DOF GROUP IN BRAZIL

CAPITAL MARKET DAY

.
NORWAY - JUNE 2008
BRAZILIAN MARKET

NORSKAN OFFSHORE
PETROBRAS Domestic E&P Profile
 Oil Production
PETROBRAS Development and Target
PETROBRAS E & P Investment Plan

Total Exploration & Production Capex (2008 – 2012)

IN BRAZIL 54.6 billion
Exploration 9.3 billion
Production Development 45.3 billion

INTERNATIONAL 10.5 billion

Exploration 4.5 billion
Production Development 6.0 billion

TOTAL BRAZIL + INTERNATIONAL 65.1 billion

2008 R&D Investment in E&P: approx. US$ 400 MM

 Main Domestic
PETROBRAS Oil Production Projects
 Main Production Projects
PETROBRAS PETROBRAS 2008-2015

Production Development in Campos Basin:

9 Roncador (P-55), Marlim Sul (P-51, P-56),

Papa Terra, Maromba, Jubarte Phase II (P-57),
Cachalote, Baleia Franca and Baleia Anã

Production Development in Santos Basin:

9 Mexilhão, Uruguá-Tambaú, Pirapitanga, Tupi

Production Development in Espírito Santo Basin:

9 Golfinho and Peroá-Cangoá

 Main Production Projects
PETROBRAS IOC non Petrobras 2008-2012

IOC’s are developing eleven huge projects

in three different basins: Campos, Santos and Camamú

The foreign companies operating are:

9 Shell with: Ostra, Abalona, Nautilus, Atlantis, Argonauta and Oliva fields ;

9 Hydro-Anadarko with Peregrino field ;

9 Chevron with Frade field ;

9 Devon with Polvo field ;

9 El Paso with: Lagosta and Piraú fields for gas production.

 General Data BM – S – 11
PETROBRAS
TUPI AREA

9 Petrobras (65%), BG (25%), Petrogal – GALP (10%)

9 Heterogeneous layered carbonates – variable reservoir quality
9 Water Depth about 2,200m
9 Salt layers with thickness till 2,000m
9 Reservoir depths between 5,000 and 6,000m
9 Reservoir thickness above 80m
9 Well tests indicate potential flow rates of 15-20,000 bopd per well
9 Oil API: 28 – 30o
9 Oil viscosity around 1cP
9 GOR between 140 and 220 m3 / m3
9 Initial pressure 580 kgf / cm2
9 Low TAN (Total Acid Number)
9 CO2 in the associated gas (8 – 18%)
9 Concern with flow assurance due to parafinn deposition in pipes
OFFSHORE RIGS - PETROBRAS
TOTAL FLEET: 74 UNITS

JACK-UPS: 06

MOORED SEMISUBMERSIBLES: 18

DP SEMISUBMERSIBLES: 31

DP DRILLSHIPS: 19

IN THIS TOTALS WE HAVE UNDER CONSTRUCTION

TO BE DELIVERED UP TO 2012:

MOORED SEMISUBMERSIBLES: 01

DP SUBMERSIBLES: 16

DP DRILLSHIPS: 12
OFFSHORE RIGS - IOCs
TOTAL FLEET: 8 UNITS PERIOD UP TO 2011

SHELL: 01 MOORED SEMISUBMERSIBLE - GSF ARTIC I

DEVON: 01 DP DRILLSHIP - DEEPWATER DISCOVERY

ANADARCO: 01 DP DRILLSHIP - DEEPWATER MILLENIUM

01 MOORED SEMISUBMERSIBLE - SOVEX

REPSOL:
01 DP DRILLSHIP – STENA DRILLMAX

EXXON: 01 DRILLSHIP – WEST POLARIS

BG: 01 MOORED SEMISUBMERSIBLE – CELTIC SEA

CHEVRON: 01 DP SEMISUBMERSIBLE – SEDCO 706

* FOR THE IOCS – THE OFFSHORE SUPPORT VESSELS COME WITH THE SPREAD OF THE DRILLING RIG.
OFFSHORE VESSELS - PETROBRAS
100 Foreigner Flag Vessels
TOTAL FLEET: 182 82 Brazilian Flag Vessels

PSV 3.000 & 4.500 34 PSV 1.500 & 1.000 41

PSV BK 1 TS 4
AHTS 18.000 10 AHTS 15.000 9
AHTS 12.000 15 AHTS 10.000 5
AHTS 7.000 9 OSRV 5
LH + UT 30 CREW BOAT 9
PLSV 4 RSV 4
DSV 2 182
OFFSHORE VESSELS UNDER CONSTRUCTION

28 VESSELS UNDER CONSTRUCTION

PSV 16
UT 40.000 2

VESSELS
AHTS 5
MPSV 2
LARGE MPSV 1
OSCV 1
PLSV 1
 Opportunities
PETROBRAS
Including Santos Basin Pre-Salt
PROJECTS ALREADY ANNOUNCED ON AN 8 + 8 YEAR CONTRACT

