2015 Pareto Oil & Offshore Conference 2 Sep. 2015 - Oslo ... · 2015 Pareto Oil & Offshore...

2015 Pareto Oil & Offshore Conference – 2 Sep. 2015 - Oslo Norway Bart Heijermans - CEO

Navigating the crowded high seas

Forward-Looking Statements

This presentation contains certain statements that may be deemed to be “forward-looking

statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A

of the Securities Act and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All

statements, other than statements of historical facts, are forward-looking statements. These include

statements that address activities, events or developments that the Company expects, projects,

believes or anticipates will or may occur in the future, general industry conditions, future results of

the Company’s operations, capital expenditures, asset sales, expansion and growth opportunities,

financing activities, debt repayment and other such matters. These forward-looking statements

generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”

“strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will

likely result,” and similar expressions. Although the Company believes that its expectations stated

in this presentation are based on reasonable assumptions, actual results may differ materially from

those expressed or implied in the forward-looking statements. The forward-looking statements are

subject to a number of known and unknown risks and uncertainties, including the performance of

contracts by suppliers and customers; delays, costs and difficulties related to customer projects;

actions by governmental and regulatory authorities; operating hazards and delays; employee

management issues; local, national and worldwide economic conditions; uncertainties inherent in

the exploration for and development of oil and gas; complexities of global political and economic

developments; volatility of oil and gas prices and other risks. Each forward-looking statement

speaks only as of the date of this presentation, and the Company undertakes no obligation to

publicly update or revise any forward-looking statement.


www.deepoceangroup.com 1


From last year’s DeepOcean presentation at Pareto Conference…



2015 SAIL AMSTERDAM – SAIL IN

Navigating the high seas

Could have been worse….

2015 SAIL Amsterdam

Brief introduction to DeepOcean – a subsea services company


Survey &

Seabed Mapping

Seabed

Intervention

Subsea

Installation IMR Decommissioning

Service lines


A leading provider of integrated subsea services

Focused on the lower risk subsea service niches with

inherent day-rate nature of contracts

Revenues predominantly exposed to end-user OPEX

budgets

A market leader in diverless subsea IMR in the Greater

North Sea

A global leader of trenching services

Recognized global brand for relentless customer focus

and operational excellence having operated in the sector

since the 1990s

0.92 0.83 0.65

1.08

0.25

2,24 2.09

2.46 2,51

1,49

0

1

2

3

4

2011 2012 2013 2014 2015

LTIF TRIF

Lagging Indicators YTD (as of 31/07/2015)

Per 1.000.000 hours

Safety




Owned: 6

Chartered:11 (+2 in’16)

37 ROVs

3 ROVs ordered for

delivery in 2015/2016

2 AUVs

5 ploughs

7 jet trenchers

4 mechanical cutters

Human Resources ROVs / AUVs Trenchers & Ploughs Vessels

~1,250 employees

~100 full time agency

personnel /

contractors

11 offices in 7

countries Other Assets

Module handling

systems (3 off)

Geotechnical rig

Excavators / dredgers

Mattress frames

ROV tooling

Ownership

Private Company

Financial Investors

Largest owner ~16%

of shares

2014 Financials

$635 million revenue

$86 million Adj.

EBITDA

10% ROCE

YE $22 million net

debt and LR < 0.25

Norway

UK

Netherlands

Germany

Mexico

Brazil

Ghana

Malaysia

Current Operations


Company Factsheet

Confidential – Not for Public Dissemination

Current Operations and offices


Arbol Grande

Deep Endeavour

Edda Flora Edda Fauna Deep Vision Volstad Surveyor

Northern Wave

Volantis

Maersk Recorder

Office locations

Deep Investigator

Long term ROV operations on:

North Sea Giant (North Sea Shipping)

Normand Ferking (Solstad)

CBO Isabella (CBO)

