131121_pttep

8/13/2019 131121_pttep

1/37

Passion to Explore for a Sustainable Future

Opportunity Day: Q3 2013

Paragon Hall , SET in City by Stock Exchange of Thailand

November 21, 2013

8/13/2019 131121_pttep

2/37

2 / 18

9M 2013 Financial Performance2

Company Overview and Oil Price1

3

Key Takeaway4

3Q Achievements and Operation Update

8/13/2019 131121_pttep

3/37

Content ceiling cut-off

C

ontentwidthcut-offC

ontentwidthcut-off

9.45

11.27

11.94

12.08

13.79

16.18

17.99

21.24

22.11

28.12

AOT

PTTGC

CPALL

BBL

KBANK

SCC

SCB

PTTEP

ADVANC

PTT

(US$bn)

Leading Regional Exploration and Production CompanyLargest publicly-listed E&P company in Southeast Asia

PTT65.3%

Others34.7%

Others73%

PTTEP27%

PTTEP Thailand

Moodys Baa1 Baa1

S&Ps BBB+ BBB+

JCR A- A-

TRIS AAA N/A

Source: Bloomberg as of 18 November 2013

Shareholding structure

PTTEP is the 3rdlargest company on

the Stock Exchange of Thailand ("SET")

is a subsidiary of PTT Public Company

Limited

is on par with sovereign ratings

and contributes more than 1/4 of Thailand's

total petroleum production

Source: Department of Mineral Fuels, PTT, PTTEP (July 2013)

Note: As of 31 October 2013

Note: Foreign currency credit rating except TRIS for local currency rating

3 / 18

8/13/2019 131121_pttep

4/37


C

ontentwidthcut-offC

ontentwidthcut-

off

Strong Reserves and Resources BaseExpanding resources base via international projects to sustain future growth

1,043 969 901

571 898 885

790

1,350

2,200

0

1,000

2,000

3,000

4,000

5,000

2010 2011 2012

MMBOE

Proved (P1) Probable (P2)

2,404

3,216

3,986

Reserves /

Resource Life1

Contingent (2C)

8 Years

16 Years

35 Years

2012 by Geography

0

500

1000

1500

2000

2500

3000

3500

4000

Reserves

(P1 + P2 + 2C)P1 P1 + P2

71%58%

54%29%

42%

46%

0

500

1000

1500

2000

2500

3000

3500

4000

Reserves

P1 P1 + P2

2012 by Product Type

Domestic International

Gas Liquid

Resources Base

(P1 + P2 + 2C)

Resources Base

44%56%

50% 29%

50%

71%

901

1,786

3,986

901

1,786

3,986

Note:1 Based on total production of natural gas, crude oil (including bitumen) and condenstate of 314 KBOED for the year ended December 31, 2012

5-Year Average Proved ReservesReplacement Ratio (RRR)

2010 2011 20121.21x 1.10x 0.91x

4 / 18

8/13/2019 131121_pttep

5/37


C

ontentwidthcut-offC

ontentwidthcut-

off

Oil Prices

5 / 18

Fundamental drivers still unchanged

-4

-2

0

2

4

6

8

85

95

105

115

125

135

Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13

$ DifferenceUS$ / BarrelBrent-Dubai (RHS) Dubai (LHS)

Brent (LHS)

0

5

10

15

20

25

30

35

40

45

40

60

80

100

120

Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13

$ DifferenceUS$ / Barrel

WTI-WCS (RHS) WTI (LHS) WCS (LHS)

Sources : PTTEP, Bloomberg as of Oct. 1, Reuters Oil Poll Oct. 29, 2013

Brent Forecast (LHS)

WTI Forecast (LHS)

Range$102$115

Mean

$107.5

Mean

$102.2

Range$95$107

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13

Crude Oil Price Dynamics

Heavy-Light DifferentialQ2 13 Rest of 2013Q3 13

Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Rest of 2013Q3 13

Circumstances include:

Volatility resulting from in US

Refinery utilization rates

Downward pressure on WCS

o Delays in pipeline projectsoutwards from Canada

o Increased bitumen supplyfrom project ramp ups

Upside drivers

Middle-east geopolitical risks

OPEC supply disruption

U.S. Recovery

Downside drivers

Non-OPEC supply on-stream

Fragile Chinese economy

Prolonged Eurozone weakness

8/13/2019 131121_pttep

6/376 / 18

9M 2013 Financial Performance2Company Overview and Oil Price1

3

Key Takeaway4


8/13/2019 131121_pttep

7/37


Contentwidthcut-offC

ontentwidthcut-

off

PTTEP Sales Volume and Average Product PriceAverage product price slightly increased along with liquid price

Volume Mix

Sales Price 2010 2011 2012 9M 13 9M 12

Gas ($/MMBTU)

