PTTEP_Analyst Meeting 1Q13

Analyst Meeting : Q1 2013

May 8, 2013

Agenda

1. Industry Update

2. Q1 2013 Financial Performance

3. Q1 Achievements, Strategy and Operation Update

4. Q2 2013 Outlook

2 / 21

Oil Prices Price level to remain relatively high for the rest of 2013

3 / 21 Sources : PTTEP, Bloomberg, Reuters’ Poll March 2013

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

-4%

-2%

0%

2%

4%

6%

8%

10%

80

90

100

110

120

130

140% Differential US$ / Barrel

Brent-Dubai (% Differential) Dubai Brent

0%

10%

20%

30%

40%

50%

60%

40

60

80

100

120% Differential US$ / Barrel

WTI-WCS (% Differential) WTI WCS

Brent Forecast

WTI Forecast

Range

$99 – $125

Average

$111

Average

$95

Range

$85 – $108

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

Upside drivers

• Strained output from Middle East /

Africa from geopolitical tension

• U.S. and China economy recovery

Downside drivers

• Eurozone prolonged debt crisis

• Increased production from

non-OPEC suppliers

Circumstances include:

• U.S. light crude supply

• Progress of pipeline projects to

Gulf Coast refineries

• Emergence and technological

breakthrough of hydrocarbon

alternatives

Crude Oil Price Dynamics

Heavy-Light Differential

4 / 21

Top M&A Deals (Buyer / Seller) by Deal Size

Highlighted M&A Deals : Q1 2013 Liquid-rich unconventional plays in U.S. dominates

M&A Deal Value by Geography

Mozambique :

CNPC / Eni $4.2bn

Sources : Wood Mackenzie, IHS Herold

Note : 1 TRR refers to total discovered reserves and resources. Most assets in United States are valued at proved reserves as non-proved reserves are undisclosed.

UK :

Ithaca / Valiant $0.5bn

United States :

Linn / Berry $4.4bn

Denbury / ConocoPhilips $1.1bn

Sinopec / Chesapeake $1.0bn

Rosetta / Comstock $0.8bn

18.61

14.57

9.38

4.83 4.65 2.48

15.30

10.20

5.03

1.86

0

10

20

Ithaca / Valiant Sinopec /Chesapeake

Denbury /ConocoPhilips

Linn / Berry Rosetta /Comstock

CNPC / Eni Europe Canada United States Africa / MiddleEast

US$ / BOE

Implied Value per Total Recoverable Resources (TRR)1

U.S. 67%

MEA 27%

Others :

Europe 3%

Canada 2% RoW 1%

Total Deal Value = US$ 15.9 billion

Comparison by Top Deals Comparison by Region

North America Crude Oil Pipelines Update

Proposed Projects to Alleviate Pressure for Heavy Oil / Oil Sands Players

1

2

1. Enbridge Northern Gateway

2. TransCanada Keystone XL

Hardisty

Cushing

Gulf Coast ↓

Add capacity for export to Asia

Proposal sent to National Energy Board

Online by 2018 if approved

Increase PADD III1 take of

Canadian crude oil

Extension from Cushing to

Gulf Coast

Revised proposed route

submitted in January 2013

Awaiting U.S. Presidential

Permit (expect in 2013)

In-service by 2015

Steele City

Sources : CAPP, Enbridge, TransCanada, Goldman Sachs

Note : 1) Petroleum Administration for Defense Districts (PADD) III refers to Gulf Coast refineries in Alabama, Arkansas, Louisiana, Mississippi, New Mexico, and Texas 5 / 21

Agenda

1. Industry Update



4. Q2 2013 Outlook

6 / 21

Volume Mix

PTTEP Average Product Price and Volume Average selling price slightly increased along with oil price

Sales Price 2011 2012 Q4 12 Q1 13 Q1 12

Gas ($/MMBTU)

Liquid ($/BBL)

