Teekay Corporation Ltd. · NYSE:TK
Teekay — Investor Presentation (June 2012)
11 slides from Teekay's investor presentation, Jun 18, 2012
Slide 1: FPSO Business Update and Knarr Project
FPSO Business Update and Knarr Project June 18, 2012
Slide 2: Teekay Petrojarl: A Successful Project Developer
Teekay Petrojarl: A Successful Project Developer • A pioneer in offshore since 1974 ○ Developed the first purpose-built North Sea FPSO (Petrojarl 1 - 1984) ○ Specialize in harsh weather and deepwater offshore FPSO engineering, design and operations ○ 64+ vessel-years operating experience • Business
Slide 3: Market Leader in Harsh Weather FPSO Operations
Market Leader in Harsh Weather FPSO Operations Overall Production Utilization Factor (PUF) Teekay FPSO Fleet 100 97 95.3 94.9 94.6 94.8 95.3 94.5 95 93.6 90.5 91.4 90 85 (PUF%) 80 75 70 65 60 55 50 2004 2005 2006 2007 2008 2009 2010 2011 2012 2012 Target YTD 3 www.teekay.com
Slide 4: Sevan Investment Compliments Teekay's FPSO Skill Set
Sevan Investment Compliments Teekay’s FPSO Skill Set • Sevan’s patented cylinder shaped hull design and marine structural engineering expertise compliment Teekay’s strengths in operations and ship shaped FPSO solutions • Performance characteristics of cylindrical hull design make it well suited to a
Slide 5: Sevan Transaction has Created Competitive Advantages for Teekay
Sevan Transaction has Created Competitive Advantages for Teekay Semi SPAR TLP FPSO Sevan Semi SPAR TLP FPSO Sevan Motion Strong Strong Strong Medium Strong Stability/ Robustness Relative Weak Relatively weak Weak Strong Strong Water depth Issues over 2000 m < 3000 m <1,600 m Issues over 2000 m <3000
Slide 6: Cylindrical Hull Design Benefits
Cylindrical Hull Design Benefits • Excellent motion characteristics with negligible pitch/roll and low heave motions • Strong performance in ice conditions enhances suitability to North Sea and Barents Sea deployment • CAPEX savings due to reduced light ship steel weight and no turret/swivel require
Slide 7: Cylindrical Hull Stability Demonstration
Cylindrical Hull Stability Demonstration 7 www.teekay.com
Slide 8: Knarr FPSO Project
Knarr FPSO Project • Knarr FPSO is Teekay’s largest FPSO newbuilding project to date ○ Maximum design production capacity of 63,000 bbls/day and 70 mmscf/day gas export through pipeline ○ Currently under construction at the Samsung Heavy Industries yard in South Korea • Upon delivery, the Knarr FPSO
Slide 9: Managing Knarr Project Risk
Managing Knarr Project Risk Project First Award Oil Business Project Operations Development Execution FEED, Contract Basic Detailed Studies Estimation, Construction Operations Negotiations Engineering Engineering Tendering Execution: Construction: Execution: Support: Supervision: Supervision: 9 www.
Slide 10: Knarr Project Construction Timeline
Knarr Project Construction Timeline • Steel cutting commenced in November 2011 • Expected to start production on field in March 2014 June 30, 2011 December 2011 August 2012 December 2013 March 2014 Project Award Commencement of FPSO Unit Sail Away First Oil Turret Construction Launch from Shipyard N
Slide 11: Knarr Construction Proceeding On Schedule and On Budget
Knarr Construction Proceeding On Schedule and On Budget 11 www.teekay.com