Floatel International February 2013 presentation

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  • 1. Floatel International The next generation floatels for world wide operations FEBRUARY 2013
  • 2. Floatel International o Floatel International owns and operates a fleet of offshore accommodation and construction support vessels. The company was established in 2006. o Floatel International is jointly controlled by affiliates of Keppel Corporation and Oaktree Capital Management. o The philosophy of the Company is to provide new semi submersible accommodation vessels (floatels) to the market and to offer professional floatel services to the oil and gas industry. o Floatel’s fleet currently consists of two dynamically positioned vessels in operation and two dynamically positioned vessels under construction: o Floatel Superior – delivered March 2010, a DP 3 semi submersible accommodation vessel specially designed for operations in harsh environment such as the North Sea, including Norwegian sector. Floatel Superior is presently committed to Statoil, Norwegian sector. o Floatel Reliance - delivered October 2010, a DP 2 semi submersible accommodation vessel designed for medium harsh environment. Floatel Reliance is presently committed to Petrobras. o Floatel Victory is under a turnkey construction contract at Keppel FELS Shipyard in Singapore and is due for delivery in November 2013, at which point it will commence its first of two already contracted projects. o Floatel Endurance is under a turnkey construction contract at Keppel FELS Shipyard and is due for delivery in January 2015 and is contracted to Chevron Wheatstone project starting Q1 2015. 2
  • 3. Floatel International Ltd - Corporate Structure Floatel International Ltd (Parent Company) Bermuda 100% 100% 100% 100% 100% 100% Floatel Superior Ltd Floatel Reliance Ltd Floatel Victory Ltd Floatel Endurance Ltd Floatel International AB (Vessel Owner) (Vessel Owner) (Vessel Owner) (Vessel Owner) (Marine Manager) Bermuda Bermuda Bermuda Bermuda SwedenFloatel Superior BV Floatel Reliance BV Floatel Victory BV Floatel Endurance BV (Contractor) (Contractor) (Contractor) (Contractor) Service Agreements The Netherlands The Netherlands The Netherlands The Netherlands Reliance Servicos Maritimos Do Brasil Ltda Brazil To be formed 3
  • 4. Floatel International Ltd - Shareholders Brief overview of Oaktree Shareholder summary • Oaktree’s mission is to provide highly professional Asset class USD billion Shareholder Shares (m) % management with a primary emphasis on risk control in Corporate debt $21.9 Affiliates of Keppel Corporation 50,6 47,2% a limited number of sophisticated investment Convertible securities 7.4 Affiliates of Oaktree 45,7 42,6% specialties Distressed debt 27.3 Other 12,1 11,3% Control investing 16.5 • Oaktree specializes in less efficient markets and Real estate 5.0 alternative investments, and has extensive experience, Listed equities 0.6 broad product range and substantial assets under $78.7 management Note: As of June 30, 2012. • Oaktree is dedicated to the achievement of consistent and superior performance without high risk • www.oaktreecapital.com Brief overview of Keppel Corp. • Keppel Corp. is the global leader in offshore rig $5.0 $4.5 $4.4 design, construction and repair, ship repair and conversion, and specialized shipbuilding $4.0 • Keppel Corp. invests in selected niche areas USD $bn $3.0 • The investment activities have had significant success stories, including Singapore Petroleum $2.0 $0.9 $1.1 sold to PetroChina in 2009 $1.0 • In addition to Floatel, they own stakes in Dyna- Mac, a topside module fabricator and have started $0.0 2010 2011 a ship owning company in Brazil which will offer PSVs on bareboat charter or sale Revenue Operating profit • www.keppelom.com Note: SGD/USD = 0.79 4
  • 5. Floatel International AB – Line OrganisationManagement Team CEO P. Jacobsson QA P. Darland COO CFO N. Mårtensson TBN Technical Mgr HSEQ Mgr Fleet Mgr New Building Finance Mgr Legal Counsel C. Benson P. Darland O. Wahl Projects J. Bengtsson D. Wästerström Purchasing Mgr HR Mgr Charter Projects H. Lindström M. Vikman 5
  • 6. Board Members Mr. Chia is the Managing Director Keppel Offshore Marine Ltd and Deputy Chairman Keppel Integrated EngineeringMichael Chia Ltd. He started his career in Keppel FELS in 1980 and has held several appointments in Yard Management, CorporateChairman Planning, Marketing and Commercial and General Manager Operations. Mr Chia holds a B Sc in Naval Architecture and Marine Engineering, University of Newcastle-Upon-Tyne. He is a Singapore citizen and resides in Singapore. Mr. Fairbanks is Managing Partner of Global Energy Capital. He is a board member of Vortex Ventures, ODS-Jonathan B. Fairbanks Petrodata. He was previously president of Bassøe Offshore (USA) Inc, as well as board member of Forum OilfieldDeputy Chairman Technologies, Chiles Offshore, Hercules Offshore, Scorpion Offshore and Seajacks International. He is a US citizen and resides in Houston, USA Mr. Ford is a Managing Director of Oaktree Capital Management, L.P. and Co-Portfolio Manager of Oaktree’s GlobalJim Ford Principal Strategy. Before joining Oaktree in 1996, Mr. Ford was a consultant with McKinsey & Co. and a financialDirector analyst in the Investment Banking Department of PaineWebber Inc. Mr. Ford holds a BA in Economics from the University of California and an MBA from the Stanford University Graduate School of Business. Mr Lai is the Senior General Manager of Corporate Development for Keppel Offshore & Marine Ltd. He is responsibleChing Chuan Lai for business development activities within the KOM group worldwide. Mr Lai holds a B Sc in Naval Architecture &Director Shipbuilding from the University