Abu Dhabi National Energy Company TAQA Overview EIC Connect Oil, Gas & Power, 4 th June 2013, Abu Dhabi
Who we are? Established in 2005, TAQA is a diversified global energy company headquartered in Abu Dhabi, the capital of the United Arab Emirates, with a footprint spanning four continents Our name TAQA means energy in Arabic. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi s Economic Vision 2030, a roadmap to support the development of a sustainable economy with a greater focus on knowledge-based industries. By operating responsibly, nurturing relationships and investing in our people, we have built a successful global energy business. 1
What we do We are active across the entire energy value chain: power generation and water desalination, oil and gas exploration and production, and emerging and innovative technologies. Following a series of global acquisitions and organic growth, we have become the largest independent power producer in the Middle East and North Africa and an established oil and gas operator. Our Power & Water business represents approximately 55% of our revenues, with our oil & gas business accounting for the other 45%. In early 2012, we established an Energy Solutions business to explore alternative energy solutions in our existing TAQA geographies. In 2012 and Q1 of 2013, Energy Solutions has launched various alternative energy projects locally and internationally We have rigorous health, safety and the environment standards, and seek continuous improvement in everything we do. 2
Organisation and structure Abu Dhabi retains a majority stake (72.5%) in TAQA and has repeatedly stated its support and backing. Our core operations comprise of three business streams: - Power & Water - Oil & Gas - Energy Solutions 3
Our Board Members H.E. Hamad Al-Hurr Al-Suwaidi Chairman H.E. Abdulla Saif Al-Nuaimi Vice Chairman Mr. Carl Sheldon Board member & CEO of TAQA H.E. Abdul Aziz Al Hemaidi Board member H.E. Salem Sultan Al Dhaheri Board member H.E. Ahmed Mohamed Matar Al Mehairi Board member H.E. Saeed Mubarak Al-Hajeri Board member 4
Senior Management Carl Sheldon Chief Executive Officer Stephen Kersley Chief Financial Officer Steven L Phillips General Counsel David Cook Executive Officer, Head of Oil & Gas Frank Perez Executive Officer, Head of Power & Water Dr. Saif Al Sayari Executive Officer, Head of Energy Solutions Ken Boyle Group Vice President, Human Resources Frédéric Lesage Chief Strategy Officer 5
TAQA at a glance 6
Power & Water Overview Well-diversified portfolio of modern assets One of the largest global IPPs in the world 15 power plants in eight countries Installed capacity base (gross) of 16,395 MW 1 and 887 MIGD Strong presence in MENA region Produce 95% of electricity and water for the Emirate of Abu Dhabi International industry partners Modern plants with high availability Stable revenues and returns through long-term PPA and PWPAs Offtake agreements with governmental agencies Contractual protection for cost risks including fuel price, operations & maintenance and financing costs 1 Includes Sohar aluminium plant 7
Power & Water Portfolio of assets Domestic assets Asset Ownership PWPA residual life (years) 2 Fuel Gross Capacity Taweelah A2 54% 6 Dual Fuel 777 MW (50 MIGD) Taweelah A1 54% 8 Dual Fuel 1,600 MW (84 MIGD) Taweelah B 54% 13 Dual Fuel 2,000 MW (163 MIGD) Shuweihat S1 54% 9 Dual Fuel 1,500 MW (100 MIGD) Umm al Nar 54% 11 Dual Fuel 2,256 MW (160 MIGD) Fujairah 1 54% 14 Dual Fuel 861 MW (100 MIGD) Fujairah 2 54% 15 Dual Fuel 2,000 MW (130 MIGD) Shuweihat S2 54% 16 Dual Fuel 1,500 MW (100 MIGD) International assets Asset Ownership PPA residual life (years) 2 Fuel Gross Capacity Jorf Lasfar (Morocco) 100% 15 Coal 1,356 MW Neyveli (India) 99.9% 11 Lignite 250 MW Takoradi (Ghana) 90% 13 Tri-fuel 220 MW Red Oak (US) 85% of toll N/A Natural Gas 832 MW Sohar (Oman) 40% N/A Natural Gas 1,000 MW Jubail (Saudi Arabia) 25% N/A Natural Gas 260 MW Himachal Pradesh (India) 1 Includes Sohar aluminium plant 2 As at December 31, 2012 [49%] [xx] Hydro 100 MW (In development) GWh 80,000 60,000 40,000 20,000 0 Current capacity (gross): 16,395 MW 1 Operational Performance 2010 2011 2012 MIG 280,000 230,000 180,000 130,000 80,000 International Power Domestic Power Water Desalination 8
