SOMOIL - SEPTEMBER 2021 - Energy Capital & Power
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SOMOIL
SOCIEDADE PETROLÍFERA ANGOLANA
“THE IDEAL PARTNER IN ANGOLA”
SEPTEMBER 2021
We Are Somoil
The Industry & Somoil´s Strategy
Agenda
Near Term Perspectives
1
HISTORY
2015
• Appointment of a New Chairman of 2017 2019
the Board (PCA) • Reopening of Bagre Field on Block • Appointment of New
• SOMOIL as Block 2/05 Operator 2/05 Executive Board;
2009
• End of Negotiations with • Negociations for
• Effective Start as (Decree 266/15)
• Reestablishment of FS/FST Schlumberger development of
Operator in FS/FST
Operations • Appointment of a new PCA ESPADARTE
2005 Associations
• Acquisition of 16.33% of Chevron • Changing the organizational
• Acquisition of
(FST Association) structure with the creation of the
Participation in Non
• 2013 • FS/FST – Concession Extension + Department for Operated Blocks
Operated Blocks
2003 • Approval of Tax • Interruption of Bagre Production
• Commencement of 20 years
• Beginning Incentives to Angolan
• Beginning of FS/FST Seismic due to a leak in the pipeline
Indirect Crude Oil Companies
of Activity Acquisition
Marketing
2004
• Beginning of Fuel 2011 2016 2018
2020
2000
Distribution • Commencement
2014 • Moving to the New • Appointment of PCA;
• • Stoppage of the • Appointment of New
Incorporation
• Signature of the of Direct Crude Headquarters Building • Beginning of the
production in Executive Board;
Access Protocol to Oil Marketing • Beginning of the Workforce Reduction
• Launched cost Reduction
the Kwanza Basin FS/FST Organizational Process.
Associations due Project “Emagrece”
Seismic Data Structure • To cope with COVID-19,
2007 to Block 2/05 shut-
• Beginning of Solar Optimization Process started negociation of
• Acquisition of 25% share in ACR down
Energy Activity Contracts
• Acquisition of Participation and
Beginning of the Transition Process for
FS/FST Operation
• Pre-Qualification as an Operating Comp
A successful story in Angola
SOMOIL PRESENTATION
• Largest private Angolan Oil Company
• Operator of three blocks (potential up to 50 000 bopd)
‒ Offshore: block 2.05 (production sharing agreement)
‒ Onshore: blocks FS; FST (concession contract)
• Partner on blocks 3.05, 3.05A, 4.05 and 17.06
• Sizeable workforce of 270 employees
‒ 500 + contractors
• Beneficiary of incentives for Local Oil Companies
(reduced petroleum taxes, no bonus)
Ideal partner for entering Angola 3
OPERATED BLOCKS
• Block 2.05:
• 30% WI – offshore
• 200+ mmbbl of Reserves
• Potential above 40 000 bopd
• 18 oil flields (17 developed / 1 undev.)
• Possibility of focussing on one specific Development Area
• Blocks FS-FST
• 31% WI - onshore
• Potential of 10+ kbopd
3 majors blocks with proven development potential above 50 kbopd
Industry & Somoil´s Strategy
5
Industry severely impacted by the COVID-19 pandemic
Oil Demand Variation 2020 Oil Price in 2020 [USD/Bbl]
vs. 2019 [%]
90 MM Bbld
-10% vs. 2019
Worldwide
Brent: 67 USD/Bbl
Demand
WTI: 61 USD/Bbl
Brent: 51 USD/Bbl
WTI: 48 USD/Bbl
Brent1: 9 USD/Bbl
WTI2: -37 USD/Bbl
42 USD/Bbl
-35% vs. 2019
Brent average oil
price
1. Valor registado a 21 de Abril de 2020; 2. Valor registado a 20 de Abril de 2020
Fonte: U.S. Energy Information Administration; OPEP 6
Prioratize safety and integrity, eliminating serious
incidents and fullfiling all environmental regulations
Relentless focus on eficiency and cost reductions,
through our integrated program “EMAGRECE” (loss weigth)
Strategic
Objectives
Increase profitability through “profitable barrels” and
“profitable sales”; expansion of commercial partners
2020-2023
Increase Reserves Replacement Ratio and lead private
sector towards energy transition into renewable
energies, granting Somoil´s sustainable growth
7
Perspectives
8
2021 – 2022 | STEP CHANGE IN PROFITABILITY Focus on safely
maximizing
“profitable barrels”
Eliminate Serious Incidentes
a. Improve personnel & process safety including barriers
b. Agressevly reduce gas flaring
c. Develop emergency response capabilities
Improvements in Infrastructures
a. Major repairs, recommisioning and or new infrastructure
Bloco
b. Technology
More than Double Capital Investments & Production
a. Major artificial lift upgrades Annual Production [BOPD]
b. Drilling, Workovers, CTU
Launching Somoil Distribution
a. Petrol stations; Lubricants
Excellence in operating Onshore, Shallow water & mature assets 9SUSTAINABLE GROWTH – “Truly Angolan” Investing in Angola to
build a diversified and
resilient portfolio
• Improve and continue to demonstrate capacity to operate efficiently
a. Safety and integrity
b. Field re-development plans for mature assets (IOR, EOR) and Espadarte
• Profitable growth of Somoil´s reserves is critical for the long term
I. New tenders (Onshore and offshore) and exploration in existing blocks
s iniciativas permitirão criar um portfólio de projectos resilientes a variações no preço
II. Investement in mature assets operated by majors
do petróleo, com “olhos” na transição energética
III. Improving financials and good support from banks / financial sector
• Downstream expansion & Growth in renewable energy
• Human Resources Development
a. Ensure effective training and knowledge transfer
b. New talent needed – “growing workforce”
Growing assets,
• Strategic partnerships prioritizing local companies and services
employment and
opportunities10
A well positioned long term partner in AngolaSOCIEDADE PETROLÍFERA ANGOLANA
“Principal (Premier) Empresa Integrada de Energia em Angola”
OFFSHORE ONSHORE • World Class, eficiente energy
company, focused on safely
maximizing value to all stakeholders
SHALLOW WATER
• We take care of our people and the
community where we operate
DOWNSTREAM ENERGIA SOLAR
Premier Integrated Energy Company in Angola
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