of Newcastle-upon-Tyne, UK and a MBA from the National University of Singapore. He is a Singapore citizen and resides in Singapore.Edmund Mah Mr Mah is General Manager (Finance) of Keppel Offshore & Marine Ltd. He is responsible for the financial and management reporting, budgeting profit and cashflow monitoring for the Keppel Offshore & Marine Group. Mr MahDirector holds a Bachelor of Economics and Business Administration (MBA). He is a Singapore citizen and resides in Singapore. Mr. Pierce is a Senior Vice President at Oaktree Capital Management, L.P. Prior to joining Oaktree in 2003, Mr. PierceAdam Pierce served as a Financial Analyst in the Investment Bank at JP Morgan Chase & Co., gaining experience on a range ofDirector advisory and financing assignments. Prior thereto, he worked for Goldman, Sachs & Co. Mr. Pierce holds a BA degree in Economics with a focus on Business Administration from Vanderbilt University. Ms. Rice is a Vice President within Oaktree’s Global Principal Strategy. Since joining Oaktree in 2009, she has beenAmy Rice integral in leading the Group’s efforts in the healthcare and shipping sectors. Ms. Rice holds an AB degree in BiologyDirector magna cum laude with highest honors from Harvard College and an MBA from the Wharton School at the University of Pennsylvania. She is a US Citizen and resides in Los Angeles, USA. 6
  • 7. Management Team 30 years of experience within the offshore industry - CEO of Consafe Offshore, various managementPeter Jacobsson positions at Safe Offshore, management positions at Subsea 7, Halliburton Subsea, Rockwater andCEO GVANils Mårtensson 30 years of experience - Project Manager at Consafe Offshore, Project Manager at GVA on severalCOO large offshore projectsN.N TBACFOJörgen Bengtsson 20 years of experience - Financial Manager at Consafe Offshore and PNB, management positionsFinance Manager within Skanska GroupOskar Wahl 12 years experience in the offshore industry and shipping. Previous positions include: Safety ManagerFleet Manager at Tarntank Rederi AB, Design Engineer Stability & Weight Control at GVA 30 years of experience within the shipping & offshore industry – Navy officer, Chief Engineer,Claes Benson Superintendent Swedish maritime Administration, Superintendent OSM, Fleet Manager TransAtlanticTechnical Manager and Operations Manager Consafe MSV 30 years of experience in the offshore and shipping industry. Previous positions include: Senior VicePer Darland President, Risk Management at Prosafe Production and Prosafe Offshore, as well as various seniorHSEQ Manager management positions at Safe Service, Consafe/Safe Offshore and Kockums Shipyard, Sweden 7
  • 8. Floatel International Organisation Location Employed Under recruitment Gothenburg Head office - Sweden 31 9 Bergen Site Office - Norway 5 0 Macae Site office – Brazil 6 0 Floatel Victory Site office – Singapore/China 12 4 Floatel Superior – Marine Crew 93 - Floatel Reliance – Marine Crew 82 - TOTAL 229 13 8
  • 9. Floatel International – HSEQ Report Floatel Reliance November 2012 9
  • 10. Floatel International – HSEQ Report Floatel Superior November 2012 10
  • 11. Floatel Superior - Delivered March 2010Key Features – Harsh Environment unit for worldwide operations – 440 cabins, all single bed cabins – 50 office work stations – Approved free fall life boats and emergency shutes – Workshop and warehouse facilities for construction support – Deck area 2 200 m2 Floatel Superior alongside Oseberg Field Centre – Payload 2 700 metric tonnes – Offshore crane support – Telescopic gangway 38m, +/- 7,5m – Positioning systems: o DP 3 positioning system o 8 point mooring (8x2000m, 3” wire, MBL 490 MT) o POSMOOR V ATA Floatel Superior alongside Njord FPU, offshore Trondheim 11
  • 12. Floatel Reliance - Delivered October 2010Key Features – Medium harsh environment unit – 500 bed accommodation capacity – 50 office work stations for Company exclusive use – 200% life saving capacity Floatel Reliance alongside Cherne 1, Campos Basin – Workshop facilities for construction support – Deck area 1 300m2 – Payload 1 500 metric tonnes – Offshore crane support, main crane 120 MT lifting capacity – Telescopic gangway 36m, +/- 6m telescopic action – DP 2 positioning systems Floatel Reliance alongside P 50, an FPSO located in Campos Basin 12
  • 13. Floatel Victory – Under constructionDelivery Nov 2013 Fixed price, turn key construction contract Key Features – Designed for harsh environment – DP 3 positioning systems – 10 point chain mooring system – 500 bed accommodation capacity – 40 office work stations for Client use – 200% life saving capacity – Workshop facilities for construction support – Deck area 1 300m2 – Payload 2 000 metric tonnes – Offshore crane support, main crane 120 MT lifting capacity able to reach adjacent installation – Telescopic gangway 38m, +/- 7,5m telescopic action Floatel Victory, due for delivery Q4 2013 13
  • 14. Floatel Endurance – Under constructionDue for delivery January 2015Fixed price, turn key construction contractKey Features (Based on Floatel Superior design) – Harsh Environment unit for worldwide operations – 440 cabins, all single bed cabins – 50 office work stations – Approved free fall life boats and emergency shutes – Workshop and warehouse facilities for construction support – Deck area 2 200 m2 – Payload 2 700 metric tonnes – Offshore crane support – Telescopic gangway 38m, +/- 7,5m – Positioning systems: Floatel Endurance, due for delivery Q1 2015 o DP 3 positioning system o 10 point chain mooring system o POSMOOR V ATA 14
  • 15. Floatel International Ltd and Floatel International AB Johannefredsgatan 4 431 53 Molndal, Sweden Tel: +46 (31) 352 07 00 Fax: +46 (31) 352 07 01 www. floatel.se Floatel Reliance, Campos Basin