Sevan Marine ASA Presentation of third quarter results 2014 Hotel Continental, Oslo, 19 November 2014 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 Third quarter highlights Floating Production (FPSO, FSO, FLNG) Other Applications (Drilling, Accommodation) Investments (KANFA, KANFA Aragon) Financials Outlook 3
Highlights Still high activity within the FPSO/FSO market segment Prospecting related to several projects: Bream (Premier), Penguins (Shell), Sea Lion (Premier), Bentley (Xcite) and Culzean (Maersk) Significant market attention for…
Highlights contd Operations and financial position Operating revenue of USD 25.2 million was USD 2.2 million lower than last quarter. EBITDA was positive with USD 1.5 million, which is USD 0.3 million higher than previous quarter…
Contents Third quarter highlights Floating Production (FPSO, FSO, FLNG) Other Applications (Drilling, Accommodation) Investments (KANFA, KANFA Aragon) Financials Outlook 6
Floating Production Other Applications Investments Sevans core technology FPSO FSO FLNG 7
Floating Production Other Applications Investments Sevan FPSOs: Ongoing projects Goliat Western Isles Field operator: ENI Field operator: Dana Petroleum Location: Sub-arctic Barents Sea Location: North Sea, UK Hull size: Sevan…
Floating Production Other Applications Investments Sevan FPSOs: Main prospects Bream Penguins Sea Lion Field operator: Premier Oil Field operator: Shell Field operator : Premier Location: North Sea, Norway Location: North Sea, UK…
Floating Production Other Applications Investments Sevan FPSOs: Other FPSO opportunities SEVAN FDPSO SEVAN SCR FPSO FWPSO Concept study completed on Study proposal prepared for Study proposal prepared to a Sevan FDPSO. a…
Floating Production Other Applications Investments Sevan FSOs: Main prospects Bentley Culzean Field operator : Xcite Field operator : Maersk Location: North Sea, UK Location: North Sea, UK Hull size: Sevan 1000 Hull size: Sevan…
Floating Production Other Applications Investments Sevan FLNG and Offloading concepts Sevan FLNG Unit The concept has been developed on a generic basis as far as we want at this stage. Further development will be in connection…
Contents Third quarter highlights Floating Production (FPSO, FSO, FLNG) Other Applications (Drilling, Accommodation) Investments (KANFA, KANFA Aragon) Financials Outlook 13
Floating Production Other Applications Investments Proven technology: Sevan designed Drilling Units Sevan Driller Sevan Brasil Sevan Louisiana Sevan Developer Field operator: Petrobras Field operator: Petrobras Field operator: LLOG…
Floating Production Other Applications Investments Proven technology: Sevan designed Accommodation Units Three Accommodation Units under construction Six FAU Options with the Cosco Shipyard Teekay Offshore Partner has completed…
Contents Third quarter highlights Floating Production (FPSO, FSO, FLNG) Other Applications (Drilling, Accommodation) Investments (KANFA, KANFA Aragon) Financials Outlook 16
Floating Production Other Applications Investments KANFA Studies/FEED Process Eq. Packs. Process Modules Process Optimization A process technology company focusing on providing process equipment packages and modules as well as…
Floating Production Other Applications Investments KANFA 60 employees 49% 51% Currently involved in the execution and delivery of process equipment packages for projects like Edvard Grieg, Piranema, 100% 54.3% Aasta Hansteen,…
Floating Production Other Applications Investments KANFA Aragon A process technology company focusing on FLNG as well as traditional gas processes Patented FLNG liquefaction process based on an optimized dual nitrogen expander…
Floating Production Other Applications Investments KANFA Aragon 50% 30 employees Has designed the 2.4 mtpa topside for 50% the Sevan FLNG concept Involved with the dehydration (TEG) and vapour gas recovery packages for the…
Contents Third quarter highlights Floating Production (FPSO, FSO, FLNG) Other Applications (Drilling, Accommodation) Investments (KANFA, KANFA Aragon) Financials Outlook 21
Q3 2014 Profit & Loss statement Unaudited figures in USD million Q3 14 Q2 14 Q3 13 Comment Q3 vs Q2 Reduced revenue in KANFA partly Operating revenue 25,2 27,4 26,1 offset by increased revenue in Sevan Reduced margin in KANFA…
Q3 2014 Balance Sheet Unaudited figures in USD million 30.09.2014 30.06.2014 31.12.2014 30.09.2013 Comment Intangible assets 13 13 13 13 Goodwill KANFA Deferred income tax assets 8 8 8 8 Loan 50 60 60 51 Loan to Logitel Other…
Contents Third quarter highlights Floating Production (FPSO, FSO, FLNG) Other Applications (Drilling, Accommodation) Investments (KANFA, KANFA Aragon) Financials Outlook 24
Outlook Generally positive for the FPSO/FSO market segment High number of prospects in advanced phases (i.e. Pre-Feed, FEED) provides for cautious optimism regarding activity level in Sevan Increased focus on cost effective solutions…
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