Security Code Tokyo 5020
November 11, 2020
Supplementary Information
~ ENEOS Group ~
Contents
Overview of ENEOS Group
Financial Results
Financial Results Data
Business Environment and Data
Energy Segment
Petroleum Products and Petrochemicals Business
Overseas Business Projects
Electric Power Business
- Electricity and City Gas
- Renewable Energy Material Business
- High Performance Materials
- Lubricants
Oil and Natural Gas E&P Segment
Business Area
Business Activities
Sales Volume and Reserves of Principal
Oil and Natural Gas E&P Projects
Production Schedule of Principal E&P Projects
Principal Individual E&P Project Overview
ENEOS Group's Reserve Standards
2
4
Metals Segment
12 Functional Materials / Thin Film Materials / Tantalum
- and Niobium Business Principal Products and Applications Copper Business
- Overseas Copper Mine Development
- 1 Worldwide Copper Cathodes Supply & Demand
28 | 16 | Earnings Structure of Copper Smelting and Refining Business |
17 | Recycling and Environmental Services | |
29 | 18 | Metal Group Affiliates |
31
32
33
34
36
47
49
51
52
53
54
55
56
【Reference】
Our Long-Term Vision and Medium-Term Management Plan are in the link below
https://www.hd.eneos.co.jp/english/company/system/plan.html
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 1 |
Overview of ENEOS Group
Aiming to develop into one of the most prominent and comprehensive energy, resources and materials company groups in Asia
Market Share of domestic sales | |
of petroleum products | |
47% | |
FY2019 actual: No. 1 in Japan | |
Petrochemicals Supplying Capacity | |
Paraxylene | ※1 |
million | |
No. 1 in Asia | 3.62 tons/year |
Propylene | million |
No. 1 in Asia | 1.64 tons/year |
Power Generating Capacity | |
1.59mW | 124thousand kW |
Renewable Energy |
(as of Sep. 30, 2020)
※1 External sales basis
JX Nippon Oil & Gas Exploration
Crude oil and natural gas production
(a project company basis) 110 thousandbarrels/day
Crude oil equivalent (FY2019 actual)
JX Nippon Mining & Metals
Equity entitled copper mine production
210 thousand tons/year
contained in copper concentrate (FY2019 actual)
Refined copper production capacity
450 thousandtons/year
Electronic Materials
Products with world No.1 market shares
Listed subsidiaries
NIPPO
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 2 |
Financial Results
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 3 |
Financial Results Data / IFRS
Financial Summary IFRS
FY2019 | FY2020 | ||||||||||||||||||||||
1Q | FH | Full Year | 1Q | FH | Full Year | ||||||||||||||||||
(JPY billion) | Actual | Actual | Actual | Actual | Actual | Forecast | |||||||||||||||||
(Nov. 2020) | |||||||||||||||||||||||
Net Sales | 2,514.8 | 5063.1 | 10,011.8 | 1,546.2 | 3362.3 | 7,500.0 | |||||||||||||||||
Energy | 2,129.9 | 4280.4 | 8,419.4 | 1,195.8 | 2607.9 | 6,060.0 | |||||||||||||||||
Oil and Natural Gas E&P | 31.7 | 59.1 | 133.4 | 22.7 | 47.2 | 110.0 | |||||||||||||||||
Metals | 247.6 | 499.1 | 1,004.4 | 221.7 | 495.0 | 960.0 | |||||||||||||||||
Others | 105.6 | 224.5 | 454.6 | 106.0 | 212.2 | 370.0 | |||||||||||||||||
Operating Income (Loss) | 49.3 | 130.9 | (113.1) | 21.0 | 88.9 | 200.0 | |||||||||||||||||
Energy | 13.0 | 49.2 | (162.8) | (18.4) | 20.1 | 85.0 | |||||||||||||||||
Oil and Natural Gas E&P | 13.2 | 24.8 | (38.8) | 0.7 | 1.5 | 5.0 | |||||||||||||||||
Metals | 15.3 | 35.2 | 44.6 | 19.2 | 36.9 | 54.0 | |||||||||||||||||
Others | 7.8 | 21.7 | 43.9 | 19.5 | 30.4 | 56.0 | |||||||||||||||||
Finance Income (Loss) | (6.8) | (13.0) | (22.7) | (6.4) | (11.8) | (25.0) | |||||||||||||||||
Energy | (1.4) | (3.3) | (4.0) | (0.8) | (1.4) | (7.0) | |||||||||||||||||
Oil and Natural Gas E&P | (0.5) | (2.5) | (5.8) | (2.4) | (4.1) | (7.0) | |||||||||||||||||
Metals | (5.3) | (8.5) | (15.7) | (2.9) | (5.3) | (9.0) | |||||||||||||||||
Others | 0.4 | 1.3 | 2.8 | (0.3) | (1.0) | (2.0) | |||||||||||||||||
Profit attributable to owners of parent | 17.4 | 71.0 | (187.9) | (4.9) | 36.4 | 90.0 | |||||||||||||||||
Energy | 4.5 | 31.5 | (162.6) | (20.6) | 8.8 | 48.0 | |||||||||||||||||
Oil and Natural Gas E&P | 6.9 | 12.4 | (62.4) | (4.6) | (7.6) | (12.0) | |||||||||||||||||
Metals | 4.0 | 17.1 | 16.6 | 12.8 | 21.5 | 33.0 | |||||||||||||||||
Others | 2.0 | 10.0 | 20.5 | 7.5 | 13.7 | 21.0 | |||||||||||||||||
Capex | 69.5 | 152.3 | 371.3 | 59.1 | 127.4 | 445.0 | |||||||||||||||||
Depreciation and Amortization | 78.3 | 157.4 | 266.5 | 79.7 | 124.6 | 256.0 | |||||||||||||||||
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 4 |
Financial Results Data / IFRS
Operating Income by segment IFRS
FY2019 | FY2020 | |||||
1Q | FH | Full Year | 1Q | FH | Full Year | |
(JPY billion) | Actual | Actual | Actual | Actual | Actual | Forecast |
(Nov. 2020) | ||||||
Operating Income (Loss) | 49.3 | 130.9 | (113.1) | 21.0 | 88.9 | 200.0 |
Energy Segment | 13.0 | 49.2 | (162.8) | (18.4) | 20.1 | 85.0 |
Petroleum Products | 7.3 | 41.7 | 7.5 | 33.5 | 46.2 | 65.0 |
Petrochemicals | 1.7 | 3.0 | (19.0) | (2.7) | (9.5) | (13.0) |
Electric power | 3.1 | 4.6 | 10.8 | 6.2 | 10.2 | 13.0 |
Materials | 19.6 | 38.0 | 44.4 | 6.8 | 10.2 | 10.0 |
Inventory Valuation | (18.7) | (38.1) | (206.5) | (62.2) | (37.0) | 10.0 |
Oil and Natural Gas E&P Segment | 13.2 | 24.8 | (38.8) | 0.7 | 1.5 | 5.0 |
Metals Segment | 15.3 | 35.2 | 44.6 | 19.2 | 36.9 | 54.0 |
Functional Matls, Thin Film Matls and others | 5.1 | 12.1 | 14.5 | 8.5 | 17.3 | 27.0 |
Mineral Resources | 3.9 | 11.0 | 14.7 | 7.0 | 14.0 | 18.0 |
Smelting and Recycling | 6.0 | 15.2 | 22.9 | 6.8 | 10.8 | 16.0 |
Non-allocated corporate expenses and others | 1.3 | (1.9) | (4.2) | (3.1) | (5.2) | (7.0) |
Inventory Valuation | (1.0) | (1.2) | (3.3) | - | - | - |
Others | 7.8 | 21.7 | 43.9 | 19.5 | 30.4 | 56.0 |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 5 |
Financial Results Data / IFRS
Operating Income by segment (Forecast)
FY2020 Forecast (May 2020) | FY2020 Forecast (Nov.2020) | ||||
FH | LH | Full Year | FH | LH | Full Year |
(JPY billion) |
Operating Income (Loss) | (35.0) | 145.0 | 110.0 | 88.9 | 111.1 | 200.0 |
(excl. Inventory Valuation) | 15.0 | 150.0 | 165.0 | 125.9 | 64.1 | 190.0 |
Energy Segment | (70.0) | 105.0 | 35.0 | 20.1 | 64.9 | 85.0 |
Petroleum Products | (33.0) | 73.0 | 40.0 | 46.2 | 18.8 | 65.0 |
Petrochemicals | 2.0 | 18.0 | 20.0 | (9.5) | (3.5) | (13.0) |
Electric power | 4.0 | 1.0 | 5.0 | 10.2 | 2.8 | 13.0 |
Materials | 7.0 | 18.0 | 25.0 | 10.2 | (0.2) | 10.0 |
Inventory Valuation | (50.0) | (5.0) | (55.0) | (37.0) | 47.0 | 10.0 |
Oil and Natural Gas E&P Segment | 2.0 | (2.0) | 0.0 | 1.5 | 3.5 | 5.0 |
Metals Segment | 14.0 | 15.0 | 29.0 | 36.9 | 17.1 | 54.0 |
Functional Matls, Thin Film Matls and oth | 10.2 | 10.8 | 21.0 | 17.3 | 9.7 | 27.0 |
Mineral Resources | 5.5 | 4.5 | 10.0 | 14.0 | 4.0 | 18.0 |
Smelting and Recycling | 4.2 | 3.8 | 8.0 | 10.8 | 5.2 | 16.0 |
Non-allocated corporate expenses and ot | (5.9) | (4.1) | (10.0) | (5.2) | (1.8) | (7.0) |
Inventory Valuation | - | - | - | - | - | - |