Liquid ($/BBL)

Weighted Avg. ($/BOE)

5.52

73.77

44.836.00

102.23

55.497.59

103.27

64.868.02*

99.68

65.967.43

103.82

64.30Avg. Dubai ($/BBL)

Avg. HSFO ($/BBL)

78.11

72.57

105.52

99.81

109.03

103.26

105.00

97.89109.56

108.21

290,240

Gas65%

Liquid35%

Revenue Mix

Gas46%

Liquid54%

9M 2013

(High Sulphur Fuel Oil)

188,385 186,982 183,314 189,392 179,771

76,190 78,065 92,609100,848

90,005

0

100,000

200,000

300,000

Liquid

Gas

BOED

265,047 269,776264,575275,923

Sales Volume

* Includes one-time adjustment (retroactive) of the conversion factor in Yadana and Yetagunsgas price formula.Gas price excluding adjustment would be $7.97 /MMBTU for 9M 13

7 / 18

8/13/2019 131121_pttep

8/37



ontentwidthcut-

off

Operating PerformanceSlightly higher costs in-line with Montara first sales

(US$/BOE) 2010 2011 2012 9M 13 9M 12

Lifting Cost 3.75 4.35 4.28 4.72 4.095 Year AverageF&D Cost 13.90 19.70 28.97 N/A N/A5 Year AverageOrganic F&D

13.39 15.82 21.17 N/A N/A

Success

Ratio*15:19 11:25 43:54 26:38 30:37

0

10

20

30

40

9M 13

$/BOE

2010 20122011

14.5

9M 12

32.22

* Exploration and Appraisal Wells

Note : The formulas for calculating ratios are provided in the supplementary section for your reference

** Exclude diluent cost for blending bitumen in KKD Oil Sands project

10.9

23.67

DD&A

RoyaltiesG&A

Exploration Exp.

Operating Exp.**

10.53

5.442.06

0.90

4.74

Cash Cost Unit Cost

13.61

7.803.09

2.11

5.61

11.55

6.672.67

2.24

5.73

14.85

7.752.40

1.45

5.96

13.73

7.772.75

1.95

5.34

28.8632.41

13.1 14.7 14.3

31.54

Drilling Success Ratio (Number of Successful wells : Total*)

8 / 18

8/13/2019 131121_pttep

9/37



ontentwidthcut-off

Financial Highlights (1 / 2)Maintaining strong EBITDA margin and operating cash flows

2010 2011 2012

4,532 5,685 7,021

3,171 3,814 4,816

71 69 70

Total Revenue (MMUS$)

EBITDA (MMUS$)

EBITDA Margin (%)

Operating Cashflows (MMUS$) 2,660 2,908 3,455

Net Profit (MMUS$)

Net Profit beforenon recurring items

Gain (loss) fromnon recurring items*

Earnings per Share (US$)

1,380 1,468 1,846

1,292 1,659 1,999

88 (191) (153)

0.42 0.44 0.46**

9M 13 9M 12 YoY(%)

5,544 5,081 9

3,944 3,549 11

72 72 0

1,607 1,397 15

1,720 1,505 14

(113) (108) (5)

0.40 0.42 (4)

3,049 2,307 32

** Based on number of shares as of 31 Dec 12 (3,970 million share )

If based on the weighted average number of shares during the year , EPS = 0.55 US$

9 / 18

8/13/2019 131121_pttep

10/37



ontentwidthcut-off

Financial Highlights (2 / 2)Manage capital structure to match with nature of business

Debt Structure*

Weighted AverageCost of Debt* (%)[Fixed : Floating]

3.69[90 : 10]

3.12[84 : 16]

3.99[79 : 21]

3.99[75:25]

Average Loan Life*(Years) 3.54 3.96 7.50 7.09

* Exclude Hybrid bonds

US97%

THB3%

US89%

CAD11%

(Unit : MMUS$) 31 December 2010 31 December 2011 31 December 2012 30 September 2013

Asset 10,694 14,131 19,637 20,828

Liability 5,286 7,820 8,926 9,304

Total Interest Bearing Debt* 2,600 3,873 3,773 4,072

Equity 5,408 6,312 10,711 11,524

Debt to Equity (x) 0.48 0.61 0.35 0.35

Debt to EBITDA (x) 0.81 1.02 0.78 0.78

US87%

CAD13%

US37%THB

63%

10 / 18

8/13/2019 131121_pttep

11/37



ontentwidthcut-off

DividendPTTEPs policy : payout ratio at least 30% of net income

1.482.55 2.61 2.80 3.00

1.20

2.48 2.793.00

40% 40% 40%38%

0%

25%

50%

0.00

5.00

10.00

2009 2010 2011 2012 9M 2013

Dividend Payment History

1H 2H Payout Ratio

37 %

11 / 18

8/13/2019 131121_pttep

12/37

Consistent Top Quartile Return On Equity

PTTEP has consistently been a top performer amongst peers1in terms ofReturn On Equity2

