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PETRONAS ANNUAL REPORT 2013 Ourour Presence Presence PETROLIAM NASIONAL BERHAD PETRONAS (Company No. 20076-K) Registered Oce: Tower 1, PETRONAS Twin Towers, Kuala Lumpur City Centre, 50088 Kuala Lumpur Malaysia Telephone : +603 2051 5000 Fax : +603 2026 5050 Annual Report 2013 Annual Report www.petronas.com reimagining energy energy reimagining ANNUAL REPORT 2013 reimagining energy TM TM Our Business Our Business Liquefied Natural Gas (LNG) U Export Sector Regasification Terminal U Power Sector U Industrial Sector Natural Gas Liquefaction Processed Gas/Peninsular Gas Utilisation (PGU) System U Residential and Commercial Sectors Liquefied Petroleum Gas (LPG) Exploration, Processing Development and UÊ `ÕÃÌÀ>Ê-iVÌÀÊÊ Ì Þii]Ê Production Ê iÌ >]Ê/ ]Ê*ÞiÌ Þii] Ê *À«Þii]Ê1Ài>Ê>`Ê6 Crude Oil Petrochemical Plant UÊÊ/À>ëÀÌ>ÌÊ-iVÌÀÊÊ Ê iÃi]Ê>Ãi]ÊiÌÊÕiÊ and Lubricants Refining Petroleum Products 2 PETRONAS ANNUAL REPORT 2013 OurOur Presence Presence Exploration & Production (E&P) Downstream* Africa Africa ŔAlgeria – Development Ŕ Botswana – Oil Business Ŕ Cameroon – Development Ŕ Burundi – Oil Business Ŕ Chad – Development & Production Ŕ Democratic Republic of the Congo – Oil Business ŔEgypt – Exploration, Development & Production Ŕ Gabon – Oil Business Ŕ Mauritania – Exploration, Development & Production ŔGhana – Oil Business ŔMozambique – Exploration Ŕ Guinea Bissau – Oil Business ŔRepublic of South Sudan – Exploration, Development & Ŕ Kenya – Oil Business Production Ŕ Lesotho – Oil Business ŔRepublic of Sudan – Exploration, Development & Ŕ Malawi – Oil Business Production ŔMauritius – Oil Business Ŕ Mozambique – Oil Business Asia Pacific Ŕ Namibia – Oil Business ŔAustralia – Exploration, Development & Production Ŕ Réunion – Oil Business Ŕ Brunei – Exploration ŔRwanda – Oil Business ŔIndonesia – Exploration, Development & Production Ŕ Swaziland – Oil Business ŔMalaysia – Exploration, Development & Production Ŕ South Africa – Lubricants & Oil Business Ŕ Malaysia-Thailand Joint Development Area – Development Ŕ Republic of South Sudan – Lubricants & Oil Business & Production ŔRepublic of Sudan – Lubricants & Oil Business ŔMyanmar – Exploration, Development & Production Ŕ Tanzania – Oil Business Ŕ Vietnam – Exploration, Development & Production ŔZambia – Oil Business Ŕ Zimbabwe – Oil Business Central Asia ŔTurkmenistan – Exploration, Development & Production Asia Pacific Ŕ Uzbekistan – Production Ŕ China – Lubricants & Petrochemical Business Ŕ India – Lubricants & Petrochemical Business Latin America ŔIndonesia – Lubricants, Oil & Petrochemical Businesses ŔSuriname – Exploration ŔMalaysia – Lubricants, Oil & Petrochemical Businesses ŔPhilippines – Lubricants, Oil & Petrochemical Businesses Middle East ŔThailand – Lubricants, Oil & Petrochemical Businesses ŔIraq – Development & Production ŔVietnam – Lubricants, Oil & Petrochemical Businesses North America Europe ŔCanada – Development & Production ŔAustria – Lubricants Ŕ Belgium – Lubricants Ŕ Denmark – Lubricants Ŕ France – Lubricants Ŕ Germany – Lubricants ŔItaly – Lubricants Gas & Power Ŕ Netherlands – Lubricants Ŕ Poland – Lubricants Africa Ŕ Portugal – Lubricants ŔEgypt – LNG Ŕ Russia – Lubricants Ŕ Spain – Lubricants Asia Pacific ŔTurkey – Lubricants Ŕ Australia – LNG & Infrastructure Ŕ United Kingdom – Lubricants & Oil Business Ŕ Indonesia – Infrastructure Ŕ Malaysia – LNG, Infrastructure, Utilities & Power, Trading Latin America Ŕ Singapore – Power ŔArgentina – Lubricants Ŕ Thailand – Infrastructure Ŕ Brazil – Lubricants Central Asia Middle East ŔUzbekistan – Gas-to-Liquid ŔSaudi Arabia – Oil Business Ŕ UAE – Oil Business Europe ŔIreland – Infrastructure North America Ŕ United Kingdom – Infrastructure, Utilities & Trading ŔUnited States of America – Lubricants North America Ŕ Canada – LNG E&P Gas & Power Downstream *Includes Engen subsidiaries and marketing and trading offices. ©2013*Includes PETROLIAM Engen subsidiaries NASIONAL and BERHAD marketing (PETRONAS) and trading oces. All©2013 rights PETROLIAM reserved. No NASIONAL part of this BERHAD document (PETRONAS) may be reproduced, stored in a retrieval system or transmitted in any form or by any means (electronic, mechanical, photocopying,All rights reserved. recording No part or of otherwise) this document without may the be permission reproduced, of thestored copyright in a retrieval owner. system PETRONAS or transmitted makes no in representation any form or by or any warranty, means (electronic,whether expressed mechanical, or implied,photocopying, as to the recording accuracy or or otherwise) completeness without of thethe factspermission presented. of the PETRONAS copyright disclaimsowner. PETRONAS responsibility makes from no any representation liability arising or outwarranty, of reliance whether on theexpressed contents or of thisimplied, publication. as to the accuracy or completeness of the facts presented. PETRONAS disclaims responsibility from any liability arising out of reliance on the contents of PETRONAS ANNUAL REPORT 2013 this publication. 