Sbm Offshore Nv · EURONEXT:SBMO

Sbm Offshore Nv — Investor Presentation (November 2016)

46 slides from Sbm Offshore Nv's investor presentation, Nov 18, 2016

Slide 2: Disclaimer
Disclaimer The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this presentation “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions
Slide 3: No. 1 FPSO player worldwide
No. 1 FPSO player worldwide The Company Lease Fleet Dutch Headquarters 14 FPSOs 5 Regional Centers 2 FSOs 13 Shore Bases / Operations Offices 1 Semi-sub 1 Site Offices 1 MOPU Financials in US$ billion Performance Q3 2016 Guidance Directional(1) Revenue 2016 2.0 283 years of operational experience Di
Slide 5: Project delivery
Project delivery FPSO Cidade de Maricá On hire as of February 7, 2016 Initial charter contract of 20 years FPSO Cidade de Saquarema On hire as of July 8, 2016 Initial charter contract of 20 years FPSO Turritella On hire as of September 2, 2016 Initial charter contract of 10 years, with extension opt
Slide 6: FPSO Turritella
FPSO Turritella At almost 2,900m water depth deepest production unit and FPSO ever installed First disconnectable system with steel lazy wave risers (SLWR) World’s largest disconnectable turret © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 6 18-Nov-2016
Slide 8: Topsides complexity
Topsides complexity FPSO capacity requirements increased for topside installations Water Injection (bw pd) 300,000 Kikeh Cidade de Saquarema 250,000 Cidade de Maricà 200,000 Cidade de Ilhabela Capixaba Aseng 150,000 Serpentina Saxi-Batuque Mondo Cidade de Paraty 100,000 Cidade de Anchieta Espirito S
Slide 10: SBM lease portfolio
SBM lease portfolio First significant option to extend at the end of 2021 Vessel Name Field Name Client Country 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 LEASE AND OPERATE FPSO 1 FPS
Slide 11: Directional backlog
Directional(1) backlog(2) As of September 30, 2016 (US$ Billions) US$ 17.5 bn (as of September 30, 2016) 3Q16 Revenue Remaining Backlog $17.4 bn $0.1 bn Average of 63% of L&O backlog represents operating cash flow (1) Directional view is a non-IFRS disclosure, which assumes all lease contracts are c
Slide 12: Organization
Organization Corporate Headquarters: Amsterdam Group Functions: Amsterdam, Marly, Monaco Operations & Maintenance: Worldwide SBM Offshore N.V. Netherlands LEASE & TURNKEY OPERATE SBM – USA Houston SBM – Malaysia Kuala Lumpur SBM – Operations & Maintenance Worldwide SBM – Monaco Monaco SBM – Schiedam
Slide 13: Houston Regional Center
Houston Regional Center Experience Matters Our Clients: EARLY ENGAGEMENT for all Product Lines developing understanding of their needs allowing us to OPTIMIZE SOLUTIONS Our Recent Projects: o SHELL STONES / TURRITELLA (FPSO) o Shell BC-10 PH3 (BF) Our Product Lines: o FPU – Semisubmersible and TLP o
Slide 14: FPU Development
FPU Development I. SeaStar® TLP (5 designed, II. DeepDraft SemiTM (2 built and installed) designed, built, installed and operated) Developed for marginal fields Developed to provide a field Utilizes standard GoM proven solution for installation techniques WD>6000’ Replicate fixed platform Quay-side
Slide 15: Brownfield
Brownfield 1 >15 years of Brownfield experience Condition Assessments 2 >200 completed Brownfield Projects covering all Small Studies, scopes – from moorings to flare-tip Pre-FEED & FEED 3 Major Repair & Upgrades Now offering 3rd party Brownfield Services to all FPS Owner / Operators 4 De-Bottleneck
Slide 16: Project delivery: Brazil case study
Project delivery: Brazil case study SBM delivered 5 out of 8 closest to schedule Efficiencies can be achieved through similar projects Similar projects do not guarantee success – need competent contractors A six month delay results in ~US$400 million lower Non-SBM project NPV, equivalent to Contract
Slide 17: Delivering the full product life cycle
Delivering the full product life cycle Engineering Procurement 60 years of industry firsts Integrated supply chain Leading edge technology Global efficiencies Local sourcing Product Life Extension Construction Leader in FPSO relocation Strategic partnerships World class after sales Unrivalled projec
Slide 18: © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 18-Nov-2016
© SBM Offshore 2016. All rights reserved. www.sbmoffshore.com © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 18 18-Nov-2016
Slide 19: Today's challenges and SBM's response
THE CURRENT ENVIRONMENT Today’s challenges and SBM’s response Fast4ward overview Where we make the difference Value proposition in a nutshell Q&A © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 19 18-Nov-2016
Slide 20: Oil dynamics
Oil dynamics Oil price seems to US$/bbl have stabilized Currently, oversupply persists; balancing seems close but timing unclear and driven by multiple factors Uncertainty remains © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 20 18-Nov-2016 Source: CapitalIQ, IEA.
Slide 21: Commitment to oil: Big Oil capex
Commitment to oil Big Oil capex Upstream investment continues its decline Big Oil reinvestment under pressure due to lower operating cash flow and dividend obligations Big Oil continues to preserve cash flow © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 21 18-Nov-2016 Source: BP, Ene
Slide 22: Field development economics
Field development economics Global liquid cost curve Deepwater competitive with Shale/Tight Oil Development costs have decreased across the board Deepwater must continue to improve to compete for marginal Capex © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 22 18-Nov-2016 Source: Ryst
Slide 23: Competitive Landscape
Competitive Landscape Small Conversions – Large Conversions – <60,000 bbls / day 80,000-150,000 bbls / day Newbuilds – >200,000 bbls / day 23
Slide 24: Today's challenges and SBM's response
The current environment TODAY’S CHALLENGES AND SBM’S RESPONSE Fast4ward overview Where we make the difference Value proposition in a nutshell Q&A © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 24 18-Nov-2016