Others | 19.0 | 27.0 | 46.0 | 30.4 | 25.6 | 56.0 |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 6 |
Financial Results Data / IFRS
Balance Sheets IFRS
Mar. 2020 | Jun. 2020 | Sep. 2020 | |||
(JPY billion) | Actual | Actual | Actual | ||
Assets | 8,011.3 | 7,694.9 | 7,763.7 | |
Current assets | 2,878.6 | 2,574.4 | 2,720.3 | |
- Cash and deposits | 402.0 | 468.3 | 381.0 | |
Non-current assets | 5,132.7 | 5,120.5 | 5,043.4 | |
Property, plant and equipment | 3,724.9 | 3,707.9 | 3,615.6 | |
Goodwill | 185.7 | 185.5 | 185.6 | |
Intangible assets | 345.4 | 341.2 | 340.7 | |
Others | 876.7 | 885.9 | 901.5 |
Liabilities | 5,303.4 | 5,064.0 | 5,088.3 | ||
Interest-bearing debt | 2,300.8 | 2,318.6 | 2,197.3 | ||
Other liabilities | 3,002.6 | 2,745.4 | 2,891.0 | ||
Equity | 2,707.9 | 2,630.9 | 2,675.4 | ||
Total equity attributable to owners of the parent | 2,311.0 | 2,235.9 | 2,278.6 | ||
Non-controlling interests | 396.9 | 395.0 | 396.8 | ||
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 7 |
Financial Results Data
Dubai Crude Oil Price
($/bbl) | |||||||||||||
Average Price | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | |||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | |||||||
Dubai Crude Oil | 105 | 83 | 46 | 47 | 56 | 69 | 67 | 61 | 62 | 51 | 60 | 31 | 43 |
($/bbl)
120
100
80
60
40
20
0
Apr. 2013 Apr. 2014 Apr. 2015 Apr. 2016 Apr. 2017 Apr. 2018 Apr. 2019 Apr. 2020
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 8 |
Financial Results Data
Copper Price and Inventory Level
(¢ /lb) | |||||||||||||
Average Price | FY2013 | FY2014 | FY2015 FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | ||||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | |||||||
Copper | 322 | 297 | 237 | 234 | 292 | 288 | 277 | 263 | 267 | 256 | 266 | 242 | 296 |
Inventory Level | Copper price | ||||||||||||
(1,000t) | (¢ /lb) | ||||||||||||
700 | 350 | ||||||||||||
600 | 300 | ||||||||||||
500 | 250 | ||||||||||||
400 | 200 | ||||||||||||
300 | 150 | ||||||||||||
200 | 100 | ||||||||||||
100 | 50 | ||||||||||||
0 | 0 | ||||||||||||
Apr. 2013 | Apr. 2014 | Apr. 2015 | Apr. 2016 | Apr. 2017 | Apr. 2018 | Apr. 2019 | Apr. 2020 |
LME Copper inventory level | LME Copper price | |
(end of month) | (monthly average) |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 9 |
Financial Results Data
Exchange Rate
(Yen/$) | |||||||||||||
Average Price | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | |||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | |||||||
Exchange Rate | 100 | 110 | 120 | 108 | 111 | 111 | 110 | 107 | 109 | 109 | 109 | 108 | 106 |
(Yen/$)
130
120
110
100
90
80
Apr. 2013 Apr. 2014 Apr. 2015 Apr. 2016 Apr. 2017 Apr. 2018 Apr. 2019 Apr. 2020
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 10 |
- Energy Segment -
Environment / Data
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 11 |
Domestic Petroleum Product Demand
Energy Segment
(Petroleum Products and Petrochemicals)
Note: Excluding Crude Oil for electric power plants.
Source: Petroleum Association of Japan and Company data
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 12 |
ENEOS Group Market Share and | Energy Segment |
1 | 1 |
Demand in Japan, CDU Utilization Rate | (Petroleum Products and Petrochemicals) |
Domestic Market Share | Domestic Demand | (KKL) | |||||||
2Q19 | 2Q20 | 2Q19 | 2Q20 | Changes vs. | |||||
YTD | YTD | YTD | YTD | 2Q19 YTD | |||||
a) | Gasoline | 49.4% | 49.1% | a) | Gasoline | 25,480 | 22,474 | 88.2% | |
b) | Kerosene | 46.5% | 36.8% | b) | Kerosene | 3,540 | 3,628 | 102.5% | |
c) | Diesel Fuel | 42.4% | 43.0% | c) | Diesel Fuel | 16,874 | 15,413 | 91.3% | |
d) | Fuel Oil A | 48.8% | 47.0% | d) | Fuel Oil A | 4,556 | 4,405 | 96.7% | |
a+b+c+d | 46.8% | 45.9% | a+b+c+d | 50,449 | 45,921 | 91.0% | |||
Total Domestic Fuel 2 | 47.6% | 45.9% | Total Domestic Fuel 2 | 77,426 | 69,014 | 89.1% | |||
CDU 1Utilization Rate (Excluding the impact of periodic repair)
FY2018 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | ||||
ENEOS Group | 3 | 91% | 92% | 91% | 88% | 82% | 68% | 61% | ||
NOTES: | ||||||||||
1 | Crude Distillation Unit | |||||||||
2 | Excluding crude oil for electric power plants | |||||||||
3 | Excluding condensate splitters of Mizushima and Kashima | Source: Petroleum Association of Japan and Company data |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 13 |
Sales Volume by Product
Energy Segment
(Petroleum Products and Petrochemicals)
(ten thousand KL)
ENEOS Group | ||||
FH19 | FH20 | Changes vs. | ||
FH19 | ||||
Gasoline | 1,311 | 1,103 | -15.9% | |
Premium | 138 | 116 | -15.9% | |
Regular | 1,167 | 982 | -15.9% | |
Naphtha | 251 | 163 | -35.1% | |
Jet | 86 | 40 | -53.5% | |
Kerosene | 152 | 126 | -17.1% | |
Diesel Fuel | 738 | 663 | -10.2% | |
Fuel Oil A | 234 | 206 | -12.0% | |
Heavy Fuel Oil C | 173 | 155 | -10.4% | |
For Electric Power | 59 | 41 | -30.5% | |
For General Use | 114 | 114 | 0.0% | |
Total Domestic Fuel | 2,945 | 2,456 | -16.6% | |
Crude Oil | 1 | 0 | -100.0% | |
Lubricants & Specialties | 151 | 135 | -10.6% | |
Petrochemicals (ten thousand tons) | 469 | 355 | -24.3% | |
Exported Fuel | 1,090 | 425 | -61.0% | |
LPG (ten thousand tons) | 33 | 22 | -33.3% | |
Coal (ten thousand tons) | 251 | 201 | -19.9% | |
Total Excluding Barter Trade & Other | 4,940 | 3,594 | -27.2% | |
Barter Trade & Other | 1,210 | 1,043 | -13.8% | |
Total | 6,150 | 4,637 | -24.6% | |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 14 |
Number of Service Stations (Fixed-Type)
Energy Segment
(Petroleum Products and Petrochemicals)
End of | End of | End of | Sep. 30 | ||||
FY2017 | FY2018 | FY2019 | FY2020 | ||||
ENEOS | 13,304 | 12,961 | 12,757 | 12,690 | |||
Idemitsu Kosan | |||||||
6,573 | 6,465 | 6,384 | 6,342 | ||||
Cosmo Oil | 2,858 | 2,791 | 2,755 | 2,740 | |||
Other | 1 | 795 | 792 | 775 | 777 | ||
Oil Companies | 23,530 | 23,009 | 22,671 | 22,549 | |||
(76.5%) | (76.5%) | (76.5%) | (76.5%) | ||||
Private Brands and | 7,217 | 7,061 | 6,966 | 6,916 | 2 | ||
Other | (23.5%) | (23.5%) | (23.5%) | (23.5%) | |||
Total | 30,747 | 30,070 | 29,637 | 29,465 | 2 | ||
Number of Company-Owned Service Stations
End of | End of | End of | Sep. 30 | ||
FY2017 | FY2018 | FY2019 | FY2020 | ||
ENEOS | 3,010 | 2,954 | 2,905 | 2,881 | |
Number of Self-Service Stations | |||||
End of | End of | End of | Sep. 30 4 | ||
FY2017 | FY2018 | FY2019 | FY2020 | ||
ENEOS | 4,318 | 4,361 | 4,429 | 4,453 | |
Total in Japan 3 | 7,920 | 8,068 | 8,278 | 8,316 |
Notes:
1 Figures are total of Taiyo Oil and Kygnus Sekiyu 2 Estimated by ENEOS
3 Figures include only self-service retail outlets that are affiliated with oil companies 4 Number of Self-Service Stations for total in Japan is as end of Jun.2020
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 15 |
Petroleum Product Margins
(Gasoline, Kerosene, Diesel Fuel and Fuel Oil A)
Energy Segment
(Petroleum Products and Petrochemicals)
(Yen/L)
20
18
16
14
12
10
8
6
4
2
The bar graph indicates average margins for the year.