(1) Comparable Peers include CNOOC, Sinopec, Petrochina, Inpex, ONGC, Santos, BG, ENI, Statoil, OMV, Apache, Anadarko, Hess, Murphy, Marathon Oil, Petrobras and Ecopetrol

(2) Calendar Year Return On Equity as defined by CapIQ source: Net Income from Continuing Operations / ((Beginning of the Year Total Equity + End of the Year Total Equity)/2)

(3) LTM = Latest Twelve Months, Q4 2012 - Q3 2013 for companies which have reported Q3 2013 results

PTTEPs ROE

8/13/2019 131121_pttep

13/37

13 / 18

9M 2013 Financial Performance2

Company Overview and Oil Price1

3

Key Takeaway4


8/13/2019 131121_pttep

14/37


Co

ntentwidthcut-offC

ontentwidthcut-off

Key Achievements in Q3 2013

14 / 18

Strong Operations with Robust Financial Management9M 2013 recurring net profit of US$ 1.7 bn with 14% growth YoY

Landmark sail-away and installation of ZPQ1for Zawtika project

Successful exploration and appraisal programs in Myanmar,

Vietnamand Mozambique

Completion of USD 500 million bond issuance

through Consistently Safer Practices

1.24

0.81

0.59

0.39

0.19 0.20

0.0

0.5

1.0

1.5

2008 2009 2010 2011 2012 9M 2013

Lost Time Injury Frequency (LTIF)

Industry Benchmark PTTEPFrom top to bottom : ZPQ sail-away in October 2013 ;

Belford Dolphin (Source : Fred-Olsen Energy) ; PTTEPs safe practices

Remarkable operating results with solid exploration progress achieved

Note : 1) ZPQ = Zawtika Processing and Living Quarter

8/13/2019 131121_pttep

15/37


Co

ntentwidthcut-offC

ontentwidthcut

-off

Footprint for Next 12 Months

15 / 18

Promising growth from Zawtika and Algeria start-ups with intensive exploration programs

Q4 2013 2014ZawtikaCommercial gasdelivery

Algeria 433a & 416bFirst oil

Mozambique Area 1Announce FID

Maintain production plateau for legacy assets (Bongkot, Arthit, S1, MTJDA, Yadana, Yetagun)

KKD Leismer

Development activities tomaintain/increase production

MontaraRamp-up to

30 KBPD

Continue evaluation of discovered prospects (Myanmar, Algeria HBR, Cash/Maple) and study new frontiers

Continue development of long-term growth projects (KKD Leismer Expansion & Corner, Mozambique LNG)

Production

Exploration & Appraisal

Development

Source : Company pictures, Anadarko, Vantage Drilling

Myanmar M11Deepwater drilling andpost-drilling evaluation

Myanmar M3Begin appraisal drilling

Financial ManagementStrong discipline to maintain credit rating

and support future growth

M&AValue-accretive producing assets

SafetyRecord LTIF below industry average

Zawtika & Cash / MapleBegin appraisal drilling

Algeria HBRBegin drilling in 2ndexploration phase

8/13/2019 131121_pttep

16/37

.. 16 / 18

9M 2013 Financial Performance

Company Overview and Oil Price

3

Key Takeaway


8/13/2019 131121_pttep

17/37

..

Key Takeaway

17 / 18

Volume

Volume growth expected at 6%in 2013 despitesetbacks from Montara delay and unplannedincidents

2014 growth at least 10% mainly from Montarafull-year production and Zawtika start-up

Prices

Maintain strong selling prices by end of 2013

Gas prices to improve in 2014 from Zawtikastart-up

Exploration

Maintain high exploration success ratewithcontinued activities in Myanmar

M&A

Opportunities in producing assetsZPQ completed installation in Myanmar offshore, October 2013

8/13/2019 131121_pttep

18/37

8/13/2019 131121_pttep

19/37

8/13/2019 131121_pttep

20/37


Co

ntentwidthcut-offC

ontentwidthcut-off

Supplementary Index

1. PTTEP Projects Overview

2. Corporate Social Responsibility

3. Human Rights

4. Shareholding Structure

5. Corporate Structure

6. Management Team

7. PTT Value Chain

8. Thailands Energy Outlook

9. Ratio Formulas

8/13/2019 131121_pttep

21/37


Co

ntentwidthcut-offC

ontentwidthcut-off

South East Asia: Thailand and VietnamSolid regional position with legacy assets to maintain plateau

Production / Ramp-up Projects

Development / Startups Projects

Exploration / Appraisal Projects

Bongkot

Bongkot South

S1

Vietnam 16-1

S1

Vietnam16-1

Bongkot

Supplementary 1.1 / 9

Arthit

Bongkot (44.4% interest)