Weighted Avg. ($/BOE)

6.00

102.23

55.49

7.59

103.27

64.86

8.03

101.81

66.38

7.96

103.74

67.03

7.18

109.20

64.79

Avg. Dubai ($/BBL)

Avg. HSFO ($/BBL)

105.52

99.81

109.03

103.26

107.49

96.33

108.24

98.72

115.87

113.01

265,047

Gas

66% Liquid

34%

Revenue Mix

Gas

47%

Liquid

53%

Q1 2013

(High Sulphur Fuel Oil)

186,982 183,314 193,869 190,842 169,933

78,065 92,609 100,364 100,634

83,478

0

100,000

200,000

300,000

Sales Volume Liquid

GasBOED

294,233 275,923

291,476

253,411

7 / 21

Operating Performance

Effective Cost Management

DD&A

Royalties

G&A

Exploration Exp.

Operating Exp. **

11.55

6.67

2.67

2.24

5.73

(US$/BOE) 2011 2012 Q4 12 Q1 13

Lifting Cost 4.35 4.28 4.86 4.47 3.86

5 Year Average F&D Cost

19.70 28.97 N/A N/A N/A

- Organic F&D

15.82

21.17

N/A

N/A

N/A

Success

Ratio*

11:25

43:54

13:17 4 : 9

6 : 8

0

10

20

30

40

Cash Cost Unit Cost

13.13

2011

$/BOE

Q1 13 Q1 12

28.86

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

14.05

7.81

2.69

1.82

5.52

Q4 12

14.2

Q1 12

13.61

7.80

3.09

2.11

5.61

2012

31.89

13.26

7.91

4.06

2.51

6.39

* 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

32.22 34.13

14.47 14.90

14.87

8.04

2.44

1.41

5.56

32.32

14.69

8 / 21

Financial Highlights Maintain strong EBITDA margin at ~ 70%

* Includes gain/loss on FX, deferred tax from US$ Functional currency, and others

** Based on number of shares as of 31 Dec 12 (3,970 million shares), If based on weighted average number of shares during the year, EPS =0.55

Q4 12 Q1 13 Q1 12 QoQ(%) YoY(%)

1,954 1,907 1,627 (2) 18

1,268 1,337 1,125 5 19

67 73 72 9 1

2011 2012 YoY(%)

Total Revenue(MMUS$)

5,685 7,021 24

EBITDA (MMUS$) 3,814 4,816 26

EBITDA Margin (%) 69 70 1

Operating Cashflows

(MMUS$) 2,908 3,455 19 1,149 1,601 1,133 39 41

Net Profit (MMUS$) 1,468 1,846 26

Net Profit before

non recurring items 1,659 1,999 20

Gain (loss) from

non recurring items* (191) (153) 20

Earnings per Share

(US$) 0.44 0.46** 25

449 680 589 51 15

494 585 538 18 9

(45) 95 51 >100 86

0.13 0.17 0.18 31 (4)

9 / 21

Financial Highlights

Manage capital structure to match with nature of business

Debt Structure*

Weighted Average Cost of Debt* (%)

[Fixed : Floating]

3.12

[84 : 16]

3.99

[79 : 21]

4.07

[79 : 21]

