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Plano negocios inglês_final_apresentação


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Plano negocios inglês_final_apresentação

  1. 1. Execution Plan 2011-2015 JULY 2011
  2. 2. DISCLAIMERThis document contains statements and information about the Company that reflect the current views and/or expectations of theCompany and its management with regard to its business plans. These include all statements containing forecasts and projectionsor that indicate or imply future results, performance or achievements, which may include such words as "believe", "predict","expect", "contemplate", "will probably result", or any other words or expressions of similar meaning. Such statements are subjectto a series of risks, uncertainties and assumptions. Readers are warned that several important factors may lead actual results tosignificantly diverge from the plans, targets, expectations, estimates and intentions expressed herein. Under no circumstancesshall the Company or its directors, officers, representatives or employees be liable to any third parties (including investors) shouldthey make decisions, investments or business acts based on information and statements presented herein, nor shall the Companybe liable for any indirect damages, loss of profit, or similar consequences thereof. The Company does not intend to provideshareholders with any revised versions of the statements or analysis of differences between the statements and actual results.Investors should thoroughly analyze the Reference Form of OSX, available on the Company´s website, including the risk factorsidentified therein. This presentation does not contain all the necessary information for a complete investment assessment on theCompany. Investors shall produce their own assessments, including the associated risks, before making an investment decision. 1
  3. 3. AGENDA Introduction Product Portfolio Shipbuilding Unit (UCN) Order book Development plan Next Milestones 2
  4. 4. Introduction 3
  5. 5. OSX - Profile Integrated supplier of equipment Organizational Structure and services for the exploration and production of oil and gas. Publicly held Company, listed on the Novo Mercado, BM&FBovespa´s highest standard of corporate governance, with R$ 2.4 billion raised at the IPO in March 2010. Enjoys a very favorable market scenario given strong expansion of the oil and gas industry in Brazil, products and services demanded by OGX and local content rule implemented by ANP. Exploration and Production Equipment (E&P)  Build  Acquire and  Operate  Charter  Tripulate and  Maintain Offshore oil and gas industry (O&G) 4
  6. 6. OSX – History • Acquisiton of 2 • OGX order for 3 new VLCCs to be FPSOs converted into • FPSO OSX-3 contract FPSOs OSX-4 and • FPSO OSX-2 with Modec OSX-5 contract with SBM • Beginning of GDR • Issuance of the Level I Program Installation License for UCN Açu • Hiring of Credit • IPO: R$ 2.4 billion • UCN Açu Financing Suisse as Market • Strategic Maker - FMM Cooperation 3T11 Agreement with • Issuance of the OGX Preliminary License for UCN • Technical Açu Cooperation Agreement with • LOI with Techint, Hyundai WHPs 1 and 2 • OSX-1 Leasing • OSX-1 2T11 Contract Financing • Beginning of the licensing • Acquisition of 1T11 process at FPSO OSX-1 UCN Açu OSX´s 4T10Creation 3T10 2T10 1T10 3T09 4T09 5
  7. 7. OSX - PillarsStrong Demand from • 48 units of offshore E&P equipment = US$ 30 billion OGX • Upside potential with expansion of OGX´s exploratory campaign Attractive Market • Expected increase of oil and gas resources to 100 billion boe Conditions in Brazil • Announced investments of US$ 140 billion • Approximately 70% of local content required in equipment and Local Content services for the offshore O&G industry Requirement • Key for Brazil´s job creation and economic development Strategic Partnership • World shipbuilding leader with Hyundai Heavy • State-of-the-art technology and transfer of know-how Industries • More than 38 years of experience Training (Naval • Partnerships with technical schools and universities • Absorption of Korean technology Technology Institute - • Qualification of 7,800 people by the end of 2013 ITN) • Contract signed with Firjan in July 2011 Incentivized and • More than 30 years experience, on average, in the E&P sector Experienced • US$ 30 bn in projects and more than 50,000 people under management Management Team 6
  8. 8. Product Portfolio 7
