GLOBAL STRATEGIC INSIGHT - IEF · 4/9/2011 · GLOBAL STRATEGIC INSIGHT. NOCs – IOCs «...
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GLOBAL STRATEGIC INSIGHT NOCs – IOCs «CO-PETITION» (COLLOBERATION + COMPETITION) TPAO TURKİYE PETROLLERİ A.O. 2nd NOC – IOC FORUM 2011 Bringing Together Distinctive Competences for Common Challenges PARIS, 07-08 APRIL 2011 Mehmet UYSAL President and CEO TPAO 1/29 NOC - IOC FORUM PARIS 2011
Transcript of GLOBAL STRATEGIC INSIGHT - IEF · 4/9/2011 · GLOBAL STRATEGIC INSIGHT. NOCs – IOCs «...
GLOBAL STRATEGIC INSIGHTNOCs – IOCs «CO-PETITION»(COLLOBERATION + COMPETITION)
TPAOTURKİYE PETROLLERİ A.O.
2nd NOC – IOC FORUM 2011Bringing Together Distinctive Competences for Common ChallengesPARIS, 07-08 APRIL 2011
Mehmet UYSALPresident and CEOTPAO
1/29NOC - IOC FORUM PARIS 2011
MARKET VALUES OF THE COMPANIES
8th April 2011
0 % 40 % 80 % 120 % 160 % 200 %
0 %
40 %
80 %
20 %
60 %
100 %
120 %
-20 %
-40 %
INCREASE IN COMPANY VALUE (FOR 2009 ONLY)
INCR
EASE
IN C
OM
PAN
Y VA
LUE
(F
OR
2007
–20
09)
Petrochina
Statoil
CNOOC
Petrobras
Sinopec
ONGC GazpromNeft
Rosneft
Gazprom
Ecopetrol
PTT
NOC’s
ExxonMobil
ChevronTOTAL
BPHusky
ENIMarathon
SHELL Repsol YDP
ConocoPhillips
Surgut
Lukoil TNK-BP
BG
IOC’s
SOURCE: PFC Energy
GROWTH OF NOCs4 TIMES RELATIVE TO IOCs
(40% - 100%)
2/30NOC - IOC FORUM PARIS 2011
PPP (PUBLIC PRIVATE PARTNERSHIP)
WORLD OIL PRODUCTION & REFINERY INVESTMENTS (2010-2020)
INCREASE OF NOCs SHARE
Source:WEO 2010
TOTAL CAPACITY8 MILLION B/D
SHARE OF NOC’S64 %
SAFETY POLICIES IN EUROPEAN SEAS
European Commission Decision(Not approved yet):
“OFFSHORE OIL AND GAS ACTIVITIES AND THEIR REGULATORY ENVIRONMENT
IN EUROPE”
16 MARCH 2011
CAN THESE REGULATIONS COME INTO FORCE ?
FINANCIAL RESPONSIBILITIES WILL INCREASE
EUROPEAN COMPANIES WILL BE APPLYING THIS RULE ALL OVER THE
WORLD
SEAS THAT THE EU HAS GOT BORDERS WITH (BLACK SEA AND MEDITERRANEAN..)
DOMINO EFFECT JUST IN MENA?
8th April 2011#1 RISK FOR NOC’S AND IOC’S IS POLITICAL INSTABILITY HEREAFTER
MISIR
LİBYA
SUMED (2.3 mmbd) – 1.1 mbpdSUEZ: 2 mbpd OIL - 18 mty
LNG
5/30
TOP 10 RISKS OF UPSTREAM COMPANIES
8th April 2011
12
8
7
9
4
6
5
10
3
RISKS 2010 Rank
2009 Rank
2008 Rank
UNCERTAIN ENERGY POLICY 1 2 6ACCESS TO RESERVES 2 1 4COST CONTAINMENT 3 4 3WORSENING FISCAL TERMS 4 5 2CLIMATE, ENVIRON. CONCERNS 5 7 8
PRICE VOLATILITY 6 3 -
HUMAN CAPITAL DEFICIT 7 6 1
SUPPLY SHOCK 8 9 9
OVERLAPPING SERVICE OFFERINGS 9 8 0
NEW OPERATION. CHALLENGES 10 0 0
UP FROM 20009
DOWN FROM 2009
NEW ENTRY
“THE ERNST & YOUNG RISK REPORT 2010” “The Top 10 Risks For Oil And Gas”
6/30
2011 RISK EXPECTATIONS (interviewed 194 top management)
8th April 2011
• RISING OPERATING COSTS
• INCREASING REGULATION
• COMPETITORS
• LIMITED NEW AREAS FOR EXPLORATION
• SHORTAGE OF SKILLED LABOUR
• INCREASING NEW AREAS OF EASY PRODUCTION
• LIMITED ACCESS TO CAPITAL/FINANCE
• ENVIROMENTAL CONCERNS
• ENSURING ADEQUATE SAFETY MEASURES FOR ENV. RISKS
• RISING TAXATION/DEMADS FROM STATES
• DISPUTES OVER SOVEREIGNTY, LEGAL STATUS OF OPERATIONS
• THE NEED FOR CLOSER COLLABORATION WITH PARTNERS
• ENSURING ADEQUATE SAFETY MEASURES FOR PERSONEL
36
28
30
25
20
25
13
16
10
12
8
16
6
%
WHICH OF THE FOLLOWING DO YOU BELIEVE REPRESENT THE MAIN CHALLENGES FOR YOUR COMPANY IN THE NEXT 12 MONTHS? (select up to three) (% respodents)
“Economist Intelligence Unit” “The Outlook For the Oil And Gas Industry In 2011” 7/30
SIX KEY CHALLENGES, AND HENCE OPPORTUNITIES TO SECURECOMPETITIVE ADVANTAGE, that are high on the agendas of many NOCexecutives. These include:
1. RISK MANAGEMENT, REPORTING, AND GOVERNANCE2. TALENT DEVELOPMENT AND RETENTION3. RELATIONSHIPS WITH INTERNATIONAL OIL COMPANIES (IOCS)4. FINANCIAL MANAGEMENT AND INTERNATIONAL TAX PLANNING5. SUPERVISION OF REMOTE OPERATIONS6. CLIMATE CHANGE AND THE ENVIRONMENT.