Average Loan Life* (Years) 3.96 7.50 7.55

* Exclude Hybrid bonds

US$

87%

CAD

13%

US$

97%

THB

3%

US$

83%

THB

5%

CAD

12%

(Unit : MMUS$) 31 December 2011 31 December 2012 31 March 2013

Asset 14,131 19,637 20,889

Liability 7,820 8,926 9,920

Total Interest Bearing Debt* 3,873 3,773 3,793

Equity 6,312 10,711 10,969

Debt to Equity (x) 0.61 0.35 0.35

Debt to EBITDA (x) 1.02 0.78 0.75

10 / 21

Agenda

1. Industry Update



4. Q2 2013 Outlook

11 / 21

S1 reached highest production at avg. 34 KBPD in

Q1 with record high at 37.8 KBPD in February

Discovery in Rovuma Area 1 – Orca-1 well encountered

approximately 190 net feet of natural gas pay

M3 divest 20% interest to MOECO / M11 divest 40% to

Total &15% interest to JX NOEX - Portfolio management

to add value to the project & manage risk

Arthit nearby field (G8/50) appraised for potential to

sustain production in Arthit in longer term

Cash/Maple – progressing with reserves certification

Key Achievements in Q1 2013

Loans: Maturity extension of USD Loans 575MM

from 2015 to 2017 – lesser debt concentration

Credit Rating : Moody's/S&P's have revised

PTTEP's rating outlook from negative to stable

Successful Capital Management

Solid Operational Performance

Successful Financial Performance

Recurring net profit 585 MM$ 18% increased QoQ

EBITDA margin maintains at Level of ~ 70%

Best Safety Performance : LTIF= 0

1.24

0.81

0.59

0.39

0.19

0.00 0.00

0.50

1.00

1.50

2008 2009 2010 2011 2012 Q1 2013

Lost Time Injury Frequency (LTIF)

Industry Benchmark

No. of incident per

million man-hours

12 / 21

Production Volume (KBOE/D)

2020 2012

International

M&A

900

Domestic

314

600

Growth Strategy

Existing Assets are expected to contribute up to 600 KBOE/D in 2020

Future Reserves Contributors

Current Value Contributors*

MTJDA

Gas 918 MMCFD

(DCQ)

Condensate 33 KBPD

Near-Future Value Contributors

Bongkot Arthit

Gas 241 MMCFD

(DCQ)

Condensate 10 KBPD

S1

Gas 253 MMCFD

(DCQ)

Condensate 6 KBPD

Reached crude

production at

34 KBPD

1st oil in Q2 2013

Montara Zawtika Algeria 433a

416b

1st gas early 2014

At 300 MMCFD

(DCQ)

1st oil 2H 2014

At 20 KBPD

Cove KKD

Leismer Expansion

+20KBPD, Corner

+40KBPD by 2016

First LNG : 2 Trains

(of 5 MMTPA each)

in 2019

Appraise M3,

Explore M11 &

Onshore blocks

Complete 1st

exploration program

Myanmar

Algeria HBR

Yadana

Yetagun

Supply Gas

>1,000 MMSCFD

Australia Mozambique Kenya

Explore for

potential in several

permits

Explore the frontier

area

Continue to look for

additional reserves

13 / 21

*As of 31 March, 2013

https://partners4.statoil.com/sites/7d95497d-0f73-4d35-a8de-1b5b0a5cbb37/Picture library/_6FP6711.jpg

Myanmar Zawtika

Production Growth from Southeast Asia Stronghold

3 WHPs construction, intra-field sealines

installation completed

Offshore export pipeline constructed and tied-in

Continue drilling of development wells

On target for first gas end of 2013 with commercial

delivery in Q1 2014

Production capacity @ 300 MMSCFD

(240 MMSCFD to Thailand and 60 MMSCFD

to Myanmar)

Myanmar

PROJECT MAP KEY UPDATES

STRATEGIC CONTRIBUTION FORWARD CHECKPOINTS

Q1 Q2 Q3 Q4 2014

WHPs Construction

Offshore Pipeline

Onshore Pipeline

Development Wells

First Gas

= Completed

Zawtika (M9)

Yadana

Yetagun

M3

M11

A N D A M A N

S E A

2013 2014 2015 2016 2017 2018 2019 2020 2013 2020

300

600

Production Volume (KBOED)

Gas Liquid

Kanbauk

Gas Field Pipeline

14 / 21

PTTEP Australasia (PTTEP AA)

Gearing up for Montara First Oil and Cash/Maple Reserves Prospect

Montara

Expected first production by Q2 2013

An additional well to be drilled by Q3 2013

Insurance claim received to date

US$ 212 million of total US$ 248 million

Cash/Maple

Expected reserves certification within 2013

Ongoing Exploration : Maple-3 drilling ~ Q1 2014

Support PTT FLNG on hydrocarbon development

Australia

Montara

Cash/Maple

T I M O R

S E A



Q1 Q2 Q3 Q4 2014

Montara :

First Oil

+1 Well Drilling

Cash/Maple :

Reserves Cert.

