Professional Documents
Culture Documents
OSX Corporate Presentation
OSX Corporate Presentation
ORGANIZATIONAL STRUCTURE
FREE FLOAT
23.36%
HYUNDAI
10%
Shipbuilding Unit
Leasing
Services
2
* Represented through Centennial Asset Mining Fund LLC. , Eike Batista (indirectly owns 100% of Centennial Asset Mining LLC), Board of Directors and Board of Executive Officers
OSX PILLARS
Strong Demand from OGX Attractive Market Conditions in Brazil Local Content Requirement Strategic Partnership with Hyundai Priority Rights between OSX and OGX
Expected oil and gas resources to increase to 100 Bboe, with announced investments of US$ 140bn plus Underserved domestic equipment & services market Approximately 70% of E&P industry capex supplied locally Key for Brazils long-term social and economic development (285,000 jobs in 5 years) Partnership with the largest shipbuilder in the world State-of-the-art technology and transfer of know-how Construction of the largest shipyard of the America's in the Au Superport Industrial District ITN Institute of Naval Technology , partnerships with technical institutions and universities Absorption and application of Korean technology Qualification of 3,100 technical personnel until 2013 More than 30 years experience, on average, in the E&P sector US$ 30bn in projects and more than 50,000 people under management
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Environment, Health and Safety Heraldo Albuquerque (27) Commercial Department Rodrigo Lopes (25) Recursos Humanos Monica Barbosa
Joo Borges (20) Chief Financial Officer and Investor Relations Officer
Paulo Ricardo (28) Exploration Campos & (34) Antonio Maceiras ES Roberto Toledo (31) E&P Laboratory Regina Ozorio (31)
New Ventures Training /ITN
Total OSX employees: approx. 650 Total employees involved in the operations: 2500
77%
79%
54%
79%
48%
40% 39%
9th
10th
Source: ANP Note (1) 8th ANP bidding round auction is still under discussion
BRAZILIAN SHIPYARDS
Local shipyards are not prepared to serve expected offshore E&P equipment demand
Main Shipbuilders in Brazil
EAS
Committed Slots
ERG Brasfels
1,6
0,5
0,5
0,4
0,1
160
60
50
36
Brasfels
Labor Force
Source: Verax
SHIPBUILDING UNIT
SILICON VALLEY
COAL
IRON ORE
Main entrance Office buildings Production workshops (manufacturing of blocks, structures, accessories and pipes)
Industrial facilities Module assembly area Jacket pre-assembly area Jacket assembly area
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Main processes*:
Maintenance & Facilities EHS/EBP
Globally unprecedented systems integration in the naval construction sector (partnership with SIX).
Engineering
Project benefits:
Reduce errors in transmission of information Reduce stock and waste Production and productivity real time
Planning & Programing
information
Precise allocation of production costs
Processes and Managerial Information Commissioning
*Illustration only
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P P P P P P P
P P P P
P P P P
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UCN SECTIONS READY SLOT 1 SLOT 2 BEGINNING OF OPERATION OF NORTH AREA MODULE ASSEMBLY AREA INDUSTRIAL FACILITIES SLOT 3 SLOT 4 DRY DOCK RETRO AREA PRE-ASSEMBLY AREA SLOT 5 COMPLETION OF CONSTRUCTION
2013 1st QUARTER 1st QUARTER 2nd QUARTER 2nd QUARTER 3rd QUARTER 3rd QUARTER 4th QUARTER 4th QUARTER 4th QUARTER -
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20,1% 2013
OSX (US$) 93 135 262 339 133 146 487 119 $1,714
1,9% 2014
LLX (US$) 90 129 $219
Total tenure 21 years with a 42/36-month grace period for amortization of principal and 36/30-month grace period for payment of interest (BNDES/CEF) with an expected average interest rate US$ + 3,38% a.a.
