Key recent events EBITDA of USD 47.7 million BW Pioneer conversion nearing completion Operational performance 100.0% Berge Okoloba Toru sold Signed Letter of Intent for Papa Terra FPSO for Petrobras Signed contract for 2xSAL…
Q3 2009 FLOATING PRODUCTION 19 November, 2009 4
Operations Excellent production uptime Production uptime Q3 2009: 100.0% 100,0 99,0 98,0 BW Cidade de So Vicente 97,0 Successful performance through first 96,0 95,0 six months in operation 94,0 93,0 Preparations for operations…
BW Pioneer Conversion nearing completion in Singapore 93% per 31 October 2009 Preparations for operations in US GOM according to plan Houston and Huma offices manned Operations crew have moved into the vessel FPSO ready for…
Papa Terra FPSO LoI received from Petrobras 7 October 2009 BW Offshore in JV with partner QUIP EPC contract for the delivery of the FPSO Three year FPSO operation contract Engineering started under a Petrobras allowance BW…
Floating production contracted cashflow 2007 2010 2015 2020 2025 Sendje Berge Nigeria: Sinopec 2011 (2013) Berge Helene Mauritania: Petronas 2013 (2021) Yum KakNab Mexico: Pemex 2022 (2025) BW Cidade de So Vicente Brazil:…
APL status Final stage of several advanced technology contracts Peregrino, Cascade & Chinook Capacity adjustment process completed Outlook is positive Order inflow started to pick up Several named prospects being worked 450…
APL technology SAL system has become the de facto standard for offshore oil loading terminals in harsh environment 11 systems delivered since introduction in 1997 More than 400 million barrels exported through the systems…
Q3 2009 FINANCE 19 November, 2009 12
Floating Production segment Stable financial and operational performance Operating expenses are gradually being reduced Completed several pendent issues Berge Okoloba Toru sold Received full payments from Equator Energy AMC…
Technology segment Ongoing projects are progressing according to schedule Full provisions for capacity adjustments have been charged in Q3 Lower short term activity level USD million Q3 09 Q2 09 Q3 08 2008 Operating revenue…
Income statement USD million Q3 09 Q2 09 Q3 08 2008 Operating revenue 116.6 114.9 114.8 474.3 Operating expenses -71.2 -85.1 -95.8 -433.8 Share of profit from associates 2.3 2.0 -1.6 -45.7 Impairment charge of associates 0.0 0.0…
Balance sheet Equity ratio 39.7% (42.6% adjusted for CIRR financing*) million Book value of equity USD 928 million (Price/book 0.65) Net interest bearing debt USD 870 million USD million 30.09.09 30.06.09 31.12.08 Total…
Cash status Cash at 30 September 2009 USD 42.4 million 1500 Remaining capex is USD 100 million 1250 Received additional variation orders (VO) 1000 750 Remaining cash payments to BW Offshore for VOs and milestones are USD 160…
Q3 2009 FUTURE 19 November, 2009 18
Market Oil price has been stable and high through budgeting period Capacity on supply side Costs coming down Increasing confidence in new developments Competition is benign Realism and sanity in terms and conditions Deepwater…
Key priorities Continuous focus on high quality operations Excellence in project execution Conduct accretive projects to grow the company 19 November 2009 20
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