8/298th April 2011
KEY CHALLENGES and OPPORTUNITIES FOR NOC & IOC
NOC - IOC FORUM PARIS 2011
SOURCE: DELOITTE REPORT - 2008 A NEW ERA FOR NATIONAL OIL COMPANIESwww.deloitte.com/energy
MUTUAL BENEFITS FOR COOPERATIONS AND PARTNERSHIPS
NOC IOC
NOC’S STRENGTHHold reserves
Secured by govermentFinanced by govermentPolitical relations with
goverments
IOC’S STRENGTHKnow-howTechnology
Finance
NOC’s BENEFITS:FOCUSED ON EFFECTIVENESS:
«DO THE RIGHT THINGS»
Secure National DemandSecure Exp. of New Resources
Access to marketsAccess to technologyManagement skills
IOC’s BENEFITS:FOCUSED ON EFFICIENCY:
«DO THE THINGS RIGHT»
Secure CommercialitySecure Sustainable Business Env.
Legal issuesAccess to New Opportunies
Risk Management
SERVICE CONTRACT PSA
8th April 2011 9/30
SHIFT FROM ‘MUTUAL BENEFIT’ to ‘MUTUAL UNDERSTANDING’
TRUSTCommercialization of
the Reserves(for domestic purposes
and for export)
A NEW BUSINESS MODEL
DomesticInternational
Activities
ExplorationProduction
DrillingGas Storage
Pipeline
10/29NOC - IOC FORUM PARIS 2011
By Today:
The 47th vertical deepest onshore well (7200m/24000f)
Drilled 2 ultra deep water (>2100m/6900f) wells in Black Sea
11/298th April 2011
TPAO INTERNATIONAL
COLUMBIA
LIBYA
IRAQ
AZERBAIJAN
KAZAKHSTAN
PRODUCTION PROJECTS
EXPLORATION PROJECTS
NOC - IOC FORUM PARIS 2011
NOC’S• PETROBRAS -Deep Black Sea• SOCAR -Azerbaijan• STATOIL -Azerbaijan• KAZMUNAIGAZ -Kazakhstan• PETRONAS -Iraq• CNOOC -Iraq• GAZPROM NEFT -Iraq• KOGAS -Iraq• LIBYA NOC -Libya• ONGC -Libya
12/298th April 2011
TPAO AND PARTNERS
IOC’S• EXXONMOBIL -Deep Black Sea, Azer.• CHEVRON -Deep Black Sea, Azer.• BP -Azerbaijan• TOTAL -Azerbaijan• LUKOIL -Azerbaijan• ITOCHU -Azerbaijan• INPEX -Azerbaijan• HESS -Azerbaijan• KEC -Iraq• OMV -Shallow Black Sea• TIWAY -Shallow Black Sea• FOINAVON ENERGY - Shallow Black Sea• PERENCO -Turkey• TRANSATLANTIC -Turkey, Unconventional
TPAO IS ALWAYS OPEN TO PARTNERSHIPS WITH IOCs AND NOCs IN AND ABROAD
13/298th April 2011
EXPLORATION IN MEDITERRENEAN - FARMOUT
2D Seismic (2007, 2008) : 11.700 km
2D Seismic (2010): 562km2
NOC - IOC FORUM PARIS 2011
14/29NOC - IOC FORUM PARIS 2011
NATIONAL OIL COMPANY FORUM
7th NATIONAL OILCOMPANY FORUM
Turkey, 25-27 May 2012
The 7th NOC Forumhosted by TPAO will be held in
ISTANBUL – TURKEY at ÇIRAĞAN PALACE
25th – 27th May 2012
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TPAO
THANK YOU
NOC - IOC FORUM PARIS 2011
