Mons S. Aase

DOF ASA
Cefor Centennial Conference 7 April 2011
CEO – Mons S. Aase
The New Horizon
DOF ASA PRESENTATION - 1
DOF GROUP - Overview
•
Norwegian headquartered vessel owner and operator
•
Founded in 1981
•
One of the largest offshore vessel providers to the oil and gas
sector (”Skandi ” vessels)
- Major clients include Statoil, Shell, Total and Petrobras
•
Publicly listed on Oslo Stock Exchange with a market capitalization
of approx USD 900 million
•
Offices in five continents with focus on Europe, Brazil and Asia.
Global workforce of about 3 400 personnel
•
Market value of fleet approx NOK 34 billion
•
Owns and operate 45 ROV‟s, approx 10 % of the worlds deepwater
ROV fleet
The New Horizon
DOF ASA PRESENTATION - 2
Company overview
DOF ASA
Norskan
DOF Subsea
Holding
Modern fleet
Modern fleet
3 AHTS’s
17 AHTS’s
7 PSV’s
2 CSV’s
Ship owning
Company
DOF Subsea
15 PSV’s
2 CSV
Modern fleet & Equipment
21 CSV/ROV vessels
44 ROV’s + 1 AUV
Leading Subsea Contractor
DOF Installer
The New Horizon
3 state of the art
installation AHTS
vessels
DOF ASA PRESENTATION - 3
The fleet market segments
PSV
AHTS
Total fleet
3
ROV/OCSV/DSV/
SEISMIC VESSELS
2
DOF ASA
15
NORSKAN OFFSHORE
7
12
2
21
DOF SUBSEA AS
0
0
21
21
DOF INSTALLER ASA
0
3
0
3
AKER DOF DEEPWATER AS
0
5
0
5
Total fleet
22
23
25
70
76 %
46 %
84 %
65 %
71 %
63 %
75 %
57 %
No. of vessels
Contract coverage 11*
Contract coverage 12*
20
* no options included
The New Horizon
DOF ASA PRESENTATION - 4
GLOBAL PLAYER
21
Bergen
Austevoll
Moscow
Aberdeen
St. Johns
1
Cairo
Houston
2
Manila
2
Macae
Angola
Singapore
Jakarta
Brunei
4
Rio de Janeiro
Perth
Buenos Aires
25
GEOGRAPHICAL FOCUS AREAS
The New Horizon
DOF ASA PRESENTATION - 5
Long-term contracted cash flows

