Petrovietnam Drilling & Well Services Jsc · HOSE:PVD
Petrovietnam Drilling & Well Services Jsc — Petrovietnam Drilling & Well Services Corporation (PV Drilling) — Investor Presentation (2010)
34 slides from Petrovietnam Drilling & Well Services Jsc's investor presentation, 2010
Slide 1: PV Drilling Company Profile Presentation
PETROVIETNAM DRILLING & WELL SERVICES CORPORATION OFILE PV DRILLING NY PRO PRESENTATION COMPAN S A O C IR TEAM
Slide 2: Table of Contents
TABLE OF CONTENTS Pioneer off Vietnam Driller | Company Overview | Industry I d t Overview O i | Competitive p Strengths g | Financial Highlights
Slide 3: Company Overview
Pi ee off Vietnam Pioneer Viet a Driller D ille COMPANY OVERVIEW
Slide 4: PV Drilling – Key Milestones
PV DRILLING – KEY MILESTONES Pioneer off Vietnam Driller 2007 2006 2001 A group 1994 holding company A joint stock company with 51% A wholly owned q y owned equity subsidiary of by PetroVietnam PetroVietnam A division of PTSC Vision: Vi i To be T b an internationally i t ti ll reputable t bl andd
Slide 5: Scope of Services
SCOPE OF SERVICES Pioneer off Vietnam Driller Drilling Drilling-related services Other services - Manpower services (drilling crew) - Cementing & stimulation - Drilling tools rental services services (BJ-PVD) - Mud logging services & geologist consultant - Well testing services (PVD – services PTI)
Slide 6: Organization Chart
ORGANIZATION CHART Pioneer off Vietnam Driller GENERAL SHAREHOLDERS MEETING BOARD OF SUPERVISION BOARD OF MEMBERS PRESIDENT & CEO VICE PRESIDENTS VICE PRESIDENT& CFO Functional Departments Subsidiaries 100% Capital Owned Joint Venture & Associated Subsidiaries COMMERCIAL & INVESTMENT PETROVIETNAM DR
Slide 7: PV Drilling Division
PV DRILLING DIVISION Pioneer off Vietnam Driller | Specializing in the management and operations of drilling rigs … PV DRILLING … TAD On bidding process PV DRILLING III Being delivered in Nov. 2009 2009 PV DRILLING II Being delivered in Sep. 2009 2009 PV DRILLING 11 Starting operation from Sep. 2007
Slide 8: PV Drilling Division
PV DRILLING DIVISION Pioneer off Vietnam Driller PV Drilling I jack-up rig – Operating performance efficiency
Slide 9: PV Drilling Division
PV DRILLING DIVISION Pioneer off Vietnam Driller PV Drilling I jack-up rig achievement A great achievement for 730 days without a Lost Time Incident
Slide 10: PVD Offshore Co., Ltd.
PVD OFFSHORE CO., LTD. Pioneer off Vietnam Driller Oil spill control Inspection, services refurbishment and maintenance of drilling tools Drilling manpower supply service contributes the highest portion of more than 50% of the Compan Company's's re revenue en e and net profit. Manpower Drilling
Slide 11: PVD Well Services Co., Ltd.
PVD WELL SERVICES CO., LTD. Pioneer off Vietnam Driller | Focus on y Drilling tool rental y Tubular running y Directional drilling MWD/LWD y Coring y Fi hi and Fishing d P&A y Liner hanger and completion services In 2008, its market share increased in Vietnam by from 10% to 80% for directional dri
Slide 12: PVD Logging Services Co., Ltd.
