra
Blanca
Campeche
Pajaritos/
Minatitlán
Villahermosa
Salamanca
Zacatecas
Guamúchil
Culiacán
Minatitlán
V. Hermosa
Tehuacán
Extension to Zamora
Oaxaca
Tuxtla G.
S. Cruz
Tapachula
3
Downstream: Logistic Infrastructure Systems
Definition of systems based on production, transportation, storage and distribution to fulfill the demand in a region.
3
1
9
1
Mexicali
Tijuana
2
15
1 2
1
2
11
2
Nogales
2
2
Developed projects
1
1
Piedras
Negras
Guaymas
3
2
2
1Torreón
6
6
10 Topolobampo Jiménez
2
3
2
14
Evaluated projects (cont.)
Hermosillo
2
2
Systems
1 Cd Juárez
Gómez
3
3 La Paz
1
Mazatlán Culiacán Palacio
Laredo
Reynosa
1
Matamoros
MTY
2
Golfo-Centro (TuxpanTula)
8
Salamanca-GDL.Manzanillo
3
Transoceánico
9
Rosarito-EnsenadaMexicali
4
Peninsular
10
Topo.-GuamúchilCuliacán
5
Norte 1 (ReynosaCadereyta-Sta.
Catarina)
11
Guaymas-HermosilloNogales
12
Lázaro Cárdenas
2
Centro (Tula-Charco
Blanco-QuerétaroSalamanca)
13
Veracruz
6
Norte 2 (Sta. CatarinaG. Palacio-Zacatecas)
14
La Paz
7
Altamira-CadereytaS.L.P.
15
Juárez-ChihuahuaGómez P.
5
2Nuevo
Sta.
Catarina
2
1
1
1
Cadereyta
Burgos
1
14
Durango
3
7
1
1
Tepic
AGS 1
8
2
1
5 QRO
2
Morelia
2Uruapan2
Puerto
Vallarta
2 2
1
2 GDL
Zapopan
El
2 2 Castillo
2
7
Progreso
2
1
Tuxpan
12
Poza Rica
1
1
5
1
1
1
31
2
1
Evaluated projects
1
2 1
13
1Centro
2
12
4
Altamira
SLP
Veracruz Pajaritos
2
Minatitlán
Lázaro
Cárdenas
Salina
Cruz
3
TAR
CFE d
New pipeline (ppl)
Jet fuel ppl
Fuel oil ppl
Naphtha ppl
EB intermedia
Dock
Tanks
CFE c
Existing ppl
Crude ppl
Diesel ppl
Interconection
Railways
ASA
4
Downstream: Integration of Logistic Systems
to Commercial Strategy
Identified systems
Rosarito
US Border
Cd. Juárez
Imported products supply
9
1
Golfo-Centro 1 (TuxpanTula)
9
Rosarito-EnsenadaMexicali
2
Centro (Tula-Charco
Blanco-Qro.Salamanca)
10
TopolobampoGuamúchil-Culiacán
3
Transoceánico
11
Guaymas-HermosilloNogales
4
Peninsular
12 Lázaro Cárdenas
5
Norte 1 (ReynosaCadereyta-Sta.
Catarina)
13 Veracruz
6
Norte 2 (Sta. CatarinaG. Palacio-Zac.)
14 La Paz
7
Altamira-San Luis
Potosí
15
8
Guadalajara-Manzanillo
Mexican products supply
11
15
Hermosillo
North
Nuevo Laredo
Guaymas
5
Pacífico
TopoloNorte
Reynosa
6
bampo
10
14
Commercial regions
US Border: 5,6,9,11,15
North: 5,6,15
Mazatlán
Golfo de
México
Tepic
Central
1
8
North Pacific: 8,10,11,14
Central: 1,2,6,8
Manzanillo
Tuxpan/
Poza Rica
Mexico
City
Ver.
Valley
13 Pajaritos
12
Lázaro
Mexican Gulf:1,2,3,7,13
Cárdenas
Peninsula: 4
Progreso
2
South Pacific: 3,8,12
Mexico City Valley: 1, 2
Peninsula
7
3
4
Juárez-ChihuahuaParral-Gómez P.
Salina Cruz
South Pacific
5
Challenges
The
characteristics
of the project
determine its
structure
Each project
must be
analysed
separately
How should PEMEX structure
a contract in order to be offbalance and bankable?
The analysis is
conducted in
multidisciplinary
groups
Possible combinations =
possible results ^ number of
variables
At all times,
PEMEX must
comply with
governmental
limits &
regulations
6
Financial Strategies (1/2)
• Pemex
• Third party
• Shared
• Pemex
• Third party
• Shared
• Pemex
• Third party
• Shared
Control
Risk
Benefits
Payment
• Tolling
Agreement
• Per service
rendered
7
Financial Strategies (2/2)
Ports infrastructure
Water treatment facilities
Refinery reconfigurations
Logistic infrastructure
E&P: compression
Logistic systems:
Transoceanic
Gulf-Central Mexico
Services
MLP
Agreements
(Fibra E)
Midstream: non-processed hydrocarbons transportation & treatment
Logistic infrastructure
Project
Financial
Leasing
Platforms & vessels
Finance
Assets
Divestments
Los Ramones
Gasoductos de Chihuahua
8
Investor Relations
(+52 55) 1944-9700
[email protected]
http://www.pemex.com/en/investors/