Day1 Ahmad Bambang

34
PT Pertamina (Persero) Jln. Medan Merdeka Timur No.1A Jakarta 10110 Telp (62-21) 381 5111 Fax (62-21) 384 6865 http://www.pertamina.com Pertamina: the backbone of national energy securityPertamina Energy Outlook 2015 By : Ahmad Bambang Director, PT Pertamina (Persero) Jakarta, 3-4 December 2014 CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of Pertamina is strictly prohibited

Transcript of Day1 Ahmad Bambang

PT Pertamina (Persero)

Jln. Medan Merdeka Timur No.1A Jakarta 10110

Telp (62-21) 381 5111 Fax (62-21) 384 6865

http://www.pertamina.com

“Pertamina: the backbone of

national energy security”

Pertamina Energy Outlook 2015

By :

Ahmad Bambang Director,

PT Pertamina (Persero)

Jakarta, 3-4 December 2014

CONFIDENTIAL AND PROPRIETARY

Any use of this material without specific permission of Pertamina is strictly prohibited

Page 2

Agenda

2

3 Upstream Business

4

Pertamina’s Business Overview

Midstream Business

5 Downstream Business

1 Pertamina’s Energy Policy & Strategy

6 New & Renewable Energy Business

Page 3

Agenda

2

3 Upstream Business

4

Pertamina’s Business Overview

Midstream Business

5 Downstream Business

1 Pertamina’s Energy Policy & Strategy

6 New & Renewable Energy Business

Page 4

Full production

Banyu Urip di thn

2015. Produksi

PEPC pada RJPP

2012-2016 lebih

tinggi

dibandingkan

RJPP 2011-2015

karena

percepatan

produksi gas JTB,

Cendana, dan

Kedung Keris.

To be a world class national energy company

Mission

Clean, Competitive, Confident, Customer Focus, Commercial, Capable

Pertamina’s Corporate Vision, Mission and Values

Challenge to synchronize national energy security and energy commercialization

To carry out integrated core business in oil, gas, & renewables based on strong commercial principles

Vision

Values

Page 5

Pertamina’s Aspiration is To Be a Fortune 100 “Asian Energy Champion” by 2025 Aligned with national mission

Leadership in existing core Growth in new businesses Increase efficiency in PSO

“Asian Energy Champion” ‘Fortune 100’ position (Revenue ~$200b USD, EBITDA ~$40b USD)

Organization & Capability: Accountability and delivery; Employer of choice to attract and retain best talent

Project & Technology Center: Technology leader on CBM, Geothermal, EOR and deepwater; Strong project executor with delivery on time and within budget

Midstream gas Integrated gas champion with trans-Sumatera and trans-Jawa gas infra-structure

Refining Economically competitive refining capacity; Top quartile operating performance

Industrial fuels & lubes Maintain position of strength with over 50% market share, while sustaining profitability

Trading Optimize supply chain and improve profitability

E&P Leading Asian NOC: 2.2 mmboepd production with domestic leadership (50%) and int’l foot-print (~30% of own prodn.)

PetChem Largest petchem player in Indonesia with 35% market share, high margins through integration

Biofuels Serving mandate of 20% blend; upstream presence to reduce losses and supply risk

Power One of the largest Indonesian IPP player with ~ 3-5 GW capacity

Coal Leader in alternate technology (e.g. CBM, UCG) while maximizing coal production

Oil products Maintain position of strength with 60% market share; new service model through “New pasti pas” and NFR

Shipping Support own supply chain and also build third party service model

LPG Optimize supply chain and infrastructure

Page 6

Net Profit ( Billion USD )

In 2013, Pertamina was ranked 123 on the Fortune Global 500.

The only and the first time Indonesian company to be included in the Fortune Global 500 listing.

No. Company Revenues

($b)

1 Royal Dutch Shell 481,7

2 Wal-Mart Stores 469,2

3 Exxon Mobil 449,9

4 Sinopec Group 428,2

5 China National

Petroleum

408,6

…. …………….. …….

75 Petronas 94,3

…. ……………... …….

