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Business plan 2000-2009

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Business plan 2000-2009

  1. 1. PDVSAPDVSA• Dimension• Business Plan 2000-2009Enero 2001 PC2000_10 BUSINESS PLAN ./
  2. 2. PDVSAOverview • PDVSA: a Global Energy Corporation • Reserves (Oil and Gas) • Production Capacity • Refining Capacity • Technology • Green Performance • Business Plan 2000-2009 PC2000_10 BUSINESS PLAN ./
  3. 3. PDVSAA Global Energy Corporation - 1999 RESERVESOIL 77 Bn BLS REFINING CAPACITYGAS 147 TCF 3.3 MMBD PRODUCTION PETROCHEMICAL PROD. CAPACITY 4.5 MMTON/YEAR 3.6 MMBD SALES COAL PROD. Bn $ 32.6 6.4 MM TON/YEAR MARKETING ORIMULSION PROD. 4.5 MMBD 4.8 MM TON/YEAR MMBD= Million Barrels / Day, MM ton= Million Tons TCF= Trillion Cubic Feet PC2000_10 BUSINESS PLAN ./
  4. 4. PDVSA Oil World Proven Reserves World Reserves 1053 Bn BOE 65 R/P 40 Years 24 8 21 37 Ex- URSS 9.6 674 Western 81 Europe North America ME 15 Venezuela 43 43% of the Africa Asia Americas 137 37 Latin America 27 75 AustraliaSource: BP Amoco 99 VENEZUELA: WORLD´s 6th LARGEST PC2000_10 BUSINESS PLAN ./
  5. 5. PDVSA Proven Reserves + Orinoco Belt ORINOCO BELT, THE WORLD LARGEST BITUMEN RESERVOIR Billion Barrels MACHETE MACHETE ZUATA HAMACA C. NEGRO o n o c O r i TOTAL R í o 262 AVAILABLE RESOURCES 489 557 87 227 1360 RECOVERABLE RESOURCES 74 95 18 85 272 PRODUCED AT A RATE OF 10 MBD, RESOURCES WOULD LAST 50 YEARS 113 98 97 90 77 Saudi Arabia Irak UAE Kuwait Iran VenezuelaSource : BP Amoco1999 PC2000_10 BUSINESS PLAN ./
  6. 6. PDVSA Largest Liquid Hydrocarbon Accumulation Billion Barrels 309 262 BITUMEN 113 98 97 90 77 Saudi Arabia Irak UAE Kuwait Iran Venezuela INCLUDING ORINOCO BELT, LARGEST LIQUID HYDROCARBON ACCUMULATIONSource BP Amoco 1999 PC2000_10 BUSINESS PLAN ./
  7. 7. PDVSA Oil Largest Producers: 1999 Production Capacity MMBD 11 9,1 7,5 6,6 3,6 3,6 3,2 SAUDI USA RUSSIA NORTH MEXICO VENEZUELA CHINAARABIA SEASource: EIA PC2000_10 BUSINESS PLAN ./
  8. 8. PDVSA Refining Capacity World Leading Corporations MMBD 6,5 4,0 3,3 3,3 3,1 EXXON/ ROYAL BP / PDVSA CHEVRON/ MOBIL DUTCH/SHELL AMOCO TEXACOSource PIW. Dic - 1999 PC2000_10 BUSINESS PLAN ./
  9. 9. PDVSA Refining Capacity NOC’s MMBD 3.3 2.0 1.8 1.7 1.5 1.1 PDVSA ARAMCO PEMEX PETROBRAS INOC KPC (Saudi Arabia) (Mexico) (Brazil) (Irak) (Kuwait)Source: PIW, Dic., 1999 PC2000_10 BUSINESS PLAN ./
  10. 10. PDVSA Refining Capacity Venezuela USA Capacity (*) : 1116 ThBD European Capacity: 252 ThBD Lemont 167 Nynas 50% (72) Sweden(2 ref./Belgium(1 ref.)/ United Kingdom 2ref.)Paulsboro 84 36 Sweeny (*) 165 Ruhr Oel 50% (432) SavannahChalmette 50% Germany (4 Ref.) 28 (184) 216 LCRC 41.25% (265) 92 110 Lake Charles Paraguaná Refining 320 Complex 940 Capacity (MMBD) Corpus Christi Venezuela 1.3 150 St. Croix 50% International 2.0 ISLA 335 (545) 273 Bajo Grande El Palito Pto.. La Cruz 15 130 200Caribbean Capacity 608 ThBD San Roque (*) 50 % share in deep conversion unit 5 PC2000_10 BUSINESS PLAN ./ 1
