Osx institutional eng_november_final

Institutional Presentation 2011

[object Object],Organizational Structure OSX Leasing OSX Shipbuilding Unit OSX Services Free Float Holding 10% 90% 100% 100% 21.2% 78.8% Integrated offshore E&P equipment and services provider

[object Object],OSX Highlights Attractive Market Conditions in Brazil Local Content Requirement Strong Demand from OGX Strategic Partnership with Hyundai Incentivized and Experienced Management Team ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Training (ITN) ,[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],OGX: Anchor Client OGX Highlights Exploratory Success in the Drilling Campaign Source: D&M Report and OGX presentations (1) Gross Prospective Resources * 3C + Delineation + Prospective + 30% 57 oil & gas discoveries to date OGX blocks Oil Field Campos Basin ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Santos Basin ,[object Object],[object Object],[object Object],D B G ,[object Object],[object Object],[object Object],H ,[object Object],[object Object],J ,[object Object],[object Object],L ,[object Object],[object Object],S ,[object Object],[object Object],[object Object],[object Object],T ,[object Object],[object Object],R C OGX Offshore Blocks (Sept. 2009) Basin Blocks Unrisked Resources Total Probability of Geological Success Risked Resources Total Risked Resources OGX Campos 7 9.350 44,10% 4.124 3.693 Santos 5 6.659 27,00% 1.796 1.688 Espírito Santo 5 5.017 32,60% 1.634 817 Pará Maranhão 5 2.104 21,30% 447 447 Total 22 23.130 34,59% 8.001 6.645 Basin D&M Report 2011 Campos 5.700* Santos 1.688 Espírito Santo 817 Pará Maranhão 447 Total 8.652

[object Object],OGX: Significant Demand Expected Base case order book of 48 offshore E&P units equivalent to US$ 30bn ,[object Object],[object Object],[object Object],OGX Production Targets - kboepd 2019E 2015E 2011E 20 730 1,380 CAGR: 70% * Considering 2009 D&M Report Source: OGX Delivery Timeline ,[object Object],[object Object],Expected Demand for Offshore Equipment (2011-2019) - Number of units FPSO 19 TLWP 5 WHP 24 Total 48* 1 2 4 5 3 1 1 1 2 1 1 3 5 6 6 2 2 1 2011E 2012E 2013E 2014E 2015E 2016E 2017E 2018E 2019E 1 5 6 12 13 6 4 1 1 5 1

[object Object],Pre-Salt Resources Pre-salt discoveries strongly contribute to increase in Brazilian resources of up to 100Bboe Source: Petrobras (updated in June 2011) Petrobras Local Production Forecast ( thousad bpd ) Ex-Pre Salt Pre Salt Pre-salt Resources Area Source: Petrobras – (Company Presentation) Local Content Requirement Source: Petrobras (updated in June 2011) Exploratory Blocks OGX Blocks Oil and Gas Fields Pre-salt Reservoir (Petrobras/CNPE/ANP) Petrobras ’ capex: US$ 111 billion 2.100 2.739 2.872 241 1.078 2.100 2.980 3.950 2010 2014 2020 Espírito Santo Basin Cmpos Basin Santos Basin Super Porto do Açu Total Area Estimated Resources Production Development ,[object Object],[object Object],[object Object],[object Object],[object Object],Required Capex

[object Object],[object Object],[object Object],Strong Demand: Offshore E&P Equipment in Brazil 3 3 22 8 32 18 27 13 16 11 2011E 2012E 2013E 2014E 2015E 2016E 2017E 2018E 2019E 2020E Existing Capacity Note: Including already ordered equipment Source: Verax Capacity Estimates: Source OSX Consolidated Potential Demand (number of E&P equipment units) OGX (FPSOs Only) Petrobras (FPSOs + 28 Rigs)

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Local Content: Rationale and Evolution The local content requirement represents a social and economic development strategy and has significantly increased in recent ANP bidding rounds Local Content Requirement Local Content Evolution ,[object Object],[object Object],[object Object],Source: ANP Note (1) 8 th ANP bidding round auction is still under discussion 25% 42% 28% 39% 79% 86% 74% 69% 79% 27% 48% 40% 54% 86% 89% 81% 77% 84% 1st 2nd 3rd 4th 5th 6th 7th 8th (1) 9th 10th Exploration Phase Development Phase Local Content Rationale Notable Companies Committed to Local Content

[object Object],Brazilian Shipyards Local shipyards are not prepared to serve expected offshore E&P equipment demand “ A construction slot in OSX ’ s shipyard is worth more than gold ” Committed Slots Site Area (km 2 ) Technology Partner Steel Processing Capacity (Kton / year) Focus on Offshore Equipment Logistics EAS ERG Brasfels Mauá MacLaren Labor Force Source: Verax 1.6 0.5 0.5 0.4 0.1 160 60 50 36 6 Mac Laren Brasfels Mauá Main Shipbuilders in Brazil Current Brazilian Shipyard Condition

[object Object],Strategic Partner: Hyundai Heavy Industries OSX Shipbuilding Unit under development in partnership with the largest shipbuilder in the world Rationale and Overview ,[object Object],[object Object],[object Object],[object Object],[object Object],Why Hyundai? ,[object Object],[object Object],[object Object],[object Object],[object Object],Efficiency Comparison ,[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],Açu Industrial District: A new cluster for heavy industry

[object Object],[object Object],[object Object],[object Object],[object Object],Açu Site

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Açu Site: Competitive Advantages

[object Object],Product Portfolio FPSO TLWP WHP ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Drillships Tankers Description Main Systems for Standardization Target

[object Object],[object Object],[object Object],ITN –Naval Technology Institute ,[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],ITN –Naval Technology Institute ,[object Object],[object Object],Phase 1 – Employee Training Phase 2 – Knowledge, Technology & Inovation Timeline Dedication

[object Object],ITN –Naval Technology Institute ,[object Object],[object Object],[object Object],[object Object],Fase 2 – Conhecimento, Tecnologia e Inovação

[email_address] +55 21 2555 6914

Osx institutional eng_november_final

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