RWE Dea. Annual Press Conference. Fiscal Hamburg, April 8, 2008

Transcription

1 RWE Dea Annual Press Conference Fiscal 2007 Hamburg, April 8, 2008

2 RWE Dea in fiscal

3 Crude oil price (Brent) Monthly averages $ /bbl /bbl

4 Prices and exchange rates Gas prices ICE London* and cross-border Germany** 50 /MWh Cross-border Germany ICE NBP * natural gas NBP 1st month ** Source: [German] Federal Office for the Economy and Export Controls (Dec. projected trend) 4

5 RWE Dea Group Performance figures/prices mn Change Brent price US $/bbl % Brent price US /bbl % Exchange rate /US$ Gas production, in mn. m³ Central and Western Europe 3,147 2, North. and East. Europe/CIS North Africa / Middle East Total 3,215 2, Oil production T m³ Central and Western Europe 1,358 1, North. and East. Europe/CIS 735 1, North Africa / Middle East 656 1, Total 2,749 3,805-1,056 5

6 RWE Dea Group Sales revenues million Change Crude oil , Natural gas Operation storage facilities Other , Total 1, , of which in remainder of - RWE Group

7 RWE Dea Group Total earnings mn Change Operating profit Non-operating income ,2 Financial result ,4 Earnings before income taxes Taxes ,7 Earnings after income taxes Minority interests RWE share of net income

8 RWE Dea Group Investments (Capex) mn Central- and Western Europe Northern - and Eastern Europe/CIS North Africa / Middle East Other RWE Dea Group

9 RWE Dea Group Balance Sheet Assets ( mn.) Total long-term short-term other assets (1) Cash and cash equivalents (2) Short-term accounts receivable and other assets (3) (1) (2) (3) 12/31/2007 3, /31/2006 3, (1) (2) (3) Loan to RWE AG (4) (4) (4) Long-term receivables, other assets and deferred taxes (5) Long-term financial assets6 (5) (6) (5) (6) Intangibles/property, plant and equipment/ip (7) (7) (7) 9

10 RWE Dea Group Balance Sheet Liabilities ( mn.) Total long-term short-term 12/31/ /31/ Short-term liabilities (1) (1) 402 Short-term provisions (2) (2) (1) Long-term liabilities, incl. deferred taxes (3) Long-term provisions (incl. pensions 425, prev. year 437) (4) (3) (4) (2) (3) (4) Equity (Group share) (5) (5) (5) Minority holdings 6) (6) 4 3 (6) 10

11 RWE Dea Group Key financials mn Change Ø Operating assets 1, , Operating profit Return on capital (ROCE) in % Capital cost, in % Value contribution, in % Value contribution

12 RWE Dea Group Free Cash Flow mn Income after taxes Depreciation/write-ups Decrease/Increase in provisions Other changes/net current assets Net cash from operating activities Investm. property, plant & equipmt/intang.assets Free Cash Flow I Receipts from retirements of fixed assets 4,4 9.0 Capital spending on financial assets Receipts from divestment KGM Free Cash Flow II

13 Overview of RWE Dea s activities Norway Russia Denmark UK Poland Germany Ukraine Kazakhstan Azerbaijan Malta Turkmenistan Mauritania Algeria Libya Egypt Production & Exploration Exploration New Ventures/Pathfinding 13

14 RWE Dea s activities in Germany Overview of Northern Germany N 14

15 RWE Dea s activities in Germany Mittelplate wells 2007: A15 and A21 15

16 RWE Dea s activities in Germany Exploration projects in Wattenmeer tidelands 5 wells in Heide / Büsum licence (RWE Dea 50% - Op. / Wintershall 50%) Execution from end-2010 at the earliest with drilling rig on pontoon Expected potential approx. 7 million m 3 of oil net RWE Dea N 16

17 RWE Dea s activities in Germany Drilling projects in 2007, Germany 17

18 RWE Dea s activities in Poland Overview 18

19 RWE Dea s activities in the United Kingdom Overview 19

20 RWE Dea s activities in Denmark Licences 4/95 Nini and 16/98 Cecilie 20

21 RWE Dea s activities in Norway Snøhvit-Projekt RWE Dea Anteil 2,81% Start der LNG-Produktion ( ) Erste Verladung: Gjøa RWE Dea Anteil 8% Einreichung PDO: Genehmigung: Feldesentwicklung begonnen; Produktionsstart: 4.Q