0
Apr. 2010 Apr. 2011 Apr. 2012 Apr. 2013 Apr. 2014 Apr. 2015 Apr. 2016 Apr. 2017 Apr. 2018 Apr. 2019 Apr. 2020
Margin = Spot Price - All Japan Crude Oil CIF (including petroleum tax and interest)
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 16 |
Petroleum Product Margins (Gasoline)
Energy Segment
(Petroleum Products and Petrochemicals)
(Yen/L) | ||
90 | 25 | |
80 | ||
70 | 20 | |
60 | ||
15 | ||
50 | ||
40 | ||
10 | ||
30 | ||
20 | 5 | |
10 | ||
0 | 0 | |
Apr. 2014 Oct. 2014 Apr. 2015 Oct. 2015 Apr. 2016 Oct. 2016 Apr. 2017 Oct. 2017 Apr. 2018 Oct. 2018 Apr. 2019 Oct. 2019 Apr. 2020 Oct. 2020 | ||
Margin (Right axis) | Spot price (Left axis) | Crude oil CIF Price (Left axis) |
Margin = Spot Price - All Japan Crude Oil CIF (including petroleum tax and interest)
Source : Trade statistics (Ministry of Finance, Japan)
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 17 |
Petroleum Product Margins (Kerosene)
Energy Segment
(Petroleum Products and Petrochemicals)
(Yen/L)
90 | 25 | ||
80
70
60
50
40
30
20
15
10
20 | 5 |
10 | |
0 | 0 |
Apr. 2014 Oct. 2014 Apr. 2015 Oct. 2015 Apr. 2016 Oct. 2016 Apr. 2017 Oct. 2017 Apr. 2018 Oct. 2018 Apr. 2019 Oct. 2019 Apr. 2020 Oct. 2020 |
Margin (Right axis) | Spot price (Left axis) | Crude oil CIF Price (Left axis) | ||||
Margin = Spot Price - All Japan Crude Oil CIF (including petroleum tax and interest)
Source : Trade statistics (Ministry of Finance, Japan)
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 18 |
Petroleum Product Margins (Diesel Fuel)
Energy Segment
(Petroleum Products and Petrochemicals)
(Yen/L) | |
90 | 25 |
80 | |
70 | 20 |
60 | |
15 | |
50 | |
40 | |
10 | |
30 | |
20 | 5 |
10 | |
0 | 0 |
Apr. 2014 Oct. 2014 Apr. 2015 Oct. 2015 Apr. 2016 Oct. 2016 Apr. 2017 Oct. 2017 Apr. 2018 Oct. 2018 Apr. 2019 Oct. 2019 Apr. 2020 Oct. 2020 |
Margin (Right axis) | Spot price (Left axis) | Crude oil CIF Price (Left axis) | ||
Margin = Spot Price - All Japan Crude Oil CIF (including petroleum tax and interest)
Source : Trade statistics (Ministry of Finance, Japan)
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 19 |
Petroleum Product Margins (Fuel Oil A)
Energy Segment
(Petroleum Products and Petrochemicals)
(Yen/L)
90 | 25 | ||
80
70
60
50
40
30
20
15
10
20 | 5 |
10 | |
0 | 0 |
Apr. 2014 Oct. 2014 Apr. 2015 Oct. 2015 Apr. 2016 Oct. 2016 Apr. 2017 Oct. 2017 Apr. 2018 Oct. 2018 Apr. 2019 Oct. 2019 Apr. 2020 Oct. 2020 |
Margin (Right axis) | Spot price (Left axis) | Crude oil CIF Price (Left axis) | ||||
Margin = Spot Price - All Japan Crude Oil CIF (including petroleum tax and interest)
Source : Trade statistics (Ministry of Finance, Japan)
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 20 |
Paraxylene Price and Margin
(vs. Dubai Crude Oil)
Energy Segment
(Petroleum Products and Petrochemicals)
($/ton)
Average Price | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | |||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | ||||||
Asian Contract Price | 1,105 | 813 | 817 | 863 | 1,081 | 910 | 808 | 801 | 708 | 807 | 494 | 544 |
Margin (vs. Dubai Crude Oil) | 498 | 482 | 477 | 456 | 579 | 423 | 365 | 350 | 341 | 369 | 271 | 231 |
($/ton) | ||||||
1,800 | ||||||
1,600 | ||||||
1,400 | ||||||
1,200 | ||||||
1,000 | ||||||
800 | ||||||
600 | ||||||
400 | ||||||
200 | ||||||
0 | ||||||
Apr. | Apr. | Apr. | Apr. | Apr. | Apr. | Apr. |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
Margin (vs. Dubai Crude Oil) | Paraxylene (ACP) | Dubai Crude Oil |
If ACP is undecided, average price of spot market is used
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 21 |
Benzene Price and Margin
(vs. Dubai Crude Oil)
Energy Segment
(Petroleum Products and Petrochemicals)
($/ton)
Average Price | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | |||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | ||||||
Asian Contract Price | 1,090 | 668 | 723 | 826 | 764 | 618 | 662 | 680 | 703 | 666 | 358 | 427 |
Margin (vs. Dubai Crude Oil) | 483 | 337 | 383 | 406 | 262 | 131 | 219 | 229 | 337 | 229 | 136 | 115 |
($/ton) | ||||||
1,800 | ||||||
1,600 | ||||||
1,400 | ||||||
1,200 | ||||||
1,000 | ||||||
800 | ||||||
600 | ||||||
400 | ||||||
200 | ||||||
0 | ||||||
Apr. | Apr. | Apr. | Apr. | Apr. | Apr. | Apr. |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
Margin (vs. Dubai Crude Oil) | Benzen (ACP) | Dubai Crude Oil |
If ACP is undecided, average price of spot market is used
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 22 |
Propylene Price and Margin (vs. Naphtha)
Energy Segment
(Petroleum Products and Petrochemicals)
($/ton)
Average Price | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | |||||
1Q | 2Q | 3Q | 4Q | FY | 1Q | 2Q | ||||||
Far East Spot Price | 1,202 | 767 | 825 | 951 | 1,035 | 891 | 947 | 860 | 790 | 872 | 710 | 839 |
Margin (vs. Naphtha) | 451 | 314 | 388 | 435 | 436 | 350 | 454 | 320 | 349 | 368 | 436 | 442 |
($/ton)
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
Apr. | Apr. | Apr. | Apr. | Apr. | Apr. | Apr. | |
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
Margin (vs. Naphtha) | Propylene (Far East Spot) | Naphtha | |||||
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 23 |
Group Refineries and Plants
Energy Segment
(Petroleum Products and Petrochemicals)
Refineries : 10
Crude capacity:Total 1,868.8 KBD
(As of Oct. 31, 2020)
Plants : 2
Chita ※1
Sakai 141KBD
Osaka (OIREC)
Terminated Operation
in Oct. 2020
Mizushima 350.2KBD
Marifu 120KBD
Oita 136KBD
Sendai 145KBD
Kashima(Kashima Oil)
203.1KBD
Chiba 129KBD ※2
Kawasaki 247KBD
Yokohama | ||||
Wakayama | ||||
Negishi 270KBD | ||||
127.5KBD | ||||
※1 Scheduled to terminate the operation of plant's manufacturing | ※2 Scheduled to start collaboration with PetroChina |
functions(Oct. 2021) | International (JAPAN) Co., Ltd. at Chiba refinery |
instead of Osaka refinery in Dec.2020 |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 24 |
Overseas Business Projects
Vietnam
Energy Segment
(Overseas)
- Signed a Share Subscription Agreement with Vietnam National Petroleum Group (Petrolimex) in 2016, becoming an 8.0% shareholder, and signed a Strategic Cooperation Agreement to evaluate ways to enhance corporate value of both companies. Currently, became a 9.0% shareholder with additional acquisition.