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Oil & Gas Overview North America Focus on onshore crude oil and natural gas production Success in exploration and unconventional energy plays Substantial natural gas resources Large land holdings in Canada with potential for unlocking additional oil & gas value UK Focus on offshore oil production Experienced offshore operator applying expertise in optimising production from existing developments Operator of Brent pipeline system Announced acquisition of operating interests in four fields and associated infrastructure in the UK Central North Sea Netherlands Focus on strategic energy infrastructure Operator of Alkmaar Peak Gas Installation (PGI) since 1997 with 100% availability Operator and 60% share in Bergermeer Gas Storage (BGS) development The 4.1 bcm BGS facility will be one of the largest open access natural gas storage facility in Europe Iraq 39.9% working interest and operator of Atrush exploration block in Kurdistan area Focus on delineation drilling to determine the size of the potential resources 10
TAQA Energy Solutions Established in January 2012 with the objectives of: Introducing and developing transformational solutions for energy production and generation Originating, executing, and operating alternative energy projects Establishing the Group as a technology and innovation driven organization Accessing untapped development opportunities in the alternative energy market. Strong pipeline of projects Developing a one million tonne per annum waste-to-energy plant in Abu Dhabi in partnership with the Abu Dhabi Centre of Waste Management. Agreed to buy a US-based wind project that has the capacity to generate emissions-free electricity for more than 68,000 homes Pre-qualified to submit a bid to build, own, operate and maintain a wind independent power generation project comprising five wind farms in Morocco 11
Focused strategy with balanced portfolio of assets Pursuing a focused strategy targeted at integration and optimisation Shifting centre of gravity towards the I-MENA region Organic growth and asset optimization Selective acquisitions focused on complementing core assets Divestment of non-core businesses or assets US$ 33.4 billion of total assets across North America, Europe, the Middle East, Africa and India 16,395 MW 1 gross power generation capacity 2P reserves of 600 mmboe (at 31 December 2012) Average 2012 daily production of 135.4 mboe/d Energy Solutions UAE Proposed Waste to Energy project (100 MW) UNITED STATES Proposed wind power generation (205 MW) Oil & Gas Assets 2 NORTH AMERICA Oil & gas exploration and production (85,900 boe/d) UNITED KINGDOM Oil & gas exploration and production (41,800 boe/d) Pipelines NETHERLANDS Oil and gas exploration and production (7,700 boe/d) Bergermeer Gas Storage Pipelines Power & Water Assets 1 UAE Power generation (12,487 MW) Water desalination (887 MIGD) MOROCCO Power generation (1,356 MW) GHANA Power generation (220 MW) SAUDI ARABIA Power generation (250 MW) INDIA Power generation (250 MW) UNITED STATES JV with Morgan Stanley for tolling agreement INDIA Hydro power generation (100 MW) IRAQ 39.9% interest in the Atrush exploration block in the Kurdistan region OMAN Aluminium smelter (360,000 tonnes pa) Power generation (1,000 MW) 12 1 As at 31 December 2012 2 Average production for the FY ended December 31, 2012
TAQA Supply Chain / Procurement Key Contacts Oil & Gas Ian Rattray - (UK) Sourcing Manager Ian.Rattray@taqaglobal.com / +441224275323 Power (Global) Karl Lang VP Asset Management, Global Power Karl.Lang@taqaglobal.com +97126914936 Keith Gelman (Canada) Director Supply Chain Management Keith.Gelman@taqa.ca / +14037245317 Energy Solutions Edward Atkinson Head of Waste to Energy Harminder Dhillon (Kurdistan / Iraq) Manager Strategic Sourcing Harminder.Dhillon@taqa.ca / +14037107074 Edward.Atkinson@taqaglobal.com +97126914876 Guy Smith (Netherlands) Contracts Manager Guy.Smith@taqaglobal.com / +31888272524 13
www.taqaglobal.com 14