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Transcript of BACC Ship Finance_2
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7/26/2019 BACC Ship Finance_2
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PETROBRASOpportunitiesfor
theOffshore
Industry
June18,2013
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DISCLAIMER
The presentation may contain forward-looking We undertake no obligation to publicly update
FORWARD-LOOKING STATEMENTS
of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended, that are notbased on historical facts and are not assurances offuture results. Such forward-looking statements
or revise any forward-looking statements,whether as a result of new information orfuture events or for any other reason. Figuresfor 2013 on are estimates or targets.
mere y re ec e ompany s curren v ews anestimates of future economic circumstances,industry conditions, company performance andfinancial results. Such terms as "anticipate",
"believe", "expect", "forecast", "intend", "plan","project", "seek", "should", along with similar or
All forward-looking statements are expresslyqualified in their entirety by this cautionarystatement, and you should not place relianceon any forward-looking statement containedin this presentation.
analogous expressions, are used to identify suchforward-looking statements. Readers are cautionedthat these statements are only projections and maydiffer materially from actual future results orevents. Readers are referred to the documents filedby the Company with the SEC, specifically the
NON-SEC COMPLIANT OIL AND GASRESERVES:
CAUTIONARY STATEMENT FOR US INVESTORS
Companys most recent Annual Report on Form 20-F, which identify important risk factors that couldcause actual results to differ from those containedin the forward-looking statements, including,among other things, risks relating to generaleconomic and business conditions includin crude
,
such as oil and gas resources, that we are notpermitted to present in documents filed withthe United States Securities and ExchangeCommission (SEC) under new Subpart 1200 toRegulation S-K because such terms do not
oil and other commodity prices, refining marginsand prevailing exchange rates, uncertainties
inherent in making estimates of our oil and gasreserves including recently discovered oil and gasreserves, international and Brazilian political,
,reserves under Rule 4-10(a) of Regulation S-X.
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InvestmentsintheCountryCatalyzetheShipbuildingandOffshoreIndustry:
US$
107.6
billion
Refining, Transportation and CommercializationUS$ 71.6 billion
Exploration and ProductionUS$ 131.5 billion
2.9(4%)
3.5(5%)
1.0(1%)
21.1(16%)
31.2(44%)16.3
5.6(8%)
25.4(19%)
US$83.6.
(21%)
12.117
89.9(68%)
.
Petrochemicals
Expansion of FleetExpansion of Refining Park
Operational improvementProduction Development
Biofuels
Allocation of National Oil
Compliance with Internal MarketInfrastructure and Support
Exploration
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Constructionof132Units:DrillingRigs,Stationary
ProductionUnits(SPU)andTankers
Priority: OIL PRODUCTION, Brazil: 2.022 4.200 mbpd
38 SPU by 2020: 65% < Local Content < 80%45 Rigs by 2020: 15 without local content 3
2SPU
bpd)
30 with 55% < Local Content < 70%
49 Tankers by 2020: 65% < Local Content < 74%7
SPU
8SPU
7Rigs
2Rigs
4.200ctionCurve(
1/1
SPU
3/7SPU
3SPU
1SPU
SPU
7
7Rigs
5Rigs
2
5
Tankers
6Tankers
ndNGLProdu
10/104/42/2Rigs
1/1Rig
88
Tankers
5Tankers
Tankers
2.500
2,022
Oil
1 Tanker3/3Tankers 3
TankersTankers
(4 unitsdelivered
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
(1 unitdelivered) (11) (11) (9) (23) (20) (16) (17) (10)
delivered)
delivered)
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MajorShipyardsandGantriesw/TradeRelationswithPetrobras
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MainShipyardsinBrazil
Flexibilityinconcessionagreements
MarMediterrneoPartners:CamargoCorraandQueirozGalvo(since2005)
TechnologyPartner: Ishikawajima
Atlntico Sul (PE)
UnitUnderConstruction:
P62
Contracts:
6drillingrigs(Sete Brasil)
Onwnership /Technology:KeppelFELS Singapore(inBrazilsince2000)
RecentUnitsbuilt:P57,P56andFPSOCidade deSoPaulo
UnitsUnderConstruction:
FPSOCidade de
Paraty
Contracts:
6drillingrigs(Sete Brasil)
Modulesintegrationofthe
FPSOs forthePresalt
Partners:EcovixEngevix
(created in2010)
UnitsUnderConstruction:
RioGrande
Shipyard
Partners:QueirozGalvo,UTCEngenharia
and Iesa (since 2005)
Recent unit built:P53
Quip
8FPSOHulls(forthePresalt)
P55(Topside)
Contractsfor
3drilling
rigs
(Sete
Brasil)
P55(modulesintegration)
P62
P63
P58
Deckmating
conclusion
performed
by
QUIP
in
Rio
GrandeShipyard.Theoperationwastheheaviest
structureeverliftedintheworld(17thousandtons)6
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MainShipyardsinBrazilNewshipyardsthatwillincreasetheBraziliancapacity
MarMediterrneo 17 new shipyards currently under construction, getting license or
financing approved by FMM (some capable of building platforms, rigs
and tankers)
PetrobrasleasedInhama shipyard to
Companhia Brasileira deDiquesCDB for
20years.