- Exploring measures to increase the corporate value of Petrolimex and various business opportunities in petroleum supply chain from refining to marketing, utilizing our expertise gained through long business experience in Japan
-
Signed a memorandum of understanding to carry out a feasibility study on the cooperative project utilizing JXTG's
Marifu Refinery in April 2018, and aim to establish the joint venture - Signed a memorandum of understanding to carry out a feasibility study on the cooperative project for establishing LNG business in Vietnam, in the presence of government officials from Japan and Vietnam, in July 2019
-
Signed a memorandum of understanding to carry out a feasibility study on the cooperative project utilizing JXTG's
- Vietnam's petroleum product demand is approximately 430KBD (as of 2019)*, which is expected to grow to 560KBD
along with economic growth | *Gasoline, Kerosene, Diesel Fuel, Fuel Oil, Jet Fuel |
Australia
- Entered into the petroleum downstream business in Australia in 2015
- Demand fundamentals in Australia boosted by population growth and resource development
- Logistics costs from Japan to Australia are favorable
-
Founded a 50/50 joint venture company, TQ Holdings Australia Pty
Limited, with Qube Holdings Ltd, a leading Australian nationwide logistics company, in 2015 - Further expansion of sales network mainly through acquisition of petroleum product sales company
- Acquisition of Petro National Pty Ltd and Oilsplus Holdings Australia Pty Ltd in 2017
- Acquisition of South West Fuel Centre Pty Ltd in 2019
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 25 |
Electricity & City Gas Business
- Structure of electric power source (As of Jun. 2020)
Thermal
Biomass
Hydropower
Solar PV
Wind
- Power generating capacity of each business
PPS | 11 stations | 1,536 thousand kW | |
Thermal power generation | 9 stations | 1,463 thousand kW | |
(Refinery capacity excluding private use) | |||
Biomass | 1 station | 68 thousand kW | |
Hydropower | 1 station | 5 thousand kW | |
(Contract with JX Nippon Mining & Metals) | |||
Solar PV generation | 19 stations | 47 thousand kW | |
Wind generation | 2 stations | 4 thousand kW | |
Total (equity basis) | 1,587 thousand kW |
Energy Segment
(Electricity and City Gas )
- Expansion of Electricity Business
Supply
Power source utilizing petroleum fuel / LNG
- Started commercial operation of power generation facilities (60 thousand kW)
at Mizushima Refinery (Jun. 2018)
Power source utilizing recyclable energy
- Started operation of biomass power generation facilities (68 thousand kW) at Muroran Biomass Power Generation G.K. (May 2020)
- Started operation of mega solar power plants (1 thousand kW each) at Sakata (Sep. 2020) and Shimonoseki (Oct. 2020)
- Started construction of mega solar power plant (1 thousand kW) at Fushiki (Oct. 2020)
Marketing
For extra-high-voltage,high-voltage (Industrial use)
- Completed nationwide expansion (excluding Okinawa prefecture and remote
islands) (Apr. 2020) | (Logo) |
For low-voltage power customers (Household)
- Completed nationwide expansion (excluding Okinawa prefecture and remote islands) (Jun. 2020)
- Further development of City Gas Business
Supply | (Logo) |
Power source utilizing LNG
- Started commercial operation of gas supply (270 t/h) in Kanagawa (Apr. 2020)
Marketing
-
Started city gas retail business (Feb. 2019) Sales area
"Tokyo area" of Tokyo Gas supply. Propane gas is not applicable
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 26 |
Renewable Energy Business
Energy Segment
(Renewable Energy)
Aiming for the Realization of a Sustainable Society
Conversion to clean energy | Global initiatives for rapid CO2 reduction |
for lower environmental impact | |
- Renewable Energy Business
- Aiming for wide range of renewable power generation such as solar, wind, geothermal, hydro, biomass, etc.
Mega Solar | Hydropower Generation | Onshore Wind Power Farm |
- Launched the Renewable Energy Association for
Sustainable Power supply
- Aim to promote renewable energy as a long-term stable main power source
- Investment in Renewable Japan (RJ)
• Concluded a business and capital alliance with the company in December 2019
✓ Launched Sustainable Power Supply Fund
• Working with RJ, Tokyu Land Corporation and Kansai Electric Power to expand power
sources | ||
✓ Joined Taiwan's Offshore Wind Power Project | ||
• Acquired a 6.75% stake in Yunlin Offshore Wind Farm from wpd group, a leading | ||
Generation Capacity: | ||
German wind farm developer, in April 2019 | ||
640MW (bottom-fixed type) | ||
✓ Announced participation in offshore wind power development in Akita | ||
Yunlin Offshore Wind Farm | ||
prefecture | ||
• Working with Japan Renewable Energy and Tohoku Electric Power, target to start | ||
operations after 2024 |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 27 |
High Performance Materials Business
Energy Segment
(High Performance Materials)
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 28 |
Lubricants Business
- Locations of Overseas Lubricants Business (As of Jun. 2020)
Sales and marketing offices
Own manufacturing plants
- Expanding overseas business, especially in Asia
Sales and marketing offices | 28 |
Manufacturing plants | 10★ |
(★Own manufacturing plants, | Contractors: 60) |
Energy Segment (Lubricants)
- Expansion of Overseas Lubricants Business
- Established a lubricants marketing company in Dubai (Jul. 2011)
- Lubricants manufacturing plant started operation in Indonesia (Apr. 2012)
- Started joint venture business for lubricants base oil with SK Group of South Korea (Oct. 2012)
- Lubricants manufacturing plant started operation in Vietnam (Feb. 2014)
- Established a lubricants marketing company in India (Aug. 2014)
- Established a lubricants marketing company in Mexico (Jan. 2015)
- Established a lubricants marketing company in the Philippines (Oct. 2019)
- Overseas Lubricants Sales (Actual, Target)
800 | (Unit: KKL) | |||
570 | 560 | 630 | ||
600 | ||||
400 | ||||
200 | ||||
0 | ||||
2018 Act | 2019 Act 2020 Target |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 29 |
- Oil and Natural Gas E&P Segment -
Environment / Data
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 30 |
Oil and Natural Gas E&P Segment
Business Area
10
01
08 | 09 | 02 |
04 03
06
0507
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 31 |
Oil and Natural Gas E&P Segment
Business Activities
▼ Project Company In Production ● Under Development ● Under Exploration ●
01 | Japan | JX Nippon Oil & Gas Exploration Corp. | ● ● ● |
02 | U.S.A. | JX Nippon Oil Exploration (U.S.A.) Ltd. | ● |
JX Nippon Oil Exploration (EOR) Ltd. / Petra Nova Parish Holdings LLC | ● |
03 | Vietnam | Japan Vietnam Petroleum Co., Ltd. |
04 | Myanmar | Nippon Oil Exploration (Myanmar) Ltd. |
05 | Malaysia | JX Nippon Oil & Gas Exploration (Malaysia) Ltd. |