22 RWE Dea s activities in Egypt Overview N 100% 22

23 RWE Dea s activities in Egypt Drilling activities in North Alexandria concession Taurus N-1 Libra N-1 Taurus Deep-1 Raven-3 Raven-4 Giza N-1 Giza S-1 wells to deep formations shallow formations 23

24 RWE Dea s activities in Egypt Status of Disouq, East Delta and Tanta concessions Fortsetzung 3-D-Seismik North Sidi Ghazy-1X Disouq El Tayifah Deep-1X Zafaraan-1 East Delta Tanta 24

25 RWE Dea s activities in Egypt Concession West Mediterranean offshore Block 1 West Med. Offshore Block 1 Idku 25

26 RWE Dea s activities in Egypt further activities East Yidma Zeit Bay 26

27 RWE Dea s activities in Algeria Reggane Nord drilling activities in 2007 and 2008 Djebel Heirane Kahlouche Tiouliline Sali Kahlouche South Anzeglouf Reggane Azrafil 27

28 RWE Dea s activities in Algeria M Sari-Akabli drilling activities in 2007 and 2008 Tilmas M Sari 1 Hassi M Sari Tigfermas North Tigfermas Oued Talha Akabli 1 Akabli 2 Akabli 3 Akabli 5 Akabli 4 Akabli 6 28

29 RWE Dea s activities in Libya Overview 29

30 RWE Dea s activities in Libya NC193 drilling programme 30

31 RWE Dea s activities in Libya NC194 and NC195 drilling programme 31

32 RWE Dea s activities in Libya NC 196, NC197, Area 58 32

33 RWE Dea s activities east of Malta 14 E 16 E 18 E Sizilien 36 N Area 6 Area 3 GOZO ITALY MALTA MALTA 200 m Area 3 Block 4 RWE Global Dea/ Petroleum Global Petroleum Area 3 Block 5 RWE Global Dea/ Petroleum Global Petroleum Mediterranean Sea 200 m Area 4 Area 2 TGS-NOPEC 1,000 m Area 1 TUNISIA Area 5 Pancontinental Area 4 Block 3 Pancontinental MALTA LIBYA Area 7 TGS-NOPEC 34 N 34 N 36 N 14 E 16 E 18 E 33 Km

34 RWE Dea New Ventures North-eastern Europe / CIS focus regions Norway Russia Denmark UK Poland Germany Ukraine Kazakhstan Azerbaijan Malta Turkmenistan Mauritania Algeria Libya Egypt Production & Exploration Exploration New Ventures/Pathfinding 34

35 Development of RWE Dea s reserves/ resources Reserves (C) and drilled resources (S) Development of Reserves and Contingent Resources [Mm³ OE] S C

36 The RWE Dea Strategy Objective: to double the annual production volume by 2013 (in million barrels of oil equivalents) Gas Oil 55 CAGR ~ 11 % * 2013e Organic growth due to advanced development projects Increase in P50 reserves (9% CAGR ) by converting existing resources Increase in resources by intensified exploration activities Number of exploration and validation wells per annum quadrupled since 2005 (from 10 to approx. 40 wells) Discoveries of exploration and validation wells constantly high (approx. 60%) *) excluding production in Dubai and Kazakhstan 36

37 RWE Dea investments in million, upstream business 800 about p.a. 37

38 Company Integrated Management System Safety at work Health Integration of requirements Environmental protection Plant safety Quality CIMS 38

39 CO2 storage project Exploratory phase: project stages Preparations for exploration Regional study Fundamental research Feasibility Exploration I Seismic testing Survey design Acquisition Interpretation Exploration II Drilling Approval of? Drilling planning Drilling/measuring Storage Interpretation facility/ operation

40 RWE Dea Employees jobs converted to full-time positions, as of December ,014 1,091 about 1,

41 Employee Survey 2007 Job satisfaction: RWE Dea vs. external data for comparison Working conditions Activities Further development Opportunities for advancement Remuneration Social and additional benefits Cooperation Immediate superior Global specialists Information and communication Enterprise 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% * 22 Production and logistics companies RWE Dea Yes% Yes% external comp. values* RWE Dea Partly% Yes% Min/Max 41

42 RWE Dea on successful track Our Company delivers proof of its performance by recording substantial income intensifies field development work intensifies investments expands the base of reserves and resources is growing with more and highly motivated employees is improving its organisational structure maintains high environmental standards 42

43 RWE Dea Annual Press Conference Financial year 2007 Hamburg, 8 April 2008