122 PERTAMINA 70,9

135 Unilever 66,0

144 ConocoPhillips 63,4

Total Revenue ( Billion USD )

FORTUNE 500 : Pertamina is Ranked 122 A reflection to be a global company

2013

67,30 70,92

38,87 48,65

2009 2011 2010 2012

71,10

1,72

2,40

2012 2011

3,06 2,76

2013

1,86

2010 2009

Page 7

0

50

100

150

200

250

0 5000 10000 15000 20000 25000 30000 35000 40000 45000

Energy consumption per capita

Million BTU per capita, 1970-2010

GDP per capita

Real $US PPP/Person

Historical range for energy consumption evolution

India

China

South Korea

Japan

Germany

France UK

Australia

USA

Thailand

Singapore

Indonesia 2030 projected

SOURCE: IEA; Global Insight; McKinsey

Indonesia’s Energy Overview Indonesia’s economy will demand more energy while entering a resource-intensive stage of development

Page 8

Agenda

2

3 Upstream Business

4

Pertamina’s Business Overview

Midstream Business

5 Downstream Business

1 Pertamina’s Energy Policy & Strategy

6 New & Renewable Energy Business

Page 9

Sales & Other Operating

Revenues EBITDA Net Income Geothermal Production

Crude Oil Production Gas Production Fuel Production Volume

(10 Main Products)

Fuel Product Sales

(10 Main Products)

2013

67.297 71.102

2012

70.924

47.559

2011

2010

2009

35.135

2013

6.657

5.592

2010

4.396

2009

3.541

2011

6.057

2012

2.405

2010

1.811

2009

1.547

2012

2.766

2011

2013

3.067

2010

67,1

2009

2013

67,5 68,8

2011

2012

68,1 67,7

2012

2013

71,8 70,0

2009

2010

70,6

2011

73,6

64,4

557,7

2010

2011

2009

2012

502,1 563,2

2013

532,9 558,6 249,9

239,0

2009

2011

2012

237,0

2013

2010

235,8 238,8

2011

58,5 59,8

2012

2010

2013

64,6 65,4

2009

64,9

Juta BBL Juta KL BSCF MMBO

Million USD Million Ton Million USD Million USD

Source: Pertamina’s Annual Report

Performance Highlight Pertamina securing the national interest while enhancing the corporate value

Page 10

Agenda

2

3 Upstream Business

4

Pertamina’s Business Overview

Midstream Business

5 Downstream Business

1 Pertamina’s Energy Policy & Strategy

5 New & Renewable Energy Business

Page 11

Source: McKinsey

Upstream Production Highlight In order to increase production, Pertamina focus on M&A, exploration, development, and also development of unconventional energy as an alternative to fulfill the gap between energy demand and conventional energy production

600

Total

~2,200

Int’l

expansion3

CBM &

Shale Gas

~200

Domestic

exploration

~150

Other

licenses2

~300

IP increase1

~50

Total Existing

fields

~900

EOR

~100

Existing &

own acreage

Exploration

~800

Pertamina

oil and gas

production,

2025

Kbpd

New exploration capex will be

~15 % of capex, relative to

~20% for Statoil and ~60% for

Petrobras

Page 12

Wilayah Kerja Migas Domestik – Eksplorasi & Produksi

Page 13

Wilayah Kerja Migas Domestik – Eksplorasi & Produksi

PT Pertamina Hulu Energi

Page 14

Wilayah Kerja Migas Domestik – Eksplorasi & Produksi

PT Pertamina EP Cepu PT Pertamina EP Cepu Alas Dara Kemuning

Page 15

MALAYSIA

VIETNAM

IRAQ

Block 10 & 11.2 Vietnam (10%)

Block SK-305 Malaysia (30%)

Under exploration Under development Under production International Asset 10 working areas

Block West Qurna 1 (10%)

ALGERIA

Block Menzel Lejmet (65%) El Merk Ourhoud Algeria

Expanding upstream operation globally Pertamina presence in around 8 countries….

Page 16

Wilayah Kerja Migas Luar Negeri – Eksplorasi & Produksi

PT Pertamina Hulu Energi Conocophillip Algeria

(Irak – West Qurna 1)

(PT Pertamina Internasional E&P

• Algeria & Irak are onshore production

• Blok Vietnam & SK-305 areOffshore;

vietnam under eksploration & SK 305

under ekspolartion/development.