Maple-3 Drilling

= Completed

Gas Field

Oil Field

2013 2014 2015 2016 2017 2018 2019 2020 2013 2020

300

600


Gas Liquid

15 / 21

Canada KKD Oil Sands

Unlocking the Potential of Unconventional Oil in North America

Leismer / Leismer Expansion :

Q1 2013 Production ~ 14.6K BPD

Winter Evaluation Program (WEP) completed

Steam-to-Oil Ratio (SOR) maintained at ~ 2.5

Pad 5 well pair drilling in progress

20K BPD production capacity target by Q4 2013

Expansion: FEED approval by Q2 2013

Corner:

Front End Engineering Design (FEED) commenced

Canada



Q1 Q2 Q3 Q4 2014

Leismer :

2012-13 WEP

Expansion: FEED

Pad 5 First Steam

Corner :

FEED

= Completed

Kai Kos Dehseh (KKD)

Corner

Leismer

Oil Field (Oil Sands)

2013 2014 2015 2016 2017 2018 2019 2020 2013 2020

300

600


Gas Liquid

16 / 21

Mozambique Rovuma Offshore Area 1

Securing Commercial Agreement a Critical First Step of Success

Discovered resources to-date ~ 35 – 65 TCF

Encouraging exploration progress

Natural gas discovery in Orca-1

Reserves certification expected by Q4 2013

Ongoing negotiation with potential LNG purchasers

Joint development with Area 4

Onshore liquefaction facilities

Unitization of Prosperidade shared area



Q1 Q2 Q3 Q4 2014

Reserves Certification

Commercial

Agreement

Approval of Final

Development Plan

FID

= Completed

Mozambique

Rovuma Offshore

Area 1

Prosperidade

Golfinho / Atum

Gas Field

Orca

2013 2014 2015 2016 2017 2018 2019 2020 2013 2020

300

600


Gas Liquid

17 / 21

มปีระสทิธภิาพ โปร่งใส กา้วไกล มัน่คง ปตท.สผ. รณรงคส์ง่เสรมิ “บรรษทัภบิาล”

Q2 – Q4 2013 Key Exploration and Appraisal Activities

Identify and prove up the petroleum potential

Thailand

Bongkot

• 2 Exploration + 8 Appraisal wells

Contract 4

• 4 Exploration +1 Appraisal wells

S1

• ~20 wells (Exploration + Appraisal)

Myanmar

M3 &M11

• M3 : 4 Appraisal wells

(2 wells completed in Q2)

• M11 : 1 exploration well (Q4)

Zawtika

• 2 Appraisal wells (Q4)

M3

Zawtika

Contract 4

Bongkot

S1

M11

18 / 21

มปีระสทิธภิาพ โปร่งใส กา้วไกล มัน่คง ปตท.สผ. รณรงคส์ง่เสรมิ “บรรษทัภบิาล”

Q2 – Q4 2013 Key Exploration and Appraisal Activities

Identify and prove up the petroleum potential

Mozambique Offshore Area 1

• Exploration wells drilled – Black Pearl, Barracuda-1,

Tubarao‐2 : non-commercial

Orca‐1 : discovery, Linguado‐1 (drilling on progress)

• Upcoming 3 wells (1E + 2A) in Atum & Golfinho

Complex

Kenya Offshore

• L7 : 1 Exploration well drilled – Kubwa-1

(non-commercial, oil shows)

• L11B : 1 Exploration well – Kiboko-1

(drilling on progress)

