The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 Annual Performance Review Mr Sipho Mkhize President & CEO Presentation.

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Presentation transcript:

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 Annual Performance Review Mr Sipho Mkhize President & CEO Presentation to the Parliamentary Portfolio Committee 24 th October 2007, Cape Town

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 1 PSA005-Contributions to Energy Sector JvW-V1 Objectives An update on the overall PetroSA performance 1 How PetroSA will participate in the implementation of infrastructure projects 2 Shared understanding of PetroSA’s mandate as the National Oil Company

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 2 PSA005-Contributions to Energy Sector JvW-V1 Overview of PetroSA

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 3 PSA005-Contributions to Energy Sector JvW-V1

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 4 PSA005-Contributions to Energy Sector JvW-V1 Annual Results ­People ­Customer ­Internal Business Processes ­Financials

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 5 PSA005-Contributions to Energy Sector JvW-V1 People Strategic partnerships with key investors and suppliers to develop sustainable long- term skills transfer platform Develop local suppliers to ensure know-how is within country Increase skill pool and management capacity to higher levels Schools: support of rural areas with technical equipment and teacher support Artisans: increase the Centre of Excellence concept and co- operate with industry and strategic suppliers Universities: increase capacity in technical field, support research programmes Graduates: ensure graduates get access to learning opportunities at early stage of career to become professional engineers Professionals: grow talent to next level via overseas assignments with strategic partners Internally: structured personal development process for all staff Training Employment Equity at 69% against a target of 60% Focused on chronic ailments including HIV and Aids Employment Equity Wellness Programme

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 6 PSA005-Contributions to Energy Sector JvW-V1 Customer Preferential Procurement: R1,2bn spent (41%) Financial and operational support to SASDA Developed JVs with industry partners including BEE off-takers (Sales: R 100m) Supplier Development Programme: suppliers participated in shutdown Broad-Based Black Economic Empowerment Annual contribution of R44m towards:  Education R32.6m  HealthR 5.2m  Poverty alleviation programmes R 5.7m Corporate Social Investments Government CEF Improved perception (insurance market) Stakeholders

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 7 PSA005-Contributions to Energy Sector JvW-V1 Insurance Market: Strong improvement in risk rating due to improvements in Asset Management Overall Ranking by MARSH: 2004: “Better than Avg.” 2006: “Good” >20% increase in Software ranking “Software” quality consistently regarded by Market Engineers as THE priority issue

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 8 PSA005-Contributions to Energy Sector JvW-V1 Internal Business Processes Relatively successful shutdown i.t.o.  Labour issues  Start-up and sustainability  Zero fatalities and environmental incidents  ISO creditations retained SHEQ Board & Committees  Strategic Direction  Oversight  Internal Audit  Risk & Compliance  People Human Capital Auditor General  Unqualified audit report  Other Matters Strategy & Governance

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 9 PSA005-Contributions to Energy Sector JvW-V1 Financials 2003/42004/52005/62006/7 Macro-economic indicators Exchange rate (R/$) Oil price (USD) Operational Volumes (1x10 6 m 3 )2,163,382,872,73 Turnover (R’bn)3,476,457,518,95 Net profit (R’bn)0,241,742,762,73 Dividends (R’bn)--0,500,69

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 10 PSA005-Contributions to Energy Sector JvW-V1 Financials

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 11 PSA005-Contributions to Energy Sector JvW-V1 Annual Results “2030 Growth Strategy” Long Term Vision Feasibility Studies - Crude Refinery - Logistical Infrastructure - Upstream Feedstock & Mossel Bay

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 12 PSA005-Contributions to Energy Sector JvW-V1 The long term vision……… Significantly increase production capacity in the medium term to address South Africa’s shortfall, by building a new refinery in Play a leading role in improving South Africa’s distribution and logistics infrastructure, by building additional terminals. Become a fully integrated national oil company, visible in all market sectors, by entering the downstream market. Support government empowerment initiatives by becoming the leading BEE company in the oil industry.

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 13 PSA005-Contributions to Energy Sector JvW-V1 Crude Refinery: Location screening Saldanha Bay Coega Richards Bay Pre-feasibility study 5 Potential locations screened on 8 criteria Key characteristics Newcastle Durban

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 14 PSA005-Contributions to Energy Sector JvW-V1

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 15 PSA005-Contributions to Energy Sector JvW-V1 PetroSA’s gas strategy rests on three pillars with well defined intentions Exploitation of South Coast Gas reserves over the next 10 years 1 Development of West Coast Gas accumulations for a 20- year supply 2 Indigenous gas LNG Neighbouring gas Gas 2030 strategy Importation of LNG in the short term 3 Acquisition of equity in future global LNG projects 4 Access to gas- producing gas in Mozambique 5 Development of CBM 6 Development of other gas prospects in Mozambique 7

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 16 PSA005-Contributions to Energy Sector JvW-V1

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 17 PSA005-Contributions to Energy Sector JvW-V1

The Petroleum Oil and Gas Corporation of South Africa (Pty) Ltd Reg. No. 1970/008130/07 18 PSA005-Contributions to Energy Sector JvW-V1 Thank You!