Average natural gas production of the overall Bongkot field at approximately

924 MMSCFD in 9M 2013

Average condensate volume of approximately 32,533 BPD in 9M 2013

S1 (100% interest)

Reached the highest production capacity record ever at 37,890 BPD in

February 2013

Average crude production of 33,396 BPD in 9M 2013

Arthit (80% interest)

Average production volume of 235 MMSCFD of natural gas and 9,407 BPD of

condensate in 9M 2013

Development plan in place for nearby field (G8/50) to commence production in

2015 via Arthit's central processing platform

Vietnam 16-1 (28.5% interest)

Average crude production of 45,115 BPD in 9M 2013

Successful drilling of an appraisal well in area H5 in August 2013 with further

development plan to maintain production rate at 40,00045,000 BPD

8/13/2019 131121_pttep

22/37


Co

ntentwidthcut-offC

ontentwidthcut-off

South East Asia: MyanmarOne of the major players with high potential blocks





Progress ofZawtikadevelopment

PSC-Gand EP-2

M3

Yadana

ZawtikaM11

Yetagun

Zawtika (80% interest)

Completed installation of ZPQ1and 3 wellhead platforms, laying of intra-field gaspipelines and main offshore gas export pipeline

In process of drilling development wells, offshore pipelines commissioning andonshore pipelines installation

Commercial gas delivery expected in 1Q 2014 at DCQ 300 MMSCFD

M3 (80% interest) & M11 (45% interest)

Divested 20% interest in M3 to MOECO and 40% and 15% interests in M11 toTotal and JX NOEX, respectively

Appraisal drilling campaign in M3 completed in August 2013, with gas andcondensate discoveries

M11 1stexploration well (deep water) spudded in late September 2013

PSC-G and EP-2 (90% interest)

Conducting exploration activities with 2D seismic acquisition, which are expectedto be completed by 4Q 2013

Drilling of four exploration wells planned in 2014 and 2015

MD-7 and MD-8 (100% interest) Preparation for 2D seismic acquisition

Yadana (25.5% interest)

Average production volume of 767 MMSCFD of natural gas in 9M 2013

Yetagun (19.3% interest)

Sales volume averaged 402 MMSCFD of natural gas and 9,490 BPD ofcondensate in 9M 2013

MD-7 & MD-8

Note : 1) ZPQ = Zawtika Processing and Living Quarter

ZPQ installed atMyanmar Offshore

8/13/2019 131121_pttep

23/37


Co

ntentwidthcut-offC

ontentwidthcut-off

East Africa: MozambiqueEast Africa is positioned for Asia LNG Market


Source: Anadarko

Cost-advantageous LNG development Secured land for LNG park: 17,000+ acres in Cape Afungi

Estimates lower development costs than the competing LNGdevelopments currently under development that are targetingthe Asian market

In December 2012, Eni and Anadarko signed a HOAestablishing principles for the coordinated development ofcommon natural gas reservoirs in the offshore Mozambique

Area 1 (8.5% interest)

Advancing towards 50 MMTPA

Discovered significant resource estimated at 35 to 65 TCF of recoverable naturalgas, with Anadarko estimating total gas in place to approach 100 TCF

Received Reserve certification sufficient for two 5MMTPA trains

Awarded competitive FEED contracts: offshore gathering and onshoreconstruction

Ongoing negotiation to secure commercial LNG agreements

Drilling of 8 exploration and appraisal wells were completed with 5 successfuldiscoveries in 9M 2013

Targeting first production and gas sales by late 2018 or 2019
http://www.2b1stconsulting.com/wp-content/uploads/2013/01/Anadarko_Eni_Mozambique_LNG_Afungi_LNG_Park.png

8/13/2019 131121_pttep

24/37


Co

ntentwidthcut-offC

ontentwidthcu

t-off

AustraliaEnsure smooth Montara production ramp-up and Cash/Maple development





Montara

Cash / Maple

Montara (100% interest)

Developing via an FPSO and wellhead platform located at the field

First production began in June 2013 through the introduction of hydrocarbons tothe Montara Venture FSPO

Current production at approximately 12,000 BPD with first crude off load inAugust 2013

Expects production ramp-up following the completion of an additional productionwell and hook-up of the subsea wells by early 2014

Environmental cleanup, well control and asset damage are insured events, in

connection with the Montara Incident Of the amount recoverable under PTTEP AA's insurance policy, US$212m has

been received to date (as of September 30, 2013)

Cash / Maple (100% interest)

Plan to drill more appraisal wells in early 2014 to confirm resources potential

Currently in the process of considering commercial options for the development ofthe field