Slide 25: Today's challenges
Today’s challenges LIGHTER Safer, faster, cheaper, deeper, smarter,... many challenges, but probably one global answer © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 25 18-Nov-2016
Slide 26: Our approach to client's needs
Our approach to client’s needs PROACTIVITY, CREDIBILITY and AFFORDABILITY drive our approach to the market Back in 2014, we launched an internal program to address a different execution strategy for the future generation of FPSO’s © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 26 18-N
Slide 27: Fast tracking FPSO is the key
Fast tracking FPSO is the key Reduced complexity and shorter schedules are key in reaching better safety, economics Fast tracking and lower risk for floating production solutions an FPSO is the solution going FPSO is on the critical path to first oil forward, and the the gateway to cash SBM therefor
Slide 28: It's all about standardization, with flexibility
It’s all about standardization, with flexibility Our experience helped us define the basis of our journey to develop a new business model to fast track future FPSO projects: Although a fully standardized FPSO is not practical, there are MANY OPPORTUNITIES TO STANDARDIZE and accommodate bespoke featu
Slide 29: Our experience makes us credible
Our experience makes us credible An unrivaled experience and expertise in the design, construction and operation of FPSO’s throughout the world Over Almost 283 years 1 50 FPSOs of operating built experience SBM is the unquestioned expert to capitalize on standardization for FPSOs and offer a solutio
Slide 30: Today's challenges and SBM's response
The current environment Today’s challenges and SBM’s response FAST4WARD OVERVIEW Where we make the difference Value proposition in a nutshell Q&A © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 30 18-Nov-2016
Slide 31: The Fast4Ward equation
The Fast4Ward equation New-Build - Generic hull Topsides & Mooring catalogue solutions + + = © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 31 18-Nov-2016
Slide 32: Overall concept
Overall concept A generic design optimized for deployment in a wide area A DESIGN THAT FITS A WIDE MARKET, WITH THE FLEXIBILITY TO BE TAILORED TO THE SPECIFIC NEEDS OF A PROJECT. © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 32 18-Nov-2016
Slide 33: SBM Group Technical Standards - GTS
SBM Group Technical Standards - GTS Today the GTS are unique in being the only set of FPSO specific standards in the industry leveraging our accumulated operating experience, they provide a valuable foundation for the SBM’s leased FPSO projects. The Fast4ward project is based on SBM GTS, with the To
Slide 34: Ease of Standardisation
Standardization initiatives The “ease of standardization” can be displayed in this chart, highlighting the generic and bespoke nature of the various FPSO elements. Adapting design maturity Ease of Standardisation Hull & Utility Topsides Topsides Topsides Mooring Accomm systems Water Oil Gas & Inject
Slide 35: Hull: one fits all
Hull: one fits all A generic hull ready to receive and integrate topsides modules and mooring system A 100% new-build vessel Large capacity storage Integration afloat – only one quay needed No conversion phase Additional deck space to accommodate the most complex topsides A SMOOTHER, FASTER, PREDICT
Slide 36: Mooring: flexibility is the key
Mooring: flexibility is the key EXTERNAL, INTERNAL AND SPREAD MOORING available from a catalogue of solutions A generic design optimized for deployment in a wide area © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 36 18-Nov-2016
Slide 37: Topsides: a modular approach
Topsides: a modular approach Two module categories available from a catalogue to cover all needs for topsides: 1. GENERIC MODULES highly standardized, they fit to all projects 2. BESPOKE MODULES conceptually standardized, then tailored to suit the specific crude oil characteristics and processing re
Slide 38: Today's challenges and SBM's response
The current environment Today’s challenges and SBM’s response Fast4ward overview WHERE WE MAKE THE DIFFERENCE Value proposition in a nutshell Q&A © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 38 18-Nov-2016
Slide 39: Fast4Ward Potential: cost and schedule
Fast4Ward Potential Cost and schedule FPSO PROJECTS BY DECADE OF DISCOVERY 80s Discovery to FPSO Contract 24 to 36 FPSO Contract to 1st Oil 90s Discovery to FPSO Contract 24 to 36 FPSO Contract to 1st Oil Discovery to FPSO 24 to 36 00s FPSO Contract to 1st Oil Contract Discovery to FPSO Fast4Ward Co
Slide 40: Safety and sustainability
Where Fast4Ward makes the difference Safety and sustainability IMPROVED SAFETY through: o More ground works and less confined space works o Less site manhours o Lowered topside modules and better access o Reduced congestion and hydrocarbon inventory o Optimum mooring configuration SUSTAINABILITY TAK
Slide 41: Topsides: more space, less weight
When Fast4Ward makes the difference Topsides: more space, less weight Extra deck space helps lower modules and spread equipment across the deck for less verticality and better access for maintenance Substantial weight reduction © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 41 18-Nov-
Slide 42: Today's challenges and SBM's response
The current environment Today’s challenges and SBM’s response Fast4ward overview Where we make the difference VALUE PROPOSITION IN A NUTSHELL Q&A © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 42 18-Nov-2016
Slide 43: Our value proposition in a nutshell
Our value proposition in a nutshell New-build Topsides & Mooring Generic hull catalogue solutions © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 43 18-Nov-2016
Slide 45: Today's challenges and SBM's response
The current environment Today’s challenges and SBM’s response Fast4ward overview Where we make the difference Value proposition in a nutshell Q&A © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 45 18-Nov-2016