Page 17

Agenda

2

3 Upstream Business

4

Pertamina’s Business Overview

Gas Business

5 Downstream Business

1 Pertamina’s Energy Policy & Strategy

6 New & Renewable Energy Business

Page 18

Daerah Defisit Gas

Daerah Surplus Gas PT Arun NGL Design Capacity : 12.5 MTPA No. of Train : 6 Trains

Arun LNG Receiving & Regas. Terminal Design Capacity : 3 MTPA (storage 12MTPA) Main Customer : PLN & Local Industries Akan diintegrasikan dengan Pipa Arun Belawan

FSRU Nusantara Regas Design Capacity : 3 MTPA Project Owner : PTM (60%),PGN (40%)

FSRU Jawa Tengah Design Capacity : 3 MTPA Project Owner : Pertamina (100%)

PT Badak NGL Design Capacity : 22.5 MTPA No. of Train : 8 Trains

Donggi Senoro LNG Plant Design Capacity : 2 MTPA Project Owner : Mitsubishi & KOGAS (59.9%), Pertamina (29%), Medco (11.1%)

Eksisting

Rencana

Pipa Gresik Semarang Project Owner : Pertamina (100%)

Semarang

Bulungan

Lhokseumawe

Jambi

Prabumulih

Palembang

Bekasi,

Cirebon,

Depok,

Bogor

Sidoarjo,

Surabaya

Tarakan

Bontang

Ogan Hilir

Subang

Blora

Existing

In progress

Rencana

JARGAS:

FSRU Cilacap Design Capacity : 1,5 MTPA Project Owner : Pertamina (100%)

Land Base Jabar Design Capacity : 2 MTPA Project Owner : Pertamina (100%)

Pipa Tegalgede – Muarakarang Project Owner : Pertamina (100%)

Gas Infrastructure Connecting supply and demand through Integrated Gas Infrastructure

Page 19

CNG Roadmap Another energy conversion program by developing CNG infrastructure for transport sector

CNG Infrastructure Development Plan

Pertamina has been assigned the Government to

develop and operate CNG stations to support the

conversion program

Conversion program will be implemented gradually in several

big cities in Indonesia.

Note: number of existing CNG station until 2014: 37 units

11197

857565

2019 2018 2017 2016 2015

unit cumulative

111 CNG

Station in

2019

Page 20

Development of City Gas for households

• Government (Ditjen Migas) has developed City Gas in 16 cities (a total of 57.857 households)

• City gas development is done in 2 cities (2009), 4 cities (2010), 5 cities (2011), 5 cities (2012)

• For the household sector , the Government will allocate 0.5 MMSCFD of gas in each city.

• The Government has appointed PT Pertamina (Persero) to operate city gas, currently in 3 cities (Jambi,

Prabumulih, and Sengkang)

• Initiation Jargas project can be used as a stimulus for further development of the pipeline in order to connect other areas not reached by the gas infrastructure (including to industrial areas)

Existing city gas

In progress city gas

Next city gas development

Lhokseumawe

Jambi

Prabumulih

Palembang

Ogan Hilir

Bekasi,

Cirebon,

Depok,

Bogor

Tarakan

Bontang

Bulungan

Sengkang

Sorong

Sidoarjo,

Surabaya

Buleleng Semarang

Blora

Subang

Page 21

LNG For Vehicle project in Java Expanding Integrated Gas Value Chain & Maximizing Downstream Opportunities

Project location and Onshore LNG Facilities issues

Onshore Storage Tank:

• Jakarta/Merak

• Semarang

• Tuban/Tanjung wangi

• Cilacap

LNG Refueling Station:

• Jakarta

• Cirebon

• Semarang

• Surabaya

Successful Pilot Project LNG Vehicle PT Badak NGL

Fuel conversion from

diesel to dual fuel

August 2012

Location : Pilot project at

PT Badak NGL, Bontang

East Kalimantan

LNG for Vehicle potential partner

LNG Refueling

Station*

LNG Mobile

Refueling Unit

LNG ISO Tank

Trailer

*) LNG Refueling Station: Storage tank, dispenser, facilities (cryogenic pump, piping facilities, etc

LNG demand profile

Gas Supply (x1000 metric ton)

2013 2014 2015 2016-2019 2020-2022

LNG for Vehicle Java

0.113 1.239 4.617 69.585 139.171

Page 22

LNG For Mining Expanding Integrated Gas Value Chain & Maximizing Downstream Opportunities

Trial Period: Nov 2013 – Mar 2014 – Deliver from LNG Badak by Trucks,

using Isotank 20 ft. – Maximum delivery 2 trucks 20 ft per

day. – LNG Loading/unloading at PT Badak – LNG Loading /unloading at KPC site to

trucks.

