Worley Limited · ASX:WOR
Worley — WorleyParsons — Merger or Acquisition (April 2008)
9 slides from Worley's merger presentation, Apr 1, 2008
Slide 1: INTEC – Transaction Summary
For personal use only INTEC – Transaction Summary John Grill – Chief Executive Officer David Housego – Chief Financial Officer 1 April 2008
Slide 2: Transaction Summary
Transaction Summary For personal use only X Acquisition of 100% of INTEC from Heerema Group for $US 108.5m X Price reflects a 9.5 x EBITDA multiple on pro forma 31 Dec 2007 earnings Expected to be accretive Acquisition to be debt funded Completion expected 16 April 2008 Expect revenue synerg
Slide 3: Global Offshore Production & Spend To Grow
Global Offshore Production & Spend To Grow For personal use only X Offshore oil and gas markets continue to grow strongly X Future production expected to come increasingly from deepwater areas Source: World Offshore Oil & gas Forecast – Douglas Westwood
Slide 4: Growth Primarily In Deepwater Market
Growth Primarily In Deepwater Market For personal use only X Deepwater market represents a growth area for WorleyParsons X Offshore production growth forecast 2007-11: Shallow water 18% growth Deepwater 78% growth 100 200 Shallow Of f shore 180 Deep 90 Onshore 160 140 Expenditure ($billions) 80
Slide 5: Expenditure In Deepwater
Expenditure In Deepwater For personal use only X From 2010 offshore production growth forecast to be entirely from deepwater sector, accounting for 27% of market X Expenditures in deepwater are significant, and are continuing to grow X INTEC is well positioned to take advantage of this growing secto
Slide 6: Intec Capability
Intec Capability For personal use only INTEC is a leading service provider in the following deepwater sectors: Offshore Pipelines Subsea Systems Flow Assurance and Operability Marine Risers Offshore Field Development Scope of services across these sectors include consulting, concept select
Slide 7: Access To New Markets
Access To New Markets For personal use only X INTEC has an established presence and a proven track record in growing deepwater regions (such as Latin America, Africa, Asia Pacific) X Providing WorleyParsons access to new and emerging growth markets 1 7
Slide 8: INTEC – An Industry Pioneer
INTEC – An Industry Pioneer For personal use only With many legacy achievements: Field Developments Pipeline Achievements Largest FPSO Deepest S-lay and J-lay pipelines Deepest subsea production Longest offshore pipeline system First pipe-in-pipe steel catenary Longest oil and gas tiebac
Slide 9: Completes Our Deepwater Capability
Completes Our Deepwater Capability For personal use only INTEC WorleyParsons represents a new and exciting value proposition – “delivering complete and integrated solutions for all deepwater systems” Source: Offshore Magazine