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Corporate Presentation
The material that follows is a presentation of general background information about MPX Energia S.A. and its subsidiaries (collectively, “MPX” or the “Company”) as of the date of the presentation. It is information in summary form and does not purport to be complete. No representation or warranty, express or implied, is made concerning, and no reliance should be placed on, the accuracy, fairness, or completeness of this information.
This presentation may contain certain forward-looking statements and information relating to MPX that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “may”, “plan”, “believe”, “anticipate”, “expect”, “envisages”, “will likely result”, or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. In no event, neither the Company, any of its affiliates, directors, officers, agents or employees nor any of the placement agents shall be liable before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages.
This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities.
Neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever.
Recipients of this presentation are not to construe the contents of this summary as legal, tax or investment advice and recipients should consult their own advisors in this regard.
The market and competitive position data, including market forecasts, used throughout this presentation were obtained from internal surveys, market research, publicly available information and industry publications. Although we have no reason to believe that any of this information or these reports are inaccurate in any material respect, we have not independently verified the competitive position, market share, market size, market growth or other data provided by third parties or by industry or other publications. MPX, the placement agents and the underwriters do not make any representation as to the accuracy of such information.
This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without MPX’s prior written consent.
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Disclaimer
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Power Generation
– 3 GW with power agreements secured
– Environmental license for >14 GW
Natural Resources
– Natural Gas: >11 Tcf of risked
resources in the Parnaiba Basin
– Coal: 35 Mtpa production target in a
strategic location in Colombia
MPX: a diversified energy company with the largest portfolio of integrated projects in South America
MPX Highlights
Predictable and steady cash flow from power generation plants starting in 2012
Successful closing of R$ 1.4 billion Convertible Debenture Issue, covering equity needs for the near future
Unique onshore natural gas portfolio with risked resources of over 11 Tcf, integrated to 3.7 GW licensed power generation complex
World-class coal assets in Colombia in a strategic location (150 km railway to the coast) and potential production of 35 million tons per year
Largest power project in Chile (2.1 GW), integrated to a deep water dedicated port
Largest licensed power generation portfolio in South America – 14 GW between gas and coal fired power plants
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Steady and predictable cash flows from fully contracted power generation plants
Figures adjusted considering MPX’s stake in each project
Notes: 1. Energia Pecém is a 50/50 partnership between MPX and EDP; 2. Parnaíba TPP is a 70/30 partnership between MPX and Petra; 3. Capacity Payments are escalated
annually by the IPCA inflation index (Figures as May, 2011).
CAGR: 73%
Minimum Guaranteed Gross Revenues3
Installed Capacity
R$ 544 MM
R$ 1,526 MMCAGR: 4
3%
720 MW
1,561 MW
2,145 MW
Energia Pecém1
MPX Itaqui
MPX Pecém II
MPX Parnaíba2 (Bertin + Free Market )MPX Parnaíba2 (A-3 Auction)
R$ 1,585 MM
R$ 1,101 MM
MPX (70%) + Petra (30%)
– Complete integration of natural gas E&P to power generation
– Total licensed capacity of 3,722 MW.
– Power plants strategically located - easy access to gas supply and inexpensive connection to the grid
Parnaíba Thermoelectric Power Complex
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With the acquisition of the Bertin projects, MPXwill kick off the Parnaiba Thermoelectric Complex
– Starting with 4 turbines in open cycle (Bertin: 676 MW) migrating into a combined cycle, increasing total capacity, with the same gas consumption, adding 338 MW installed capacity
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And in 2014, will reach a total capacity of 1,5 GW
500 MW capacity contracted in the 2011 Y-3 Energy Auction and 230 average
MW sold in the Free Market
Capacity
(MW)Energy sold (avg MW)
Annual Capacity Payment 3 Start up
MPX Parnaíba (Bertin) 1 676 450 R$ 392.9 million 2013
MPX Parnaíba
(Free Market) 1,2338 230 R$ 285.0 million 2013
MPX Parnaíba
(Y-3 Auction) 1500 450 R$ 327.8 million 2014
Total 1,514 1,130 R$ 1.0 billion
1. Parnaíba TPP is a 70/30 partnership between MPX and Petra; 2.In 2013 starts 30 average MW in the Free Market and the remain portion in 2014.; 3. Capacity Payments are escalated annually by the IPCA inflation index (Figures as May, 2011).
