Kvaerner's presentation at Paretokonferansen 2012
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Transcript of Kvaerner's presentation at Paretokonferansen 2012
© Kvaerner 2012
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12.09.2012
Pareto Oil & Offshore conference
Jan Arve Haugan, President & CEO Holmenkollen Park Hotel, 12 September 2012
Topside weight:
21 000 tonnes
Height:
257.4 metres
Width:
185.5 metres
Jacket weight:
14 500 tonnes
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12.09.2012
This is Kvaerner
2
NORTH SEA
Topsides
Floaters
Onshore upstream
facilities
Leading EPC
contractor to the
North Sea market
UPSTREAM
INTERNATIONAL
Topsides
Floaters
Onshore upstream
facilities
Spearhead for
international
expansion
CONCRETE
Concrete
substructures
Global leader in
gravity based
concrete structures
JACKETS
Large steel
jackets for oil &
gas installations
European leader in
steel jackets
DOWNSTREAM &
INDUSTRIALS
E&C AMERICAS
Power plants
Steel mills
A leading EPC
contractor for the
American market
3 200 employees in 9 countries
Revenues of NOK 13.3 billion in 2011
Order backlog of NOK 23 billion at 30 June 2012
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12.09.2012
Strive for zero harm to people, the environment and property
Require every employee to take personal responsibility for HSE
All incidents can be prevented
HSE – licence to operate and an effective way to work
3
0,0
1,0
2,0
3,0
4,0
Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun
LTIF TRIF
Lost time incident frequency (LTIF) and Total recorded incident frequency (TRIF)
Per million work hours and 12 months rolling averages
3.0
0.5
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Strong market in all target regions
4
North Sea
High number of
prospects
New contract awards
expected next 6-12
months
Arctic Russia
Strong future market
in Kara Sea and
Sakhalin
Kara Sea exploration
drilling expected
from 2014
Caspian
Strong future market,
uncertain timing
Development of
delivery model
Asia Pacific
Browse FID
expected 1H 2013
Multiple
opportunities within
next 24 months
Delivery model
established
North America
Gas fired power
plant market
Healthy US steel
market
Contract awards
somewhat delayed
Atlantic Canada
Operators increasing
Arctic activities
Long term
opportunities
STRATEGIC AND SELECTIVE APPROACH REQUIRED
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12.09.2012
Source: Rystad Energy, Kvaerner analysis
Prosperous market view upon establishing Kvaerner
last spring
5
Global offshore E&P spend for EPC by year
USD million
0
10 000
20 000
30 000
40 000
50 000
60 000
70 000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Market view, spring 2011
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Source: Rystad Energy, Kvaerner analysis
Several discoveries the last year, particularly on NCS
6
0
10 000
20 000
30 000
40 000
50 000
60 000
70 000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Market view August 2012
Market view, spring 2011
Global offshore E&P spend for EPC by year
USD million
Kvaerner’s target regions
and North Sea represents
~45% of the global offshore
EPC market until 2020
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Future NCS topside demand of 37’ tonnes per year
7
0
10000
20000
30000
40000
50000
60000
1980 1985 1990 1995 2000 2005 2010 2015 2020
Kvaerner Other Future
Topside tonnes delivered historically and forecasted demand Metric tonnes
Future NCS topside
demand ~37’
tonnes per year
High share
concrete
developments
Future peak NCS
topside demand ~45’
tonnes per year
Source: Rystad Energy team research and analysis, Kvaerner data
High
onshore
activity
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Industry drive to reduce time to first oil
8
Source: www.upstreamonline.com, www.offshore.no,Tekninsk Ukeblad
Strong focus on execution time, quality and capacity
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Focus on meeting client expectations
9
Project management
Engineering capacity
Global procurement
Optimising project execution
Investments in own facilities and
leveraging partnerships
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Expanding our delivery model
10
Topsides, Stord: New crane
20 000 tonnes of integrated topsides
annually
Jackets, Verdal: Dock filled and yard upgrades
35-40 000 tonnes of steel jackets
annually
Global fabrication, China: Cooperation with COOEC
Demonstration module successfully
completed
Joint tendering
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Track record
Topsides, floaters & onshore facilities
11
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12.09.2012
Track record
Jackets
12
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Track record
Concrete solutions
13
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On time delivery
14
Execution
Execution
Execution
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Q&A
15
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Copyright
Copyright of all published material including photographs, drawings and images in this document remains vested in Kvaerner and third party contributors as appropriate.
Accordingly, neither the whole nor any part of this document shall be reproduced in any form nor used in any manner without express prior permission and applicable
acknowledgements. No trademark, copyright or other notice shall be altered or removed from any reproduction.
Disclaimer
This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to
differ. These statements and this Presentation are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the
regions and industries that are major markets for Kværner ASA and Kværner ASA’s (including subsidiaries and affiliates) lines of business. These expectations, estimates and
projections are generally identifiable by statements containing words such as “expects”, “believes”, “estimates” or similar expressions. Important factors that could cause actual
results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets
for Kvaerner’s businesses, oil prices, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange
rates and such other factors as may be discussed from time to time in the Presentation. Although Kværner ASA believes that its expectations and the Presentation are based
upon reasonable assumptions, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in the Presentation. Kværner ASA is
making no representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the Presentation, and neither Kværner ASA nor any of its directors,
officers or employees will have any liability to you or any other persons resulting from your use.
Copyright and disclaimer
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