© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
SBM Brasil, 2015
© SBM Offshore 2014. All rights reserved. www.sbmoffshore.com
SBM Brasil Presentation
2015
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 3 11/16/2015
Disclaimer
Some of the statements contained
in this presentation that are not
historical facts are statements of
future expectations and other
forward-looking statements based
on management’s current views and
assumptions and involve known and
unknown risks and uncertainties that
could cause actual results,
performance, or events to differ
materially from those in such
statements. Such forward-looking
statements are subject to various
risks and uncertainties, which may
cause actual results and
performance of the Company’s
business to differ materially and
adversely from the forward-looking
statements.
Should one or more of these risks or
uncertainties materialize, or should
underlying assumptions prove
incorrect, actual results may vary
materially from those described in
this presentation as anticipated,
believed, or expected. SBM
Offshore NV does not intend, and
does not assume any obligation, to
update any industry information or
forward-looking statements set forth
in this presentation to reflect
subsequent events or
circumstances.
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 4 11/16/2015
From: Focus on top-end segment
• FPSOs • Turret Moorings • Turnkey Sale or Lease & Operate
TECHNOLOGY OPERATIONS FINANCE & LEASE PROJECT EXECUTION
To: Leveraging core competencies
• Floating LNG (FLNG) • Semisubmersible & TLP production units • Asset optimisation • Terminals & Offshore Installation
SBM Vision To be the trusted partner of choice in the development of complete offshore floating solutions for the world’s energy companies.
Our Business
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 5 11/16/2015
Product Life Extension Leader in FPSO relocation
World class after sales
Operations 240+ years of FPSO experience
99%+ production uptime Largest international FPSO fleet
Installation Dedicated fleet Unparalleled experience Extensive project capability
Construction Strategic partnerships Unrivalled project experience
Procurement Integrated supply chain Global efficiencies Local sourcing
Engineering 55 years of industry firsts Leading edge technology
SAFE
Delivery Along Full Product Lifecycle
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 6 11/16/2015
SBM Lease Fleet Portfolio
CANADA End date of Lease Excluding extension options
MOPU – Deep Panuke Up to 2021
USA End date of Lease Excluding extension options
Semi-Sub –Thunder Hawk Up to 2025 FPSO – Turritela Up to 2025
BRAZIL End date of Lease Excluding extension options
FPSO – Marlim Sul (demob) Up to 2015
FPSO – Espírito Santo Up to 2024
FPSO – Capixaba Up to 2022
FPSO – Cidade de Anchieta Up to 2030
FPSO – Cidade de Paraty Up to 2033
FPSO – Cidade de Ilhabela Up to 2034 FPSO – Cidade de Maricá Up to 2035
FPSO – Cidade de Squarema Up to 2035 FPSO – Frade Turn-key
FPSO – P-57 Turn-key
FPSO – OSX-2 Turn-key
MYANMAR End date of Lease Excluding extension options
FSO – Yetagun Up to 2018
MALAYSIA End date of Lease Excluding extension options
FPSO – Kikeh Up to 2022
EQUATORIAL GUINEA End date of Lease Excluding extension options
FPSO – Aseng Up to 2026
CONGO End date of Lease Excluding extension options
LPG – Nkossa II Up to 2018
ANGOLA End date of Lease Excluding extension options
FPSO – Mondo Up to 2022
FPSO – Saxi Batuque Up to 2023
FPSO – N’Goma Up tp 2026
Under Construction Lease in Operation Turn-Key (Brazil only)
FPSO – Falcon
FPSO – Brasil
Turn-key projects (Brazil only)
14 FPSOs, 2 FSOs, 1 Semi-Sub, 1 MOPU – 248 years of operations Average remaining lease duration: 14.5 years
Laid Up
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 7 11/16/2015
Key Player for Oil Production in Brazil
SBM-Built Units Currently Producing Oil in Brazil:
• Cidade de Anchieta
• FPSO Frade
• FPSO Capixaba
• Espirito Santo
• FPSO P-57
• Cidade de Paraty
• Cidade de IlhaBela
Total Daily Production:
Petrobras: 2MM/d
All others summed: 390k/d
SBM Units: 498k/d
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
8 11/16/2015
SBM and Brazil
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 9 11/16/2015
Our Journey in Brazil….