Montara Venture FPSO

8/13/2019 131121_pttep

25/37



ontentwidthcu

t-off

North America: Oil Sands KKDLeismer successful ramp-up continues along with vigorous appraisal program


Oil Sands KKD (40% interest)

Expected project life of over 40 years and utilizes an in-situ oil sands projectusing SAGD technology1

First production with full SAGD technology began in January 2011

2012 performance

2012 bitumen production volume for Leismer area16,343 BPD

SOR2maintained at ~2.5 in 2012

2013 and forward plan

9M 2013 average bitumen production of 14,760 BPD

Leismer Area: Development activities to maintain/increase production in 2014

Leismer Expansion:

Final Investment Decision (FID) is expected by 3Q 2014

Plans to increase production capacity to 40,000 BPD by 2017

Corner: FID is expected by 2Q 2014

Production of the Corner plant is expected to start in 2017/18




Notes:1 SAGD method injects steam into the bitumen reservoir to heat the bitumen and separate it from the sand, after whichthe bitumen is pumped to the surface2 Steam to oil ratio

CornerHangingstone

Thornbury

South LeismerLeismer

Expansion

Leismer

Courtesy of Statoil

8/13/2019 131121_pttep

26/37



ontentwidthcu

t-off

PTTEP Projects Information (1 / 4)


* Sales volume stated at 100% basis

Project PTTEPsShare

Partners 9M 2013 Average Sales Volume * 2013 Key Activities

Gas Oil and Other

Production Phase

Thailand

1 Arthit 80% ChevronMOECO

16%4%

225 MMSCFDCondensate: 9.4 k BPD

- Ensure gas deliverability at 220 MMSCFD Drill Appraisal wells to appraise petroleum reserves and resources

2 B6/27 60% JX NOEX 40% N/A N/A Exploration drilling planned for the beginning of December 2013

3 B8/32 & 9A 25% ChevronMOECOKrisEnergyPSTL

51.66%16.71%

4.63%2%

108 MMSCFD Crude: 27 k BPD Drill Development wells

4 Bongkot 44.4445% TOTALBritish Gas

33.3333%22.2222%

891 MMSCFDCondensate: 32 k BPD

- Drill Exploration / Development wells

5 Contract 3(Unocal III)

5% ChevronMOECO

71.25%23.75%

647 MMSCFDCondensate: 19 k BPD

Crude: 27k BPD Drill Development wells

6 Contract 4(Pailin)

45% ChevronHessMOECO

35%15%

5%

380 MMSCFDCondensate: 16k BPD

- Drill development wells and install wellhead platforms

7 E5 20% ExxonMobil 80% 14 MMSCFD -

8 G4/43 21.375% ChevronMOECOPSTL

51%21.25%6.375%

1 MMSCFD Crude: 4.5k BPD Drill development wells and install wellhead platforms

9 G4/48 5% ChevronMOECO

71.25%23.75%

8 MMSCFD Crude: 2k BPD Drill Exploration wells

10 L53/43 &L54/43

100% - Crude: 176 BPD Apply to obtain the right to begin production activities

11 PTTEP 1 100% - Crude: 304 BPD Offset field decline and enhance crude oil recovery

12 S1 100% 26 MMSCFD Crude: 33k BPD Maintain production level above 30,000 BPD Continue Exploration activities

13 Sinphuhorm 20% HessApicoExxonMobil

35%35%10%

98 MMSCFDCondensate: 442 BPD

- Drill Development well

14 MTJDA 50% Petronas-Carigali

50% 314 MMSCFDCondensate: 7.6k BPD

- Drill Development wells

8/13/2019 131121_pttep

27/37



ontentwidthcu

t-off



* Sales volume stated at 100% basis

Project PTTEPsShare

Partners 2013 Key Activities

Development Phase:

Thailand

22 L22/43 100% Production license approved for Wang Phai Sung Area

Overseas

23 Algeria 433a & 416b(Bir Seba)

35% PetroVietnamSonatrach

40%25%

Drill Production wells Continue Engineering, Procurement & Construction (EPC) work

24 Myanmar Zawtika(M9 & a part of M11)

80% Myanma Oil and GasEnterprise (MOGE)

20% Continue development activities First gas expected in December 2013 Daily contractual quantity at 300 MMSCFD (80% to Thailand and 20% to Myanmar)

Project PTTEPsShare

Partners 9M 2013 Average Sales Volume * 2013 Key Activities

Gas Oil and Other

Production Phase

Overseas

15 CanadaOil Sands KKD

40% Statoil 60% - Bitumen:15 k BPD

Maintain production rate Continue development of Leismer Expansion and Corner

projects

16 Oman 44 100% 40 MMSCFDCondensate:

3.4k BPD

- Conduct new 3D seismic acquisition over the western part

17 Vietnam 9-2 25% PetroVietnamSOCO

50%25%

14 MMSCFD Crude: 5.4k BPD Maintain production rate

18 Yadana 25.5% TOTALChevronMOGE

31.24%28.26%

15%

763 MMSCFD -

19 Yetagun 19.3178% Petronas-Carigali

MOGENippon OilPC Myanmar(Hong Kong)

