Transcript IKARUS PETROLEUM INDUSTRIES

Ikarus Petroleum Industries
A Kuwait Based Investment Company…
Focusing on the energy and petrochemicals sectors
Paid-up share capital KD 75 million ($275m)
Listed on the Kuwait Stock Exchange 2008
Total Assets in excess of KD 182 million
…with a successful
track record
Total Assets
KD 181 mn
…Experienced Leadership
Nader Sultan
Chairman
Former CEO Kuwait Petroleum Corp.
Advisor Al Markaz Energy Fund
Director, Oxford Energy Seminar
Vice
Chairman
Former Minister for Oil, Government of Kuwait
Former Chairman of Kuwait Petroleum Corp.
Chairman & MD of NICBM.
37 Years experience
Dr Adel Al-Sabeeh
33Years experience
Suhail Abograis
CEO & Board
32 Years experience Member
Board member Kuwait National Petroleum Co.
Board Member Kuwait Gulf Petroleum Co.
Former MD (Planning & Fin) Kuwait Petroleum
…and the backing of a strong parent
National Industries Group.
Largest shareholder in Ikarus Petroleum
Listed on Kuwait Stock Exchange since 1984.
Market capitalization of over 327 Million KD
in
2011.
Total assets of over 1,500 Million KD in 2011.
Focused Investment Portfolio – 182 Million KD
As at 31/12/2011
Bringing Ikarus Expertise to our Investments
High Performance - Tasnee
Integrated complex, Jubail Saudi Arabia.
720,000 tones/year Polypropylene capacity
800,00 tones/year polyethylene
285,000 tones/year propylene & 200,000 tones/year ethylene
735,000 tones/year titanium Dioxide Capacity in its subsidiary ( Crystal) in Yanbu.
2011 Revenue 1,473 MM KD; Net Income 182 MM KD.
Market capitalization 1.4 billions KD.
…and ambitious growth - Sipchem
First private petrochemicals manufacturer in Saudi Arabia
Phase I (In production)
1 million tonnes/year Methanol
75,000 tones/year Butanediol
Phase II in production since 2010
460,000 tones/year Acetic Acid, and 330,000 tones/year
VAM,and Carbon Monoxide
Phase III (2013)
Olefins and derivatives.
Ikarus Saudi investments enjoy strong
industry fundamentals
Leading private sectors players in Saudi Arabia
World Scale
Low Cost Feedstock
Proven & Leading Technology
Market positioning- Partners with leading international
chemical majors
Good Logistics
Credible applicants for additional feedstock
Proven operational and project competence
Ikarus Key Differentiators
People
Deal Flow
• Drawn from the highest levels in the energy & petrochemicals industry
• Advisory board network in government, finance & industry
• Extensive affiliations & network across the MENA region
• Target deal size $50 -$100m
Focus
• Exclusive attention to energy & petrochemicals sectors
• Portfolio integration reduces risk and provides investment synergies
Performance
• Rapid growth in Shareholder Equity
• Expansion of existing holdings well advanced e.g. Sipchem & Tasnee
Financial Strength
• Backed by National Industries Group
• Assets provide solid security for further capital funding
MENA Energy Sector Trends
Role of Middle East in World Energy will grow
With half of the world’s reserves , MENA is set to supply
the bulk of the growth in oil output to 2035.
MENA will strengthen its position as world’s largest
exporter.
Energy investment in the region is estimated to be $525
billion in 2012 – 2016.
Petrochemicals capacity expected to double by 2018
Growing role for private sector participation
Source: Apicorp
$525bn Planned Investments in MENA
Energy 2012 - 2016
Source: Apicorp
$525bn Planned Investments in MENA Energy
2012 - 2016
Source: Apicorp
MENA leads other regions in crude
production & reserves
Source: EIA & Global Data
MENA: Central Role in Future Resource
Provision
2011 ~35% of global oil supply and 20% of natural gas.
Anticipated increased role due to resource base ~44% of
oil and at least a quarter of natural gas by 2030
MENA energy policy preferences
critical to global energy future
Major concerns that it’s not doing enough
Source: IEA/Global Data
MENA Expansion Targets
State Targets
Plans for 5.8 million b/d new
crude through 2012 (source:
state figures)
392 Bcm additional gas
(source: state figures)
1.9 million b/d NGLs (IEA
number)
6.3 million b/d+ of new
refining capacity (state
figures)
70 million tonnes+ of LNG
(state figures)
Source: IEA
Total Targeted Hydrocarbon investment
Saudi Arabia
Iran
Abu Dhabi
Kuwait
Iraq
Libya
Algeria
US$466 billion
(2008-12)
Qatar
Egypt
Oman
Syria
Tunisia
Bahrain
Yemen