9 146 ships to be built in brazil for production & drilling suport

at an estimated cost of us$ 5 billion by 2014.
9 An initial bid is already underway and calls for contracting 24 offshore
vessels.
9 Seven bids will be held in six years.
9 Types & quantities of vessels:
PSV 3.000 49 AHTS 15.000 10
PSV 4.500 15 AHTS 18.000 46
OSRV 1.000 18 AHTS 21.000 8
9 28 DP Deepwater semisubmersibles or drilling ships to be built in Brazil.
9 The bids will go out in the second semester.
9 Estimated cost of US$ 28 Billion.
DOF GROUP IN BRAZIL

STATUS
 ACTUAL CONTRACTS
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
VESSEL BUILT TYPE CLIENT
BRAZILIAN
SKANDI YARE FLAG 2001 PSV OIL REC - FIFI PETROBRAS

NORSKAN COPACABANA 2005 AHTS 18000 PETROBRAS

NORSKAN BOTAFOGO 2006 AHTS 18000 PETROBRAS

SKANDI FLUMINENSE 2007 AHTS 18000 PETROBRAS

SKANDI RIO 2007 AHTS 18000 PETROBRAS

NORSKAN FLAMENGO 2003 PSV PETROBRAS

SKANDI LEBLON 2005 PSV OIL REC - FIFI SHELL

SKANDI SALVADOR 2008 RSV CHEVRON

BRAZILIAN
SKANDI HAV FLAG 1983 OSRV PETROBRAS

PRO-23 2009 PLSV PETROBRAS

SKANDI SUBSEA SUPORTER 2010 PLSV PETROBRAS

EMPLOYEES

Office - Rio 17
Base - Macaé 22

Vessels 309

Building Team 6

DOF Subsea do Brasil 60

TOTAL 414
GROUP´S STRUCTURE

DOF ASA

DOF SUBSEA
NORSKAN AS
ASA

DOF
DOF SUBSEA DOFCON DOF NAVEGAÇÃO
BRASIL NAVEGAÇÃO
NAVEGAÇÃO

RESEARCH
SPECIAL CONVENTIONAL VESSEL´s
&
VESSELS´ VESSELS´ MANAGEMENT
ENGINEERING´s
COMPANY COMPANY COMPANY
COMPANY

NorSkan Copacabana NorSkan Flamengo

DOFTECH HULL 22
Skandi Rio Skandi Leblon
.
HULL 24
HULL 23 Skandi Fluminense NorSkan Botafogo

50%

TECHNIP
VIII SMS PETROBRAS REWARD
2007´s FIRST PLACE

on BEST SUPPLY OF 53 COMPANIES.

BACIA DE CAMPOS
INSTITUTO
BOLA PRA FRENTE

REALIZED IN 2007

1. EMPLOYMENT OF AN ENGLISH TEACHER / COORDINATOR IN AUGUST.

2. EIGHTY STUDENTS ATTENDING ENGLISH CLASSES.

3. INAUGURATION OF A BUILDING WITH 7 CLASSROOMS & 2 BATHROOMS IN NOVEMBER.

FUTURE ACTIONS
1. INCREASE OF ENGLISH STUDENTS (160).

2. PURCHASE OF NEW EQUIPMENTS FOR THE BUILDING.

3. IMPROVEMENT OF THE EXISTENT IT´s STRUCTURE.

4. SEPT 2008 – BEGIN OF PROFESSIONAL RATING COURSES FOR MERCHANT MARINE.

 CIAGA REALIZED 2007
1. CREATION OF AN OFFSHORE ASSOCIATION (AEPM) ON NOVEMBER, WHICH MEMBERS ARE:
2. NORSKAN / DOF, BOS, NORGES REDERIFORBUND, TEEKAY, BW, BARBER, OSM.
3. EMPLOYMENT OF A COORDINATOR.
4. SELECTION OF 44 CADETS, OF WHICH 6 WILL BE EMPLOYED BY NORSKAN.
5. FOUR TEACHER REPRESENTATIVES OF CIAGA IN ALESUND ON DECEMBER
VISITING THE SIMULATOR CENTER.

FUTURE ACTIONS 2008

1. LOBBY WITH POLITICIANS TO INCREASE THE NUMBER OF STUDENTS.

2. COMPLEMENTARY ENGLISH COURSE BEGINNING JAN 08.

3. SIX SPECIALIZED COURSES FOR OFFSHORE VESSELS BEGINNING JULY 08.

4. SELECTION OF 120 STUDENTS TO BE CADETS, OF WHICH 12 WILL BE EMPLOYED BY NORSKAN.

5. STUDY THE POSSIBILITY OF HAVING 50 BRAZILIAN STUDENTS FORMED IN ALESUND.

6. ANALYZE THE FEASIBILITY OF BRINGING AN OFFSHORE SIMULATOR TO CIAGA´S FACILITIES .

 OUR FLEET
BOOK X MARKET VALUE
(USD 1,000) Purchase Booked Market
Value Value Value

AHTS
NorSkan Copacabana 46,500 41,000 80,000
NorSkan Botafogo 49,000 46,000 95,000
Skandi Rio 50,000 48,000 91,000
Skandi Fluminense 54,500 53,000 100,000

PSV
NorSkan Flamengo 17,000 13,500 37,000
NorSkan Leblon 18,000 15,000 37,000

TOTAL 235,000 216,500 440,000

INSTITUCIONAL VIDEO

NORSKAN OFFSHORE
 Thank You!
DOF GROUP IN BRAZIL