30.00140%

20.4541%19.3178%

10.90878%

389 MMSCFD

Condensate:9k BPD

- Complete FEED for the Yetagun North Project and begin its

development phase

20 Vietnam 16-1 28.5% PetroVietnamSOCOOPECO

41%28.5%

2%

- Crude: 44k BPD Drill 1 appraisal well

21 PTTEP Australasia(PTTEP AA)

20%-100%(varied by

permits)

- Crude: 1.8 k BPD Montara: 1st oil achieved in June; to ramp up production fromsubsea wells and drill additional production well

Test commercial options for the development of theCash/Maple field

PTTEP P j t I f ti (3 / 4)

8/13/2019 131121_pttep

28/37



ontentwidthcu

t-off



Project PTTEPsShare


Exploration Phase

Thailand

25 A4, 5 & 6/48 100% 3D Seismic acquisition and processing

26 G9/43 100% Pending activities and waiting for final boundary resolution (overlapping area ThaiCambodia)

27 L21/48 & L28/48 70% Resourceful Petroleum (Thailand) 30% Drill 1 Exploration well in L28/48 and conduct G&G studies

Overseas

28 Algeria Hassi BirRekaiz

24.5% CNOOCSonatrach

24.5%51%

Prepare for Exploration Phase 2

29 Cambodia B 33.33% Resourceful PetroleumSPC

33.33%33.33%

Completed evaluation work and prepare for relinquishment (pending government approval)

30 Indonesia Semai II 28.33% MurphyINPEXPT Pertamina Hulu Energi Semai

II

28.33%28.33%

15%

Drill 2 Exploration wells

31 Indonesia SouthMandar

34% TalismanTOTAL

33%33%

Continue G&G studies

32 Indonesia Malunda 100% Continue G&G studies

33 Indonesia Sadang 30% TalismanTOTAL

40%30%


34 Indonesia South Sageri 20% TalismanTOTAL

35%45%


35 Myanmar M3 80% MOECO 20% Received approval from Myanmar Government on M3 farm-out to MOECO Drill 4 appraisal wells

36 Myanmar M11 45% TOTALJX NOEX

40%15%

Received approval from Myanmar Government on M11 farm-out to TOTAL & JX NOEX Drill1 exploration well

37 New ZealandGreat South

18% ShellOMVMitsui E&P

50%18%14%

In decision of drilling Exploration well

38 Vietnam B & 48/95 8.5% ChevronMOECOPVEP

42.38%25.62%23.5%

Negotiate a GSA with the Vietnamese government

39 Vietnam 52/97 7% ChevronPVEPMOECO

43.4%30%

19.6%

Negotiate a GSA with the Vietnamese government

PTTEP P j t I f ti (4 / 4)

8/13/2019 131121_pttep

29/37



ontentwidthcu

t-off



Project PTTEPsShare


Exploration Phase

Overseas (contd)

40 MyanmarPSC-G and EP-2

90% WinPreciousResources 10% 2D seismic acquisition

41 Mozambique RovumaOffshore Area 1

8.5% Anadarko, Mitsui,ENH, Bharat Petroleum,Videocon

36.5%,20%15%,10%,10%

Drill Exploration and Appraisal wells Complete FEED / FID for Mozambique LNG Project

42 Mozambique RovumaOnshore

10% Anadarko, Maurel&Prom,ENH, Wentworth Resources

35.7%,27.7%15%,11.6%

Completed 2D seismic acquisition

43 Kenya L10AKenya L10B

25%15%

BG, Premier, Pan Cont.BG, Premier, Pan Cont.

40%,20%,15%45%,25%,15%

Completed 2D/3D seismic surveys

44 Kenya L5, L7, L11,L11B, L12

10% Anadarko, Total 50%,40% Drill Exploration wells

45 Myanmar MD 7 andMD 8

100% Signed PSC in FEB 2013 Preparation 2D Seismic (selecting contractors)

Project PTTEPsShare


Exploration Phase

Overseas

Australia WA-423-P 30% MurphyDiamond Resources

40%30%

Completed the relinquishment of permit in 3Q 2013

PTTEP project relinquished during 2013

Corporate Social Responsibility

8/13/2019 131121_pttep

30/37



ontentwidthcu

t-off

Supplementary 2 / 9

From Natural Treasure to Intellectual Wisdom and Environmental Conservation

Corporate Social Responsibility

Conservation of Natural & Environment ResourcesThe Reforestation Project 200,000 Rais (accumulation from 2013 to 2020)

