Pareto Securities annual Oil and Offshore Conference 12 September 2012 CEO Scott Kerr
Important information THIS PRESENTATION AND ITS ENCLOSURES AND APPENDICES (HEREINAFTER JOINTLY REFERRED TO AS THE PRESENTATION) HAVE BEEN PREPARED BY SEVAN DRILLING ASA (SEVAN DRILLING OR THE COMPANY) EXCLUSIVELY FOR INFORMATION…
A pure-play ultra deepwater drilling company Sevan Driller Sevan Brasil Sevan Drilling Rig 3 Sevan Drilling Rig 4 From yard end 2009 From yard Q1 2012 Delivery in Q4 2013 Delivery in Q2 2014 In operation for Petrobras In operation…
With a unique and cost efficient design Large load carrying capacity Independent of environmental directionality Low roll and pitch motions Simple structural layout simple to build Lower cost to build and operate Offers a very…
Floating rig market growth Dry exploration wells Discoveries and producing 600 Discoveries and producing fields fields Development risk: Awarded acreage Appraisal, development and Global floating rig drilling demand by field/license…
Most deepwater discoveries still not developed Discoveries of oil and gas deeper than 400 ft by current status Start-up of oil and gas disc. deeper than 400 ft by current status Million boe/decade Million boe/decade 55% of…
The future of deepwater developments Supply of oil and gas will be adequate to meet demand Demand driven by non-OECD Growth All potential sources of supply must be exploited Deepwater and ultra deepwater are key to supply Half of…
Sevan Drilling well fitted with market demand Capable of drilling in water depths Ultra deepwater up to 10,000 feet capabilites Upgradable to 12,000 feet 2.53.0 times deck load capacity of a 6th generation semi-submersible High…
Sevan Driller has proven the rig design In operation since June 2010 Technical uptime and BAD Sonda last 12 months 100% 10 Operations in ultradeep waters Campos Basin (1,800 meters) Santos Basin (2,200 meters) 80% 8 Improving…
Sevan Brasil proves project management and delivery Delivered on time and on budget Accepted in 7 weeks and now operates under a 6 year contract with Petrobras on 24 July Achieved a technical uptime of 100% in August On 90%…
Solid contract coverage and backlog Unit Built Region Client 2012 2013 2014 2015 2016 2017 2018 Sevan Driller 2009 Brazil Petrobras Existing rigs Sevan Brasil 2012 Brazil Petrobras secured on long term Sevan UDW 3 2013 contracts…
Significant revenue potential* Controlled expansion One rig in 2011 Four rigs in 2014 173 108 Corresponding revenue growth 173 From USD 130 million in 2011 to above 164 USD 600 million in 2015 136 145 145 58 Cost control and…
Strategic priorities in Sevan Drilling Lower risk, operational excellence Projected revenue development *) 800 Stable operations for Sevan Driller Dayrates at USD 550k/day Construction of newbuilds on schedule Revenue range…
Sevan Drilling Rig no 3 on schedule 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 10% Probability 90% Probability Actual 49% overall completion Living quarters and drill-floor integrated to the main hull in Q4 All main equipment…
Sevan Drilling Rig no 4 on schedule 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 10% Probability 90% Probability Actual 34% overall completion Erection of lower part of main hull is ongoing Living quarters and drill-floor…
New builds: Marketing considerations Active and broad marketing of new rigs Seeking long-term contracts 3 years or more Preferably with an blue-chip operator Day rates target Reference equivalent to mid-point of Petrobras…
Key investment considerations Risk has been significantly reduced Risk 2011 2012 2015 over the last 12 months Technology High Proven Proven Continued focus on safe and Operational High Medium Low efficient operations Market Medium…
Appendix
Sevan Drilling Low cost efficient design for exploration and development drilling High deck loads Stable motion characteristics Safe and efficient to operate In operation offshore Brazil with two rigs and another two on order…
Cost efficient operations and construction Cost efficient construction 4 similar rigs from same yard Effective design, yet top of the line equipment Significant cost advantage in construction versus both peers and previous rigs…
Summary of global deepwater drivers stage set for growth Global oil and gas deepwater resource inventory 142 Bboe of deepwater resources have been found and developed billion boe globally 591 831 50% has been produced Ultra…
Global discoveries Global discoveries by water depth Discoveries of oil and gas deeper than 400 ft Million boe/decade Million boe/decade (much unconventional from 2000s) 22 Source: Rystad Energy UCube
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