Post on 06-Nov-2018
transcript
ORGANIZATIONAL STRUCTURE
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EBX FREE FLOAT
OSX SERVIÇOS OSX LEASING
Integrated offshore E&P equipment and services provider
77.64% 22.36%
Holding
90% 100% 100%
10%
HYUNDAI
Shipbuilding Unit Leasing Services
Controlling Shareholder & Management*
* Represented through Centennial Asset Mining Fund LLC. , Eike Batista (indirectly owns 100% of Centennial Asset Mining LLC), Board of Directors and Board of Executive Officers
OSX PILLARS
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Attractive Market Conditions in Brazil
Local Content Requirement
Demand from OGX
Strategic Partnership with Hyundai
Incentivized and Experienced Management Team
More than 30 years experience, on average, in the E&P sector US$ 30bn in projects and more than 50,000 people under management
Approximately 70% of E&P industry Capex supplied locally Key for Brazil’s long-term social and economic development (285,000 jobs in 5
years)
Priority Rights between OSX and OGX
Partnership with the largest shipbuilder in the world State-of-the-art technology and transfer of know-how Construction of the largest shipyard of the America's in the Açu Superport
Industrial District
Expected oil and gas resources to increase to 100 Bboe, with announced investments of US$ 140bn plus
Underserved domestic equipment & services market
Training (ITN)
ITN –Institute of Naval Technology , partnerships with technical institutions and universities
Absorption and application of Korean technology Qualification of 3,100 technical personnel until 2013
ORGANOGRAM: EXPERIENCED & MOTIVATED TEAM
Paulo Ricardo (28) Exploration Campos & ES
Roberto Toledo (31) E&P Laboratory
Celso Martins (34) Onshore Basin
Carlos Bellot (34) CEO
Environment, Health and Safety
Heraldo Albuquerque (27)
Danilo Baptista (35) Shipyard Operations Officer
Ricardo Abi-Ramia (24) Operations, Engineering,
Leasing and Developing Officer
Luciano Porto (21) Chief Legal Officer
João Borges (20) Chief Financial Officer and Investor Relations Officer
xxxxx
Ivo Dworschak (35) Shipbuilding Unit
Management Planning Heleno Barbosa (33)
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Comunicação Roberta Brandão
Commercial Department Rodrigo Lopes (25)
Recursos Humanos Monica Barbosa
Anna Kac (34) Engineering
Arnaldo Arcadier (34) Construction, Assembly and
Integration
Contratos e Afiliadas
Adilson Araújo (29) Contracts & Affiliates
Francisco Crisostomo (35) Operation & Production
Eónio Rocha (14) Logistics
Heleno Barbosa (33) New Projects/Well
Intervention
Léo Zimmermann (34) ITN Training/Partners/ Research
More than 50 engineers with an average of 26 years experience
Total OSX employees: approx. 900 Total employees involved in the
operations: 2,750
Regina Ozorio (31) New Ventures
(xx) Years of experience
FPSO
WHP
Drillship
PLSV
Tanker
TLWP
Floating, Production, Storage and Offloading Unit
Fixed drilling & production platforms ( Wellhead Platform)
Drilling units heavily demanded for ultra-deep water’s
Maritime Transportation Unit
Tension-Leg Wellhead Platform Pipe-Laying Support Vessel
PRODUCT PORTFOLIO
6 Image courtesy of Hyundai Heavy Industries Image courtesy of IHC Offshore&Marine B.V.
Image courtesy of Hyundai Heavy Industries Image courtesy of Hyundai Heavy Industries
Image courtesy of Hyundai Heavy Industries
FPSO OSX-1 : Guanabara Bay, RJ, Brazil
UCN Açu designed and equipped to meet diverse orders
CURRENT ORDER BOOK
7 * Delivery at the shipyard (ex-installation) 1- OSX with a 49% stake of total contract
CLIENT UNIT CAPACITYESTIMATED PRICE
(US$ MM)DELIVERY*
CONSTRUCTION
LOCATION
OSX LEASING
& SERVICES
OGX FPSO OSX-1 80K bopd 610 OK SAMSUNG, KOREA
OGX FPSO OSX-2 100K bopd 775 3Q13 KEPPEL, SINGAPORE
OGX FPSO OSX-3 100K bopd 800 3Q13 JURONG, SINGAPORE
OGX FPSO OSX-4 OSX, BRAZIL
OGX FPSO OSX-5 OSX, BRAZIL
OGX WHP-1 30 wells 400-450 2Q14 TECHINT, BRAZIL
OGX WHP-2 30 wells 400-450 4Q13 TECHINT, BRAZIL
OGX WHP-3 OSX, BRAZIL
OGX WHP-4 OSX, BRAZIL
SAPURA PLSV N/A 263 4Q14 OSX, BRAZIL
KINGFISH 11 MRs N/A 732 2Q15 - 4Q17 OSX, BRAZIL
PETROBRAS 2 FPSOs 150K bopd 900¹ 3Q16 - 3Q17 OSX, BRAZIL
Expecting Technical Specifications from Client
Expecting Technical Specifications from Client
Expecting Technical Specifications from Client
Expecting Technical Specifications from Client
P
P
P
P
P
P
P
P
P
Petrobras FPSOs demand up to 2020
Source: PNG Petrobras 2012-16
Legend:
Contracted Units
Planned Units
Leased Units*
Baúna e Piracaba
(Cid. Itajaí)
Roncador III (P-55)
Iracema Sul (Cid.