Integrated gas supply = monetization of MPX’s 23% stake in the E&P
business in the Parnaíba Basin
MPX will also have an additional cash flows from gas E&P business, integrated to the power generation complex
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Declaration of commerciality of two fields (Gavião Real
& Gavião Azul) already submitted to ANP
Initial production expected in 2H12
Low capital and operating costs
— Total Capex of US$ 450 M for production of 5.7 M
m³per day in 2013
— Low operating field life cost of less than US$
0.30/1,000ft3 on average
10 wells drilled to date with 75% success rate
Second seismic crew contracted to work on the
southern blocks
Recently approved leasing agreement of 2 additional
rigs
Paranaíba Complex
Project 1 1st gas: 2H1223 production
wells
Gavião Real
Gavião Azul
Unique and privileged
geology: Large and
continuous coal package
Potential mineable tons to
support a 35 Mtpa production
Fully-integrated logistics with
more competitive costs
– Heavy-haul 150km railway: flat route, parallel to existing road
– Dedicated port: 20-meter
draft 3km from the coast
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PROJECTSITE
PORTSITE
PROPOSED150KM RAIL
In Colombia, MPX is also developing a world-class coal company (CCX)
Página . 10
With an extensive Drilling Campaign Ongoing to evaluate underground potential resources
10
2KM
47m
40m
45m
15m
13m
0mshallow hole (341)
30m
78m
0(gas)993m drilled
13m11m
0mshallow hole (681)
4mshallow hole (573m)
MPX CanaveralesNature Reserve
45m
50m
12m+ ongoing
5m
CanaveralesMine
7mshallow hole (620m)
21mshallow hole (467m)
2011 POSITIVE
2009 POSITIVE
2009 NEGATIVE
2011 PLANNED
2D-SEISMIC (2009)
September
October
November
December
5 large capacity drill rigs
on site
12,000m drilled to-date
Currently, 13 coal seams
identified for longwall
production with seam
thickness of ≥ 1.5m
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In parallel, MPX is carrying out a large, high-resolution 3D Seismic program
Seis
mic
Reg
istr
y
com
plet
ed
Registry underway
Zipper 1Zipper 2+3
Cañaveralesmine
Extensive seismic program
to optimize drilling
operation utilizing state-
of-the-art technology
1,200km of seismic lines
covering an area of 10 x
10km
Data acquired in 47% of
the area – interpretation in
process
Early indications confirm
overall flat-lying structure
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MPX is also planning 2D seismic in additional areas to guide expansion plans
2D SEISMIC Total: 390.78 Km
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Up to 5.8 MMtpa of
coal
Up to 6.5 MMtpa of coal
–Energia Pecém: 1.3 Mmtpa
–Itaqui: 0.7 MMtpa
–Pecém II: 0.7 MMtpa
–Açu: 3.8 MMtpa
Assuming an average dispatch rate of 65% for Energia Pecém, Pecém II e Itaqui; 70% for Açu plant and 100% for Castilla plant.
MPX will supply its own power plants in Brazil and Chile and will be an important player in the growing seaborne market
–Integrated Project: Power Plant + Deep-Water Port + Desalination Plant
–SIC: Central Interconnected System (90% of GDP & 92% of population)
–Port concession and environmental license granted
–Power plant capacity: 6 x 350 MW = 2,100 MW
–Desalination plant capacity: 740 l/s
–Synergy with CCX: Reliability of coal supply
MPX Castilla: license for 2,100 MW MPX Castilla: license for 2,100 MW
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MPX Castilla is the largest licensed greenfield power plant in Chile
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Potential demand from miners surpasses 1,500 MW
Mining Project MW RegionStart-
upOre Developer
Casale 266 Atacama 2015 Au -
Relincho 230 Atacama 2017 Cu -
Xstrata el Morro 170 Atacama 2015 Cu -
Caserones 150 Atacama 2013 Cu Endesa
Pascua Lama 115 Atacama 2013 Au Guacolda
MMX 100 Atacama 2014 H -
Marte Lobo 82 Atacama 2015 Cu -
Enami Delta Pan de Azucar
7 Coquimbo 2012 Cu -
Codelco Ventanas 70 Valparaiso 2014 Cu Gener
Expansión Andina 20 Valparaiso 2014 Cu Colbun
Tres Valle 14 Valparaiso 2012 Cu Pacific Hydro
Expansión El Soldado 11 Valparaiso 2012 Cu Colbun
Los Bronces 95Metropolitan
a 2012 Cu Colbun
Codelco Teniente (Nuevo Nivel)
200 O´Higgiins 2015 Cu Colbun
Strategically located in a region with significant pent-up demand for energy and water
Total capacity of 5,400 MW
– Imported Coal: 2,100 MW
– Natural Gas: 3,300 MW
Close to natural gas accumulations
discovered in the Campos Basin
The industries located within the Superport
will benefit from auto production sharing,
which at current prices represents a reduction
in energy costs by approximately 30%
Located in one of the most important port-industrial complexes in Latin
America
Located in one of the most important port-industrial complexes in Latin
America
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MPX Açu is a licensed 5.4 GW greenfield generation complex in Southeastern Brazil
Oil Companies:
Campos Basin
85% of Brazil’s Oil Production
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Close to natural gas accumulations discovered in the Campos Basin
Seival Mine:– Partnership 70/30: MPX / Copelmi
– Operating License granted
– 152 MM tons in proven reserves
– 459 MM tons in total resources
MPX Sul and MPX Seival:– Capacity: 727 MW + 600 MW
– Coal consumption: 1 ton/ MWh
– Licenses Granted
– Synergies between the two projects
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Located in a region with limited hydro potential
In the South of Brazil, MPX Sul and MPX Seival add up to 1.3 GW
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