Leading Marine Geophysical Company Imaging & Marine Contract MultiClient Operations Engineering Marine market Diverse Productivity Technology leadership MultiClient library leadership differentiation 45% of 2013 Revenues 45% of…
High Sales Leads - Low Bidding Activity 3 500 3 000 2 500 Active Tenders currently at low levels USD million 2 000 Continued high value of all 1 500 sales leads 1 000 500 - Active Tenders All Sales…
Geographical Distribution of Sales Leads Middle Brazil West Africa dominates the East incl. Mediterranean NSA excl. opportunity space Brazil Europe incl. North Sea Increasing value of sales leads in Asia Pacific West Africa…
Improving Visibility 800 700 Order book of USD 558 600 million by end Q2 2014 500 Vessel booking* USD million 100% booked for Q3 2014 400 70% booked for Q4 2014 35% booked for Q1 2015 300 20% booked for Q2 2015…
Global Supply and Demand Trends 600 From 2006 to end 2012 demand for Total 3D volume in '000 sq.km. 500 seismic grew by approximately 400 120% measured in sq.km. 300 Annual average growth rate of 12% 200 Growth in sq.km.…
Response to a Softer Market Fleet Adjustment and CAPEX Reduction Pacific Explorer and Nordic Explorer are stacked and will be considered scrapped or sold Atlantic Explorer will remain a 2D/source/EM vessel Shipyard has notified PGS…
Significant Free Cash Flow Potential Illustration revised to reflect 900 updated 2014 guidance and ECF facility and net CAPEX change in cash NB CAPEX Cash flow from operations covers MultiClient investments, maintenance CAPEX,…
Returning cash to Shareholders 2.5 Solid dividend growth +39% Solid dividend growth since 2 Dividend per share in NOK dividend policy was introduced in 1.5 +50% 2011 Payout ratio approximately in 1 middle of the dividend…
Size Matters High Capacity Vessels are the Winners 2500 Average 3D survey size Average survey size continues to grow driven by: Shorter license periods 2000 Need for full block overview early on Good value of seismic data…
Productivity Leadership is Key for Differentiation Vessel Decommissioning Supportive for Supply/Demand Balance Relative cash cost efficiency per streamer per day PGS vessels Competitors vessels Temporary stacked Recently…
The GeoStreamer Technology Platform: Much More than Broadband Enhanced A more precise illumination and image for clearer earth reduced sub- model surface risk GeoStreamer with Reliable GeoStreamer Complete GeoSource…
Strong Correlation in MultiClient Sales vs. Net Book Value 800 Sales 700 MultiClient business growing in 600 sales and profitability 500 USD million 400 300 Corresponding NBV growth 200 Impacted by annual pre-funding 100…
Good MultiClient Sales Performance from All Vintages 900 Strong sales progress for all vintages 800 700 Moderate net book values (NBV) for surveys completed 2009- 600 2014 500 High pre-funding on new USD Millions…
OptoSeis Marine Proven PRM Technology PGS was awarded a Permanent Reservoir Monitoring (PRM) contract with Petrobras over parts of the Jubarte field in 2010 PGS OptoSeis technology is now well proven with outstanding results…
Towed Streamer EM - Barents Sea South East Survey 2014 MultiClient survey over all nominated blocks A Data will complement 3D seismic acquired during the summer 2014 D B C Source: Statoil
PGS Strategic Ambition To Care For our employees For the environment and society at large For our customers success To Deliver Productivity Leadership Ramform platform + GeoStreamer Reducing project turnaround time To Develop…
In Conclusion: Robust Strategy - Well Positioned for the Future Differentiating technology Cost effective operations Improved productivity Solid financial position Significant free cash flow potential Returning cash to…
Thank you Questions
Appendix A Fleet of Purpose Built High-end Seismic Vessels Ramforms Other vessels Ramform Titan-class vessels accretive to returns Titan-class Ramform Titan Ramform Atlas 2 Titan Class for 2015/2016 delivery PGS Apollo…
Appendix Main Yard Stays Next 6 Months Vessel When Expected Type of Yard Stay Duration PGS January/February Approximately Renewal class Apollo 2015 20 days -23-
Appendix Attractive Debt Structure Long term Credit Lines and Interest Nominal Total Financial Covenants Bearing Debt Amount as Credit Line of end June, 2014 USD 400.0 million Term Loan (TLB), Libor USD 400.0 None, but incurrence…
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