Barclays CEO Energy-Power Conference 2015 Robert Hobbs CEO September 2015
This is TGS Main offices: Calgary London Houston and Oslo Oslo Regional offices: London, Perth, Calgary, Singapore and Rio de Janeiro Fundamental values: Unmatched Quality and Service, Growth for Stakeholders Houston…
Well positioned in the seismic value chain M U LT I - C L I E N T SERVICES Geophysical Data Geological Data Imaging Services 2D Seismic Digital well data Seismic processing 3D Seismic Directional Surveys Complex depth imaging…
TGS competitive advantage Asset light business model Global Quality Flexibility Geographically diverse Balance sheet data library Investment decisions not People and culture driven by vessel utilization Leadership in mature…
Challenging Market for Exploration Demand for seismic data has significantly deteriorated over the first six months of 2015 and the outlook for improvement in the market remains quite uncertain TGS approach during down cycle:…
Financials 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 8
Investments per Vintage ahead of schedule 700 685 100% 609 600 500 381 60% 400 60% 300 270 48% 200 153 40% 28% 100 20% 2% 6% 0 0% 2011 2012 2013 2014 WIP Original investments Maximum allowed NBV (year-end)…
Q2 Net Revenues vs. Net Book Value per Vintage 60% 57% 50% 50% 40% 35% 63% 30% 24% 20% 13% 10% 7% 6% 4% 2% 2% 0% 0% 0% pre-2011 2011 2012 2013 2014 WIP Net revenues Net book value 2015 TGS-NOPEC…
Outlook 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 14
Operational Activity Mexico Mexico Gigante 181,500 km multi-client 2D survey Regional 2D survey commenced in Q2 2015 and expected to complete in H2 2016 Survey includes world class producing trends such as the Perdido fold belt and…
Operational Activity North America East Canada Flemish Pass 4,300 km2 multi-client 3D survey TGS first 3D acquisition offshore East Canada in partnership with PGS Eastern Newfoundland/South Labrador - 6000 km2 multi-client 3D…
Operational Activity Europe Barents Sea Europa - 2,900 km2 multi-client 3D survey Acquisition completed in Q2 2015 South-East Norwegian Barents Sea Hjalmar 3,000 km2 multi-client 3D survey Acquisition expected to complete in Q3…
Operational Activity North America Onshore Freeport - 1,777 km2 3D multi-client survey Blanchard 1,100 km2 3D multi-client survey Utica play, central Ohio South Central Oklahoma Oil Play (SCOOP), Oklahoma Acquisition will complete…
Polarcus Library: Western Atlantic Margin Corridor Letter of Intent to acquire Polarcus multi-client library (excluding Australia) for 27.5 MUSD, majority closed August 24 Deal includes payments of 2014 and 2015 acquisition costs…
License Round Activity and TGS Positioning North & South America Africa, Middle East, Asia Pacific Europe / Russia Central GOM Mar 2016 (5-Year Plan) Madagascar 2015 (expected) Norway APA Sep 2015 (bids due) Western GOM Aug 2015…
Global Well Data Coverage TGS owns and manages a global well log database Strong synergies with multi-client seismic data business 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 21
2015 Projects Schedule NSA EUR AMEAP Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sanco Swift Australia Australia JV Sanco Sword Australia U.S. Gulf of Mexico Barents Sea 3D & WAZ Polarcus Adira Barents Sea CGG…
Summary H1 performance has confirmed the challenging market conditions and outlook for improvement remains uncertain H1 net revenues of 311 MUSD H1 operating profit of 73 MUSD, 23% of net revenues H1 multi-client investment of 279…
TGS Performs in all Cycles EBIT margin vs. Seismic peers Return on Capital Employed 80% 80% 70% 60% 60% 40% 50% 20% 40% 30% 0% 20% -20% 10% -40% 0% Peer Average TGS ROCE WACC Average EBIT margin…
Thank you www.tgs.com 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved.
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