  11. 11. PDVSA Refining Capacity European OperationsTOTAL RUHR/NYNÄS: 504 Th BDPDVSA PARTICIPATION : 252 Th BDSUPPLY AGREEMENTS: 272 Th BD Norway Sweden Nynashamn Dundee UK Götenborg Ireland Eastham Wilhelnashaven Rotterdam Amberes Schwedt Gelsenkirchen Karlsruhe Neustadt Marselle TriesteInternational downstream integration allows market access International downstream integration allows market access PC2000_10 BUSINESS PLAN ./ 1
  12. 12. PDVSA Refining Capacity CITGO - PDVMR REFINING CAPACITY (MMBD) TOTAL/PDVSA: 1363/1116 TERMINALS: 59 SERVICE STATIONS: 15.079 STORAGE CAPACITY (MILLION BLS): 24 Lemont Paulsboro CITGO Savannah Lake Charles LyondellCorpus Christi One of the largest retail networks One of the largest retail networks PC2000_10 BUSINESS PLAN ./ 1
  13. 13. PDVSA Overseas Storage Capacity Venezuela BOPEC, N.V Bonaire (PDVSA) Cap.: 10.1 MMB BORCO Bahamas (PDVSA) Cap.: 11 MMB Storage Terminals Total: 50.6 MMB COTCuracao ( leased) Cap.: 14,5 MMB STATIA Terminal POINT FORTIN EMMASTAD San Eustaquio (leased) Trinidad (leased)Cap.: 14,0 MMB Cap.: PDV: 388 ThB Cap.: PDV: 650 ThB Strategic storage assures adequate distribution PC2000_10 BUSINESS PLAN ./ 1
  14. 14. PDVSA Natural Gas Proven Reserves World 2003 Reserves 5170 TCF R/P 65 Years 19 184 88 Western Ex- URSS North Europe 274 America 231 9 1750 ME 41 Venezuela Africa Asia 28% of the 360 Americas 66 Latin 101 America Australia 283 361Source: BP/AMOCO 00 VENEZUELA: WORLD’s 8 th LARGEST PC2000_10 BUSINESS PLAN ./ 1
  15. 15. PDVSA Natural Gas Venezuela’s Gas Reserves / 1999POSSIBLE 133 ASSOCIATED 43 19 % 91% 64 % 17 % 9% 38 146 13PROBABLE PROVEN NON- ASSOCIATED Most of the reserves largely associated to oil PC2000_10 BUSINESS PLAN ./ 1
  16. 16. PDVSA Technology PDVSA Intevep as high tech product provider HHC® HDH+® ISAL® HOTLIFT™ AQUACONVERSION® ST-5® MULTIGEL™ GOV10/20® BIORIZE® CDInterol® INTEBIOS® H2OIL™ INT-SORB™ ORIMULSION® ULTRACLEAN™ WellTECH™ Creating value in all business activities Creating value to Venezuelan nation Win to win relationship with partnersULTRAMIX® INTOIL® THIXOGAS® DISOL® BIODOIL® SULTRAP® ISIS-INT® INPETUS™ ORIMATITA® GREENOIL ® LITEDEM® LITECEM™ DETECTOIL™ INT-FCC-1® EVAEMP™ CARBOLIG® SEDLA® PC2000_10 BUSINESS PLAN ./ 1
  17. 17. PDVSA Green Performance CERTIFIED SUPPLIER ENVIRONMENTAL OF CLEAN MANAGEMENT PRODUCTS SYSTEMS COMMITTED AND ELIMINATION OF RESPONSIBLE LIABILITIES EMPLOYEESDEVELOPMENT AND CONTRIBUTION TO APPLICATION OF ACCOUNTABILITY MEET COMMUNITY TECHNOLOGY TO THROUGH PERFORMANCE NEEDS ON MINIMIZE RISKS INDICATORS AND ENVIRONMENT PREESTABLISHED GOALS PC2000_10 BUSINESS PLAN ./ 1
