China Oilfield Services Limited Interim Results 2011 20103 August 2011
Disclaimer The information contained in this presentation material is for your reference only. In addition, these information include predictive and forward-looking representations, which reflect the Companys current views…
1 1H 2011 Results Review 2 2H 2011 Business Outlook 3 3
Equipment Capability 31 drilling rigs1+4 module rigs Logging, drilling fluid, directional +6 land rigs+ 2 accom-rigs drilling, cementing, well completion, well workover, well productivity boost etc. 75 working vessels 8 seismic…
Performance of Four Segments Revenue contribution Profit contribution 21% 11% 15% 52% 15% 58% 16% 12% RMB million RMB million 10,000 3,000 159 8,000 738 351 39.1% 413 160.5% 1,193 1,026 1,212 2,000 496 380 6,000…
Drilling Adjusted equipment structure and optimize Utilization rates despite declined slightly, remained the resource allocation for drilling rigs high by industry standards Four 200-feet rigs were added to domestic waters…
Well Services Results declined due to changes in the market Proactively expand into new markets and business to enhance value-added of the segment Tapped an opportunity for the coal-bed gas project and received contracts for…
MS&T Calendar-day utilization rate for self-own fleet up Working vessels 1.3 pp to 96.5% Vessel No. of Calendar-day Vessels utilization rate 100 100% Deployed external resources to maintain market share 80 95% Chartered…
Geophysical Global demand for geophysical services 3D Geophysical km2 rebounded, while China intensified its offshore 12,000 72.7% 1H10 1H11 exploration efforts, driving the growth for 10,000 deepwater exploration 8,000 New…
Overseas Expansion Overseas Business Areas COSL Rigmar renewed its service contract COSL Pioneer commenced operation Operate a wide range of services: Norway 3 drilling rigs, 4 workover barges, integrated well workover system,…
QHSE and Participation in Charity Continued to improve QHSE and SMS systems, completed the annual DNV audits OSHA score at 0.16 Improve emergency management &emergency drills Initiated an emergency plan in Libya immediately and…
Commercialized R&D Licensed a total of 56 patents, of which 9 were innovations. The total number of patents obtained as at the end of June reached 325. Breakthrough in many R&D projects, research outcomes were further applied into…
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Macro Economy and Oil Prices Outlook The global economy is experiencing a slow recovery 10.0% 9.6% 2011GDP 2011 GDP growth forecasts 2012GDP 2012 GDP growth forecasts The global economy is 9.5% 8.0% 8.2% gradually recovering.…
Growth in CAPEX of Global Oil and Gas Companies CAPEX of major clients continue to increase US billion 25 2010E 2011E 20 15 10 5 0 Source: Barclays Capital 2011-2015 Production Growth Target Increases in exploration…
Recovery of the Global Oilfield Services Market Utilization Rate of Drilling rigs Rigs Price Index and Oil Prices Total No. of Rigs Under Under Utilization Rate Day Rate Index WTI Price (Left Axis) Contract (Left Axis) Operation…
Development Blueprint Structural adjustment; Be competitive & professional; Focus on quality growth Technology-driven Cost Leadership Integration Internationalization Reinforce advantages, gradually shift focus to high-end…
Equipment Portfolio Optimization (1) Drilling rig fleet moving from shallow to deep waters Drilling* Operation Depth…
Equipment Portfolio Optimization (2) MS & T* Geophysical* Rig number Rig number 10 10 existing under construction 10 10 existing under construction 50 10 under planning COSL720 40 8 8 8 8 8 30 Including deep water…
Equipment Pipeline and Contract in 2H11 Equipment delivery and operation 2011 2012 Four 200-feet drilling rigs delivered Pioneer to increase operation and commenced operation days Pioneer commenced operation Innovator to…
Growth Drivers: Deep Water Market Three deep water natural gas fields had been verified in China waters, including Liwan3-1, Liuhua 34-2 and Liuhua 29-1. CNOOC plans to explore 2 to 3 deep-water wells in 2011 COSLs deep-water…
Growth Drivers: Output enhancement The large areas of three-low oilfield and thickened oil in China waters will become one of the most important offshore oil and gas resources in the future, providing huge potential for COSLs well…
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Company Overview The only integrated oilfield services company in Asia-Pacific (Parent company CNOOC holds a 53.6% stake, 12.2% are A shares and 34.2% Positioning are H shares) A leading oilfield services provider in the offshore…
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