Mozambique

Kenya

19 / 21

Agenda

1. Industry Update



4. Q2 2013 Outlook

20 / 21

Q2 2013 Outlook

Price

• No major gas price movement from adjustments in Bongkot, Yadana, and Yetagun

projects

• Oil price remains volatile amidst on-going economic and political concerns

Operation

• Montara to progress with close project management to ensure production start-up by Q2 2013

• S1 to sustain high production level to offset volume shortfall from Yadana/Yetagun

planned shut down in April

Exploration

• M3 Appraisal drilling campaign : 3rd of 4 wells to be drilled in Q2

• Continue Kenya L11B drilling of an exploration well (Kiboko-1)

M&A and Funding

• Focus on smaller size, near-term producing or producing assets

• Maintain strong financial position and operation cash-flow

21 / 21

Disclaimer

Contact us at email address : [email protected]

Forward-looking Information

The information, statements, forecasts and projections contained herein reflect the Company’s current views with respect to future events and financial

performance. These views are based on assumptions subject to various risks. No assurance is given that these future events will occur, or that the Company’s

assumptions are correct. Actual results may differ materially from those projected.

Petroleum Reserves and Resources Information

In this presentation, the Company discloses petroleum reserves and resources that are not included in the Securities Exchange and Commission of Thailand

(SEC) Annual Registration Statement Form 56-1 under “Supplemental Information on Petroleum Exploration and Production Activities”. The reserves and

resources data contained in this presentation reflects the Company’s best estimates of its reserves and resources. While the Company periodically obtains an

independent audit of a portion of its proved reserves, no independent qualified reserves evaluator or auditor was involved in the preparation of reserves and

resources data disclosed in this presentation. Unless stated otherwise, reserves and resources are stated at the Company’s gross basis.

This presentation may contain the terms “proved reserves”, “probable reserves”, and/or “contingent resources”. Unless stated otherwise, the Company adopts

similar description as defined by the Society of Petroleum Engineers.

Proved Reserves - Proved reserves are defined as those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with

reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under current economic conditions, operating

methods, and government regulations.

Probable Reserves - Probable reserves are defined as those unproved reserves which analysis of geological and engineering data suggests are more likely

than not to be recoverable.

Contingent Resources - Contingent resources are defined as those quantities of petroleum which are estimated, on a given date, to be potentially recoverable

from known accumulations, but which are not currently considered to be commercially recoverable. The reasons for non commerciality could be economic

including market availability, political, environmental, or technological.

1. Total Shareholders’ Return

2. Thailand Energy Outlook

3. PTTEP Project Information

4. Corporate Social Responsibility

5. Organization Structure

6. Ratio formula

Supplementary Index

PTTEP has outperformed SET TRI, S&P 500 (TR) and O&G benchmarks at 20% compounded annual growth

Total Shareholders’ Return, 1993-2013

Source: Bloomberg, Datastream

(1) PTTEP closing price on 30 June 1993: 5.07 Baht. Closing price as of 3 May 2013: 153.00 Baht

(2) SET Total Return Index (“SET TRI”) measures market performance, including price movements (capital gain/loss), rights

offered to current shareholders allowing them to purchase additional shares, usually at a discount to market price (rights

offering), and income from dividend payments (dividends) assuming they are reinvested in securities. Base Date: 31 January

2002; CAGR calculated from 31 January 2002 to 6 May 2013

(3) O&G benchmarks represent the entire industry and cover over 300 different O&G companies worldwide ,including Chevron,

Exxon, BP,and Shell.