06 Indonesia | Nippon Oil Exploration (Berau) Ltd. | |
KG Berau Petroleum Ltd. |
07 Papua New Guinea Merlin Petroleum Company
Nippon Oil Exploration (Niugini) Ltd. | |
Nippon Papua New Guinea LNG LLC | |
08 09 UAE・Qatar | Abu Dhabi Oil Co., Ltd. |
United Petroleum Development Co., Ltd. | |
10 The North Sea | JX Nippon Exploration and Production (U.K.) Ltd. |
● ● ●
● ●
● ● ●
● ● ●
● ● ●
● ● ●
●
●
●
●
● ●
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 32 |
Sales Volume and Reserves of
Principal Oil and Natural Gas E&P Projects
Oil and Natural Gas E&P Segment
(1,000boed)(million boe)
Sales Volume | Reserves* | ||||||
First half of 2020FY | |||||||
Country/Area | |||||||
Mar.-'18 end | Mar.-'19 end | Mar.-'20 end | |||||
Total | Oil | Gas | |||||
(FY2017) | (FY2018) | (FY2019) | |||||
U.S.A. | 4 | 3 | 1 | 26 | 16 | 14 | |
Vietnam | 4 | 3 | 1 | 8 | 6 | 6 | |
Myanmar | 2 | 0 | 2 | 5 | 7 | 2 | |
Malaysia | 31 | 4 | 27 | 58 | 86 | 84 | |
Indonesia | 24 | 1 | 23 | 146 | 139 | 140 | |
Papua New Guinea | 14 | 4 | 10 | 86 | 81 | 71 | |
United Arab Emirates, | 16 | 16 | 0 | 81 | 60 | 72 | |
Qatar and other | |||||||
North Sea, U.K. | 26 | 12 | 14 | 109 | 116 | 107 | |
Total | 121 | 43 | 78 | 519 | 511 | 496 | |
Sales Volume & Reserves:JX Nippon Oil & Gas Exploration's project companies including the equity-method affiliates
- Please refer P.47 about our Reserves Evaluation Standards
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 33 |
Oil and Natural Gas E&P Segment
Production Schedule of Principal E&P Projects
Projects | Schedule | |||
Helang・Layang Gas Field
(Malaysia, Sarawak, Block SK10)
Tangguh LNG Project
(Indonesia, Berau)
Rang Dong、Phuong Dong
Oil Field (Vietnam, Block 15-2)
PNG LNG Project
(Papua New Guinie)
Mariner Oil Field
(U.K. North Sea)
Culzean Gas Field
(U.K. North Sea)
In 2017:Layang Field - Gas Production Commenced | In 2018 : Beryl Gas Field | |||||||||||
In 2019:Layang Field - Oil Production Commenceed | Gas Production Commenced | |||||||||||
In 2003 | In 2014 | In 2017 : Beryl Gas Field | ||||||||||
Made FID for Layang Oil/Gas Field | ||||||||||||
Production of Helang Gas | Acquired Interest and | |||||||||||
Field Commenced | In 2016 | Development Commenced | ||||||||||
Made FID for LNG Expansion | ||||||||||||
In 2009 | In 2014 | In 2020 | ||||||||||
Production Commenced | HCG-EOR production | Construction for LNG | ||||||||||
commenced | expansion project underway | |||||||||||
In 1998 | In 2008 | In 2013 | In 2019 | |||||||||
Rang Dong Oil Field | Phuong Dong Oil Field | Extended Rang Dong PSC Term | Extended Phuong Dong | |||||||||
Production Commenced | Production Commenced | PSC Term | ||||||||||
In 2007 | In 2009 | In 2014 | ||||||||||
Commencement | ||||||||||||
Made FID | Production Commenced | |||||||||||
of the Project | ||||||||||||
In 2012 | In 2013 | In 2019 | ||||||||||
Acquired Interest | Made FID | |||||||||||
Production Commenced |
In 1994 | Exploration | In 2015 | In 2019 | |
Acquired Interest | Development | Made FID | Production Commenced | |
2000 | Production | 2010 | 2020 |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 34 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 35 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (U.S.A) ①
Production
K2 | Cooley | MP140 | |||
(offshore) | (onshore) | (offshore) | |||
Project Company | JX Nippon Oil Exploration (U.S.A.) Ltd. | ||||
Shareholders | ENEOS Holdings USA Inc.(100%)* | ||||
(Holding Percentages) | |||||
Project Status | Production | Production | Production | ||
Interest | 11.6% | 50.0% | 35.0% | ||
Occidental (41.8%) | |||||
Partners | EcoPetrol (20.8%) | Hilcorp | Fieldwood | ||
ENI (13.4%) | (50.0%) | (65.0%) | |||
ConocoPhillips (12.4%) | |||||
Operator | Occidental | Hilcorp | Fieldwood | ||
Sales Volumes | 3,400 boed | ||||
First half of 2020FY | (Oil 2,900b/d, Gas 3.1mmcf/d) | ||||
* registered trade name was changed in 2020/Oct from JX Holdings (U.S.A.) Inc.
Production
●In 1990, began exploration, development, and production operations at an onshore field in Texas and offshore blocks in both deep and shallow water in the Gulf of Mexico.
●In 2007, acquired 11.6% interest in K2 from Anadarko.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 36 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (U.S.A) ②
Production
Constructing carbon capture system that captures 90% of carbon dioxide (CO2) in the processed flue gas from an existing unit at the WA Parish power plant, and by injecting the captured carbon dioxide in the West Ranch oil field, trying to increase crude oil production.
CO2-EOR Project | |
Project Company | JX Nippon Oil Exploration (EOR) Ltd. |
Shareholders 1 | JX Nippon Oil & Gas Exploration Corporation (100%) |
(Holding Percentages:Common Stocks) | |
Project Status | Production |
Interest | 50.0% |
Project Company | Petra Nova Parish Holdings LLC 2 |
1 JBIC holds preferred stocks issued by JX Nippon Oil Exploration (EOR) Ltd.
2 JX Nippon Oil Exploration (EOR) Limited and a subsidiary of NRG Energy Inc. respectively hold 50% interest of Petra Nova Parish Holdings LLC. Petra Nova Parish Holdings LLC holds 50% interest of the West Ranch Oil Field through its subsidiary. (JX Nippon Oil Exploration (EOR) Limited indirectly holds 25% interest of the West Ranch Oil Field.)
Production
●In 2014, participated in CO2-EOR business.
●In 2016, carbon capture system began operation. ●In 2017, began production.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 37 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (Vietnam)
Production Development Exploration
Oil Fields
Gas Fields
Oil Pipelines
Gas Pipelines
Since the acquisition in 1992, the project has been one of our key operations. JVPC, our subsidiary, acts as operator in the block.
The Rang Dong Oil Field and The Phuong Dong Oil Field feature an unconventional fractured granite basement rock reservoir that is unique in the world. Our fracture evaluation technology is highly valued and is receiving worldwide recognition.
As part of our corporate activities, we have been promoting social welfare activities in Vietnam to improve the lives of the people of Vietnam.
Block 15-2 | ||
Rang Dong Oil Field | Phuong Dong Oil Field | |
Project Company | Japan Vietnam Petroleum Company | |
Shareholders | JX Nippon Oil & Gas Exploration (100%) | |
(Holding Percentages) | ||
Project Status | Production/Development/Exploration | |
Interest | 39.5% | 64.5% |
Partners | PVEP (30.0%) | PVEP (35.5%) |
(Interest) | Perenco(30.5%) | |
Operator | Japan Vietnam Petroleum Company | |
Sales Volumes | 4,800 boed | |
First half of 2020FY | (Oil 3,400b/d, Gas 8.0mmcf/d) | |
Production Development Exploration
●In 1992, JVPC acquired a working interest in block 15-2
●In 1994, JVPC discovered the Rang Dong Oil Field within block 15-2, and began production in that field from 1998.