Atlantic Challenger

Note: Walker1 not included and Northern Wave is cold stacked

Rem Ocean

Havila Phoenix

Chartered

Owned

Rem Forza Tau

Go Pegasus Deep Helder


Subsea weld NDT Scale squeeze

Our Services


Pipeline Validation

IMR

FPSO Thruster Replacement Replacement of flexible risers Diverless Operations



Our Services

Laser and Sonar Survey

Survey

Survey of manifold using ROV mounted laser

AUV Ops in Brazil


Mattress installation

Vietnam

Our Services


XMAS Tree installation on

TEN Project in Ghana

Installation of turning

bollards on

Shell Malakai Project

Installation

Installation and burial of ~535km of cables and

umbilicals on Snorre PRM Project

Cable installation on Valhall Project


Gassco H7 platform removal

Our Services


Removal of Statfjord Loading Buoy


Decommissioning


Offshore Renewables and Interconnectors

Commissioning IMR Trenching Installation

Installation of power

cable

Trenching with PT1 in

German market

Onshore tests PCP2

Anode installation

Annual Survey

Havila Phoenix



Framework Agreements in GNS

Offshore Renewables and Interconnectors Projects Africa

Foundations

Operations in Mexico & Brazil

Largest fleet of cable lay and trenchers Successful start in Ghana

IMR, Survey and installation services IMR, survey and installation services



Offshore Renewables and Interconnector cables

Forecasted cumulative fully commissioned

offshore capacity NW Europe (GW) Planned HVCD Interconnectors

Route Surveys Cable Burial Cable Installation IMR

Ou

r S

erv

ice

s

2015 2024

10 GW

35 GW

UK

G

erm

an

y

Ne

the

rla

nd

s



Most powerful track and buoyant trenchers

Picking the right tool for the job

T3200 UT1

5 off

Pipeline

Cable

7 Off

ROV

Track

Ploughs Jet trenchers Mechanical

4 Off

ROV

Track



Cable Installation Vessels


Maersk Connector with 7,000 te. carrousel

Maersk Recorder Havila Phoenix Volantis Edda Freya

2,000 te. Carrousel 3,000 e. Carrousel Cable tanks

AUV3000 with HISAS capabilities

started operations on Libra project

in Brazil

Increased number of smart

mattress installation frames

AUV Operations

Innovation


Subsea Laser Data Acquisition

and 3D visualization

Superior Survey ROV

Light Completion Intervention System

A multipurpose tool for installing, testing

and operating subsea equipment such as

XT’s, Choke Modules and Manifolds

Optime Subsea Services AS


Installation

Survey


DeepOcean

Developments

Industry Industry

Consolidation

Horizontal AND vertical

collaboration

Standardization

Innovation

Cost deflation and

change of work

practices

Proper risk sharing

Retirement of old

vessels and cease

building new vessels

What likely will happen….

Fewer contractors and

more lay-offs

Asset transfers from

overleveraged companies

to stronger companies

More vessels..

Vessels under construction

New orders because of

cheap NOK, hungry yards

and construction financing

Horizontal integration

Risk transfer from

customers to contractors

Reducing cost

Rebalance asset

portfolio. Right to release

5 vessels in 2016. Shrink

before growth

Continue focus on

innovation to increase

productivity and lower

cost

Secure more work in

offshore renewables and

interconnector markets

Grow IMR2 and survey

Identify distressed assets

What should happen..


Safety of all employees and other stakeholders

Liquidity

Cost deflation

Innovation

Operational excellence

To close contracts with total value in excess of $250 million in 3Q2015



Our focus

DeepOcean is well positioned to weather the prolonged downturn due to its (i) client base,

(ii) diversification of service offers and end markets and (iii) balance sheet

Join the discussion on LinkedIn:

www.linkedin.com/company/deepocean More than 25,000 followers

Follow DeepOcean Group on Twitter

@deepoceangroup

www.deepoceangroup.com

http://www.youtube.com/deepoceanonline

Q&A



http://www.linkedin.com/company/deepocean

2015 Pareto Oil & Offshore Conference 2 Sep. 2015 - Oslo ... · 2015 Pareto Oil & Offshore...

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Transcript of 2015 Pareto Oil & Offshore Conference 2 Sep. 2015 - Oslo ... · 2015 Pareto Oil & Offshore...