EstaleiroInhauma (RJ)
Partners:Odebrecht,OAS andUTC(70%)
Technology:KawasakiJapan(30%)
Contracts:
EnseadadoParaguau(BA)
Contracts forthe Transfer of Rights (with
Odebrecht,OASand UTC):
P74:hull
P75:hull
P60
6 drillingrigs
Jurong Aracruz ES
Ownership:SembCorp Marine(SCM)from Singapore
ConstructionworksstartedinDec/11.
Ex erience:Sembcor Marinealread o eratesinBrazil
P76:hull
P77:hull
inexisting
shipyards
for
nearly
14
years
,having
built
P
50, P54,P43,P40,P38
Contracts with Petrobras:
7drillingrigs
P74
Source:SINAVAL7
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Rio Grande Shipyard ERG1 - RS
7
5
1
3
3
4
2
Aerial View of the Estaleiro Rio Grande ERG1 - RS (09/03/12).
(1) Ecovix's Sheets Yard; (2) Sub-blocks Yard of Ecovix's replicating hooves; (3) QUIP's modules gantry for topside and integration of the P-55; (4 ) IESA's modules gantry; (5) Pre-constructionarea, with detail to the yellow blocks of Konecranes Goliath type portico (largest crane in the world: 210m span and capacityof 2,000 tons) delivered in Aug/12; (6) Integration work of the P-55;(7) Construction work of Estaleiro ERG 2, where it will be built 3 Setebrasil's Drillships (NS Cassino, NS Curumim and NS Salinas)
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BrasFels Shipyard - RJ
2
3
Overview of Estaleiro BrasFels in Ang ra dos Reis - RJ (31/08/12).(1) P-61 (CL:65%): HULL'S Construction of TOPSIDE's TLWP and integration (deckbox and built modules in Singapore).(2) So Pau lo Ci ty FPSO (CL: 65%): HULL's Conversion in China and integration of the 16 mod., Built in Brasfels (5 mod), Enaval (1 mod), Thailand (8 mod) and China (2 mod).(3) Paraty City FPSO (CL: 65%): HULL's Conversion in Singapore and integration of 15 modules built in the Brasfels (5), Nuclep (4), Enaval (2), and Singapore (4).
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Mau Shipyard - RJ
3
1
Overview of Estaleiro Mau, in Niteri - RJ (08/31/12).
(1) Romulo A lmeida Produc ts Sh ip: Third Lot's Ship of 4 PROMEF 1's products ships (1st Phase), with delivery scheduled for Dec/12;(2) JosAlencar Products Sh ip: Fourth Batch's ship of 4 PROMEF 1s products ships (1st Phase), with delivery scheduled for Mar/13;(3) 1s t Panamax Vessel: Construction, in the Estaleiro Mau dry dock, 1st batch's Panamax Ship of 4 PROMEF 1 ships (1st Phase), with delivery scheduled for Jan/14.
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At lnt ico Sul Shipyard - PE
4
5
2
3
1
Estaleiro Atntico Sul (Ipojuca-PE): Construct ion of t he Zumbi dos Palmares ship in dry dock and integration of P-62 on the shipyard dock (08/29/12).
(1) P-62: Integration of the FPSO to the 15 modules, including 3 built in EAS, 7 in the UTC gantry and 5 in the Nuclep gantry(2) Zumbi dos Palmares SHIP of Suezmax type (2nd Lot's Ship of PROMEF 1) in dry dock; (3)Panel manufacturing workshops and pre-assembly of block,(4) Future area for construction of 7 Setebrasil's rigs ; (5) Future area of Estaleiro Promar, responsible for building the batch of 8 Promef Phase 2's gas tankers.