SBM Offshore — Investor Presentation (November 2016) on 6ix

Sbm Offshore Nv — Investor Presentation (November 2016)

Slide 1: Investor Presentation Houston

Slide 2: Disclaimer

Slide 3: No. 1 FPSO player worldwide

Slide 4: History of innovation

Slide 5: Project delivery

Slide 6: FPSO Turritella

Slide 7: Pushing the boundaries

Slide 8: Topsides complexity

Slide 9: Clients and partners

Slide 10: SBM lease portfolio

Slide 11: Directional backlog

Slide 12: Organization

Slide 13: Houston Regional Center

Slide 14: FPU Development

Slide 15: Brownfield

Slide 16: Project delivery: Brazil case study

Slide 17: Delivering the full product life cycle

Slide 18: © SBM Offshore 2016. All rights reserved. www.sbmoffshore.com 18-Nov-2016

Slide 19: Today's challenges and SBM's response

Slide 20: Oil dynamics

Slide 21: Commitment to oil: Big Oil capex

Slide 22: Field development economics

Slide 23: Competitive Landscape

Slide 24: Today's challenges and SBM's response

Slide 25: Today's challenges

Slide 26: Our approach to client's needs

Slide 27: Fast tracking FPSO is the key

Slide 28: It's all about standardization, with flexibility

Slide 29: Our experience makes us credible

Slide 30: Today's challenges and SBM's response

Slide 31: The Fast4Ward equation

Slide 32: Overall concept

Slide 33: SBM Group Technical Standards - GTS

Slide 34: Ease of Standardisation

Slide 35: Hull: one fits all

Slide 36: Mooring: flexibility is the key

Slide 37: Topsides: a modular approach

Slide 38: Today's challenges and SBM's response

Slide 39: Fast4Ward Potential: cost and schedule

Slide 40: Safety and sustainability

Slide 41: Topsides: more space, less weight

Slide 42: Today's challenges and SBM's response

Slide 43: Our value proposition in a nutshell

Slide 44: 18-Nov-2016

Slide 45: Today's challenges and SBM's response

Slide 46: Q&A