Sevan Marine ASA Presentation of third quarter results 2012 Shippingklubben, Oslo, November 21, 2012 Presented by: Carl Lieungh, CEO Kjetil Vangsnes, CFO 1
IMPORTANT INFORMATION THIS PRESENTATION AND ITS ENCLOSURES AND APPENDICES (HEREINAFTER JOINTLY REFERRED TO AS THE PRESENTATION) HAVE BEEN PREPARED BY SEVAN MARINE ASA (SEVAN OR THE COMPANY) EXCLUSIVELY FOR INFORMATION PURPOSES. THIS…
Contents Floating Production (FPSO/FSO) Topside and Process Technology (KANFA) Third Quarter Highlights 3
Status ongoing projects (1) FPSO Sevan 1000 for the Goliat Field Sevans FPSO concept selected based on the harsh and sub-arctic Barents Sea environment. Technology license agreement signed in 2009 ENI has licensed the right to…
Status ongoing projects (2) Voyageur upgrade project for the Huntington Field Sail-away of the FPSO Voyageur Spirit from the Nymo yard in Arendal commenced September 30. Hook-up of the 12 anchors on the Huntington field was…
Status ongoing projects (3) FPSO Sevan 400 for the Western Isles Field The Western Isles Project (Dana 65% and Cieco 35%) will develop two oil fields called Harris and Barra in the Northern North Sea, 160km east of the Shetlands.…
Status ongoing projects (4) Concept study for FPSO Sevan 1000 for Skrugard/Havis Field Location Norwegian Barents Sea License partners: Statoil (operator), ENI, Petoro Large similarities with Goliat field development. Sevan…
Hulls No. 4 and No. 5 Hulls No. 4 and 5 Hull No. 4 includes a partially completed accommodation block. Hull No. 5 is less advanced, but the structural steel work is essentially completed. An impairment assessment has been…
Market outlook Concept studies and FEED studies Sevan is currently involved with various tenders for FEED studies. These include redeployment of existing unit (Hummingbird), potential new lease applications (together with 52…
Contents Floating Production (FPSO/FSO) Topside and Process Technology (KANFA) Third Quarter Highlights 10
KANFA targets EPC projects to leverage engineering resources and execution competence Currently 65 (51) employees throughout the KANFA Group. The business model is to i) provide engineering services within the area of liquid- and gas…
Market outlook Engineering studies and Process packages KANFA is currently involved with various 30 tenders for engineering studies (including FEED studies) and process packages. 25 Utility In November a large produced water…
KANFA has an ambition to become a leading processing house Leading processing house Diversified revenue mix (engineering, modules, topsides) Robust financial performance, profitable throughout the cycle Broad geographic…
Contents Floating Production (FPSO/FSO) Topside and Process Technology (KANFA) Third Quarter Highlights 14
Highlights Operations o Revenue and costs in line with management expectations o Net burn rate in Q3 was in the range MUSD 0.0 0.5 per month o Current net burn rate is still in the range MUSD 0.0 0.5 per month Restructuring o…
Q3 2012 Balance Sheet, Equity and Liabilities USDm 30.09.12 30.06.12 30.09.11 31.12.11 Share capital 34,6 34,6 16,6 34,6 Other equity 108,1 103,7 -190,4 87,9 Total shareholders' equity 142,7 138,4 -173,8 122,5 Minority Interest 1,6…
Q3 2012 Financial Highlights Trade and other receivables of USD 38.1m (USD 37.0m) Short Term Receivables Q3 2012 Q2 2012 Variance Trade receivables 22,1 22,8 -0,7 Provision for bad debt 0,0 -0,5 0,5 ONGC 8,0 8,0 0,0 Accrued…
Q3 2012 Financial Highlights Other current liabilities of USD 39.9m (USD 39.6m) Short Term Liabilities Q3 2012 Q2 2012 Variance Trade creditors 2,5 1,7 0,8 Trade accruals 2,2 2,6 -0,4 Hulls 4 and 5 10,4 8,6 1,8 ONGC 1,0 1,0 0,0…
Main Focus Going Forward Voyageur First-Oil Skrugard FEED Study DANA License and Service Contracts Expect signature Q4 Tendering for new concept and FEED studies Full focus on hulls no. 4 and 5 Looking at several…
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