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3
PETROLEO PRICES
Since 2004, Oil prices increase Future scenario with upward trend
Fuente: World Energy Outlook 2006
4
PRIMARY DEMAND OF ENERGY
Oil is and will be the primary source of energy
It implies an increasing necessity to invest in all value chain
Fuente: World Energy Outlook 2006
40% increase in 20 years
45% increase in 20 years
5
GROWTH OF MARGINS
E&D costs (Exploration and Development) of fields: 7 to 10 $/bl conventional fields and of 10 - 15 $/bl present fields. .
Maintenance of oil prices in the range of 70 $/bl (minimum Value)
Consequences: • Higher margin in Oil to undertake new projects
• Development of now profitable fields
• Increase in EPC market
• Increasing margin for Contractors
70 – 80 $/bl
7 - 10 $/bl
20 – 30 $/bl
10 - 15 $/bl
E&D Cost E&D Cost
Past Present & Future
Op., Cost
Op., Cost
¡ Increasing
Margin !57usd/bl
9usd/bl
6
ACCUMULATE INVERSMENT 2005-2030
High prices mean an outstanding increase of investments175,000 M$/year in Oil investmentsOnly in Spain: 4 refineries under development (investment above 5,000 M€)122500 M$
E&D Refining
26250M$ 26250 M$
Others
$470MM
$160MM
$175MM$25 M
M
Fuente: World Energy Outlook 2006
$175 000M (In 2005 USD)
8
OIL CHAIN OF VALUE
Production
Refining Petrochemicals
Derivates
Alternativefuel
Transportation
Other sources
Gas
***
Oil
9
PETROCHEMICAL: From the factories to consumers
PET/CHDM
BENZENE
PROPYLENEPHENOL/ACETONE
POLYCARBONATES
CUMENE
POLYPROPYLENE
REFINING
(Paraxileno)
PROPYLENE
BACK
PTA/DMT
11
UPSTREAM
CEPSA. RHOURDE EL KHROUF (ALGERIA)
Gas, Water and Oil Separation plant
REPSOL: BLOQUE 16 (ECUADOR)
Extension of Oil production
12
REFINERIES
Spain New Refineries in Bilbao and CartagenaTurnkey Projects and Engineering services Works for the next 3 years
13
PETROCHEIMICAL
TA/PTA PLANT INTERQUISA
Spain and Canada
Turnkey Contract of PTA plant (raw material for PET production)
14
DERIVADOS
DAP Ma’aden( associate to projects of gas and ammonia)The biggest DAP plant of the world (3 MM tpd)Own Technology (INCRO)Located in Al Jubail –Arabia SaudiTurnkey of 550 MM $
15
ALTERNATIVES FUELS
Investments will grow outstandingly in alternative liquid fuel sourcesACS is also present in these alternative fuels
• Agro Fuels• Gas to liquids
• Heavy OilsFuente: World Energy Outlook 2006
27
ACS CAPABILITIES
Engineering Construction Operation & Maintenace
Extent of services in all Value chain
More than 40 years of experienceIntegral contractor (Engineering, Procurement and Construction, Operation and Maintenance)Excellent positioning in the Turnkey MarketProject Integral management International experienceHome engineering capabilities of international prestigeSolid client portfolio - National and internationalFinancial strength to develop investments
Promotion
28
CAPABILITIES FOR EXECUTION OF ALL ACTIVITIES
C
Engineering ProcurementProcess
Detailed Eng.Equipments
Materias HAZOP/Risks
licensesConstructibility
ContractContractPlant Plant
CompletionCompletionConstruction
Supervision
Construcción and Start up
LogisticsSpare parts
Inspection
ProcurementExpedition
BasicEngineering
Detailed Engeneering Construction
& Start-upProcurement
Health, Safety, EnvironmentalPlanning and Control Costs QA/QC
E P
PlantCompletion
29
MARKET DEMAND
EPC Contractor (Turnkey)Bigger Contracts
• Typical contract rise from 100 MM$ to over 500 MM€
Restricted to general contractors with high technical capabilities and financial soundnessUnprecedented increase in demand
• Less competition • Ability to select contracts based on a suitable risk analysis
31
INTERNATIONAL PRESENCE
• Europe: Spain, Portugal, Greece• Latin America: Brazil, Argentina, Peru, Costa Rica, Mexico, Ecuador, Colombia, Chile• North America: Canada, EEUU• Africa: Algeria, Tunisia, Morocco, Tanzania, Eritrea, Egypt• Middle East: Saudi Arabia• Asia: China, Vietnam
33
DEISOPENTANIZER 46.000 tpy isopentane
BENZENE REDUCTION 470.000 MT/Y
MEROX UNIT 42.000 kg/hr.
GASOLINE ALKYLATION UNIT160.000 tpy
PLATFORMING RZ-100450,000 tpy
More than 400 refineries and Petrochemical Plants
PROYECTO MINA
35
MINATITLAN – PEMEX - MEXICO
Engineering and Design• Above 1 Million of hours• Design in 3D (PDMS)• Engineering in Madrid, Mexico,
Venezuela
36
MINATITLAN – PEMEX - MEXICO
Procurement• Procurement in Mexico, Europe, EEUU and Asia
• 400 Purchase orders
• 750 pieces of process equipment
• 50.000 tons transported via marine and air shipping
• 1600 inspections developed
41
ACS: A constant guarantee of growghing
• ACS is in all the oil chain (overlapping cycles)
• ACS provides all services from engineering to maintenance
• ACS is diversified geographically
• Diversification of clients
0
10
20
30
40
50
60
2003 2004 2005 2006 2007
RefinoUpstreamOffshoreTotal
%
42
…………………….and profitable
High entry barriers • Technological (experience)• Client trust• Financial soundness for Major Projects
Sustainable Profitability
Privileged position through presence in all value chain• New contract schemes• New technologies and trends