●In July 2008, Rang Dong Oil Field achieved a cumulative production volume of 150 million barrels.
●In August 2008, JVPC began production in the Phuong Dong Oil Field.
●In November 2013, determined term extension of the Rang Dong Oil Field (5 years).
●In July 2014, block 15-2 achieved a cumulative production volume of 200 million barrels. ●In October 2014, JVPC began HCG-EOR project
●In November 2019, determined term extension of Phuong Dong Oil Field (5 years).
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 38 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (Myanmar)
We have been participating in the Yetagun project in Myanmar since the exploration stage. After the appraisal activities and the construction of the production and shipping facilities, the project is now at a stable production stage.
Production Exploration
Block M-12, 13, 14 | |
Project Company | Nippon Oil Exploration (Myanmar) |
Shareholders | JX Nippon Oil & Gas Exploration (40.0%) |
Mitsubishi Corporation (10.0%) | |
(Holding Percentages) | |
Government of Japan (50.0%) | |
Project Status | Production/Exploration |
Interest | 19.3% |
Partners | Petronas Carigali (40.9%) |
MOGE (20.5%) | |
(Interest) | |
PTTEP International (19.3%) | |
Operator | Petronas Carigali |
Sales Volumes | 1,600boed |
First half of 2020FY | (Oil 0.1b/d, Gas 8.5mmcf/d) |
Production
●In 1991, NOEX Myanmar acquired a working interest in blocks M-13/14 offshore Myanmar.
●In 1992, acquired a working interest in block M-12 and discovered the Yetagun Gas Field in that block.
●In 2000, production at the Yetagun Gas Field commenced, with the produced gas supplied to the Ratchaburi power plants in Thailand.
●In October 2014, began production in the Yetagun North Gas Field.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 39 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (Malaysia)
Since the acquisition of Block SK10 in 1987, the project has been one of our key operations. We act as the operator in the block. The natural gas from the block is exported in the form of liquefied natural gas (LNG) to various countries including Japan.
Production Development Exploration | |||
SK10 | |||
(Herang Gas Field, Other) | |||
Project Company | JX Nippon Oil & Gas Exploration (Malaysia) | ||
JX Nippon Oil & Gas Exploration (78.7%) | |||
Shareholders | Inpex (15.0%) | ||
(Holding Percentages) | |||
Mitsubishi Corporation (6.3%) | |||
Project Status | Production/Development/Exploration | ||
Interest | 75.0% | ||
Partners | Petronas Carigali (25.0%) | ||
(Interest) | |||
Operator | JX Nippon Oil & Gas Exploration (Malaysia) | ||
Sales Volumes | 31,000boed | ||
First half of 2020FY | (Oil 4,100b/d、Gas 161.7mmcf/d) | ||
Production Development Exploration |
- In 1987, acquired a working interest in Block SK10 offshore Sarawak, Malaysia.
- In 1990, discovered the Helang Gas Field, where production commenced in 2003.
- In 1991, discovered the Layang Oil and Gas Field.
- In 2014, decided to develop the Layang Oil and Gas Field.
- In 2017, gas production commenced in the Layang Oil and Gas Field.
- In 2017, acquired a working interest in the Beryl Gas Field and development commenced.
- In 2018, production commenced in the Beryl Gas Field.
- In 2019, oil production commenced in the Layang Oil and Gas Field
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 40 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (Indonesia)
Production Development Exploration
Gas Fields
We have participated in the Tangguh LNG Project since the exploration stage and started LNG production in 2009. This is the second LNG project we have participated in, following the LNG Tiga project in Malaysia, and we are working to attain long- term and stable LNG production and revenue.
Tangguh LNG Project | ||
Project Company | Nippon Oil Exploration (Berau) | |
Shareholders | JX Nippon Oil & Gas Exploration (51.0%) | |
(Holding Percentages) | JOGMEC (49.0%) | |
Project Status | Production/Development/Exploration | |
Interest | 12.2% (After Unitization) | |
Partners | BP (40.3%) | KG Berau/KG Wiriagar (10.0%) |
(Interest) | MI Berau (16.3%) | LNG Japan (7.3%) CNOOC (13.9%) |
Operator | BP | |
Sales Volumes* | 23,600 boed | |
First half of 2020FY | (Oil 500b/d, Gas 138.6mmcf/d) | |
* Volumes attributable to the equity method affiliate are included Production Development Exploration
- From 1990, excavated three test wells, and natural gas was discovered in the area. Subsequently, discovered natural gas in the Vorwata Gas Field, Wiriagar Deep structure, and other gas fields.
- From December 2002, those with interests in the Berau, Wiriagar, and Muturi blocks agreed to become partners in unitizing the blocks and undertake development work cooperatively.
- LNG production commenced in June 2009, and the first cargo was shipped in July 2009.
- In July 2016, decided to expand Tangguh LNG Facility.
- Construction for LNG expansion project underway
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 41 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (Papua New Guinea) ①
Production Development Exploration
Kutubu Oil Field, Moran Oil Field, | ||
Gobe Oil Field, etc | ||
Project Company | Merlin Petroleum Co (79.6%) | |
Nippon Oil Exploration Niugini Pty Ltd (30.7%) | ||
Project Status | Production/Development/Exploration | |
Interest | 8.6%~73.5% | |
Partners | ExxonMobil Oil Search Santos | |
(Interest) | PNG Government, Landowners | |
Operator | Oil Search、ExxonMobil | |
Sales Volumes* | 13,700 boed | |
First half of 2020FY | (Oil 3,600b/d, Gas 60.6mmcf/d) | |
* Including sales volume of PNG LNG |
PNG LNG Project | |
Project Company | Nippon Papua New Guinia LNG LLC (79.6%) |
Project Status | Production |
Interest | 4.68% |
Partners | ExxonMobil(33.2%) Oil Search (29.0%) |
(Interest) | Santos(13.5%) PNG Government・Landowners(19.6%) |
Operator | ExxonMobil |
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 42 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (Papua New Guinea) ②
Production Development Exploration
Kutubu, Moran, Gobe oil fields and other
Production
-
In 1990, Japan Papua New Guinea Petroleum acquired Merlin in Papua New Guinea.
Subsequently, development, and production activities have been undertaken in the Kutubu, Moran, Gobe, SE Gobe, and SE
Mananda oil fields. - In 2008, acquired additional equity of oil field from
AGL Energy.
Exploration
- In April 2011, discovered oil at excavating test well Mananda-5 in Block PPL219.
- In January 2018, received independent certification of gas reserves of 4.36tcf in Block PRL3 (currently Block APDL13) of the P'nyang Gas Field.
PNG LNG Project
We have been involved in the PNG LNG Project since the beginning of the project. In December 2009, we made a Final Investment Decision on the Project, and the development work is in progress with the goal of starting shipments in 2014. PNG LNG Project has the full support of the PNG government, and we expect it to contribute to our revenues in the future.
Production
- In December 2009, PNG LNG Project participants made a final investment decision to proceed with development.
- In May 2014, the PNG LNG Project shipped its first LNG cargo.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 43 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (UAE, Qatar)
El Bunduq
Umm Al Anbar
Neewat Al
GhalanMubarraz
Hail
Oil Fields | Abu Dhabi Oil Bunduq | ||
Mubaraz, Umm Al-Anbar, Neewat Al-Ghalan, Hail | |||
Project Company | Abu Dhabi Oil | ||
JX Nippon Oil & Gas Exploration (32.2%) | |||
Partners | Cosmo Abu Dhabi Energy Exploration & Production Co., Ltd. (64.4%) | ||
(Interest) | Chubu Electric Power Co., Inc. (1.7%) | ||
Kansai Electric Power Co., Inc. (1.7%) | |||
Project Status | Production | ||
Interest | 100% | ||
Operator | Abu Dhabi Oil |
Production | ||
El Bunduq | ||
Project Company | United Petroleum Development | |
(Bunduq Company Limited) | ||
Partners | JX Nippon Oil & Gas Exploration (50%) | |
(Interest) | Cosmo Energy Exploration & | |
Production Co., Ltd. (50%) | ||
Project Status | Production | |
Interest | 100% | |
Operator | Bunduq Company Limited | |
Production
- In 1970, United Petroleum Development acquired a working interest in El Bunduq Oil Field.
