6th March 2019 DnB Oil, Offshore & Shipping Conference
Prosafe anno 2019 Transformed and repositioned o Worlds largest fleet of offshore accommodation vessels (8+3 units*) 1 Modernized the fleet o Cosco transaction: Add three versatile units with global reach o 50% of the fleet will be…
Activity increased significantly in 18high activity summer 19 Number of contracts Contract months Comments Awards in 2018 offer activity rebound in to 2019: In 2018 Prosafe saw more than a doubling in the number of new contract…
Contract status Contract backlog Recent contract news Safe Caledonia 80 days firm award with a 30-day option with a major oil and gas operator, UKCS. Ability to substitute the vessel with another from within the fleet; Summer…
Order backlog Prosafes firm backlog was USD 209 Order Backlog (USD million) million per end Q4 2018 Awarded 41% and 76%, respectively, 1400 of global and North Sea contracts bid 1200 593 for last 6 years 1000 564 518 800…
UKCS surge in MMO High demand in recent years driven by major hook up and commissioning activity, although transition to MMO going forward Turnaround and life-time extensions expected to drive significand demand in the next 5…
Norwegian Shelf positive activity indications Anticipated demand driven primarily by maintenance requirements linked to lifetime extension Entrance of new operators like in the UK could be a positive factor supporting this type of…
Key Brazil developments IOC offshore spending increase Prosafe came first in Brazil auction. Will mobilize Safe Eurus if contract awarded Even upon conclusion of the tenders, contracted supply considered insufficient to meet…
Mexico Indicators pointing to activity growth from 2020 Average age of offshore facilities in Mexico is over 25 years Offshore facilities by installation year Over 50% of infrastructure weight was installed prior to 1991 (topside…
Prospects & tendering 3 year lookout Global opportunities Tendering activity 3 year profile 13 tenders ongoing for 2019 through 2021 12 tenders with commencement dates in 2019 21 North Sea prospects with high probability of going…
Global renewal and rebalancing of fleet Floating accommodation supply (by year delivered) Modern Fleet Global fleet renewal 6 Legacy Fleet 5 5 5 4 7 legacy units have been scrapped and another 6 4 units assumed scrapped in 19-20 3…
Summary Clear strategy Transformed and refinanced Largest and most versatile fleet globally Sufficient financial runway Good contract coverage in prime season 2019 Positive macros anticipated support a gradual recovery across the…
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