3 Our Presence Exploration & Production (E&P) Downstream* Africa Africa ŔAlgeria – Development Ŕ Botswana – Oil Business Ŕ Cameroon – Development Ŕ Burundi – Oil Business Ŕ Chad – Development & Production Ŕ Democratic Republic of the Congo – Oil Business ŔEgypt – Exploration, Development & Production Ŕ Gabon – Oil Business Ŕ Mauritania – Exploration, Development & Production ŔGhana – Oil Business ŔMozambique – Exploration Ŕ Guinea Bissau – Oil Business ŔRepublic of South Sudan – Exploration, Development & Ŕ Kenya – Oil Business Production Ŕ Lesotho – Oil Business ŔRepublic of Sudan – Exploration, Development & Ŕ Malawi – Oil Business Production ŔMauritius – Oil Business Ŕ Mozambique – Oil Business Asia Pacific Ŕ Namibia – Oil Business ŔAustralia – Exploration, Development & Production Ŕ Réunion – Oil Business Ŕ Brunei – Exploration ŔRwanda – Oil Business ŔIndonesia – Exploration, Development & Production Ŕ Swaziland – Oil Business ŔMalaysia – Exploration, Development & Production Ŕ South Africa – Lubricants & Oil Business Ŕ Malaysia-Thailand Joint Development Area – Development Ŕ Republic of South Sudan – Lubricants & Oil Business & Production ŔRepublic of Sudan – Lubricants & Oil Business ŔMyanmar – Exploration, Development & Production Ŕ Tanzania – Oil Business Ŕ Vietnam – Exploration, Development & Production ŔZambia – Oil Business Ŕ Zimbabwe – Oil Business Central Asia ŔTurkmenistan – Exploration, Development & Production Asia Pacific Ŕ Uzbekistan – Production Ŕ China – Lubricants & Petrochemical Business Ŕ India – Lubricants & Petrochemical Business Latin America ŔIndonesia – Lubricants, Oil & Petrochemical Businesses ŔSuriname – Exploration ŔMalaysia – Lubricants, Oil & Petrochemical Businesses ŔPhilippines – Lubricants, Oil & Petrochemical Businesses Middle East ŔThailand – Lubricants, Oil & Petrochemical Businesses ŔIraq – Development & Production ŔVietnam – Lubricants, Oil & Petrochemical Businesses North America Europe ŔCanada – Development & Production ŔAustria – Lubricants Ŕ Belgium – Lubricants Ŕ Denmark – Lubricants Ŕ France – Lubricants Ŕ Germany – Lubricants ŔItaly – Lubricants Gas & Power Ŕ Netherlands – Lubricants Ŕ Poland – Lubricants Africa Ŕ Portugal – Lubricants ŔEgypt – LNG Ŕ Russia – Lubricants Ŕ Spain – Lubricants Asia Pacific ŔTurkey – Lubricants Ŕ Australia – LNG & Infrastructure Ŕ United Kingdom – Lubricants & Oil Business Ŕ Indonesia – Infrastructure Ŕ Malaysia – LNG, Infrastructure, Utilities & Power, Trading Latin America Ŕ Singapore – Power ŔArgentina – Lubricants Ŕ Thailand – Infrastructure Ŕ Brazil – Lubricants Central Asia Middle East ŔUzbekistan – Gas-to-Liquid ŔSaudi Arabia – Oil Business Ŕ UAE – Oil Business Europe ŔIreland – Infrastructure North America Ŕ United Kingdom – Infrastructure, Utilities & Trading ŔUnited States of America – Lubricants North America Ŕ Canada – LNG E&P Gas & Power Downstream *Includes Engen subsidiaries and marketing and trading oces. ©2013 PETROLIAM NASIONAL BERHAD (PETRONAS) All rights reserved. No part of this document may be reproduced, stored in a retrieval system or transmitted in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) without the permission of the copyright owner. PETRONAS makes no representation or warranty, whether expressed or implied, as to the accuracy or completeness of the facts presented. PETRONAS disclaims responsibility from any liability arising out of reliance on the contents of PETRONAS ANNUAL REPORT 2013 this publication. 3 4 Table of Contents Our Business Our Presence 6 Corporate Statements 7 Company Profile 10 Board of Directors 16 Executive Committee 17 Management Committee 18 Vice Presidents 20 President & Group CEO Message 24 Statement of Corporate Governance 29 Statement of Anti-Corruption 30 Statement on Internal Control 34 Financial Results 44 EXploration & PRODUCTION 54 GAS & POWER 60 DOWNSTREAM 70 Technology & Engineering 76 Our People 82 Health, Safety & Environment (HSE) 87 Awards & Recognitions 90 Corporate Social Responsibility 99 Main Events 106 Glossary 111 Financial Statements PETRONAS ANNUAL REPORT 2013 5 Vision TO BE A LEADING OIL AND GAS MULTINATIONAL OF CHOICE Mission Shared Values We are a business entity Loyalty Loyal to the nation and corporation Petroleum is our core business Integrity Our primary responsibility is to develop and Honest and upright add value to this national resource Professionalism Our objective is to contribute to the well-being Committed, innovative and proactive and of the people and the nation always striving for excellence Cohesiveness United in purpose
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