  9. 9. Portfolio FPSO TLWP • Floating Production Storage and • Tension-Leg Wellhead Platform Offloading platform • Suited for deep water • Hull: conversion of oil tanker or new-build WHP TANKERS • Navigation transportation unit• Wellhead Platform or fixed drilling and production platform • Demand for long course navigation units, cabotage, relievers and production platforms• Suited for shallow-water DRILLSHIPS • Drilling unit for exploration • Heavily demanded in ultra-deep water 8
  10. 10. FPSO Construction Floating, Production, Storage and Offloading platformsFloating unit used by the industry to produce, store and transfer oil ConstructionBased on a new hull or on the conversion of an existing oil carrier Construction Phases1) Conversion1 2 Definition: Preparation and overhaul of a VLCC to receive the modules for processing oil and gas.22) Integration Definition: Assembly and commissioning of a set of modules aboard the 3 converted hull.33) FPSO ready to process oil 9
  11. 11. WHP Construction Wellhead PlatformFixed platform anchored to the seabed, appropriate for water depths under 300m. Construction Phases1) Steel tubes gathered in a structure forming the face of the jackets. 1 42) By joining the faces, the jacket 1 is built. In parallel the topside + drilling package is built.3) After the jacket is built and ready, it is shifted to a barge, known as the2 load-out process, so that the jacket may be transported to the 3 installation place.4) The installation barge has a tilting system that launches the jacket into 2 the sea and with a naval crane it is placed in the correct vertical position.5) The Topside + Drilling Package 3 arrives at the installation place on a barge. There are two installation options, lifting and float-over.6) With the topside + drilling package on the jacket, the WHP 4 is fully built and the tests of commissioning begins. This step consists the end of the installation and equipment on board. 10
  12. 12. Shipbuilding Unit (UCN) 11
  13. 13. UCN – Licensing Schedule EIA/RIMA Installation LicensePresentation (LI) Issuance Jan-11 Fev-11 Jul-11 Oct-10 Jun-11 Preliminary License Public (LP) Issuance Beginning of Meetings Construction 12
  14. 14. UCN – CONSTRUCTION: CAPEX Capex Distribution / Year: Total Capex US$ 1.7 billion Capex Distribution by Activity (million): OSX LLX Dredging and Engineering US$ 212 US$ 90 Break Water US$ 135 US$ 129 Quay US$ 262 - Merchant Marine Buildings US$ 339 - Fund Dry Dock US$ 133 - ≈ (80% of the total) Roads and Paving US$ 146 - Equipment and Others US$ 487 - Total: US$ 1,933 US$ 1,714 US$ 219 13
  15. 15. UCN Financing: Merchant Marine Fund Financing approved by the board of directors of the merchant marine fund Credit facility may reach R$ 2.7 billion Total tenor range from 18 to 20 years with a grace period of up to 3 years and interest rates that vary in between US$ + 2% to US$ 4% per year Lending Agents: BNDES, Caixa Econômica Federal, Banco do Brasil, BNB and Banco da Amazônia 14
  16. 16. UCN – Construction: Schedule of the packages Receipt of Packages Contracting Mobilization Proposals Installation LicenseVegetation Supression March-11 2Q11 IssuanceGround preparation May-11 3Q11 3Q11North Quay and WHP area June-11 3Q11 4Q11Drydock June-11 3Q11 4Q11South Quay and Respective Retro Area June-11 3Q11 4Q11Industrial Buildings April-11 3Q11 4Q11Utilities and Infrastructure May-11 3Q11 3Q11Administrative Buildings (LEED) July-11 1Q12 1Q12Administrative Buildings (Non LEED) Sepetember-11 4Q11 1Q12Electromechanic Assembling August-11 1Q12 2Q12Support December-10 2Q11 2Q11Contractor houses April-11 3Q11 3Q11 15
  17. 17. UCN – Construction: Highlights 16
  18. 18. UCN – Occupation of slots by FPSOs Slot Delivery Vessel Arrival Delivery by the UCN Slot 1: 1Q13 OSX-4: 2Q13 OSX-4: 2Q14 Slot 2: 2Q13 OSX-5: 3Q13 OSX-5: 4Q14 Slot 3: 2Q13 OSX-6: 3Q13 OSX-6: 4Q14 * Slot 4: 3Q13 OSX-7: 4Q13 OSX-7: 4Q14 * Slot 5: 4Q13 OSX-8: 4Q13 OSX-8: 1Q15 * Slot 6: 1Q14 OSX-9: 2Q14 OSX-9: 3Q15 * * Subject to new orders from OGX Slot 3 Slot 4 Slot 5 Slot 1 Slot 2 Slot 6 17
  19. 19. UCN – Occupation of slots by WHPS Slot Delivery Beginning of Assembling Delivery by the UCN Area 1: 4Q12 4Q12 WHP-3: 3Q13 * Area 1: 4Q12 4Q12 WHP-4: 4Q13 * Area 1: 4Q12 4Q12 WHP-5: 4Q13 * Area 1: 4Q12 4Q12 WHP-6: 4Q13 * Area 2: 1Q13 1Q13 WHP-7: 1Q14 * Area 2: 1Q13 1Q13 WHP-8: 2Q14 * Area 2: 1Q13 1Q13 WHP-9: 3Q14 * * Subject to new orders from OGX Area 1 Area 2 18
  20. 20. Order Book 19
  21. 21. Firm order book – US$ 4.8 billion Estimated CAPEX Equipment Production Capacity Delivery* (US$ MM) FPSO OSX-1 80K Bopd 610 3Q11 FPSO OSX-2 100K Bopd 775 2Q13 FPSO OSX-3 100K Bopd 800 3Q13 FPSO OSX-4 100K Bopd 850 - 900 2Q14 FPSO OSX-5 100K Bopd 850 - 900 4Q14 WHP-1 **30 wells 400 - 450 1Q13 WHP-2 **30 wells 400 - 450 2Q13 Total 4,685 – 4,885• Delivery by the UCN (ex installation)•** 18 wells for production, 10 wells for water injection and 2 wells for gas injection 20