DOF group has solid cash flow visibility over the next 3-5 years

By Nov 2010 the total back-log (incl. options) was approx NOK 35 bn


Firm contract counts for NOK 20 bn

Options count for NOK 15 bn
The vessel Backlog amount to approximately 4 times the current yearly
revenue
Backlog Development DOF Group (Year-End)
40 000
35 783
35 000
31 325
26 954
30 000
22 792
25 000
19 314
20 000
16 549
13 963
15 000
10 000
5 000
2011
The New Horizon
2012
2013
2014
2015
2016
2017
DOF ASA PRESENTATION - 6
Newbuilds delivered in 2010
Skandi Aker
Skandi Vitoria
Skandi Vega
Skandi Ipanema
Skandi Skolten
Skandi Peregrino
Skandi Hercules
Skandi Santos
The New Horizon
DOF ASA PRESENTATION - 7
Newbuilds to be delivered in 2011
3 x AH08
Skandi Amazonas
Skandi Gamma
Skandi Singapore
Skandi Niteroi
Skandi Skansen
Skandi Hawk
Skandi Feistein
The New Horizon
DOF ASA PRESENTATION - 8
Skandi Gamma
Skandi Gamma
•
Stainless Steel Methanol / Special
purpose tanks
•
NOFO
•
Rescue Class (NMD)
•
PSV
•
Dual Fuel LNG/Diesel
•
1000 m2 deck area
•
PG MACS (Multi Application Cargo
Solution)
The New Horizon
Picture of Skandi Gamma by Tom Gulbrandsen
DOF ASA PRESENTATION- 9
Skandi Emerald (NB 2011)
The New Horizon
•
AH08 Design
•
550 m2 Cargo deck area
•
LOA: 75 m, B: 17,4
•
FIFI I + II
•
AHTS vessel
•
Versatile design
•
201 t Bollard Pull
•
•
16000 HP
Built in at STX Vung Tau,
Vietnam
DOF ASA PRESENTATION - 10
Skandi Skolten (2010)
Skandi Skolten
The New Horizon
•
DOFSUB Atlantic project vessel
•
AH04
•
Construction & AHTS vessel
•
Hybrid propulsion
•
361 t Bollard Pull
•
36 000 BHP
•
250 t Crane, 2 x WROV
•
1 070 m2 Cargo deck area
•
90 men accommodation
Skandi Skansen (NB 2011)
Skandi Skansen
• First vessel with STX new bow design
• Optimized for Eco-drive in all weather
conditions
• Construction & AHTS vessel
• AH04 Design
• Hybrid propulsion
• ~360 t Bollard Pull
• 36 000 BHP
• 250 t Crane
• 2 x WROV
• 1 070 m2 Cargo deck area
• 90 men accommodation
DOF ASA PRESENTATION - 11
Pipelay support vessels
Skandi Vitoria
The New Horizon
Skandi Niteroi
•
Construction vessel (OSCV 06)
•
Construction vessel (OSCV 06)
•
LOA: 141.3 m
•
LOA: 141.3 m
•
Breadth: 27.0m
•
Breadth: 27.0m
•
Contract: 4 years + options
•
PLSV in JV with Technip
•
Crane: 250 t
•
Crane: 250 t
•
Accommodation: 120 men
•
Work moonpool 7.2m x 7,2 m
•
Accommodation: 120 men
DOF ASA PRESENTATION - 12
Similar hull – different outfitting
Skandi Aker
•
The New Horizon
Construction vessel
(OSCV 06L)
•
LOA: 156.9 m
•
Breadth: 27.0m
•
Contract: 5 years + options
•
Crane: 400 t
•
DYNPOS-AUTRO (DP III)
•
Accommodation: 140 men
Skandi Arctic (DSV)
Skandi Acergy
• Construction
• Construction
vessel
(OSCV 06L)
(OSCV 06L)
• LOA:
• LOA:
156.9 m
• Breadth:
• Crane:
6 yrs + 8yrs opt
• DYNPOS-AUTRO
(DP III)
140 men
27.0m
• Contract:
• Crane:
400 t
• Accommodation:
156.9 m
• Breadth:
27.0m
• Contract:
vessel
5 yrs + 6yrs opt
400 t
• DYNPOS-AUTRO
• Accommodation:
(DP III)
140 men
DOF ASA PRESENTATION - 13
Skandi Aker – Ship of the Year 2010
• Construction support
and well intervention
vessel.
• Designed acc.to DNV
ship rules + MODU
Code
• AHC Offshore cranes,
400 ton + 50 SWL
• 2x WROV systems
• Well intervention
process and deck
equipment
Clean design, DP 3, CRANE, MODU CODE, WELL
LOA 157 m – Beam 27 m
Power: 6 gensets, 18500 kW
• Moonpool tower, 450
ton winch, for riser
handling, AHC
• Deck skidding system
Diesel Elec. prop: 3 props aft
+ 4 thrusters forward, 18 knots
The New Horizon
Accommodation: 140 persons
DOF ASA PRESENTATION - 14
Skandi Aker - Well intervention system
• Deck skidding system
• Tower for riser handling
• Moonpool
• Riser handling system
(450 ton AHC winch)
• Riser tension system
• Underdeck fluid and
pumping system
• Prepared for operations
at 3000 m
The New Horizon
DOF ASA PRESENTATION - 15
Skandi Aker
Well intervention riser system
• Upper riser section
• Upper riser valves and rams
• Interfaces with vessel
• High Pressure Riser
• HP monobore riser joints
• Riser circulation umbilical
• Lower Riser Package (LRP)
• EDP - Emergency Disconnect Package
• WCP - Well Control Package
• Connects to XMT
EXAMPLE OF AN OPERATION THAT REQUIRE A
VESSEL WITH CONTROLLED MOTIONS AND HEAVE
COMP SYSTEM
The New Horizon
DOF ASA PRESENTATION - 16
Skandi Santos
The New Horizon
•
Construction vessel (OSCV 03)
•
OBS ROV 1x Side Launch
•
First subsea equipment service
vessel
•
Crane: 250 t
•
Accommodation: 120 men
•
Contract. 5 years + options
•
LOA: 120.7 m
•
Breadth: 23.0m
•
WROV: 1 x Side Launch 1x
Moonpool
DOF ASA PRESENTATION - 17
Skandi Santos
• Construction &
subsea support
• Charterer: Aker
Solutions / Petrobras
• Heavy lift capabilities:
SWL 250 ton, AHC
• 1 x side launched and
1 x moonpool
launched WROV
systems
• Moonpool tower, for
module handling (e.g.
”Xmas trees”)
• Deck skidding system
Clean design, DP 3
LOA 120 m – Beam 23 m
Power: 6 gen sets, 13000 kW
Diesel elec prop: Aft 2x3000kW, Fwd 4x1500kW
Accommodation: 120 persons
The New Horizon
• CTCU winch 125 ton
SWL, AHC, for
operation at 3000m
DOF ASA PRESENTATION - 18
DOF Subsea – ROV fleet
The New Horizon
Triton XLX
Work Class
• In Service – 16
• On Order – 2
• 3,000 meters rated
UHD
Work Class
• In Service – 6
• 4,000 meters rated
Triton XLS
Work Class
• In Service – 8
• 3,000 meters rated
Scorpion
Work Class
• In Service – 1
• 1,500 meters rated
Triton XL
Work Class
• In Service – 2
• 2,000 meters rated
Comanche
Light Work
Class
• In Service – 1
• 3,000 meters rated
Triton MRV
Work Class
• In Service – 1
• 3,000 meters rated
Mohican
Inspection Class
• In Service – 2
• On Order – 1
•2,000 meters rated
Supporter
Work Class
• In Service – 1
• 3,000 meters rated
Focus-2
ROTV
• In Service – 1
• 2,000 meters rated
Couger XT
Inspection Class
Tiger
Inspection Class
• In Service – 1
•3,000 meters rated
• In Service – 1
•2,000 meters rated
DOF ASA PRESENTATION - 19
19
DOF Subsea – Hugin AUV

