Rwe Ag · XETR:RWE
Rwe — RWE Dea — FY2011 Earnings Presentation
32 slides from Rwe's earnings presentation, Mar 20, 2012
Slide 1: Annual Press Conference for Fiscal 2011
Annual Press Conference for Fiscal 2011 Hamburg, 20 March 2012 Welcome to RWE Dea RWE Dea AG | 06. April 2011 | Jahrespressekonferenz zum Geschäftsjahr 2010 Page 1
Slide 2: RWE Dea …
RWE Dea … … increases production and boosts results significantly. Norway … gets major field developments UK Denmark under way. Ireland Poland … is extremely successful in Germany exploration and obtaining Turkmenistan access to new licences for future growth. Algeria Libya Egypt … increases resourc
Slide 3: Crude price (Brent)
Crude price (Brent) still strong following record high $/bbl; €/bbl, monthly averages 135 125 115 105 $/bbl 95 85 75 €/bbl 65 55 45 35 25 15 5 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 PAGE 3
Slide 4: Gas prices Germany and United Kingdom
Gas prices Germany and United Kingdom trending upwards €/MWh, monthly averages 50 40 30 GBP 20 NBP 10 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 GBP German Border Price NBP National Balancing Point (United Kingdom) PAGE 4
Slide 5: RWE Dea Production 2011
RWE Dea Production 2011 above previous year Deviation Actuals 2011 Actuals 2010 absolute % Gas Production mn. m3 Germany 1,821 1,973 -152 -7.7 Norway 275 153 +122 +79.7 UK 544 632 -88 -13.9 Egypt 25 28 -3 -10.7 Total Gas Production 2,665 2,786 -121 -4.3 Oil Production M m3 Germany 835 770 +65 +8.4 D
Slide 6: RWE Dea Group Result
RWE Dea Group Result significant increase of the result Deviation mn. € Actuals 2011 Actuals 2010 absolute % Production 838 591 247 42 Exploration -171 -168 -3 -2 New Ventures -28 -24 -4 -17 Operative Services -38 -37 -1 -3 Group Administration/Services -43 -57 14 25 Operating profit 558 305 253 83
Slide 7: RWE Dea investments
RWE Dea investments at a high level for growth projects € million 1.000 800 855 600 688 606 481 505 507 400 290 200 248 0 2004 2005 2006 2007 2008 2009 2010 2011 RWE Dea AG | 2012 March 20 | Annual Press Conference for Fiscal 2011 PAGE 7
Slide 8: RWE Dea Key Figures
RWE Dea Key Figures significantly upwards Deviation (mn. €) Actuals 2011 Actuals 2010 absolute % Capital employed 2,768 2,509 +259 +10 Operating result 558 305 +253 +83 Value added 205 -8 +213 ---- Cashflow from operating 720 489 +231 +47 activities RWE Dea AG | 2012 March 20 | Annual Press Conferen
Slide 9: RWE Dea …
RWE Dea … … exceeded previous year's level of production. … increased operating profit by 83%. … invested at a high level. … finances investments completely from its cashflow from operating activities. RWE Dea AG | 2012 March 20 | Annual Press Conference for Fiscal 2011 PAGE 9
Slide 10: RWE Dea projects in the pipeline
RWE Dea projects in the pipeline success along the process chain New Ventures Exploration Appraisal Field development New production Eastern Europe Egypt Titan, Zidane Clipper South, Breagh, Gjøa (Norway) Caspian Region Germany (Norway) Devenick (UK) Africa Ireland North El Amriya West Nile Delta, D
Slide 11: Main commercial discoveries 2011
Main commercial discoveries 2011 Successful finds 53% Egypt: > Python (North El Amriya): RWE Dea stake 100% – gas discovery > Yazzi (North El Amriya): RWE Dea stake 100% - gas discovery > El Arish Shallow (North Alex): RWE Dea stake 40% – oil/gas discovery > Rayan 3x (West Wadi El Rayan): RWE Dea st
Slide 12: Exploration: Germany
Exploration: Germany Böstlingen Z2 strike, Wadden Sea exploration applied for Böstlingen Z2 (concession Celle: RWE Dea 50%, Operator EMPG) > Horizontal well Böstlingen Z2a opened up over 1.000 m of gas-containing sandstone formations. > The well is commercially viable in terms of gas strikes. Wadden
Slide 13: Exploration in the German Wadden Sea
Exploration in the German Wadden Sea In case of success we produce via Mittelpalte or onshore facilities more information: www.erdölsucher.de PAGE RWE Dea AG | 2012 March 20 | Annual Press Conference for Fiscal 13 2011
Slide 14: RWE Dea projects in the pipeline
RWE Dea projects in the pipeline Exploration & development projects secure production increase New Ventures Exploration Appraisal Field development New production Eastern Europe Egypt Titan, Zidane Clipper South, Breagh, Gjøa (Norway) Caspian Region Germany (Norway) Devenick (UK) Africa Ireland Nort
Slide 15: Overview of core region of Europe
Overview of core region of Europe Growth through field development and exploration Main issues 2011 > Production increase 2011 largely thanks to Gjøa and Mittelplate, with gas production stable in Germany and the UK. > Field development projects advanced in Norway and the UK field development projec
Slide 16: Production in Germany