– Alternative 1: by LCT. • Deliver from Bontang by LCT est

400 isotanks (est for 50 mmsCFD) – Alternative 2: by mini LNG vessel +

Isotank – Need to have delivery trucks, isotanks

in KPC to accommodate the quantity

PILOT PROJECT : November 2013

Location : Pilot Project at PT Badak

NGL, Bontang East Kalimantan with

Indominco Mining.

Pilot Project LNG for Long Haul Vehicle at Indominco LNG supply scheme

LNG Storage

tank

modification

for LNG

fueling station

LNG Trailer

(head truck,

trailer, ISO

tank) with

capacity 20 m3

Delivery point

LNG for

hauling truck

LNG demand profile

Gas Supply (x1000 Metric Ton) *)

’13 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ‘22

0.08 112 451 566 615 669 727 789 857 931

*)LNG for Mining demand forecast profile including

Indominco and KPC (but it has not taking into account

other potential company such as Arutmin Indonesia,

Berau Coal, Adaro, and Antam).

Pilot Project LNG for Heavy Equipment at KPC

Fuel conversion from diesel to LNG fuel for

heavy duty vehicles in Indominco and KPC

(mining company) in East Kalimantan.

Page 23

Agenda

2

3 Upstream Business

4

Pertamina’s Business Overview

Midstream Business

5 Downstream Business

1 Pertamina’s Energy Policy & Strategy

6 New & Renewable Energy Business

Page 24

Refinery Unit II Dumai Capacity: 170 mbsd NCI: 7.5

Refinery Unit III Plaju Capacity: 135 mbsd NCI: 3.1

Refinery Unit VI Balongan Capacity: 135 mbsd NCI: 11.9

Refinery Unit IV Cilacap Capacity: 350 mbsd NCI: 3.98

Refinery Unit V Balikpapan Capacity: 260 mbsd NCI: 3.27

Refinery Unit VII Kasim Capacity: 10 mbsd NCI: 2.4

Refinery Development The objectives are to make the existing refineries competitive and expanding its capacity ..

New Grass Root Refinery in Tuban with partnership

scheme with Aramco

New Grass Root Refinery in Bontang

with PPP scheme (plan)

Page 25

Refining Development Master Plan (RDMP) Pertamina will transform its refining business by upgrading up to 5 major existing refineries…..

SOURCE: Pertamina

Crude flexibility

Sulfur handling limit from

0.4% to ~2% S

~2% S of crude flexibility

Crude quantity

From 820,000 BPD

to 1,610,000 BPD

x2 increased capacity

Product quality

EURO IV up from EURO II

Gasoline from 500 to <50 ppm S

Diesel from 3,500 to <50 ppm S

Complexity

8-9 NCI

Complexity improved

from 5 to 8-9

Dumai refinery

Balikpapan refinery

Plaju refinery

Balongan refinery

Cilacap refinery

Page 26

Grass Root Refinery (GRR) Building World-Class Refining Capacity for Indonesia’s Energy Needs….

SOURCE: Pertamina

Crude flexibility

Sulfur handling limit up to

~2% S

~2% S of crude flexibility

Crude quantity

Can be increased to 400,000

BPD

300,000 BPD

Product quality

EURO IV - V

Gasoline 10 - 50 ppm S

Diesel 10 - 50 ppm S

Complexity

10-12 NCI

World class Complexity

Bontang refinery

Tuban refinery

New Grass Root Refinery in Bontang

with PPP scheme (Government plan)