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AgendaLeased FPSOs for Pre-salt
LulaLula PilotPilotOnOn streamstream sincesince OctOct/2010/2010
Baleia AzulBaleia AzulOnOn streamstream sincesince Set/2012Set/2012FPSO Cidade de AnchietaFPSO Cidade de Anchieta
SapinhoSapinho PilotPilotOnOn streamstream sincesince Jan/2013Jan/2013
a e e o au oa e e o au o
11stst Oil in May/2013Oil in May/2013
FPSOFPSO CidadeCidade dede ParatyParaty
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PetrobrasVesselsCurrentandprojectedfleet
2020StrategicPlanning
FutureDemand(20132020)
CriticalResources
March/13
Situation
FutureSituation
AccumulatedValues(1)
By2017 By2020
TankerVessels(DWTx1000t) 16,000 19,000 24,500 +198LargeSupply+198LargeSupply
LargeSupplyBoats* 216 313 358
ProductionUnits(SSandFPSO) 50 72 84
DrillingRigs
(SWD>2.000
m) 41 44 54
+36Production
Units
+36Production
Units
(1) Thefuturesituationof2020doesnotreflectthesumofthecurrentsituationwithfuture
demand,astherearevesselswhosecontractsexpireby2020.Thisdemandmayberevised
asnecessary.
(2) FutureDemandincludeshireddemand,demandsinhiringphaseandyettobehired
demand.
+28DrillingRigs+28DrillingRigs
Significantequipmentdemandmapping:
Historicall im orted e ui ment with otential to attract orei n su liers
Source:Transpetro;PNG201317;Petrobras(E&PSERV/USCONTandABLO/TM)
Equipmentproducednationallybutwithpotentialbottlenecksinproductioncapacity
*AHTS,ORSV,PSV
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DrillingRigsFleetincreaseby2020
+14
Drillin ri sconsidered orthe
PetrobrasDrillingRigsStartupTimeline
Equipmentdemandnot
yetaddressedforthe28drillingrigstobedelivery
equipmentdemandanalysis
Exampleofequipmentwith
potentialfornationaldevelopment
28DerrickStructure
+7
+8
28Travelingequipment
28ChokeandKillManifold
28setsofRisers
28BOP(parcial)
+4
+4
+5
se s e r ca ys em
168MainDieselGenerators(parcial)
28Emergencygenerators
84DeckCranes
168Azimut Thrusters
+1
2,716Pumps
840HVACSystem
28Accomodation
Source:Petrobras;Sinaval *Beingnegotiated.EstimatewillbeconfirmedatthecontractsigningBrazilAbroad
ConstructionSite
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TankerVesselsFleetincreaseby2020
PetrobrasFleetGrowthProgramwith
BrazilianVessels
PROMEFIand
IIPROMEF
Iand
II EBN
Iand
IIEBN
Iand
II
49Vesselsby2020 39Vesselsby2017
4 deliveredVesselsand21Vesselsinadvancedstageof
12Products
8LPG
3Bunkers
14Suezmax
8Aframax
4Panamax
26Products
6Bunker
7LPG
2 Vessels in advanced sta e o constructionconstruction
24Vesselsinhiringphaseorinitial
constructionphase
24Vesselsinhiringphaseorinitial
constructionphase
37Vesselsinhiringphaseorinitial
constructionphase
37Vesselsinhiringphaseorinitial
constructionphase
Exampleofequipmentwithpotentialfornationaldevelopment
Equipmentdemand
not
yet
addressed
for
61
Vessels
(by
2020)
Source:Transpetro;Petrobras(ABLO/TM)
acuum ewage ys ems
53InertGasGenerationUnit
72LifeBoats+Davit
1.830AccomodationCabines
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LargeSupplyVesselsFleetincreaseby2020
AHTSAHTS
CurrentPetrobrasFleet Quantity FutureDemand
+
198
Large
Supply
Vessels
by2020OSRVOSRV
MaintenenceTOs+DMAs+NewProductionUnits
Instalation+FPSO`sandNTsOperation
MaintenenceTOs+DMAs+NewProductionUnits
Instalation+FPSO`sandNTsOperation
36
(almostthesamequantityasthecurrent
fleet 216)
Oi RecoveryOi Recovery
PSVGeneralCargo+Oil +Bulk+Cement
PSVGeneralCargo+Oil +Bulk+Cement 125
Exampleofequipmentwithpotentialfornational
development
TSTugs+OilRecovery
TSTugs+OilRecovery
21
SOSStandby+HandlingSpy(messenger)SOSStandby+HandlingSpy(messenger)
SVSV
30
4
198Offshore
and
Provision
Cranes
198VacuumSewageSystems
396RescueBoats
Source:E&PSERV/USCONT
UT/PEmergencyCargo/Passenger
UT/PEmergencyCargo/Passenger 38
, anua pera e a ves
44,550tonofPiping
4,800ton
of
Fitting
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Information:
Investor Relations
+55 21 3224-1510
.
www.petrobras.com.br/ir
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