Skip to main content Q3 2011 CONFERENCE CALL – Bw Offshore Investor Presentation | Shale Experts
Loading...
Pm

Q3 2011 CONFERENCE CALL – Bw Offshore

Bw Offshore · Nov 18, 2011 · 30 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 1
    BW Offshore Q3 2011 presentation 18 November 2011
  2. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 2
    Highlights Q3 2011 EBITDA of USD 76.7 million Ningaloo Vision uptime 99.3% Successfully delivered the FPSO OSX 1 project Selected for two FPSO FEED studies Dividend of USD 0.04 per share for Q3 2011 Source: OSX 18 Nov…
  3. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 3
    STATUS
  4. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 4
    Operations Fleet uptime Production uptime 100.0% Q3 2011 uptime of 96.2% 98.0% 96.0% 5 year average uptime is 98.5% 94.0% 92.0% 90.0% Ningaloo Vision resumed production 88.0% in August 86.0% 84.0% 82.0% Uptime of 99.3% in…
  5. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 5
    Fleet U ni t T yp e C o nt r act 2 0 0 9 2 0 10 2 0 11 2 0 12 2 0 13 2 0 14 2 0 15 2 0 16 2 0 17 2 0 18 2 0 19 2 0 20 2021 2022 2023 2 0 24 2025 Sendje Berge FPSO Lease Addax/ Sinopec, Nigeria: 2005-2013 Berge Helene FPSO Lease Pet…
  6. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 6
    FPSOs under construction I BW Athena at Drydocks World, Dubai Progress 95% at end October Completing full revision of existing process plant Turret system delivered and installed by client at field Completed UK Safety Case Crew…
  7. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 7
    FPSOs under construction - II BW Joko Tole at Sembawang Shipyard, Singapore Progress 80% at end October All modules integrated Finalizing piping and cable scope Preparations for installation campaign is progressing according to…
  8. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 8
    EPC projects - I P-63/Papa Terra at COSCO Dalian Shipyard, China Progress 85% at end October BW Offshores scope at yard is expected to be completed early 2012 The JV has decided to extend the yard stay in China by 5 months to…
  9. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 9
    EPC projects - II FPSO OSX 1 Sail away from Singapore to Rio end August BW Offshores main scope is completed Client has requested limited additional services in relation to commissioning and start-up activities Singapore, August…
  10. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 10
    FINANCE
  11. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 11
    Key takeaways EBITDA of USD 77 million Negative FX effects No profit recognised for the Papa Terra project OSX project completed Tankers BW Ara and M/T Takama sold in September Total proceeds USD 36 million, financial gain USD 15…
  12. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 12
    P&L USD million Q3 11 Q2 11 Q3 10 2010 Operating revenue 216.1 228.6 139.0 549.3 Operating expenses -138.9 -141.7 -59.7 -382.2 Share of profit from associates -0.5 0.0 -16.4 -14.8 EBITDA 76.7 86.9 62.9 152.3 Depreciation -46.9…
  13. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 13
    Balance sheet Equity ratio 35.5% Net interest bearing debt USD 1,693.3 million USD million 30.09.2011 30.06.2011 31.12.10 Total non-current assets 3 369.9 3 345.5 3 287.4 Assets of disposal group held for sale 7.1 7.1 7.1 Total…
  14. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 14
    Secure cashflow Run rate EBITDA of existing contracts is USD 500 million Long term contracted cash flow with strong counterparties Order book of USD 7.8 billion in revenue Average contract length is 10 years including options (firm…
  15. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 15
    OUTLOOK
  16. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 16
    Strong demand at improved terms Strong demand in all markets More than 200 potential FPSO projects evaluated by clients world-wide High activity in all regions Limited number of active FPSO companies Track record in engineering,…
  17. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 17
    Expected FPSO demand next 5 years 30 25 Less than USD 500 million Total number 105 Between USD 500 and 1,000 million Larger than USD 1,000 million 50 18 Nov ember 2011 18
  18. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 18
    Selected opportunities next 12 months Project Name Operator Country Indicated award Western Isles FPSO Dana UK-North Sea Q1 2012 Brazilian Blocks FPSO Petrobras Brazil Q2 2012 Santos FSO & Terminals BG Brazil Q2 2012 Siri FPSO…
  19. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 19
    Summary Contracted cash flow from existing assets Order book of USD 7.8 billion with an average contract length 10 years Quarterly dividend payments Current yield at 9.6% Strongest demand ever Target list of 13 selected prospects…
  20. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 20
    Q&A
  21. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 21
    18 Nov ember 2011 22
  22. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 22
    APPENDIX 18 Nov ember 2011
  23. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 23
    Units on contract in operation Sendje Berge, FPSO Sinopec, Nigeria 60,000 bpd oil processing 55 mmscfd gas compression 2,000,000 bbls storage Spread mooring Yum KakNab, FPSO Pemex, Mexico 600,000 bpd oil handling 200,000…
  24. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 24
    Units on contract in operation Belokamenka, FSO Sovkomflot, Russia 2,400,000 bbls storage Cargo heating system Spread mooring BW Pioneer, FPSO Petrobras, US 80,000 bpd oil processing 25.6 mmscfd gas export 600,000 bbls…
  25. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 25
    Units on contract in operation Ningaloo Vision, FPSO Apache, Australia 63,000 bpd oil processing 80 mmscfd gas compression 620,000 bbls storage Disconnectable turret Espoir Ivorien, FPSO CNR, Ivory Coast 40,000 bpd oil…
  26. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 26
    Units on contract in operation Umuroa, FPSO AWE, New Zealand 50,000 bpd oil processing 25 mmscfd gas compression 775,000 bbls storage Turret mooring Abo, FPSO Agip, Nigeria 44,000 bpd oil processing 44 mmscfd gas…
  27. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 27
    Units on contract in operation Azurite, FDPSO Murphy, Congo 40,000 bpd oil processing 18 mmscfd gas compression 1,400,000 bbls storage Spread mooring Cidade de So Mateus, FPSO Petrobras, Brazil 35,000 bpd oil processing 353…
  28. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 28
    Units on contract - project OSX 1, FPSO - completed OSX, Brazil 42,000 bpd liquid processing 40,000 bpd oil processing 60,000 pbd w ater injection 53 mmscfd gas compression 950,000 bbls storage Turret mooring BW Joko Tole…
  29. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 29
    Units on contract - project P-63 (Papa Terra), FPSO Petrobras, Brazil 2,200,000 bbls storage capacity Ex BW Nisa (ULCC) 18 Nov ember 2011 30
  30. Q3 2011 CONFERENCE CALL – Bw Offshore – slide 30
    Further information: www.bwoffshore.com IR contact: Kristian Flaten, Vice President IR and Corporate Finance kristian.flaten[a]bwoffshore.com 18 Nov ember 2011 31

From the store

Browse maps, data & reports in the Shale Experts store