New Grass Root Refinery in Tuban B to B scheme with

Aramco

Page 27

Increasing demand leads infrastructures to be upgraded SABANG

KRUENG RAYA

LHOK SEUMAWE

INST. MEDAN GROUP

UP. II - DUMAI

SIAK

MEULABOH

SIBOLGA

TT. TLK. KABUNG

G. SITOLI

PULAU BAAI

JAMBI

PANJANG

UP. III - PLAJU

NATUNA GROUP

TT P. SAMBU

ISG

PENGAPON

CAMPLONG

MANGGIS

AMPENAN

BIMA BADAS REO

ENDE WAINGAPU

MAUMERE

L. TUKA

KALABAHI

ATAPUPU

DILI

KUPANG

UP. IV

CILACAP

TT. GEREM IJG

SIMEULUE SIANTAR KISARAN

TT TG. UBAN

KIJANG TEMBILAHAN

TANJUNG

PANDAN

PANGKAL

BALAM

LUBUK LINGGAU KERTAPATI

BATURAJA

LAHAT

CIKAMPEK

TEGAL

TT LOMANIS

TASIKMALAYA

PADALARANG

UJUNGBERUNG MAOS

CEPU

REWULU CILACAP TERAS

TUBAN

MALANG

TG. WANGI

BITUNG

SAUMLAKI

DOBO TUAL

FAK - FAK

NABIRE

MERAUKE

JAYAPURA

BIAK

SERUI

SORONG

BULA

MASOHI

LABUHA PONTIANAK SINTANG

SAMPIT PKL.BUN

PULANG PISAU

BANJARMASIN

BALIKPAPAN

SAMARINDA

TARAKAN

TOLI - TOLI

MOUTONG

PARIGI

POSO

GORONTALO

KOLONDALE

PALOPO

TAHUNA

KOTA BARU

PARE - PARE

LUWUK

KENDARI

KOLAKA

RAHA

BAU -BAU MAKASSAR

AMPANA

WAYAME

TOBELO

TERNATE

BANGGAI

SAUMLAKI

DOBO TUAL

SERUI

MANOKWARI UP. VII KASIM

BULA

NAMLEA

SANANA

KAIMANA

BALONGAN

TIMIKA

KETAPANG

BERAU

KSO Kabil

DONGGALA

Region I

Region II

Region III

Region IV Region V

Region VI

Region VII

Region VIII

Page 27

Additional Infrastructures needed towards 2025 …

3,6 mil KL

500 K Ton

# 32 Jetties

2,200 KL/hour

#31 vessels

Downstream – Marketing & Trading :

Page 28

Pertamina Operational Area Providing 5000+ gas station outlet to secure Indonesia fuel need…..

Source: Pertamina’s Annual Report

July 2014

Total Gas Stations

5,161

Downstream – Marketing & Trading :

Page 29

KUPANG

SIAK

MEULABOH

SIBOLGA

G. SITOLI

BENGKULU

JAMBI

PANJANG

P. NATUNA

P. BATAM

SEMARANG

SURABAYA

CAMPLONG

MENENG

AMPENAN BIMA

BADUNG

REO

ENDE

WAINGAPU

MAUMERE

L. TUKA

KALABAHI

ATAPUPU

DILI

SAUMLAKI

TUAL

FAK - FAK

MERAUKE

MANOKWARI

BULA

MASOHI

NAMLEA

PONTIANAK

SINTANG

SAMPIT CILIK RIWUT

PKL.BUN P. PISANG

BANJARMASIN

BALIKPAPAN

SAMARINDA

TARAKAN

TOLI - TOLI

MOUTONG

DONGGALA

PARIGI

POSO

GORONTALO

KOLONDALE

PALOPO

KOTA BARU

PARE - PARE

P. SAMBU

BONTANG

PLUMPANG

LUWUK

KENDARI

KOLEKA

RAHA

BAU -BAU

UJ. PANDANG

SUBUNG

BANGGAI

Pkl. Susu

Tj. Uban

Surabaya

Balikpapan

Ujung Pandang

Tj. Santan

TT. Manggis

Dumai

Jabung

Natuna

Palembang

Plaju

Medan

Padang

Bontang

Region I (SumUt, NAD, Riau, Kep. Riau dan

Sumbar)

Region VI (Sulawesi, Kalimantan excl West

Kalimantan, Maluku, Papua)

Region III (DKI, western of Java &

Pontianak)

Region IV (Central of Java & DIY)

Region V (East Java, Bali & Nusa Tenggara)

LPG Distribution Facilities LPG Depo/Terminal : 19

SPPBE/SPBE 3 kg : 323

SPPBE/SPBE/SPPEK 12&50 kg : 99

LPG 3 kg agents : 2639

LPG 12 & 50 kg agents : 608

Floating storage : 220,000 MT

Tanker VLGC (@44,000 MT) : 3

Tanker semi-ref. (@10,000 MT) : 6

Tanker pressurized (@1,800 MT) : 9

Skid tank : 938

Downstream – M&T : LPG Plants

Region II (Sumsel, Lampung,

Bengkulu, Jambi, Babel)