- In 1975, oil production commenced in El Bunduq Oil Field.
- In 1983, oil production was resumed by a secondary recovery scheme using water injection.
- In 2006, El Bunduq achieved a cumulative production volume of 200 million barrels.
- In 2018, effectuation of New Concession Agreement.
Production
- In 1967, acquired a working interest in block of Mubarraz.
- In 1973, oil production commenced in Mubarraz Oil Field.
- In 1989, oil production commenced in Umm Al Anbar Oil Field.
- In 1995, oil production commenced in Neewat Al Ghalan Oil Field.
- In 2009, 3 fields achieved cumulative production volume of 300 million barrels.
- In 2012, effectuation of New Concession Agreement.
- In November 2017, oil production commenced in Hail Oil Field.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 44 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (U.K.) ①
U.K.
We have 8 fields currently producing oil and gas, and we have projects such as the Culzean Gas Field and Mariner Oil Field underway.
Production Exploration
Brea, Andrew, | Culzean gas field | |
Kinnoull and other fields | ||
Project Company | JX Nippon Exploration and Production (U.K.) Ltd. | |
Shareholders | JX Nippon Oil & Gas Exploration (100%) | |
Project Status | Production | Production/Exploration |
Interest | 4.0%-30% | 18.01% |
Partners | BP, Repsol Sinopec, | Total (49.99%) |
RockRose and others | BP (32.00%) | |
Operator | BP, TAQA, and others | Total |
Sales Volumes* | 26,500 boed | |
First half of 2020FY | (Oil 12,300b/d, Gas 84.8mmcf/d) | |
*including the production from Mariner Oil Field
Production
- From 1994 to 2002, acquired a working interest in individual blocks
-
In December 2012, acquired some interest in production of plural assets from
ENI - In December 2014, Kinnoull started production
- In October 2017, sold entire working interest in the Blane Oil Field
- In July 2018, sold entire working interest in the Ninian Oil Field.
- In December 2018, sold entire working interest in the Merganser Gas Field
- In June 2019, Culzean started production
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 45 |
Oil and Natural Gas E&P Segment
Principal Individual E&P Project Overview (U.K.) ②
Shetland | |
Islands | Mariner Fields |
Orkney
Islands
Oil Fields | Blocks of JX Nippon Exploration and | |||||||
U.K. | Production (U .K. )Ltd. | |||||||
Production | Exploration | ||
Mariner Field | Mariner East Field | ||
Project Company | JX Nippon Exploration and Production (U.K.) Ltd. | ||
Shareholders (Holding | JX Nippon Oil & Gas Exploration (100%) | ||
Percentages) | |||
Project Status | Development | Exploration | |
Interest | 20.00% | 20.00% | |
Equinor 1 (65.11%) | Equinor (65.11%) | ||
Partners | Siccar Point (8.89%) | Siccar Point (8.89%) | |
ONE-Dyas 2 (6.00%) | ONE-Dyas (6.00%) | ||
Operators | Equinor | Equinor | |
- In 2018 May, Statoil changed its name to "Equinor".
- In 2019 Apr, changed its name to "ONE-Days" due to merjer of ONE and Days.
New blocks acquired in 2014 by 28th round of Exploration governmental open tender .
These areas are next to the developed Mariner oil field. When oil and gas field are found, we expect reduction in development costs through the use of facilities in this oil field.
Production
●In December 2012, acquired the explorational interest in Mariner Oil Field from ENI.
●In February 2013, decided to develop.
●In August 2016, sold part of the working interest. ●In August 2019, started production.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 46 |
Oil and Natural Gas E&P Segment
The ENEOS Group's Reserve Standards
The ENEOS Group's criteria for evaluating reserves conforms to the PRMS (Petroleum Resources Management System) Standards, drafted by the SPE (Society of Petroleum Engineers), WPC (World Petroleum Congress), AAPG (American Association of Petroleum Geologists), and SPEE (Society of Petroleum Evaluation Engineers).
The ENEOS Group's reported reserves are in line with reserves as defined by PRMS Standards. The degree of certainty
of the reserve values is categorized, in order, as either Proved, Probable, or Possible. Following trends common at other industry firms, the JXTG Group has used Proven and Probable reserves to arrive at its total reserves.
Definition of Proved Reserves
Reserves judged to have a high level of certainty from analysis of geoscience and production/petroleum engineering data, based on economic conditions, operational methods and laws and regulations assumed by the ENEOS Group in light of discovered reservoirs-there is at least a 90% probability that actual recovered volume will equal or exceed estimates of oil and natural gas deposits reasonably evaluated as commercially recoverable.
Definition of Probable Reserves
There is at least a 50% probability that additional oil and natural gas reserves will equal or exceed actual recovered volume of the total of estimated proved and probable reserves. While these additional reserves are evaluated in the same manner as proved reserves, the probability of recoverability of probable reserves is lower than proved reserves, but higher than possible reserves.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 47 |
- Metals Segment - Environment / Data
Copyright © ENEOS Holdings, Inc. All Rights Reserved.
48
Functional Materials / Thin Film Materials / Tantalum
and Niobium Business Principal Products and Applications
Metals Segment
Targets for | Product lines | Treated Rolled | High Purity | Primary applications | End-use applications | ||
Corson Alloys | |||||||
Semiconductors | Copper Foil | Tantalum | Capacitors | ||||
Powders | Smartphones | ||||||
Targets for | Titanium Copper | Phosphor Bronze | Auto-focus camera | ||||
Alloys | |||||||
Magnetic | modules | PCs | |||||
Devices | |||||||
Targets for | InP Compound | Connectors | |||||
FPDs | Semiconductors | Recording media | |||||
FPC | |||||||
Laser diodes | LSI | Communications | |||||
infrastructure | |||||||
CT scans | Further demand growth | ||||||
Electric vehicles | |||||||
in the age of IoT and AI | |||||||
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 49 |
Functional Materials / Thin Film Materials / TantalumMetals Segment
and Niobium Business Global Market Share of Our Principal Products
Global market | End-use applications | |||||||||||
share | ||||||||||||
Product | Primary applications | |||||||||||
As of FY19 | Mobile phones, | Digital | Communications | |||||||||
PCs | infrastructure and | Automobiles | ||||||||||
Our estimate | smartphones | appliances, AV | ||||||||||
data centers | ||||||||||||
Sputtering Targets for | 60% | CPUs, memory chips, etc. | ✔ | ✔ | ✔ | ✔ | ✔ | |||||
Semiconductors | ||||||||||||
No.1 | ||||||||||||
Sputtering Targets for | 60% | Hard disks, etc. | ✔ | ✔ | ✔ | |||||||
Magnetic Devices | ||||||||||||
No.1 | ||||||||||||
InP Compound | 50% | Optical communication devices, | ✔ | ✔ | ✔ | |||||||
Semiconductors | No.1 | ultra fast ICs | ||||||||||
Treated Rolled Copper Foil | 80% | Flexible printed circuit boards | ✔ | ✔ | ✔ | ✔ | ||||||
No.1 | ||||||||||||
Phosphor Bronze Foil | 65% | Connectors, | ✔ | ✔ | ✔ | ✔ | ||||||
(thickness less than 0.1 mm) | No.1 | Springs for electronic parts | ||||||||||
High Strength / High Conductivity | 60% | Lead frames, Connectors, | ✔ | ✔ | ✔ | ✔ | ✔ | |||||
Corson Alloys | ||||||||||||
No.1 | ||||||||||||
Titanium Copper Alloys | 70% | High-end connectors, etc. | ✔ | ✔ | ✔ | ✔ | ||||||
No.1 | ||||||||||||
High Purity Tantalum Powders | 30% | ✔ | ✔ | ✔ | ||||||||
Capacitors, etc. | ||||||||||||
for Electronic Materials | No.1 | |||||||||||
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 50 |
Metals Segment
Copper Business
Overseas mines
Caserones
(Chile)
