eoc limited corporate presentation march 2011. disclaimer this material includes forward-looking...
TRANSCRIPT
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EOC LIMITED CORPORATE PRESENTATION
MARCH 2011
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DISCLAIMER
This material includes forward-looking statements prepared by EOC Limited (“Company”). The opinions, forecasts, projections or other statements other than statements of historical fact, including, without limitation, estimates of proved reserves of oil and gas, reserves potential and plans and objectives of management of the Company for financing, are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. All forward looking-statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Each forward looking statement speaks only as of the date of this presentation. Neither the Company nor any of its subsidiaries and associates undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this presentation.
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PRESENTATION AGENDA
EOC GROUP PROFILE
INTRODUCTION
FINANCIALS &
FORWARD STRATEGY
EOC – Construction & Production
Construction Activities
FPSO Experience
EMAS – Who We Are
Year-on-Year Financials
Growth Mechanics
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Engineering
& Fabrication EMAS AMC
MARINEConstruction
& Production
EMAS GROUP SERVICES
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BUSINESS SEGMENTS CONSTRUCTION & PRODUCTION
Floating Production Storage & Offloading Systems
Provision of Turret & Mooring Systems
Production
Construction Offshore Transport & Installation
Offshore Heavy Lift Operations
Jacket Launching Operations
Heavylift & Pipelaying
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AREAS OF OPERATIONS
INDIA
QATAR
AUSTRALIA
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Description No of Vessels
Accommodation Crane Barge 2
Derrick Accommodation Pipelay Vessel 1
FPSO 2
EOCL ASSETS
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Lewek Conqueror (BVI) Ltd
Accommodation Construction Barge
Delivered 2004
Lewek Chancellor Shipping Pte Ltd
• Accommodation Construction Barge• Delivered Mar 2007
Lewek Champion Shipping Pte Ltd
• Accommodation Construction Pipelay Barge
• Delivered Aug 2007
Lewek Emerald Shipping Pte Ltd
• FPSO• Delivered Dec
2008
Emas Offshore Construction and
Production Pte Ltd Contract/
Commercial Mgmt
Operations and Execution
Lewek EversureShipping Pte
Ltd
Lewek Evershine
Shipping Pte Ltd
Emas Offshore Production Services (Vietnam) Pte Ltd
• FPSO• Expected
Delivery Mid-2011
GROUP STRUCTURE
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CONSTRUCTION ACTIVITIES
Riser Stalk-on in DP
Piling
Jacket and Topside Installation
Pipelay
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LEWEK CHAMPION
Vessel Specifications
Accommodation 358 - 500
Overall length 142m
Breadth 40m
Deck strength 17t / sq.m
Thrusters 6 x 2400 kw
CraneHeavy Lift - 800t @
30m radius
HelipadSuitable for Sikorsky
S92
DP2 Pipelay & Heavy Lift Construction Vessel
• S-Lay pipe-laying capabilities
• 3 double-joint, 6 single-joint welding stations
• 2 x 100 tonnes tensioners
• 6” – 60” Outer diameter pipeline
• 800 - 1500m water depth operation
• Built 2007
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Lewek Conqueror Lewek ChancellorAccommodation 308 men 290 menOverall length 100m 91.44mBeam 30.48m 27.43mDepth 7.29m 6.71mDraft 4.6m 4.5mCrane 250T @ 30m radius 220T
Helipad 22.2m x 27.5m 15.24m x 15.24 m
Mooring system
8 point 8 point
Flag Panama Commonwealth of
Dominica
Class ABSLloyd's Register of
Shipping
• Large accommodation capacity
• Lifting capability for offshore construction and maintenance of oil and gas platforms
• Built for Construction and Work over
• 8 Point Anchor-mooring system
ACCOMMODATION BARGES
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Floating Production Storage & Offloading (FPSO) and FSO
Operations and Maintenance of FPSO and FSO
EPC mooring systems – in collaboration with LMC
Services
Assets
PRODUCTION
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Overall length, m 263.7
Breadth, m 40.8
Depth moulded, m 22.2
Gross Tonnage, tons 63,101
Dwt (tropical) 127,540
Lightweight, tons 18,661
Storage 725,000 bbl
Export Gas 175 MMSCFD @ 2000 psig, 50oC
Condensate 6500 bbl / day
FPSO LEWEK ARUNOTHAI
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Overall length, m 290.4
Breadth, m 50.6
Depth moulded, m 23.8
Gross Tonnage, tons 94,647
Dwt, tons 188,101
Lightweight, tons 29,457
Oil Production, bpd 50,000
Water Injection, bpd 60,000
Export Gas 45 MMSCFD @ 190 bar, 50oC
FPSO LEWEK EMAS
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Chim Sao FPSO
Lewek Arunothai
Lewek Champion
Lewek Chancellor
Lewek Conqueror
CONTRACT COVERAGE
Till July 2017
Till Oct 2012
Till Mar 2014
Dec2009
Jun2010
Dec2010
Jun2011
Dec2011
Jun2012
Dec2012
Till Dec 2011
Till Feb 2012
Brunei
Thailand
Vietnam
Thai
Mal/Thai
Mal
India Congo
Thailand
FirmNegotiation
PNG
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FORWARD STRATEGY
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17
1138
24
6
131
1
1
2
37
11
Current and Future FPSO
New Focus - Africa
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FORWARD GROWTH STRATEGY
• Expand Geographic Spread – Africa
• Extend presence in Asia.
