Subsea 7 S.a. · OSL:SUBC
Subsea 7 — Barclays CEO Energy-Power Conference 2019
20 slides from Subsea 7's conference presentation, 2019
Slide 1: Barclays CEO Energy-Power Conference 2019
Barclays CEO Energy-Power Conference 2019 John Evans, COO 1 © Subsea 7 - 2019 subsea7.com
Slide 2: Subsea 7 Vision, Values and Strategy
Subsea 7 Our Vision To lead the way in the delivery of offshore projects and services for the energy Our Values industry. What makes us who we are Our Strategy In an evolving energy sector, we create Safety Values Performance sustainable value by being the industry’s Safety partner and employer of c
Slide 3: © Subsea 7 - 2019 subsea7.com
3 3 © Subsea 7 - 2019 subsea7.com
Slide 4: Corporate Responsibility
Corporate Responsibility • We are committed to operating in a safe, ethical and responsible manner Lost-time incident Clean Operations $3.1m Frequency rate (%) costs 2019 Targets: saved 5,000 - LTI <0.03 (target 3,600 lowered from 0.05 in 3,800 3,300 2018) 0.06 0.06 0.05 - Recordable incident 0.05 f
Slide 5: Our market segments
Our market segments Life of Field 2018 Revenue i-Tech 7 is a progressive and $4.1 billion pioneering subsea life of field partner delivering Inspection, Repair and SURF and Conventional Maintenance solutions to offshore Subsea 7 is a global leader in energy developments. offshore energy construction
Slide 6: SURF and Conventional
SURF and Conventional SURF and Conventional • Subsea Umbilicals, Risers and flowlines (SURF) • Connecting seabed wellhead structures to surface production facilities • Over 20 year track record: safe and efficient execution on over 1,000 projects • Operating in remote and harsh environments with com
Slide 7: Life of Field
Life of Field • Leading Life of Field partner • Over 165 ROVs and a for clients throughout the oil fleet of ROV support and gas industry vessels • Over 35 year’s experience • Global business with operational bases in the UK, Brazil, the US and Australia 7 © Subsea 7 - 2019 subsea7.com
Slide 8: Renewables and Heavy Lifting
Renewables and Heavy Lifting 1991 SHL 2016 Beatrice 2018 SOC Joint Venture EPCI awarded acquired by established to Subsea 7 Subsea 7 2018 Comprehensive 2009 First 2013 Subsea 7 2017 SHL balance of plant Renewables increases its acquired by offering: T&I and EPCI Project for focus on SHL renewables S
Slide 9: Our Differentiators
Our Differentiators We’re different from our competition because we’re more creative, more reliable, and more focused on what our clients really need. Culture Global team with expertise, passion and commitment to deliver. Creativity Ability to innovate through technology, processes and partnerships.
Slide 10: Early engagement
Early engagement • Creating value through early client engagement • Xodus provides client-led solutions • Subsea 7 and Subsea Integration Alliance provide supplier led solutions • Access to 400+ early engagement professionals FEASIBILITY & CONCEPT CONCEPT SELECT & PRE- FEED & DESIGN EARLY CLIENT ENG
Slide 11: Relationships with clients and partners
Relationships with clients and partners • Comprehensive integrated Fully offering with Subsea Integrated Integration Alliance partner OneSubsea, Schlumberger • Unique integrated client partnership model with Aker BP • Successful partnership models with certain independent clients including Premier,
Slide 12: Integrated project studies and FEED track record
Murphy, Dalmatian TAQA, Otter BP, Manuel ExxonMobil, Shell, Ormen Lange (COMPLETED) (COMPLETED) West Barracouta Compression First short-schedule, Longest multiphase Longest boosting multi-well, deepwater First integrated subsea FEED boosting tieback, tieback in integrated development for Esso 35 km
Slide 13: Integrated SPS + SURF Contract Awards
Integrated SPS + SURF Est. 2019 Awards (not exhaustive) Integrated Contracts Est. Value (USD bn) Contract Awards • Atlantis Ph. 3 (BP, GoM) • Luno II (Lundin, N. Sea) • Area 1 (Anadarko, Mozambique) • Merakes (Eni, Indonesia) 16 • Duva and Gjoa (Neptune Energy, Norway) 5.7 • TOR II (COP, N. Sea) • T
Slide 14: Proven capabilities and some industry firsts
• Proven capabilities and some industry firsts: Dalmatian Otter Mad Dog 2 Katmai SNE 1 & Scarborough Murphy Dalmati an ▪ Client: Murphy ▪ Client: TAQA ▪ Client: BP ▪ Client: Fieldwood ▪ Client: Woodside ▪ Longest multiphase ▪ Alliance contract mitigates ▪ Greenfield development ▪ 15k XT system, tied
Slide 15: The outlook for offshore oil and gas projects is improving
The outlook for offshore oil and gas projects is improving Subsea Equipment Subsea Services SURF 24 18 +13% 20 15 +17% +9% 12 16 +8% -7% 9 -7% 9 12 +15% +3% -1% 8 6 6 3 3 4 0 0 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2014 2015 2016 2017 2
Slide 16: Outlook: Greenfield SURF projects to be awarded to market
Outlook: Greenfield SURF projects to be awarded to market • Many are integrated Canada • Early engagement • Equinor Bay du Nord increasingly required • High barriers to entry – Technology Africa Woodside SNE 1* – Engineering capability • • Shell Bonga SW – Experience • Aker Energy Pecan • ENI Rovuma
Slide 17: Offshore wind farms
Offshore wind farms • Double-digit structural growth trend Cumulative GW Installations 140 • Increasing global footprint outside Europe 120 • Seaway 7 has over 10 years’ experience 100 in wind farms installation 80 CAGR 16% • Four specialist Seaway 7 vessels GW including heavy lift and cable-lay 60
Slide 18: Summary
Summary • Market award activity in offshore oil and gas has begun to recover • Subsea 7 has taken cyclical opportunities to grow and strengthen its business for the future and is positioned well for the next phase of the cycle • Subsea 7’s Values-driven strategy and strong financial position have su
Slide 19: Forward-looking statements
Forward-looking statements Certain statements made in this presentation may include ‘forward-looking statements’. These statements may be identified by the use of words like ‘anticipate’, ‘believe’, ‘could’, ‘estimate’, ‘expect’, ‘forecast’, ‘intend’, ‘may’, ‘might’, ‘plan’, ‘predict’, ‘project’, ‘s
Slide 20: Contact: Isabel Green, Investor Relations Director
Contact: Isabel Green, Investor Relations Director eMail: isabel.green@subsea7.com Direct Line +44 20 8210 5568 Website www.subsea7.com 20 © Subsea 7 - 2019 subsea7.com