  22. 22. Firm order book – Status Equipment Status Final customization phase at Singapore. Sail Away Ceremony, August FPSO OSX-1 13th FPSO OSX-2 Contract signed with SBM Offshore. Delivery by the shipyard in 2Q13 FPSO OSX-3 Contract signed with Modec. Delivery by the shipyard in 3Q13 FPSO OSX-4 and Vessels acquired. First FPSOs to be integrated at the UCN FPSO OSX-5 WHP-1 Contract signed with Techint. Equipment to be constructed at the site in and Pontal do Paraná WHP-2 21
  23. 23. Development Plan 22
  24. 24. Project Accelerators1. Equipment Standardization Reduce delivery timetable through long-term agreements with suppliers Standardize 70% of main equipmentKey Systems 1 Other Systems Water injection  Water harvesting Cargo handling 1  Compressed air Gas compression 2  Fire Fighting System Energy generator 2  Tubing and Accessories Supervisory System  Oil processing Anchoring System 3  Treatment of produced water Offloading System 3 23
  25. 25. Project Accelerators2. OSX Flex Engineering Process oils of different characteristics (different API degree, gas/oil ratio, water/oil ratio) Flex engineering used from FPSO OSX-2 onwards 24
  26. 26. Project Accelerators3. WHP´s Standardization Optimization of assembly and construction Designed to operate in a range of water depths4. Sister Vessels Reduction in project timeframe and conversion costs Accelerate the learning curve both in operation andmaintenance FPSOs OSX-4 and OSX-5 25
  27. 27. ITN – Naval Technology InstituteMission As a leading institution specialized in naval training in Brazil, provide OSX Brazil withpersonnel, technology and innovative solutions for its products and processes in the areasof shipbuilding and offshore operationsMain Objectives Training of workers (superior, technical and basic levels) Development of innovative engineering projects Mobilization of suppliers (new equipment and/or materials) Absorption of technology (agreement with Hyundai) Partnerships with reference institutions (companies and universities) 26
  28. 28. ITN – Naval Technology InstitutePhase I - Objectives Qualification of up to 3,100 technical personnel in 23 functions (welders, assemblers,electricians and mechanics, among others) through the end of 2012 Utilization of facilities and instructors from SENAI Scholarships that provide financial assistance, food and transportation Beginning of classes scheduled for 4Q11 Estimated budget: R$ 12.7 million SENAI Campos SENAI São João da Barra SENAI MacaéPhase I – Qualification and Training Contract OSX & FIRJAN - Qualification of personnel for the UCN Technology Cooperation Agreement OSX & HYUNDAI - Training program designed for technical and supervisory roles 27
  29. 29. ITN – Naval Technology Institute Phase I – Recruiting Areas Aprox. Work City Population distance forceSão João da Barra 20 KM 6,000 33,000Campos 40 KM 92,000 460,000Radius Up to 50 KM 98,000 493,000Quissamã 75 KM 3,000 20,000São Francisco 95 KM 3,000 41,000São Fidelis 100 KM 5,000 37,000Macaé 130 KM 113,000 206,000Radius 2 Up to 150 KM 222,000 797,000 28
  30. 30. ITN – Naval Technology InstitutePhase II – On the Job trainingProposed activities: Training, technical assistance and operation supervision with Hyundai: - 40 specialists from Hyundai in Brazil for 5 years - 80 supervisors from the UCN at Hyundai shipyard in Ulsan, Korea(4 groups: Aug. 2012 through April 2014) Implementation of the ITN at UCN Açu - Approximate area of 1,800 m2 Bibliotecas Salas de aula - Offices, laboratories, classrooms, auditorium, library Implementation of systems that simulate operations of offshore units Sala de simulação 29
  31. 31. ITN – Naval Technology InstitutePhase III – Strengthening of the Supply ChainProposed action: Identify, together with the procurement department, potential suppliers to develop newmaterial, equipment and innovative work methods that are of interest of OSX.Phase IV – Technology InnovationProposed action: Establish partnerships with academic institutions, both Brazilian and international, inorder to develop and assimilate technology 30
  32. 32. Certifications Mandatory Strategic 31
  33. 33. Next Milestones 32
  34. 34. Next milestones Arrival of FPSO OSX-1 in Brazil and first oil Conclusion of financing for FPSO OSX-2 Financing for FPSO OSX-3, WHP-1 and WHP-2 Beginning of Construction WHP-1 and WHP-2 Contract for engineering of FPSOs OSX-4 and OSX-5 OGX orders Orders from other clients 33
  35. 35. Investor Relations Contacts RI@OSX.COM.BR +55 21 2555 6914