The Reforestation of Mangrove Project 746 Rais in ChantaburiThai / Natural Heritage & World Heritage projects : 5 Sites

The reforested mangrove project in Bang Khun Thian

Hornbill and Tiger Research Projects

Health & Educational development

Mobile Library Project : for 8 schools in Khon KhaenEducational Promotion / Health and Hygiene Development in Republic of the Union ofMyanmar

PTTEP Tutor Camp in areas of operation

Quality of life Improvement

Natural Gas for Community Farmers and Environment Project, made good use of thegas in a community enterprise at Nong Tum

The PTTEP Ruam Jai Patthana Employee Club ,committed to social improvementactivities

Local Culture Conservation : School mini-farm in Khon Kaen

Human Rights

8/13/2019 131121_pttep

31/37


Con

tentwidthcut-offC

ontentwidthcu

t-off

Supplementary 3 / 9

Well-being of employees, partners and customers above all else

Human Rights

PTTEP

Is responsible for labor rights in any operational area,strictly prohibiting child labor and forced labor

Makes fair employment and fosters safe workenvironment, regardless of local laws on human rights,in which PTTEP operates

Works only with ethical partners, who have no record ofany infringement of human rights

Promotes communication between executives andemployees through employee empowerment

Is ready to provide proper and necessary benefits toenrich employees' quality of living

8/13/2019 131121_pttep

32/37

Corporate Structure

8/13/2019 131121_pttep

33/37


Con

tentwidthcut-offC

ontentwidthcu

t-off

Supplementary 5 / 9

Corporate Structure

Corporate Governance

Committee Nominating Committee

Remuneration Committee

Corporate

Secretary Office

Legal Division

Human Resourcesand Business Services Group

Human Resources Division

Finance and Accounting Group

Accounting Division

Risk Management Committee

Board of Directors

Audit Committee

Bongkot Asset

Arthit Asset

S1 Asset Myanmar Asset

East AfricaAsset

BusinessDevelopment

Division 2

CorporateStrategyDivision

Engineering,Construction and

Maintenance Division

Field DevelopmentPlanning Division

Strategy and BusinessDevelopment Group

Domestic AssetGroup International AssetGroup

Geosciences,

Reservoir Engineering& Exploration Group

Development andEngineering Group

President andChief Executive Officer

Internal Audit

Office of President & CEO

Safety, Security,Health &

EnvironmentDivision

InternationalAsset

Finance and StrategicInformation Technology Division

BusinessDevelopment

Division 3

Australia Asset

Exploration &New Venture

Division

Operations, Supply

Chain, andTechnology Group

Supply ChainManagement Division

Well TechnologyDivision

CorporateSecretary Office Legal Division

Human Resources Division

Accounting Division

BusinessDevelopment

Division 1


EnvironmentDivision Finance and Strategic

Information Technology Division


EnvironmentDivision

CorporateCommunicationand Reputation

Division


Enterprise Risk Management, InternalControl, and Insurance Division


Corporate Knowledge andTechnology Management

Division

Note: Updated as of 1 March 2013

CanadaAsset

Geosciences &Reservoir

EngineeringTechnology

Division

Board of Directors and several committees to ensure transparency and integrity

PTTEP Management Team

8/13/2019 131121_pttep

34/37


Con

tentwidthcut-offC

ontentwidthcu

t-off

Supplementary 6 / 9

PTTEP Management TeamExtensive experience and widely recognized in the petroleum industry

Experience: CFO, PTT PCL; Director, PTT Aromatics and Refining PCL, PTT Chemical PCL, ThaioilPCL, PTT International Co., Ltd., Bangkok Aviation Fuel Service PCL, Bangchak Petroleum PCL;Chairman, PTT ICT Solutions Co., Ltd., Thailand Management Association (current)

Education: M.A. (Petroleum Engineering), University of Houston, USA; M.S. (Chemical Engineering),Rice University, USA; B.Eng. (Chemical Engineering), Chulalongkorn University, Thailand

Tevin VongvanichDirector, President & Chief Executive Officer

Selected AwardsExperienced Management Team

Geosciences, Reservoir Engineering and Exploration Group

Experience: Vice President, Geosciences Division; Vice President, Strategy and Capability DevelopmentDivision

Education: M.S. (Geophysics), Stanford University, USA

Somkiet JanmahaExecutive Vice President

Strategy and Business Development Group

Experience: Vice President, Strategy and Capability Development Division; Vice President, BongkotAsset

Education: M.SE. (Chemical Engineering), University of Michigan, USA

Asdakorn LimpitiExecutive Vice President

Finance and Accounting Group

Experience: Executive Vice President, Corporate Finance of PTT PCL; Vice President, CorporateStrategic Finance; Vice President, Corporate Funding and Financial Management Department