0

5

10

15

20

25

30

35

40

45

50

ม.ิย.-93 ม.ิย.-95 ม.ิย.-97 ม.ิย.-99 มิ.ย.-01 มิ.ย.-03 พ.ค.-05 พ.ค.-07 พ.ค.-09 พ.ค.-11 พ.ค.-13

CAGR

PTTEP1

Stock Prices and Indices (TSR) – 1993 to 2013

x%

20.2%

Times

8.5% Oil & Gas

Benchmark3

S&P 500 (TR) 8.7%

SET TRI2 19.5%

Supplementary 1/8

Source : PTT & PTTEP

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 Market MMSCFD @

1000 BTU

Gas Consumption

By 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

Jan - Mar 2012 4,566

Jan - Mar 2013 4,787

Growth 4.8%

2011

2012

Gas Consumption

Thailand Energy Outlook

Natural Gas – Energy for the future

Petroleum Product

Coal & Lignite

Natural Gas

Hydro

Nuclear

Supplementary 2/8

PTTEP Projects Information

Project

PTTEP’s

Share

Partners Q1 2013 Average Sales Volume * 2013 Key Activities

Gas Oil and Other

Production Phase

Thailand

1 Arthit 80% Chevron

MOECO

16%

4%

241 MMSCFD

Condensate: 10k BPD

- Ensure gas deliverability at 220 MMSCFD

Drill Appraisal wells to appraise petroleum reserves and resources

2 B6/27 60% JX Nippon 40% N/A N/A Conduct Appraisal activities

3 B8/32 & 9A 25% Chevron

MOECO

KrisEnergy

PSTL

51.66%

16.71%

4.63%

2%

123 MMSCFD

Crude: 32k BPD

Maximize oil production and sustain gas deliverability

Drill Exploration well

4 Bongkot 44.4445

%

TOTAL

British Gas

33.3333%

22.2222%

918 MMSCFD

Condensate: 32k BPD

- Maintain production plateau as per GSA commitment

Drill Exploration/Appraisal wells to appraise petroleum reserves and resources

5 Contract 3

(Unocal III)

5% Chevron

MOECO

71.25%

23.75%

607 MMSCFD

Condensate: 16k BPD

Crude: 26k BPD Optimize oil production and maintain gas deliverability

Drill development wells and install wellhead platforms

6 Contract 4

(Pailin)

45% Chevron

Hess

MOECO

35%

15%

5%

389 MMSCFD

Condensate: 15k BPD

- Maintain production plateau as per GSA commitment

Drill development wells and install wellhead platforms

7 E5 20% ExxonMobil 80% 15 MMSCFD - Maximize gas deliverability

8 G4/43 21.375% Chevron

MOECO

PSTL

51%

21.25%

6.375%

1 MMSCFD Crude: 5k BPD

Maintain production rate

Drill Exploration wells to appraise petroleum reserves and resources

9 G4/48 5% Chevron

MOECO

71.25%

23.75%

7 MMSCFD

Crude: 3k BPD

Maximize oil production

10 PTTEP 1 100% - Crude: 0.3k BPD Maintain and maximize production rate

11 S1 100% 25 MMSCFD Crude: 33k BPD

Maintain production level above 30,000 BPD

Continue Exploration activities

12 Sinphuhorm 20% Hess

Apico

ExxonMobil

35%

35%

10%

116 MMSCFD Condensate: 0.5k BPD

- Conduct 3D Seismic Interpretation

Maintain production plateau

13 MTJDA 50% Petronas-

Carigali

50% 253 MMSCFD

Condensate: 6k BPD

-

Maintain production plateau as per GSA commitment

Continue exploration activities

Overseas

14 Oil Sands KKD 40% Statoil 60% - Bitumen: 14k BPD

Increase Leismer production up to production capacity and optimize well and facilities performance

Continue development of Leismer Expansion and Corner Project

Conduct Winter Evaluation Program (WEP) e.g. Appraisal/Delineation wells, including 3D seismic

