steve crowell ceo, pluspetrol building a company iapg houston - june 2014
TRANSCRIPT
Steve CrowellCEO, PLUSPETROL
Building a Company
IAPG HOUSTON - JUNE 2014
CONTENT
① Who are we?
② What do we look like?
③ Why do we look like
this?
④ How do we go forward?
Who Are We?
1
1. WHO ARE WE?
• A private independent E&P company
• More than 35 years in the industry
• Operates in 7 countries, in South America & West Africa
What Do We Look Like?
2
2. WHAT DO WE LOOK LIKE?
Argentina
Angola
Bolivia
Chile
Colombia
Perú
Venezuela
2. WHAT DO WE LOOK LIKE?
• Production: 538 MBOE/d
• Reserves: 887,5 MMBOE*
• Total Net Sales(PP share): 2526 MMU$S
* P1/ December 31st. 2013
2. WHAT DO WE LOOK LIKE?
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
0
1,000
2,000
3,000
4,000
5,000
6,000 Assets [MMUSD]
2. WHAT DO WE LOOK LIKE?1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
0
50,000
100,000
150,000
200,000Operated Oil & Liquids Production [Mbbl/day]
2. WHAT DO WE LOOK LIKE?
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
0
500
1,000
1,500
2,000
2,500 Operated Gas Production [MMCF/day]
Why Do We Look Like This?
3
We have a vision
To excel as a benchmarking company among the international energy companies.
3. WHY DO WE LOOK LIKE THIS?
Thinking beyond obvious possibilities.
Taking action despite uncertainty.
Being persistent.
We have values
3. WHY DO WE LOOK LIKE THIS?
We have a business model
3. WHY DO WE LOOK LIKE THIS?
We reinvestfor growth
GOOD ROCKS
ENVIRONMENT
POLITICS
COMMUNITY
• Capabilities
• Profitability
We have acquired skills… starting from challenges!
Let’s talk about our process of growth.
3. WHY DO WE LOOK LIKE THIS?
3. WHY DO WE LOOK LIKE THIS?
1977 / Centenario Field - Argentina
• Old oil rehabilitation
1979 / Ramos Field - Argentina
• High pressure gas
• Complex logistics
3. WHY DO WE LOOK LIKE THIS?
1996 / Block 8 - Perú
• Complex logistics
• Old oil rehabilitation
• High water treatment
• Communities relationships
• Environmental sensitivity
3. WHY DO WE LOOK LIKE THIS?
1997 / Tacobo - Bolivia
• High pressure gas
• Complex logistics
3. WHY DO WE LOOK LIKE THIS?
1998 / Centenario Field – Argentina
• Tight gas / fracking
3. WHY DO WE LOOK LIKE THIS?
1999 / Block 1AB - Perú
• Old oil rehabilitation
• Complex logistics
• High water treatment
• Heavy oil
3. WHY DO WE LOOK LIKE THIS?
2000 / Camisea Project – Perú
• High pressure gas
• Complex logistics
• Communities relationships
• Environmental sensitivity
• Political & media relationships
3. WHY DO WE LOOK LIKE THIS?
2002 / Venezuela
• High pressure gas
• Complex logistics
3. WHY DO WE LOOK LIKE THIS?
2008 / Colombia
• Heavy oil
• Complex logistics
3. WHY DO WE LOOK LIKE THIS?
2009 / Petroandina
• Heavy oil
• Sand control
3. WHY DO WE LOOK LIKE THIS?
2009 / Angola
• Complex logistics
• Communities relationships
• Environmental sensitivity
3. WHY DO WE LOOK LIKE THIS?
2013 / Unconventionals blocks*
• Fracking
3. WHY DO WE LOOK LIKE THIS?
* In process
2013 / Petrodelta *
3. WHY DO WE LOOK LIKE THIS?
* In process
Our Development Model
4
4. OUR DEVELOPMENT MODEL
We acquire new
skills out of challengesbut skills alone are not enough.
4. OUR DEVELOPMENT MODEL
Uncertainty grows
For the Oil & Gas industry
sustainability is getting
• Tougher• More complex• More competitive
4. OUR DEVELOPMENT MODEL
• We have a vision and values that compel us
to think bigger and dare to the new.
• We have a business model for growth in
profitability and capabilities.
• We have acquired skills out of challenges.
We have a development model
A model to balanceour decisionsand manage uncertainty
4. OUR DEVELOPMENT MODEL
Skills
Business Model
Vision /
Values
4. OUR DEVELOPMENT MODEL
With our development model
• We reduce uncertainty (we get smarter as we grow!).
• We honor long term commitments with the countries
where we operate.
• We embrace challenges as opportunities.
4. OUR DEVELOPMENT MODEL
With our development model
We bring true growth for Pluspetrol, for our employees, for the
communities and for the host countries on a long term basis.
Thank You
IAPG HOUSTON – JUNE 2014