Education: M.Sc. (Business Administration), Thammasat University, Thailand

Penchun JarikasemExecutive Vice President

International Asset Group

Experience: Vice President, International Assets Division; Vice President, Production DevelopmentDivision; Vice President, Geosciences Division

Education: Ph.D. (Petroleum Engineering), University of Tulsa, USA

Somporn VongvuthipornchaiExecutive Vice President

Domestic Asset Group

Experience: Senior Vice President, S1 Asset

Education: M.S. (Mathematics), Mahidol University, Thailand

Pairoj RangponsumritExecutive Vice President

Asias Best CEO (Investor Relations) Award,

Asias Best CSR Award and Best Investor

Relations Company Award

The Corporate Governance Asia Magazine3 April 2013

Best CEO & CFO Awards

Securities Analysts Association of Thailand (SAA)11 February 2013

NACC Integrity Awards

Thai National Anti-Corruption Commission14 August 2013

Best Public Company2013 Industry Awards

Money and Banking Magazine14 June 2013

The Exploration & Production Flagship of PTT GROUP

8/13/2019 131121_pttep

35/37


Con

tentwidthcut-offC

ontentwidthcut-off

The Exploration & Production Flagship of PTT GROUPAn integral part of the PTT Group value chain

Source: PTT Plc. website (http://www3.pttplc.com/en/default.aspx)

Supplementary 7 / 9

Thailands Energy Outlook

8/13/2019 131121_pttep

36/37


Con

tentwidthcut-offC

ontentwidthcut-off

Supplementary 8 / 9

Thailand s Energy OutlookNatural gasenergy for the future

KBOED Energy Consumption

Source : EPPO

0

1,000

2,000

3,000

4,000

5,000

6,000

2009 2010 2011 2012 2013 2014 2015 2016

Contracted

Domestic

Contracted

Import

Gas Demand

Gas MarketMMSCFD @1000 BTU

Gas ConsumptionBy Sector

0

1,000

2,000

3,000

4,000

5,000

6,000

2009 2010 2011 2012 2013 2014 2015 2016

Power

Industry

NGV

MMMSCFD

59%

21%

6%

14%

60%

19%

7%

15%

Source : PTT & EPPO

0

400

800

1,200

1,600

2,000

2,400

2,800

2007 2008 2009 2010 2011 2012 2013 2014 2015 2020

1%

4%

19%

34%

42%

0 %

2 %

17 %

40 %

40 %

Household &Petrochemical

MMSCFD @

1000 BTU

Source : PTT & PTTEP

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

J F M A M J J A S O N D

2013

JanSep 2012 4,784 MMSCFD

JanSep 2013 4,816 MMSCFD

Growth 0.66%

2011

2012

Gas Consumption

Petroleum Product

Coal & Lignite

Natural Gas

HydroNuclear

LNG

Ratio formula

8/13/2019 131121_pttep

37/37


Con

tentwidthcut-offC

ontentwidthcut-off

Supplementary 9 / 9

Ratio FormulaLifting Cost ($/BOE)

(Operating Exp.Transportation CostStock VariationOther expense not related to lifting) / Production

Volume

Cash Cost ($/BOE) (Operating Exp. + SG&A + Royalty & SRB) / Sales VolumeUnit Cost ($/BOE) (Operating Exp. + Exploration Expense + SG&A + Royalty + DD&A) / Sales Volume

F&D Cost ($/BOE) (5Yr Avg. of Acquisition + 5-Yr Avg. of (Expl.+ Dev. Cost )) / 5Yr Avg. of additional reserves

F&D Organic Cost ($/BOE) 5-Yr Avg. of (Expl.+ Dev. Cost )) / 5Yr Avg. of additional reserves excluded 5Yr Avg. of Acquisition

Reserves Replacement Ratio 5-Yr Additional Proved Reserves / 5-Yr Production Volume

Reserves Life Index (Year) Proved Reserves / Production Volume

Success Ratio Number of wells with petroleum discovery / Total number of exploration and appraisal wells

EBITDA(Sales + Revenue from pipeline transportation) - (Operating expenses + Exploration expenses +

Administrative expenses + Petroleum royalties and remuneration + Management's remuneration)

EBITDA Margin EBITDA / Sales Revenue

Return on EquityTrailing-12-month net income / Average shareholders' equity between the beginning and the end of the 12-

month period

Total Interesting Bearing DebtShort-term loans from financial institution + Current portion of long-term debts + Bonds + Long-term loans

from financial institution

Total Debt to Equity Ratio Total interest bearing debt/ Shareholders' equity

Total Debt to EBITDA Ratio Total interest bearing debt / Trailing-12-month EBITDA

Dividend Payout Ratio Dividend Payment / Net Profit

Ratio formula

Documents

131121_pttep