Page 30

Operational Area Marketing and Distribution in Indonesia Pertamina handles the most complex distribution in the world in delivering fuel products across the country…

: Refining Units

: Fuel Distribution Line

: Fuel Depot

: Transit Terminal

: Back Loading Terminal

BITUNG

SABANG

KRUENG RAYA

LHOK SEUMAWE

UP. I - PKL. BRANDAN

LAB. DELI

UP. II - DUMAI

SIAK

MEULABOH

SIBOLGA

G. SITOLI

TT. TLK. KABUNG

BENGKULU

JAMBI

PANJANG

UP. III - PLAJU

P. NATUNA

P. BATAM

SEMARANG

SURABAYA

CAMPLONG

MENENG

TT. TLK MANGGIS

AMPENAN BIMA

BADUNG

REO

ENDE

WAINGAPU

MAUMERE

L. TUKA

KALABAHI

ATAPUPU

DILI

KUPANG

SAUMLAKI

DOBO TUAL

FAK - FAK

NABIRE

MERAUKE

JAYAPURA

BIAK

SERUI

MANOKWARI

SORONG

BULA

MASOHI

NAMLEA

SANANA

PABUHA

UP. IV CILACAP

PONTIANAK

SINTANG

SAMPIT CILIK RIWUT

PKL.BUN P. PISANG

BANJARMASIN

BALIKPAPAN

SAMARINDA

TARAKAN

TOLI - TOLI

MOUTONG

DONGGALA

PARIGI

POSO

GORONTALO

KOLONDALE

PALOPO

TAHUNA

KOTA BARU

PARE - PARE

P. SAMBU

TT.

TG. GEREM/MERAK

BONTANG

PLUMPANG

UP.VI

BALONGAN

LUWUK

KENDARI

KOLEKA

RAHA

BAU -BAU

UJ. PANDANG

SUBUNG

TT. WAY AME

TOBELO

TERNATE

BANGGAI

KALBUT

IMPORT

IMPORT

TLK. SEMANGKA

5,161 unit Gas Stations, 603 APMS, 260 SPDN, 50 SPBN

113 Fuel Terminals, 3 Lube Oil Blending Plant

62 Aviations Depot

220 vessels (63 own, 157 chartered)

1,835 KM pipelines

: Ship to Ship

M&T UPDATE

Downstream – Marketing & Trading :

Page 31

Singapore

(SIN)

Hongkong

(HKG)

Bangkok (BKK)

Kuala

Lumpur

(KUL)

Jeddah

(JED)

Korea

Selatan

Bombay

Manila

Madina

Penang

Lubricant Aviation Fuel (AVTUR)

Bunker charging operation using a

third party by implementing the

concept of Conco Delco::

1. Singapura

2. Fujairah

3. Jepang

4. China

5. Jepang

Bunker

Sales Area 2008-2013

24 countries

Implementing the concept of Conco Delco, Pertamina

Aviation is at 10 international airports

Downstream – M&T : Expansion Lubricant, Aviation (Avtur), Bunker

Page 32

Agenda

2

3 Upstream Business

4

Pertamina’s Business Overview

Midstream Business

5 Downstream Business

1 Pertamina’s Energy Policy & Strategy

6 New & Renewable Energy Business

Page 33

New & Renewable Initiatives in line with Government interest in optimizing energy business, Pertamina enlarge the scope of activity by includeing new and renewable initiatives…

Indonesia’s Energy Mix 2025 **)

100% = 1,176 Mboe 100% = 2,785 Mboe

Indonesia’s Energy Mix 2011

*) New & Renewable Energy

**) Berdasarka Energy Mix ESDM “Primary Energy Mix 2025”

**) Source: MEMR Indonesia.

Environment Friendly Business to align with the Government Policy

• Geothermal

• Green Diesel

• Bioethanol

• Bioavtur

• Coal to

Ethanol

• Wind

• Waste to

Energy

• Hydro

PERTAMINA’S

RENEWABLE

ENERGY

PROJECTS

Oil

Gas

Coal

NRE *)

Oil

Gas Coal

NRE

Page 34

Thank You

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