15 Oman 44 100% 43 MMSCFD

Crude: 2k BPD

Maintain Gas and Condensate production

Continue exploration and appraisal activities

16 Vietnam 9-2 25% PetroVietnam

SOCO 50%

25%

16 MMSCFD Crude: 4k BPD Maintain production rate

17 Yadana 25.5% TOTAL

Chevron

MOGE

31.24%

28.26%

15%

766 MMSCFD - Maintain production plateau as per GSA commitment

18 Yetagun 19.3178

%

Petronas-

Carigali

MOGE

Nippon Oil

PC Myanmar

(Hong Kong)

30.00140

%

20.4541%

19.3178%

10.90878

%

389 MMSCFD

Condensate: 8k BPD

-

Maintain production plateau as per GSA commitment

19 Vietnam 16-1 28.5% PetroVietnam

SOCO

OPECO

41%

28.5%

2%

- Crude: 50k BPD

Maintain production rate

* Sales volume stated at 100% basis

Supplementary 3/8


Project PTTEP’s

Share

Partners 2013 Key Activities

Development Phase :

Overseas

20 Algeria 433a & 416b (Bir

Seba)

35% PetroVietnam

Sonatrach

40%

25%

Bir Seba & MOM Oil Field Development

Finalize bidding Engineering Procurement & Construction (EPC) and drill development wells

Expect production to reach 20,000 BPD in 2014

21 Myanmar Zawtika

(M9 & a part of M11)

80% Myanma Oil and Gas Enterprise

(MOGE)

20% Continue development activities

Complete 3D Seismic in Zawtika East (continued from 2011)

First gas expected at end of 2013

Daily contractual quantity at 300 MMSCFD (80% to Thailand and 20% to Myanmar)

22 PTTEP Australasia

(PTTEP AA)

20%-

100%

(varied by

permits)

Montara : first production in 1Q 2013 with the maximum capacity of 35,000 BPD

Drill additional well in Cash/Maple field to appraise petroleum resources

FLNG – finalize Pre-FEED Study and proceed with FEED

23 L53/43 & L54/43

100% Drill 4 Exploration wells /additional 3D Seismic acquisition

Supplementary 4/8


Project PTTEP’s

Share

Partners 2013 Key Activities

Exploration Phase

Thailand

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

25 G9/43 100% Pending activities and waiting for final boundary resolution (overlapping area Thai – Cambodia)

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

27 L22/43 100% Drill 2 Exploration wells and 2 Appraisal wells

Drill 4 Exploration wells /additional 3D Seismic acquisition

Overseas

28 Algeria Hassi Bir Rekaiz 24.5% CNOOC

Sonatrach

24.5%

51%

Complete Exploration Phase 1

Prepare for Exploration Phase 2

29 Australia WA-423-P 30% Murphy

Diamond Resources

40%

30%

Drill 1 Exploration well

30 Cambodia B 33.33% Resourceful Petroleum

SPC

33.33%

33.33%

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

31 Indonesia Semai II 28.33% Murphy

INPEX

PT Pertamina Hulu Energi Semai II

28.33%

28.33%

15%

Drill 2 Exploration wells

Conduct G&G studies

32 Indonesia South Mandar 34% Talisman

TOTAL

33%

33%

Continue G&G studies

33 Indonesia Malunda 100% Continue G&G studies and 2D seismic processing for new oil play potential

34 Indonesia Sadang 30% Talisman

TOTAL

40%

30%

Continue 3D seismic data interpretation and G&G studies from 2012

PSC decision whether to continue or close out project

35 Indonesia South Sageri 20% Talisman

TOTAL

35%

45%

Continue 3D seismic data interpretation and G&G studies from 2012

PSC decision whether to continue or close out project

36 Myanmar M3

Myanmar M11

80% (1)

45%

MOECO

TOTAL, JX NOEX

20%

40%, 15%

Drill 4 appraisal wells (M3) / 1 Exploration well (M11)