52%1 | ||||||
2019年 | 2020年1-2Q | |||||
Copper concentrate2 | 126KT | 49KT | ||||
SE-EW copper cathode | 26KT | 11KT | ||||
Los Pelambres | ||||||
(Chile) | ||||||
16%1 | ||||||
2019年 | 2020年1-2Q | |||||
Copper concentrate2 | 368KT | 176KT | ||||
Escondida | ||||||
(Chile) | ||||||
3%1 | ||||||
2019年 | 2020年1-2Q | |||||
Copper concentrate2 | 906KT | 449KT | ||||
SE-EW copper cathode | 250KT | 135KT | ||||
Stable
procurement
Investment
Gain from
investment
Holdings ENEOS
Alliance
Pan Pacific Copper (Japan)
(Raw material procurement and product sales)
67.8% Consignment of | Return of | 32.2% |
smelting and refining | resulting product |
JX | JX Metals Smelting | Hibi Smelting |
450KT | 200KT | |
Nippon | ||
Saganoseki Smelter & | Tamano Smelter, | |
Refinery | Hibi Kyodo Smelting 3 | |
Hitachi Works | ||
& Mining | 100% | 100% |
LS-Nikko Copper | ||
Metals | ||
(Korea) | ||
270KT 4 | ||
Onsan Plant |
39.9% | 5.0% |
Smelting & Mining Mitsui
1 | Shares indirectly owned by JX Nippon Mining & Metals (as of Sep. 2020) 2 Payable copper contained in concentrate. |
3 | Hibi Smelting equity share is 63.51%. 4 Total Capacity is 680KT. JX Nippon Mining & Metals has 39.9% equity. |
*As announced on November 9, JX Nippon Mining & Metals has reached a basic agreement with Mitsui Mining & Smelting and Mitsui & Co., Ltd., joint
investors in the Caserones Copper Mine, on the transfer to JX Nippon Mining & Metals of all their rights and interests in the mine.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 51 |
Metals Segment
Overseas Copper Mine Development
Caserones Copper Mine (Chile)
Acquisition date | May 2006 | |
$137 million | ||
Acquisition price | ||
$4.2 billion | ||
Initial investment | ||
(As of Sep. 2020) | ||
Ownership | ||
JX Nippon Mining & Metals | 51.50% | |
Mitsui Mining & Smelting | 25.87% | |
Mitsui & Co., Ltd. | 22.63% |
Mine life | From 2013 to 2040 (28 years ) |
Total production (28 years)
Copper : 3,550kt From copper concentrate 3,140kt
From SX-EW process | 410kt |
Molybdenum : 87kt
Production plan
In Mar. 2013, started SX-EW copper cathode production In May 2014, started copper concentrate production
First 10 years | Average | Total | ||
(28 years) | (28 years) | |||
Copper Concentrate | 150 kt/year | 110 kt/year | 3,140 kt | |
Copper | SX-EW Process | 30 kt/year | 10 kt/year | 410 kt |
Total | 180 kt/year | 120 kt/year | 3,550 kt | |
Molybdenum | 3 kt/year | 3 kt/year | 87 kt |
SAG (semi-autogenous grinding) | Flotation Plant | |
Mill | (facility for recovering copper | |
concentrate from crude ore) | ||
*As announced on November 9, JX Nippon Mining & Metals has reached a basic agreement with Mitsui Mining & Smelting and Mitsui & Co., Ltd., joint investors in the Caserones Copper Mine, on the transfer to JX Nippon Mining & Metals of all their rights and interests in the mine.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 52 |
Metals Segment
Worldwide Copper Cathode Supply & Demand
* * * *
*Forecasts by PAN PACIFIC COPPER
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 53 |
Metals Segment
Earning Structure of Copper Smelting and Refining Business
Earning Structure of Copper Smelter & Refinery | Trends of Base TC/RC (negotiation each year-end) | |||||||
LME copper | Cost of copper | Copper cathode | ||||||
TC/RC | ||||||||
cathode price | concentrate | sales price | ||||||
Sales premiums
($ denominated) | Share of |
copper | |
TC/RC | smelter |
($ denominated) | |
Cost of | |
copper | Share of |
concentrate | mining |
company | |
($ denominated) | |
Unit
-TC: Dollar per dry metric ton of copper concentrate
-RC: Cent per pound of copper in copper concentrate
Cost of copper concentrate
The price of copper concentrate, which custom smelters pay to mining companies, is the LME copper cathode price less TC/RC, which is smelting and refining margins. TC/RC under long-term contracts is normally determined through annual negotiation between copper smelters and mining companies.
Copper cathode sales price
The actual sales price of copper cathode produced by copper smelters is the LME price plus sales premium, which is established by reference to various factors, including importation costs and quality.
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 54 |
Metals Segment
Recycling and Environmental Services
Non-ferrous metal scraps | Industrial waste materials |
Printed circuit | Plating | Mobile | Lithium-ion | Waste oil | Waste liquid | Shredder dust | Sludge | |
boards | products | phones | batteries | |||||
Pre-treatment | 5 affiliates | Rendering materials harmless |
JX Nippon Tsuruga | JX Nippon Mikkaichi | JX Nippon Tomakomai | JX Nippon Environmental | JX Nippon Takasho | |||||||||||||||||||||||
Recycle Co., Ltd. | Recycle Co., Ltd | Chemical Co. Ltd. | Services Co., Ltd. | CO., LTD. | |||||||||||||||||||||||
Metal content of valuable metals after pre-treatment | |||||||||||||||||||||||||||
Saganoseki Smelter & Refinery | HMC Dept. of the Hitachi Works | Tsuruga Plant | |||||||||||||||||||||||||
Recycled raw materials | Intermediate products | ||||||||||||||||||||||||||
Copper concentrate | Recycled raw materials | Waste LIB | Waste cathode | ||||||||||||||||||||||||
Physical sorting process | |||||||||||||||||||||||||||
Copper smelting & refining process | Solvent extraction refining | ||||||||||||||||||||||||||
Pyro- & hydro-metallurgical process | |||||||||||||||||||||||||||
Copper/Gold/Silver/Platinum/ | Gold/Silver/Platinum/Palladium | Nickel/Cobalt/Lithium | |||||||||||||||||||||||||
Palladium/Selenium/Tellurium | Lead/Bismuth/Antimony etc. | ||||||||||||||||||||||||||
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 55 |
Metal Group Affiliates
TANIOBIS GmbH | |
TANIOBIS GmbH is one of the world's top suppliers of tantalum and niobium | |
products, including high-purity metal powders and oxide powders. These are | |
used in capacitors, sputtering targets for semiconductors, SAW devices, and | |
other electronic devices essential to the advancement of the IoT society. Taking | |
advantage of its outstanding technological capabilities, marketing capacity, and | |
expertise, TANIOBIS has been actively developing new businesses targeting | |
areas such as the medical field. | |
Toho Titanium Co., Ltd. | Goslar(Germany) |
The Toho Titanium Group manufactures titanium sponge and titanium ingots for | |
aerospace and general industrial applications, as well as high-purity titanium for | |
electronic materials, and fabricated titanium products. In its catalysts and | |
chemicals business, Toho Titanium is utilizing materials produced in the titanium | |
production process and its titanium production technologies to expand into other | |
fields, which include production of catalysts for polypropylene production, high- | |
purity titanium dioxide for electronic materials, and ultra-fine nickel powder for | |
multi-layer ceramic capacitors (MLCC). | |
TATSUTA Electric Wire and Cable Co., Ltd. | Chigasaki Plant |
The TATSUTA Electric Wire and Cable Group has manufactured electric wires and cables. The technical knowhow from this business is applied to such diverse range of fields as EMI shielding film, conductive paste, water leakage detection sensor, and medical equipment products.
The EMI shielding film, a product developed independently by TATSUTA, is widely used as an indispensable component of smartphones and tablets.
HeadOffice&Osaka works
Metals Segment
Tantalum powders
ultra-fine nickel powders
EMI shielding film
Copyright © ENEOS Holdings, Inc. All Rights Reserved. | 56 |
Attachments
- Original document
- Permalink
Disclaimer
Eneos Holdings Inc. published this content on 11 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2020 16:00:06 UTC