Ikarus Petroleum Industries A Kuwait Based Investment Company
Ikarus Petroleum Industries
A Kuwait Based Investment Company… Focusing on the energy and petrochemicals sectors Paid-up share capital KD 75 million ($275 m) Listed on the Kuwait Stock Exchange 2008 Total Assets in excess of USD 750 million
…with a successful track record KDm Current Assets Current Liabilities Non Current Assets Total Equity
…Experienced Leadership Nader Sultan Chairman Former CEO Kuwait Petroleum Corp. Advisor Al Markaz Energy Fund Director, Oxford Energy Seminar Dr Adel Al. Sabeeh 33 Years experience Vice Chairman Former Minister for Oil, Government of Kuwait Former Chairman of Kuwait Petroleum Corp. Chairman & MD of NICBM. Suhail Abograis CEO & Board Member Board member Kuwait National Petroleum Co. Board Member Kuwait Gulf Petroleum Co. Former MD (Planning & Fin) Kuwait Petroleum 37 Years experience 32 Years experience
…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 $ 7 billion. Total assets of over $ 5 billion
Focused Investment Portfolio $750 m* * As at 31 st December 2007
Bringing Ikarus Expertise to our Investments
High Performance - Tasnee 500, 000 tonnes/year Polypropylene capacity Integrated complex, Jubail Saudi Arabia. 2007 Revenue $1. 8 bn; Net Income $150 m Market capitalization $5. 4 billion.
…and ambitious growth Sipchemmanufacturer in First private petrochemicals Saudi Arabia 10 th largest company by market cap in the Middle East. Phase I (In production) 1 million tonnes/year Methanol 75, 000 tonnes/year Butanediol Phase II (2009) Acetic Acid, Vinyl Acetate Monomer, Carbon Monoxide
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 -$100 m 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 will meet 2/3 of increase in global oil demand. • MENA will strengthen its position as world’s largest exporter. • Energy investment in the region $490 billion in 2008 – 2012 (Apicorp estimate) • Petrochemicals capacity expected to double by 2018 • Growing role for private sector participation Source: Apicorp
$490 bn Planned Investments in MENA Energy 2008 - 2012 Source: Apicorp
$490 bn Planned Investments in MENA Energy 2008 - 2012 Source: Apicorp
MENA: Central Role in Future Resource Provision • 2008 ~36% of global oil supply and 17% 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
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 )
- Slides: 16