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

37 New Zealand

Great South

18% Shell

OMV

Mitsui E&P

50%

18%

14%

Continue 3D seismic acquisition and G&G studies from 2012

38 Vietnam B & 48/95 8.5% Chevron

MOECO

PVEP

42.38%

25.62%

23.5%

Finalize commercial agreements and achieve FID

39 Vietnam 52/97 7% Chevron

PVEP

MOECO

43.4%

30%

19.6%

Finalize commercial agreements and achieve FID

40 PSC-G and EP-2 90% WinPreciousResources 10% 2D seismic acquisition

Evaluate prospects and prepare for drilling campaign

41 Mozambique Rovuma

Offshore 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 Rovuma

Onshore

10% Anadarko, Maurel&Prom,

ENH, Wentworth Resources

35.7%,27.7%

15%,11.6%

Drill Exploration wells

43 Kenya L10A

Kenya L10B

25%

15%

BG, Premier, Pan Cont.

BG, Premier, Pan Cont.

40%,20%,15%

45%,25%,15%


44 Kenya L5, L7, L11, L11B,

L12

10% Anadarko, Total 50%,40% Conduct 3D seismic acquisition


Note: (1) Subject to an official approval from the government of Republic of the Union of Myanmar

Supplementary 5/8

From Natural Treasure to Intellectual Wisdom and Environmental Conservation

Corporate Social Responsibility

•The Reforestation of Mangrove

Project 746 rai in Chantaburi

•Thai / Natural Heritage & World

Heritage projects : 5 Sites

•The reforested mangrove project

in Bang Khun Thian

•Hornbill and Tiger Research

Projects

Conservation of Natural &

Environment Resources

•Mobile Library Project : for 8

schools in Khon Khaen

•Educational Promotion / Health

and Hygiene Development in

Republic of the Union of

Myanmar

•PTTEP Tutor Camp in areas of

operation

Health & Educational

development

• Natural Gas for Community

Farmers and Environment

Project, made good use of the

gas in a community enterprise at

Nong Tum

•The PTTEP Ruam Jai Patthana

Employee Club ,committed to

social improvement activities

• Local Culture Conservation :

School mini-farm in Khon Kaen

Quality of life Improvement

Supplementary 6/8

Organization Structure

Board of Directors and Several Committees to Ensure Transparency and Integrity

Supplementary 7/8

Corporate Governance

Committee Nominating Committee

Remuneration Committee

Corporate Secretary Office

Legal Division

Human Resources and 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 Africa

Asset

Business Development

Division 2

Corporate Strategy Division

Engineering,

Construction and

Maintenance Division

Field Development

Planning Division

Strategy and Business Development Group

Domestic Asset

Group

International Asset

Group

Geosciences,

Reservoir Engineering

& Exploration Group

Development and

Engineering Group

President and

Chief Executive Officer Internal Audit

Office of President & CEO

Safety, Security, Health &

Environment Division

International

Asset

Finance and Strategic Information Technology Division


Division 3

Australia Asset

Exploration &

New Venture

Division

Operations, Supply

Chain, and

Technology Group

Supply Chain

Management Division

Well Technology

Division

Corporate Secretary Office

Legal Division

Human Resources Division

Accounting Division


Division 1






Corporate Communication and Reputation

Division


Enterprise Risk Management, Internal Control, and Insurance Division


Corporate Knowledge and Technology Management

Division

Note: Updated as of 1 March 2013

Canada Asset

Geosciences &

Reservoir

Engineering

Technology

Division

Ratio formula

Supplementary 8/8

Ratio Formula

Lifting Cost ($/BOE) (Operating Exp. – Transportation Cost – Stock Variation – Other expense not related to lifting) / Production

Volume

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

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

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

F&D Organic Cost ($/BOE) 5-Yr Avg. of (Expl.+ Dev. Cost )) / 5 – Yr Avg. of additional reserves excluded 5 –Yr 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 Equity Trailing-12-month net income / Average shareholders' equity between the beginning and the end of the 12-

month period

Total Interesting Bearing Debt Short-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

Documents

PTTEP_Analyst Meeting 1Q13