Sbm Offshore Nv · EURONEXT:SBMO
Sbm Offshore Nv — Investor Day (September 2014)
16 slides from Sbm Offshore Nv's investor day presentation, Sep 19, 2014
Slide 1: Market Overview
Market Overiew Oliver Kassam Group Director - Sales & Marketing September 19, 2014 © SBM Offshore 2014. All rights reserved. www.sbmoffshore.com
Slide 2: Introduction
Introduction • General Market Trends & Opportunities • Focus Markets • Strategic Actions • Summary / Q&A 2
Slide 3: General Market Trends
General Market Trends North Sea / Europe • Increased demand for Arctic / Harsh environment solutions Gulf of Mexico • Lower Tertiary opportunities – Asia Pacific Technological requirements • FLNG – high volume of prospects • Mexico – reforms, deepwater, heavy oil despite challenging economics • Futu
Slide 4: Targeted Opportunities
Targeted Opportunities Identify & Select Target Bid Win Win Assess Total Visible Market Watch List Target List Targeted to Bid (2015 – 2017) ~130 projects ~80 projects ~50 projects • All FPSs, FLNG, • 40x FPSO • 25x FPSOs ~25-30 projects all sizes, all areas • 20x Turret • 15x Turrets • Leased and s
Slide 5: Market Segmentation
Market Segmentation Markets by Client and Geography Markets by Facility Type Petrobras 23 Pemex 6 Shell 6 BP 5 Noble Energy 5 Clients with 3+ projects: Anadarko 4 ConocoPhillips 4 ~80 projects 8% CNOOC 4 Woodside 4 Clients with < 3: Maersk Oil 3 ~50 projects (not shown) 11% Chevron 3 Statoil 3 Total
Slide 6: Our Focus
Our Focus Turrets, Moorings & Terminals Installation Floating Production Optimization Solutions Systems 6
Slide 7: Turrets, Moorings & Installation
Turrets, Moorings & Installation Europe/Mediterranean Large Complex Turrets • Chevron UK – Rosebank FPSO • Statoil Norway – Castberg FPSO • Bespoke solutions • Noble Israel – Leviathan FLNG • Cyclonic & frontier areas • Harsh environment, Arctic • Long design life Asia Pacific Other Turret Opportuni
Slide 8: Terminals Business
Terminals Business SBM Supplied Units/Components New Opportunities Europe Building upon our strengths and history in this business: • Market leader worldwide 14 APAC Americas Middle East Aftersales on supplied units: 85 75 Africa • Inspections 35 61 • Maintenance • Overhauls, refurbishments 270 CALM
Slide 9: Optimisation Solutions
Optimisation Solutions Optimisation Solution Completed • Relocation of FPSOs Espadarte and Capixaba (Brazil) • Kikeh FPSO (Malaysia) – Tie backs of SNP and GK with facilities upgrades Ongoing • Espirito Santo FPSO (Brazil) – Various production upgrades Commenced • Thunderhawk Semisub (GoM) – Tie bac
Slide 10: Floating Production
Floating Production North America FPSO • GOM – BP Kaskida Asia Pacific • Presalt Angola and Brazil • GOM – BP Tiber • CNOOC China – Liu Hua TLP/FPSO • GOM – Anadarko Shenandoah - Semi • Mexico Deepwater • Mexico – Pemex FPSO • Lower Tertiary (GOM) • East Africa FPU (TLP/Semi) • Leverage in-house IP
Slide 11: FPSO Awards (1 of 2)
FPSO Awards (1 of 2) Total Market Awards for FPSOs 25 Historical • 131 awards in last 10 years: 20 – 13 per year average 15 • 44 projects tendered by SBM: – 18 won 10 Forecast 5 • ~75 awards over next 5 years: – 16 per year average 0 SBM Offshore Other Future Awards Historical Internal + Analyst Vie
Slide 12: FPSO Awards (2 of 2)
FPSO Awards (2 of 2) Historical and Estimated Awards 16 14 13 12 12 12 10 10 8 7 6 4 2 0 2011 2012 2013 2014E 2015E Targeted Lost / Declined Targeted Won Non-Targeted Awarded Un-Awarded From 2011-2013, SBM won 6 of the 11 targeted FPSO awards Source: Internal data 12
Slide 13: Pre-Award Activity
Pre-Award Activity Bidding Activity 16 15 Ex: Carryover of 2 14 projects from 2010 13(1) to 2011 (across all project types) 12 10 10 10 8 7 6 4 2 0 2011 2012 2013 2014E 2015E Turret ITT FPU FEED/ITT Petrobras ITT Previous Year Carryover Anticipated high levels of bidding in 2015 (1) Petrobras ITT ar
Slide 14: SBM Strategic Actions
SBM Strategic Actions Client Issues & Trends SBM Actions • Standardization, repeatability Cost Pressure • Supply chain management • Weight reduction, lower manning levels • Earlier involvement & field approach Increased technical • Deeper, harsher, more remote complexity • Rejuvenate FLNG, TLP/Semis
Slide 15: Summary
Summary • High demand – Well diversified geographically, however remain cautious (challenging economics and delays) • Targeted bidding – Focused on specific opportunities in key markets • Strategic Initiatives – Put in place to prepare for market demand • Closer to Clients – Clear focus on SBM under
Slide 16: Q&A
Q&A © SBM Offshore 2014. All rights reserved. www.sbmoffshore.com © SBM Offshore 2014. All rights reserved. www.sbmoffshore.com