Mangaratiba)
Iracema Norte (Z1)
Franco NW (P-75)
Franco NE (P-77)
Franco Leste (CO7)
Maromba (ND)
Espadarte III
(ND)
Baleia Azul (Cidade
Anchieta)
Papa-Terra (P-63)
Papa-Terra (P-61)
Piloto Sapinhoá (Cid. SP)
Piloto Lula NE (Cid. Paraty
Sapinhoá Norte
(cid. Ilhabela)
Roncador IV (P-62)
Norte Pq. Baleias (P-58)
Lula Norte (P-69)
Carioca 1 (Z2)
Franco (P-74)
Lula Sul (P-68)
Lula Central (P-67)
Lula Alto (P-66)
Iara NW (P-72)
Aruanã (ND)
NE Tupi (P-76)
Iara Horst (P-71)
Carimbé (ND)
Lula Extremo Sul
(P-70)
Carcará (P-73)
Júpiter (ND)
Sul de Guará (CO6)
Franco SW (CO5)
Espadarte I (ND)
Sul Pq. Das Baleias (ND)
Bonito (ND)
Entorno de Iara (CO8)
Florim (CO9)
Under Evaluation
Bidding
OGX – Orders and Potential Demand 2020
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Cenário OGX - Nova previsão
FPSO 1 2 1 2 1 1 2 1 1 1
WHP 2 2 2 1 2 1 1 1
TLWP 1
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Contracted
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Main Bulk Materials for OSX Portfolio
Structure steel plate profile steel beam bulb bar
Piping pipes and fittings ( carbon steel, stainless/ Cu-Ni / superduplex )
Valves manual and actuated
E&I
cable tray (fibber / carbon steel / stainless eletric and instrument cable
miscellaneous
paints & solvents
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COMPLEXO INDUSTRIAL DO AÇU
A New Cluster for the Offshore and Heavy Industry
AÇU INDUSTRIAL COMPLEX
90 km² Industrial Complex (1.5 x larger than Manhattan Island) or = Copacabana/Leme Area)
UCN AÇU: THE LARGEST SHIPYARD OF THE AMERICAS
Partnership with Hyundai Heavy Industries
Steel assembly capacity of 220,000 ton/year
Up to 3,525 m water front (2,400 m in first phase)
Beginning of construction in July 2011
End of construction in December.2014
Commercial partnership with Hyundai
Capacity to integrate up to 11 FPSOs and 8 WHPs simultaneously
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Main entrance
Office buildings
Production workshops (manufacturing of blocks, structures, accessories and pipes)
Industrial facilities
Module assembly area
Jacket pre-assembly area
Jacket assembly area
Dry Dock
Quay
Quay Expansion
UCN AÇU: IMPLEMENTATION STATUS
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LOCAL CONTENT: RATIONALE AND EVOLUTION Represents a social & economic development strategy Has increased significantly in recent ANP bidding rounds
Notable Companies Committed to Local
Content
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Local Content Requirement
■ Definition: minimum percentage of equipment and services contracted by the operator that must be supplied by local companies
■ Average of 70% in the production development phase
■ Component of the bid for acquisition of E&P Blocks
■ Certification of each item by inspection companies (guidelines set forth by Federal Government – MME)
■ Subject to severe penalties
Local Content Rationale
■ Boost local oil & gas equipment and services industry
■ Incentivize local technology development
■ Substantially increase employment and income
Local Content Evolution
Source: ANP Note (1) 8th ANP bidding round auction is still under discussion
25%
42%
28%
39%
79% 86%
74% 69%
79%
27%
48%
40%
54%
86% 81%
77%
84%
1st 2nd 3rd 4th 5th 6th 7th 8th (1) 9th 10th
Exploration Phase
Development Phase
Objective
■ Increase the participation of the local industry in the oil and gas sector in a competitive
basis
■ Increase the local capacity and technology development
■ Increase quantitative and qualitative qualification of local labor force
■ Increase generation of local employment and money income
Application
■ Concession Contracts from ANP (National Oil Agency) from 7th and following Rounds, for
exploration and pre production phases and for contracts signed after 11th September
2008.
1- OBJECTIVE AND APPLICATION
2- HISTORY
LOCAL CONTENT IS REQUIRED ON ALL ROUNDS
1999 2000 2000 2000 2000 2000
1999 2000 2001 2002
2000
2003 2004 2005 2006 2007 2008
LC CERTIFICATION
5th and 6th Rounds
Requirement of minimum LC. End of incentives.
7th to 10th Round LC offer limited between minimum and maximum %. Certification of local content for 3rd party. Adoption of the ANP calculation tool as the measurement tool.
1st to 4th Round Free LC.
Presence of incentives.
Local Content measurement
■ ANP calculation tool specially developed for the LC measurement:
- LC of goods is calculated excluding the value of imported parts
- LC of services is calculated taking into account salaries and additional taxes of
Brazilian citizens and foreign people with Brazilian permanent visa
Rules for the Operator
■ Companies who have Concession Contracts with ANP need to report achieved values for
each one of the items in their contracts on a quarterly basis
■ The obligations of the Dealers as to local procurement of goods and services is proven to
ANP by the presentation of certificates of Local Content.
■ The Concessionaires should ask their suppliers of goods and services the certifications for
their products.
■ For unrealized percentage, ANP will apply penalties in accordance with the established on
the Concession Contract.
3- CONTRACTUAL REQUIREMENTS
Rules for Certification Companies
■ Measurement is made by Certification Companies previously approved by ANP
■ Certification Companies issue Local Content Certificates with the values found
■ Certification Companies are audited by ANP
3- CONTRACTUAL REQUIREMENTS