• Build O&M service offering for FPSO
• Leverage on EMAS group capabilities for integrated services
• EPC mooring systems - LMC
• Construction – AMC
• Fabrication
• Acquire technology company
• Strategic alliances/M&A activity
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FINANCIAL TRACK RECORD
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FINANCIAL HIGHLIGHTS
FY2007 FY2008 FY2009 FY2010
Revenue US$'000 32007 109996 71655 113333
EBITDA 17947 42653 34230 53430
PAT US$'000 11352 25289 21122 20753
$10,000
$30,000
$50,000
$70,000
$90,000
$110,000
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Need Clarifications?
For further information, please contact:
Email [email protected]+65 6590 8028
www.emasoffshore-cnp.com
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THANK YOU
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APPENDIX
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HEALTH, SAFETY, ENVIRONMENT & QUALITY (HSEQ)
Executive Management commitmentto HSEQ
Achieved goal of 0 LTI.
Emas Offshore’s Quality Systemis certified to ISO9001:2008 by Lloyds Register.
Description 2008 2009 2010
LTI 0 0 0
LTI Frequency Rate 0 0 0
Total Recordable Injuries (TRIs)
5 5 2
Total Recordable Injury Frequency Rate (TRIFR)
4.0 2.2 3
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• Anchor Handling Towing/ Supply
• Bulk & Deck Cargo Transportation
• Crew & Supply Transportation
• Fire Fighting Standby & Rescue
• Remotely Operated Vehicle Support
• Deep Sea Diving Support
• FPSO/FSO Towing, Installation of Moorings
• FPSO Mobilisation/ Decommissioning
MARINE
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SURF Installation IMR Services DecommissioningWell Intervention
2 MFSVsHeavy Lift DP3 Well Intervention Subsea Construction Vessel
Heavy Lift DP3 Well Intervention Subsea Construction Vessel II
SUBSEA SERVICES
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AKER MARINE CONTRACTORS
• ENGINEERING– Naval Architecture– Hydrodynamic Analysis– Structural Analysis & Engineering– SURF Analysis & Engineering
(SURF – Subsea, Umbilicals, Risers and Flowlines)
• OPERATIONS– Client interface– Engineering interface– Logistics– Procedure development– Procurement– Project Execution– Support for Vessel Superintendents
• ASSIST WITH TENDERING – early engineering including feasibility checks
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Aker Marine Contractors, Slide 28
FLOATERS FLOATOVERREMOVALSURF
■ Jubilee FPSO Transport and Installation (W. Africa)
■ Skarv FPSO Transport and Installation (North Sea)
■ Gjøa Semi Marine Installation (North Sea)
■ Thunderhawk (GoM)■ Adriatic LNG (GBS) (Adriatic
Sea)■ Blind Faith T&I (GoM)■ Chestnut (North Sea)■ KuMaZa Mooring and Riser
Installation (PEMEX)■ Sakhalin (Russia)■ BAOBAB FPSO Mooring and
Installation (W. Africa)■ Kristin Semi (North Sea)
■ Shenzi (GoM)■ Blind Faith Subsea (GoM)■ Na Kika (GoM)■ King (GoM)■ Oudna Field Dev. (Tunisia)■ Oseberg Delta Structures (North
Sea)■ Langeled SSVS & Risers (North
Sea)■ Chinguetti Host Installation
(Mauritania)■ Norne Satellite (North Sea)■ Snøhvit Structures (North Sea)■ Thunder Horse (GoM)■ Macando (GoM)■ Gladden (GoM)■ Popeye (GoM)■ Tamar (Mediterranean)
■ Angel (SE Asia)■ Bayu-Undan (SE Asia)■ Kristin (North Sea)
■ Frigg Cessation (North Sea)■ Ardmore SAL Mooring Removal
(North Sea)■ Maureen Refloat (North Sea)■ Downed Platform (GoM)
● Chevron● Noble Energy
AKER MARINE CONTRACTORS
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ENGINEERING & FABRICATION
• Access to engineering design expertise located in London.• Two fabrication facilities in Vietnam providing design and
provision of mooring systems for FPSOs and FSOs.
Industry’s first-ever converted FSRU TurretBiggest turret designed by LMC
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Acquisition of Aker Marine Contractors
Established HQ in Houston for Americas Subsea and Well
Intervention activities
Listing of EOC on Oslo Stock Exchange
Acquired Saigon Fabrication Shipyard
Singapore IPO
Incorporation of EMAS Offshore
2009
2007
2005
2003
1992
2010/11
EMAS – CORPORATE MILESTONES