An Autonomous Underwater Vehicle
(“AUV”) is a specialized robotic vehicle
used to map the seabed in great detail

The AUV is deployed from a vessel and
under it‟s own control flies along a
predetermined path at a constant height
above the seabed.

Sensors map both the seabed profile and
the geology of the seabed
General specifications
The New Horizon

Max depth: 3,000 meters

60+ hours endurance

Speed: Approx. 4 knots

Length: 5.2 meters

Diameter: 1.0 meters

1,500kg (dry) / 2,500kg (wet)
DOF ASA PRESENTATION - 20
20
Thank you
The New Horizon
DOF ASA PRESENTATION - 21
DISCLAIMER
This presentation by DOF ASA designed to provide a high level overview of aspects of the
operations of the DOF ASA Group.
The material set out in the presentation is current as at 07 April, 2011.
This presentation contains forward-looking statements relating to operations of the DOF ASA
Group that are based on management‟s own current expectations, estimates and projections
about matters relevant to DOF ASA„s future financial performance. Words such as “likely”,
“aims”, “looking forward”, “potential”, “anticipates”, “expects”, “predicts”, “plans”, “targets”,
“believes” and “estimates” and similar expressions are intended to identify forward-looking
statements.
References in the presentation to assumptions, estimates and outcomes and forward-looking
statements about assumptions, estimates and outcomes, which are based on internal business
data and external sources, are uncertain given the nature of the industry, business risks, and
other factors. Also, they may be affected by internal and external factors that may have a
material effect on future business performance and results.
No assurance or guarantee is, or should be taken to be, given in relation to the future business
performance or results of the DOF ASA Group or the likelihood that the assumptions, estimates
or outcomes will be achieved.
While management has taken every effort to ensure the accuracy of the material in the
presentation, the presentation is provided for information only. DOF ASA , its officers and
management exclude and disclaim any liability in respect of anything done in reliance on the
presentation.
All forward-looking statements made in this presentation are based on information presently
available to management and DOF ASA assumes no obligation to update any forward lookingstatements. Nothing in this presentation constitutes investment advice and this presentation
shall not constitute an offer to sell or the solicitation of any offer to buy any securities or
otherwise engage in any investment activity.
You should make your own enquiries and take your own advice (including financial and legal
advice) before making an investment in the company's shares or in making a decision to hold or
sell your shares.
The New Horizon
DOF ASA PRESENTATION - 22