Company Report

PTTEP corporate report

Get this report


You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

- FAQ's about online orders
- Find out more about subscriptions

09 November 2017

PTTEP corporate report

Report summary

PTTEP's response to the oil price crash has been to defend its strong financial position and look for countercyclical business development opportunities. Budgets and dividends have both been cut. The company's five-year plan has seen exploration investment reduced to low levels and M&A is now central if PTTEP is to deliver growth. We believe that PTTEP will follow a dual acquisition strategy targeting i) deals that add to its established business in South East Asia and ii) growth opportunities that focus the international portfolio towards material positions in selected resource themes.

Table of contents

  • Organisational structure
  • Overview
    • Strategic fit of upstream regions
    • 1. Maintaining the domestic business
    • 2. International portfolio development
    • 3. Business development/M&A and developing the post-2020 vision
    • Business development/M&A drivers
    • 4. Conservative financial management
    • Cash flow breakeven outlook
    • Net debt and gearing outlook
  • Wood Mackenzie base case valuation metrics
  • Wood Mackenzie base case investment and cost metrics
  • Wood Mackenzie base case production metrics
  • Wood Mackenzie base case reserve and resource metrics
  • Economic assumptions

Tables and charts

This report includes 43 images and tables including:

  • Relative share price performance
  • Benchmark: market premium/discount to WM NPV,10
  • Base case upstream NPV10
  • Current NPV10 vs. future NPV10
  • Upstream EV vs. Upstream NPV10
  • Upstream portfolio sensitivities vs. Upstream EV
  • Forecast development expenditure (nominal)
  • Forecast operating expenditure (nominal)
  • Reported and unit development costs
  • New project returns
  • Reported and WM forecast production
  • Liquid vs. Gas
  • Liquid production
  • Gas production
  • Total reserves: Wood Mackenzie commercial
  • Total reserves: reported vs. Wood Mackenzie
  • Total reserves: reported vs. Wood Mackenzie
  • Reserve life: reported vs. Wood Mackenzie
  • Base price assumptions (nominal terms)
  • Base price assumptions (nominal terms)
  • Base, high and low Brent (nominal terms)
  • High price assumptions
  • Low price assumptions
  • Value assumptions
  • Foreign exchange rate assumptions
  • Benchmarking: production CAGR
  • Benchmarking: % gas production
  • Benchmarking: NPV,10 by resource theme
  • Investment by country
  • Domestic production by asset
  • Domestic capital investment by asset
  • International production by asset
  • International capital investment by asset
  • Thailand total energy demand
  • Thailand gas supply-demand
  • Cash flow breakevens
  • Benchmarking: upstream cash flow breakevens
  • Evolution of year-end net cash
  • Breakdown of upstream cash flow by country
  • PTTEP upstream portfolio summary: key facts
  • Top upstream assets by value
  • Top assets by value

What's included

This report contains:

  • Document

    PTTEP Corporate Report.xls

    XLS 3.61 MB

Trusted by leading organisations