Management Presentation Rio de Janeiro September 2014
Pre-salt Discovery Recent offshore discoveries have increased Brazils potential as an oil producing country Brazil has become a global player in the oil industry Proven reserves vs Brazilian potential Recent discoveries have positioned…
Overview of Sete Brasils history In 2006 Petrobras discovers Pre-salt one of the largest fields discovered in the last 30 years in the world Brief Overview 1 Pre-salt Discovery Brazilian Local Market is limited to cope with demanded…
Overview of Sete Brasils history Back to 2008 there were not enough rigs available in the market with the characteristics demanded for drilling wells in Pre-salt a huge number of rigs should be constructed Brief Overview 4 Drilling…
Overview of Sete Brasils history Sete Brasil was created as an off-balance sheet solution to Petrobras rigs demand, with scale and contractual structure capable of mitigating risks and raising funds Brief Overview 7 Large Drilling…
Sete Brasil in Perspective Scale as a Differential Sete Brasil is already a key international player in the sector Revenue Backlog (USbi) Rig Count (water depth 10,000 feet) 3,8 0 8 4,1 0 8 6,8 0 8 10,7 0 10 13,7 0 11 15,4…
Technical and financial knowledge combined with industry expertise Sete Brasil Aligns Interests and Needs from All Involved Parties Real win-win approach Petrobras (and potential customers) can benefit from 6th generation UDW rigs…
Sete Brasil: Strong Shareholders Base Sete Brazils business plan is sponsored by equity investments provided by the largest private and government owned financial institutions in Brazil Shareholders Classes & Simplified Capital Structure…
Rationale Summary At the same time that situation created more constraints to Petrobras, it could also means an opportunity for creating the necessary environment to resolve the Local Content issue Why creating Sete Brasil 1 Local…
Organizational Structure Sete Brasils organizational structure was designed to promote synergies across teams associated with experienced managers in relevant sectors such as Oil & Gas and Finance Management Structure Board Board of…
Index The Company Portfolio Funding Structure 13 13
Shipyards Location The rigs are under construction in 5 shipyards 1 2 3 1 2 3 4 5 4 5 14 14
The Scale Approach Sete Brasils 29 rigs portfolio joint venture program has 2 main advantages: (i) generates scale to attract interest from international shipyards to Brazil and (ii) provides the best alternative for mitigating…
Sete Brasils Assets Fleet of 29 ultra-deepwater rigs of 6th generation with proven design Drillship Semi-submersible Units under Units under 23 units 6 units construction construction Main regular shaped ships with a derrick at…
Procurement Overview All long lead items already contracted with standard and reliable market suppliers Some of them already delivered Key Equipment Suppliers BrasFels Enseada Jurong ERG EAS Supplier Country Supplier Country…
Atlntico Sul Shipyard (EAS) Shipyard Summary Overview 33.3% Queiroz Galvo Shareholders 33.3% Camargo Correa 33.3% IHI / JMU Construction Contracts 7 Status Operating Location Ipojuca, PE Size 1,620,000 m2 Steel…
BrasFELS Shipyard Shipyard Summary Overview Shareholders 100% Keppel Fels Construction Contracts 6 Status Operating Location Angra dos Reis, RJ Size 1,000,000 m2 Steel Processing Capacity 50,000 ton/year…
Rio Grande Shipyard (ERG II) Shipyard Summary Overview 75% Jackson Empreendimentos Shareholders 25% MHI (Mitsubishi Heavy Industry) Construction Contracts 3 Status Operating (under expansion) Location Rio Grande, RS Size…
Jurong Aracruz Shipyard (EJA) Shipyard Summary Overview Shareholders 100% SembCorp Marine Construction Contracts 7 Status Under construction Location Aracruz, ES Size 825,000 m2 Steel Processing Capacity 48,000…
Enseada Indstria Naval Shipyard Summary Overview 35% Odebrecht 17.5% OAS Shareholders 30% Kawasaki 17.5% UTC Construction Contracts 6 Status Under construction Location Paraguau, BA Size 1,600,000 m2 Steel Processing…
Pre funding Sete Brasil has raised over US4,2bn of bridge loans with 8 Brazilian and international commercial banks, in 5 bridge loan facilities, with take out from senior facilities Banking Relationships 25 25
Credit Rating On 10/23/2012 Standard & Poor's assigned brAA+ (BB+ global scale) rating to Sete Brasil. This note was reaffirmed in nov'13 Rating Highlights Sete Brasil Participaes S.A is a very important participant in Brazil's oil…
The Portfolio Advantage - Summary Construction, operation and maintenance risks diversification Larger scale Risk diversification Proven design with (By Dilution) solid track record Faster learning curve (By repetition of…
Executive Summary 29 state-of-the-art drilling rigs - 9 units already under construction (strike-steal) Pure ultra-deepwater 6th generation fleet scheduled to start operations from 2015 to 2020 Assets Field-proven designs from Gusto,…
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