Production in Germany Implementation of innovative production technologies Mittelplate (Operator RWE Dea 50%) Status: > Multilateral well A7b uses efficient multilateral technology. Mittelplate > Target: reservoir horizons south of the central field. > A further objective of the well is the southeas
Slide 17: Production in Germany
Production in Germany Remediation concept in Völkersen close before implementation Völkersen (Operator RWE Dea 100%) > In the course of gas production at Völkersen, reservoir water is discharged, which is fed to a well via a PE pipeline network, from where it is pumped underground again. Völkersen >
Slide 18: Field developments in the UK
Vertraulich! Field developments in the UK Breagh und Clipper South on track Breagh (Operator RWE Dea 70%) Breagh Start of production: > 2012 Current Status: > Installation of platform completed. > Production to commence soon. Clipper South (Operator RWE Dea 50%) Start of production: > 2012 Current S
Slide 19: Field development UK Project Breagh
Fielddevelopment UK Project Breagh Installation of the Platform PAGE 19
Slide 20: Field development UK Project Breagh
Field development UK Project Breagh Installation of the gas treatment plant Teesside TGPP Transportation of the "Slug Catchers" Basements for the "Slug Catchers" RWE Dea AG | 2012 March 20 | Annual Press Conference for Fiscal 2011 PAGE 20
Slide 21: Field development UK Project Clipper South
Field development UK Project Clipper South Installation of the platform PAGE 21
Slide 22: Field development Norway
Field development Norway Knarr in preparation, application for Luno under way Knarr, formerly Jordbaer (RWE Dea 10%, Operator BG) Start of production: > 2014 Current status: > Construction of FPSO vessel is proceeding apace (FPSO= floating, production, storage and offloading). Knarr Luno (RWE Dea 20
Slide 23: Field development Norway
Field development Norway FPSO vessel for Knarr and planned Luno Platform RWE Dea AG | 2012 March 20 | Annual Press Conference for Fiscal 2011 SEITE PAGE 23 23
Slide 24: Overview of core region of North Africa
Overview of core region of North Africa Broadly positioned for further growth Main issues 2011 > Egypt: Production by Suez Oil Company higher than in 2010, Disouq and West Nile Delta field developments are making progress. > Algeria: Field development Reggane received government approval. > Libya: F
Slide 25: Field developments in Egypt
Field developments in Egypt West Nile Delta project delayed slightly, Disouq is under way West Nile Delta (N. Alex: RWE Dea 40%, W. Med. Deep RWE Dea 20%; Operator BP) Start of production: West Nile Delta > 2015 Current status: > Start of construction for the gas treatment plants has been delayed sl
Slide 26: RWE Dea …
RWE Dea … … operates from a broad base in Europe and North Africa. … is very successful in exploration. … gets major field developments under way. RWE Dea AG | 2012 March 20 | Annual Press Conference for Fiscal 2011 PAGE 26
Slide 27: RWE Dea Reserves and Resources
RWE Dea Reserves and Resources increased further mn. m³ OE 300 180 170 192 208 223 228 237 250 200 91 104 150 64 143 75 111 134 100 137 133 50 116 95 81 74 80 0 2005 2006 2007 2008 2009 2010 2011 Contingent resources Reserves RWE Dea AG | 2012 March 20 | Annual Press Conference for Fiscal 2011 PAGE
Slide 28: Expansion of production
Expansion of production projects under way secure future success > Main production growth by designated gas Africa Gas development projects > Gemany and Europe 2010 remain an important Europe Gas production region > Increase of production in Africa Oil North Africa Europe Oil 2010 2016 RWE Dea AG |
Slide 29: Expansion of New Venture activities
Expansion of New Venture activities Selected countries Norway United Kingdom Denmark Ireland Poland Germany Trinidad & Tobago Azerbaijan Turkmenistan Algeria Libya Egypt Mauritania Exploration and Production Exploration Current areas of interest New areas of interest RWE Dea AG | 2012 March 20 | Ann
Slide 30: Good prospects for 2012
Good prospects for 2012 2011 2012 Employees (full-time equivalents) 1,362 Investments (€ million) 688 Capital employed (€ million) 2,768 Production (M. m3 Oil Equivalents) 5,056 Operating profit (€ million) 558 Value added (€ million) 205 RWE Dea AG | 2012 March 20 | Annual Press Conference for Fisc
Slide 31: Outlook: RWE Dea will …
Outlook: RWE Dea will … … continue to treat safety and environment as the top priority. … set up a continuous dialogue. … implement field development projects. … continue with successful exploration. … balance the international portfolio. … continue to boost production and result. … RWE Dea represen
Slide 32: Thank you for your kind attention.
Thank you for your kind attention. RWE Dea AG | 06. April 2011 | Jahrespressekonferenz zum Geschäftsjahr 2010 Page 32