1997
Operation
2014/15 2012/13 2016… 2010
Rio Office
P-57 project support
Engineering support
Local Content and local
vendors management
BRASA/ BSL – shipyard for
assembly and integration
Repair Works
Installation Barge / PELICANO
Employees’ numbers
increase
Local vendors
development
Brownfield projects
Executing 2 projects in
parallel
Brazilian Fleet Operation
4 Shorebases
Engineering
PMT from International to
Brazil
FPSO Frade
FPSO Espadarte
FPSO Brasil
FPSO Marlim Sul
FPSO Capixaba
FPSO Cidade de Paraty
FPSO Cidade de Ilhabela FPSO Cidade de Maricá
FPSO Cidade de Saquarema
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 10 11/16/2015
Estaleiro BRASA
Estaleiro BRASA in July/2012
A truly Brazilian solution
23 modules assembled within the
record period of 3 years
Estaleiro BRASA - today
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 11 11/16/2015
Pre-Salt contributes to over 30% of Brazilian Oil Production
SBM is a Key Player for Pre-Salt Production – more than 40%
FPSO Cidade de Saquarema
First Oil – 02Q2016
FPSO Cidade de Maricá
– First Oil – 01Q2016
Going onstream 01H16
FPSO Cid. Itaguaí 1 production well
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 12 11/16/2015
The Lease & Operate Model
Source: IHS
39%
17%
15%
7%
7%
5% 3%
3% 2% 2% Petrobras
Modec
SBM
BW Offshore
Teekay Offshore
OSX
Chevron
Petroserv
Saipem
Statoil
Owner Type Number of
FPSOs
Petrobras Own 16
SBM Lease 8
MODEC Lease 7
BW Offshore Lease 3
Teekay Offshore Lease 3
OSX Lease 3
Chevron Own 1
Petroserv Lease 1
Saipem Lease 1
Statoil Own 1
TOTAL in Brazil 41
• Long Term commitment from both contracting and contractor parties
• Dayrates paid only after First Oil - Genuine interest to deliver on schedule
• Revenue linked to Performance (uptime)
• No expenses during EPC phase
• Competitive financing conditions
• Fixed Lease and O&M rates – options for open-book / reimbursable
• Highly experienced and professional Offshore Operations track-record
• Lower HSSE incident rates in the market
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
11/16/2015
A historic commitment
towards the Brazilian
Supply Chain
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 14 11/16/2015
How Brazilian are We Today?
Sales, HR, Finance and other support functions
Procurement
Engineering
Product Life Extension
FPSO Operation
Construction
Rio Office/
Group
Rio Office/
Regional Centre
SBM Offshore
Operations
Installation
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 15 11/16/2015
Local Content Evolution
P57 CdP CdI CdM/S Planned Future…
E
P
C
Total capital expenditure with brazilian Supply Chain
just for CdI / M / S: aprox. R$ 2.7bi
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 16 11/16/2015
Social Impact of Local Execution
SBM in Brazil has hired:
4.211 employees (99% Brazilians)
Which Generates:
30.616 Indirect Jobs (within Supply Chain)
Which Generates:
13.394 Induced Jobs
TOTAL JOBS = 48.221
Value Driver Direct Impact Multiplier Total Impact
Business Activity
R$ 1,6 Billion 1,62 R$ 2,7 Billions
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 17 11/16/2015
Total forecasted CAPEX 2015-2019
Good news: Brazil is still main market for FPSO´s
Source: EMA 2015-2019 FPS Outlook Report- Jan 2015
Brazil and Africa represent 41% of forecasted TOTAL
Capex
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com 18 11/16/2015
What we believe
International competitiveness
International competitiveness
Long term investment
Support the country to develop the industry and people
Local suppliers frame work agreements
Know-how/competitive advantage to comply with Local Content requirements
11/16/2015
© SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
Obrigado!