Barclays Energy-Power Conference September 9, 2015 SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
Macro View Deepwater Reality What to do Impact for SBM Offshore SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
Oil Market Outlook Brent Crude Pricing 140 Key Takeaways 120 The only certainty is higher 100 level of uncertainty and US / bbl greater volatility 80 Perfect Storm 60 Gas matures as a market: higher growth and…
Supply Turns to Ultra Deepwater & Shale Global Liquids Production by Sources Source: Rystad Energy UCube, May 2015 Ultra deepwater driven by Brazil, GoM and West Africa 5
Bridging the Gap to 2025 Global Petroleum and Other Liquids Supply Potential 2014 vs 2025 105 4.7 98.8 5.4 95 92.3 32.7 7.2 22.2 Production (MMbpd) 85 12.3 75 10.8 19.2 65 6.0 4.8 55 57.4 Decline Onshore…
Macro View Deepwater Reality What to do Impact for SBM Offshore SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
Economics of Marginal Production Production Breakeven 150 125 Onshore Brent Real Oil Price (/bbl) Middle Extra NA Tight 100 East Heavy Liquids New Offshore Oil Production Arctic Oil Oil 75 Sands Onshore Russia Onshore…
Deepwater Project Constraints Norms & Regulations One of a Kind Reservoir Complexity Harsher Environment With a US60/bbl oil Local Content price environment, 75% of deepwater projects are uneconomic(1) Project Sanction (1)…
Deepwater Development Solutions Development Type(1) Key Takeaways Floating production solutions were employed for 88% of deepwater discoveries over the past 10 years For greenfield, floating production systems are the solution…
Macro View Deepwater Reality What to do Impact for SBM Offshore SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
Deflation for Deepwater Development Result of USD Appreciation, Commodity Prices and Supplier Cost Reductions Deflation reduces project cost by an estimated 20-30% before any fundamental changes which could bring greater and…
More Fundamental and Sustainable Change Performance Prescriptive Key Takeaways Based Call for Based Call for Tender Tender It pays to rely on experienced and competent contractors 100-250 Pages 5,000 Pages Integration and…
Macro View Deepwater Reality What to do Impact for SBM Offshore SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
How SBM is Rising to Meet the Challenge Turnaround Transformation Vision Work as One Crisis The Way Perform Odyssey24 Restructuring Management Forward Shape the Future JAN 2012 FEB 2013 SEPT 2013 DEC 2014 Q1 2016 JAN 2012 FEB…
Focus on Continuous Improvements Capital Expenditure Operating Expenditure New project execution philosophy work New operating philosophy campaign closer with our clients approach to maintenance Simplified organization Simplified…
Experience Pays SBM Offshore versus the Industry(1) Key Takeaways Cost Growth 10% 12% 23% Consistently on-time Schedule Slip 1.5% 10% 20% and on-budget Schedule Index 0.9 1.0 0.9 Fewer start-up problems Operability Problems 33%…
Operational Excellence Fleet Oil Uptime Key Takeaways Over 260 years of operating experience SBM delivers reliable Less than 2 weeks of continuous unplanned production to shutdown its clients Nearly 4.5 billion barrels of oil…
Sources of Resilience Economical Backlog Production US20.0 billion US6.90 average unit cost/bbl Long-term Contracts No FPSO renewal until 2022 Reliability 99%+ production uptime Technology & Efficiency Transformation…
Q&A SBM Offshore 2015. All rights reserved. www.sbmoffshore.com
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