PVD LOGGING SERVICES CO., LTD. Pioneer off Vietnam Driller | Specialized in high-tech services y Mud logging y Geologist/consultant y Slickline y Wireline logging y Well testing services Focusing ocus g o on se self-supply supp y se services ces tthat at contributed high return on revenue such as
Slide 13: PVD Trading & Technical Services
PVD TRADING & TECHNICAL SERVICES Pioneer off Vietnam Driller | Provides services for oil & gas and other industries y Materials y Spare parts y Equipments y Technical services Starting operation of the 2.5 hectare worksite at Dong Xuyen Industrial Zone in Vung Tau City. The worksite is fully equ
Slide 14: PVD Technical Training & Certification
PVD TECHNICAL TRAINING & CERTIFICATION Pioneer off Vietnam Driller | Local exclusive partner of British Institute of Welding Technology and Seatag Offshore Company (New Zealand) y Internationally recognized competency-based training, certification, professional qualifications, technical services wit
Slide 15: BJ Services - PV Drilling
BJ SERVICES - PV DRILLING Pioneer off Vietnam Driller | Specializes in providing services y Cementing y Stimulation y Coiled tubing y Nitrogen pumping y Refurbishment y Sand control filtration and fracturing services
Slide 16: Other Joint Ventures
OTHER JOINT VENTURES Pioneer off Vietnam Driller PV DRILLING – PRODUCTION TESTERS INTERNATIONAL COMPANY LIMITED Providing services to the phases of the exploration, appraisal, development and production of the well services including Producing, Processing, Renting facilities, P d ti U Production Upl
Slide 17: Company Strategies
COMPANY STRATEGIES Pioneer off Vietnam Driller Major Initiatives Highlights -Investment of new rigs and advanced technology -Development of new high-tech services with high return on investment such as oil & gas sampling transfer and Expansion on local market management, geology predict, slick-line,
Slide 18: Matrix Services
MATRIX SERVICES Pioneer off Vietnam Driller Rigs operating High Current Tubulars Directional Bits PVD Well services drilling service & Workover Mud focus Rental Cementing tools Stimulation Operational Wellhead Production services Focus ocus a and d JJV Importance Chemicals arrangements to Oil&Gas Op
Slide 19: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM Pi ee off Vietnam Pioneer Viet a Driller D ille Dr. Do Van Khanh President & CEO 25 years of experience in the drilling field PhD in Petroleum Geology in 2005 Mr. Tran Van Hoat Mr. Van Duc Tong Mr. Pham Tien Dung Mr. Ho Vu Hai Mr. Dao Ngoc Anh Ms. Ho N.Y. Phuong Vice Pres
Slide 20: Shareholders Structure
SHAREHOLDERS STRUCTURE (*) Pioneer off Vietnam Driller Market capital 753 Mil.$ PetroVietnam (50.38%) PVFC (3.14%) VCB(3 04%) VCB(3.04%) Foreign shareholders (27.20%) Foreigners d t il details Others (16.24%) (*) As of 22 Dec. 2009 Total current outstanding share: 210,508,215
Slide 21: Industry Overview
Pi ee off Vietnam Pioneer Viet a Driller D ille INDUSTRY OVERVIEW
Slide 22: Oil & Gas Industry Overview
OIL & GAS INDUSTRY OVERVIEW Pioneer off Vietnam Driller | Vietnam’s proven oil reserves are 826m tons of crude oil and 870bn m3 of natural gas | Vietnam s oil industry has a monopolistic Vietnam’s structure controlled by State owned PetroVietnam (PVN). Oil production is carried by Joint Operating Co
Slide 23: Drilling Market
DRILLING MARKET Pioneer off Vietnam Driller | In the period of 2008-2012, global market demands about 700 drilling rigs, of which approximately 430 are required to be Jack- up rigs. | South East Asia will require 42 Jack-up rigs per year for the period of 2008-2010 Source: ODS Petro Data – June 2008
Slide 24: Competitive Strengths
Pi ee off Vietnam Pioneer Viet a Driller D ille COMPETITIVE STRENGTHS
Slide 25: PVD's Market Share & Competitors
PVD’S MARKET SHARE & COMPETITORS Pioneer off Vietnam Driller Market No. Description Competitors share GSF; TSF; Diamond Offshore; 1 Provision of drilling rig 10% Atwood; Oceanic; Ensco; Seadrill; etc. Well services (excluding Schlumberger; Halliburton; 2 cementing & stimulation 50% Weatherford; Geos
Slide 26: PVD's Major Clients
PVD’ S MAJOR CLIENTS Pioneer off Vietnam Driller
Slide 27: Investment Plan
INVESTMENT PLAN Pioneer off Vietnam Driller DRILLING | 2007 – 2009: US$ 440m for two jack-up rigs | 2009 – 2011: US$ 230m for Tender Assist Drilling rig | 2010 – 2012: US$ 35m for two land rigs | 2014 – 2017: US$ 650m for Semi-submersible DRILLING RELATED SERVICES | 2010 – 2015: US$ 30 - 50m/year fo
Slide 28: Financial Highlights
Pi ee off Vietnam Pioneer Viet a Driller D ille FINANCIAL HIGHLIGHTS
Slide 29: PV Drilling Performance
PV DRILLING PERFORMANCE Pioneer off Vietnam Driller Revenue Net Profit Trend Trend ((Mil. $) ((Mil. $) ROE (%)
Slide 30: PV Drilling Performance
PV DRILLING PERFORMANCE Pioneer off Vietnam Driller Margin (%)
Slide 31: Breakdown by Services – 2009F
BREAKDOWN BY SERVICES – 2009F Pioneer off Vietnam Driller
Slide 32: PV Drilling Assets & Capital Structure
PV DRILLING ASSETS & CAPITAL STRUCTURE Pioneer off Vietnam Driller U it Unit 2006 2007 2008 2009F Current Liabilities US$m 42.12 41.98 225.95 100.19 Long-term Liabilities US$m 44.01 80.99 121.64 270.11 q y Equity US$m US$ 49.32 93 147.49 9 151.00 5 00 230.17 30 Total Assets US$m 135.45 270.46 498.59
Slide 33: Conclusion
CONCLUSION Pioneer off Vietnam Driller | Drilling market is still potential in the future | PV Drilling g will be stronger g and more competitive p from operation of 5 drilling rigs (03 jack-up, 01 tender assist and 01 land rig) | Profit margin and ROE have increased following the increase in invest
Slide 34: Thank You
THANK YOU