2011
BUILDINGS DRY DOCK ROADS AND PAVING EQUIPMENT, ENGINEERING AND ENVIRONMENT OTHERS TOTAL
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15
October | 2011
November | 2011
December | 2011
January | 2012
February | 2012
March | 2012
April | 2012
May | 2012
June | 2012
July | 2012
August | 2012
September | 2012
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17
18
19
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PRODUCT PORTFOLIO
UCN Au designed and equipped to meet diverse orders FPSO
Floating, Production, Storage and Offloading Unit Drilling units heavily demanded for ultra-deep waters
Drillship
Tanker
Maritime Transportation Unit
WHP
PLSV
Pipe-Laying Support Vessel
TLWP
Tension-Leg Wellhead Platform
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ORDER BOOK
Expecting Technical Specifications from Client Expecting Technical Specifications from Client 30 wells 30 wells 400-450 400-450 2Q14 4Q13
Expecting Technical Specifications from Client Expecting Technical Specifications from Client N/A N/A 150K bopd 263 732 900 4Q14 2Q15 - 4Q17 3Q16 - 3Q17
P P P P P P P P P
* Delivery at the shipyard (ex-installation) 1- OSX with a 49% stake of total contract
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FPSOs
Certifications
99.4% Certified by BSI (British Standard Institution)
1Q 2012
2Q 2012
3Q 2012
Age (crew)
4% 14% 28% 26% 28%
Greater than or equal to 60 years 20 to 30 years 30 to 40 years 40 to 50 years 50 to 60 years
From 20 to 30 years
* Includes Operational Efficiency results for months of February and March only
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FPSO OSX-2
Leasing and O&M contracts with OGX for a period of 20 years
Construction Contract EPCI contract signed with SBM Construction of the vessel, turret and topside modules in progress at
FPSO OSX-3
Leasing and O&M contracts with OGX for a period of 20 years
Construction Contract EPCI contract signed with MODEC Conversion and construction of the hull in progress at the Jurong shipyard in Singapore, with the final dry docking of the vessel underway Main equipment purchase orders have been placed
Milestones achieved and next steps The Gemini Star and Suhail Star Very Large Crude Carriers (VLCCs) will be used in the conversion of the hulls of FPSOs OSX-4 and OSX-5. The Concept Design, Front End Engineering Development (FEED), and Detailed Design for the Process Plants are following the OSX FLEX Concept. As informed in the previously mentioned order book, OSX awaits technical specifications from its client OGX regarding characteristics of these units. Regarding FPSO OSX-4: Basic engineering project concluded Generators and water injection modules with purchase orders placed Remaining main equipments and services with purchase orders under negotiation Hull survey completed 28
Delivery date:
P-67: 3Q 2016 P-70: 3Q 2017
Option to contract the integration of the third FPSO (P-72 or P-73) in up to 18 months from contract signature by Petrobras, through its subsidiary TUPI B.V.
WHPs
1 and WHP-2 to be chartered and operated by subsidiaries of OSX to its client OGX in the Campos Basin. WHP-1 will be connected
to FPSO OSX-2 and WHP-2 to FPSO-OSX-3 Development of the Basic Project for the jacket and topside by TECHNIP, subcontracted by TECHINT. Contract Techint Acquisition from TTS/CAMERON of a Drilling Package Unit (DPU) for each of the Units. Project underway. Estimated delivery WHP-1: 2Q 2014 Estimated delivery WHP-2: 4Q 2013 signed with
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PLSV
TANKERs
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PHASE I PHASE II
Training activities, technical assistance and supervision of operations in partnership with Hyundai (40 Korean specialists based in Brazil for 5 years) 80 employees from UCN Au to be trained at Hyundais shipyard in Ulsan, Korea Construction of ITN at UCN Au, with an area of approximately 1,800 m2 Facilities for workshops, labs, classrooms, auditorium and library Implementation of systems for simulation of operations of offshore units
Quissam So Francisco So Fidelis Maca Radius 2 75 Km 95 Km 100 Km 130 Km Up to 150 Km 3000 3,000 5,000 113,000 222,000 20,000 41,000 37,000 206,000 797,000
PHASE IV
Establish
Technological Innovation
partnerships with Brazilian and international academic
Metal-Mechanics,
Electricity,
Metallurgy,
O&G,
Use of SENAIs facilities and faculty in the city of Campos, as well as mobile units in So Joo da Barra
Mobile units for practical welding classes First welding class
Investment in training: R$ 12.7 million Classes began in June, 2012 880 students already being qualified Graduation Ceremony of the First Class (100 students) was held in October, 2012
First electrical class Graduation Ceremony of 1st class 38
FINANCIAL PERFORMANCE
R$ 36.5 MM EBITDA in 1H12 with two business units already in operation
In millions of BRL
OSX Brasil S.A. 1H12 Gross Revenue Taxes Net Revenue COGS Op. Income G&A EBITDA (24.4) (24.4) 1H11 (19.6) (19.6)
Consolidated 1H12 Gross Revenue Taxes Net Revenue COGS Op. Income G&A
1H11 39.5 (4.7) 34.8 (25.1) 9.7 (5.2) 4.5
Shipbuilding 1H12 Gross Rev Taxes Net Rev COGS Op. Income G&A EBITDA (32.2) (32.2) 1H11 (21.1) (21.1) Gross Rev Taxes Net Rev COGS
Leasing 1H12 103.6 103.6 (13.4) 90.2 (2.9) 87.3 1H11 (0.5) (0.5)
O&M Services 1H12 Gross Rev Taxes Net Rev COGS Op. Income G&A EBITDA 104.3 (8.3) 96.0 (82.3) 13.7 (7.9) 5.8
EBITDA
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RI@OSX.COM.BR
+55 21 2555 6914