  18. 18. PDVSA Business Plan 2000-2009Corporate Strategy • Focus on E&P, R&M with own resources - Competitive costs - Effective asset utilization • Promote maximum participation of private sector in: - Natural gasPDVSA - Chemicals and petrochemicals - Refinery streams derivatives - Orimulsion - Coal • Best practices in Health, Safety & Environment Protection. PC2000_10 BUSINESS PLAN ./ 1
  19. 19. PDVSA Business Plan 2000-2009 Production Capacity Th BD 58006000 Profit Sharing Agreements5000 Orinoco Oil Belt 39554000 Operating Agreements New Areas Own Effort.30002000 Own Effort1000 0 00 02 04 06 08 PDVSA’s Business Plan considers a steady growth in production capacity PC2000_10 BUSINESS PLAN ./ 1
  20. 20. PDVSA Exploratory Areas Oil (Million Barrels) / Gas (TCF) CARIBBEAN SEA 13 61 7 22 150.000 Km2 10 47 60.000 Km 2 150.000 Km2 6 6 100.000 Km2Significant opportunities to incorporate new oil and gas reserves PC2000_10 BUSINESS PLAN ./ 2
  21. 21. PDVSA Business Plan 2000-2009 Strategic Associations: heavy oil upgrading projects Production Th BD700 622 Investments 2000 - 2009:600500 HAMACA Partners400 52%300 SINCOR 158200 CERRO NEGRO 32%100 16% PETROZUATA 0 PDVSA 2000 2 4 6 8 2010 Financing Orinoco Oil Belt: a succesful development of huge Reserves: 217 Bn BLs extra-heavy oil reserves (≈ 10-12° API) PC2000_10 BUSINESS PLAN ./ 2
  22. 22. PDVSA Business Plan 2000-2009 Exploration and Production Profit Sharing Operating Agreements AgreementsExploration 9% 22%Own effort 8% 22% Strategic 39% Associations Production Own Effort Investments 2000-2009: 36 - 38 Bn $ PDVSA’s Share : 55% PC2000_10 BUSINESS PLAN ./ 2
  23. 23. PDVSA Business Plan 2000-2009Refining Operational Continuity 37% Environment 13% & Safety 3% 47% Deep Conversion Product Quality Investments: 2,0 - 2,7 Bn $Most investments are dedicated to environmental related projects PC2000_10 BUSINESS PLAN ./ 2
  24. 24. PDVSA Business Plan 2000-2009Orimulsion® 30000 Th TY Volumetric Expectations 25000 20000 MODULE 3 15000 MODULE 2 10000 5000 EXISTING CAP. 0 99 01 03 05 07 09 Strategic Guidelines First module wholly utilized - 6.5 MM T/year capacity Second and third module to be developed mostly by private investors ($1 Billion Approximately) PC2000_10 BUSINESS PLAN ./ 2
  25. 25. PDVSA Total Investments PDVSA Own Effort PDVSA equity in Associations 38% 4% Partners Share 24% 34% Financing Business % • Exploration & Production 69 •Profit Sharing 13 •Orinoco Oil Belt Assoc. 14 •Operating Agreements 11 •PDVSA 31 Plan 2000-2009: • Refining 4U.S.$ 50 - 55 Billion • Natural Gas 9 • Chemicals 15PDVSA SHARE: 42% • Other sectors 3 PC2000_10 BUSINESS PLAN ./ 2
  26. 26. PDVSA SummaryPDVSA´s Business Plan is based on: Venezuela´s large resources endowment Venezuela comparative and competitive advantages Strong financial fundamentals Great opportunities for private investment PC2000_10 BUSINESS PLAN ./ 2

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