I accept - Maire Tecnimont

CORPORATE PROFILE
September 2014
Group Overview
Strategy & Business
Main Financial Data
2
GROUP OVERVIEW: Facts & Figures
Focus on
Technology
&
Licensing
Engineering
&
Construction
(E&C)
Energy
Business
Development
&
Ventures
Ø
0.02*
Oil&Gas
Petrochemicals
Fertilizers
Flexible Business Model offering advanced
skills in Licensing, Engineering
Services, EP (Engineering &
Procurement), EPC (Engineering,
Procurement & Construction)
Zero Incident Target
Safety Culture
US$ 4.7bn**
Total Recordable Incident Rate
vs 0.38 industry benchmark
*referred to Tecnimont Group
**overall value of the Habshan 5 project, MT share is 50%
The largest gas
treatment plant
under completion in
Abu Dhabi (UAE) on a
Lump Sum Turn Key
(LSTK) basis
3
GROUP OVERVIEW: Global & Technological Leadership
Over
1000
#9
Individual Patents
30%
54%
Top International
Design Firms List*
34%
Market share in polyolefins**
(#1 worldwide as per capacity
installed in the last 6 ys),
including a 40% in LDPE
(Low Density PolyEthylene)
Market share in licensing urea
plants technology
(#1 worldwide)**
Market share in licensing urea
granulation technology
(#2 worldwide)**
in Licensing hydrogen technology
(with single train capacity up to
Well
180,000 Nm3/h) and in licensing
recognized Sulphur Recovery and Tail Gas
position Treatment Technology
(with design capacity of single train
up to 1,500 t/d)
Since 1924 the Group completed:
95
68
Ammonia plants
Urea plants
*2013 ENR Sourcebook, Petroleum section “Refineries and Petrochemical Plants” – December 2013
**management estimate
4
GROUP OVERVIEW: Key Milestones (1/2)
1899
FIAT GROUP
1958
Incorporation of ICB Pvt Ltd as
consulting firm in the plant
sector in Mumbai
1977
Creation of the first JV
between ICB and Tecnimont
1972
Incorporation of
FIAT ENGINEERING
2002
Acquisition of FIAT Avio’s Electric
Design & Construction Business
2004
Acquisition of
Fiat Engineering
(later MAIRE ENGINEERING)
Oct 2005
Incorporation of MAIRE TECNIMONT
2005
Maire Group acquires
Tecnimont
1973
Incorporation of
TECNIMONT
1966
Incorporation of
MONTEDISON
1963 Giulio Natta
Nobel Prize for chemistry
1884
EDISON
Power Supply
1888
MONTECATINI
Mines and Chemicals
then focused on
Fertilizers (G.Fauser)
Polypropylene (G.Natta)
1990s
Tecnimont acquires 50% of the
Indian company renamed as
Tecnimont ICB Pvt Ltd (TICB)
Dec 2007
Nov 2007
Listing on the
Italian Stock
Exchange
Acquisition of 100% of TICB
India, now fully owned and
integrated in the Group
Tecnimont ICB:

Over 5 decades of excellence

Among the largest E&C companies in
India

Centre of Excellence for the Group engineering centre/EPC contractor for
selected projects

Benchmark quality & cost efficiency

Highly skilled personnel

Electrical & Instrumentation (E&I)
installation excellence
5
GROUP OVERVIEW: Key Milestones (2/2)
Reorganization of
Italian HQs
1971
Kinetic Technology Int. - KTI
More than 40 years of
experience in process engineering
1988
Mannesmann acquired KTI
1999
Technip Italy acquired KTI
Oct 2009
Jun 2010
Acquisition of
Stamicarbon
Acquisition of
Technip KTI
1947
Incorporation of
STAMICARBON
Chemical and Fertilizer
licensing
New Milan Offices:

2 Towers +1 Service
Building (tot 69,000
sqm)

About 2,000 employees
when fully operational

Effective competences
integration and cross
fertilization among BUs
2011 - 2012
From 2013 on
LAUNCH OF THE NEW
BUSINESS STRATEGY
(later KT)
1937
Dutch State Mines – DSM
research centre for services
work to coal mines
6
EXTENSIVE INTERNATIONAL PRESENCE: Our Employees
More than 4,200 employees, half of whom are employed outside Italy
Presence in about 30 countries with 45 operating companies
EMPLOYEES BY COUNTRY
Italy
1,924
Milan
1,402
Rome
419
Others
103
Rest of Europe
305
The Netherlands
111
Germany
Others
153
1,962
India
1,596
South America
Africa
Total
Sittard
Milan
41
Asia
Rest of Asia
Salzgitter
Rome
366
Mumbai
21
2
4,214
Average age: ~ 41 years
Approximately 56% graduates
Headquarters
Figures as of 30 June 2014
Main Offices
Subsidiaries, branches
and representative offices
7
COMMITMENT FOR HEALTH AND SAFETY
Maire Tecnimont safety performances: zero incident targets
Maire Tecnimont Group Safety 2013
(based on approx. 57.9 million hours worked on-site)
KPI*
Maire Tecnimont
Oil&Gas Producers 2012
Contractor data (1)
Construction Industries
Institute - CII (2)
LTIF
(OSHA – Lost
Time Injury
Frequency)
0.003
0.10
0.06
TRIR
(OSHA - Total
Recordable
Injury Rate)
0.02
0.38
0.45
 Environment, Health and
commitment
(*)
(1)
(2)
International Reference Benchmarks
Safety Management System as core value
and
personal
 Integrated HSE Management System constantly reinforced, diffused, checked and
with results considerably higher than international standards
8
upgraded
KPI - Key Performance Indicator
Source: International Association of Oil & Gas Producers - Report No 2012s June 2013 - Safety Performance indicators - 2012 data - Contractor aggregated data
Source: CII – Benchmarking & Metrics Program – 2011 Safety Report – Aggregated data Contractors 2010 (BMM 2011 02 October 2012)
8
Group Overview
Strategy & Business
Main Financial Data
9
GROUP OVERVIEW: Company Positioning
TECHNOLOGY DRIVEN
SECTOR
VALUE
CHAIN
LICENSING
PROCESS
DESIGN
EXECUTION DRIVEN
ENGINEERING
PROCUREMENT
CONSTRUCTION
FERTILIZER
OIL& GAS
PETROCHEMICALS
illustrative
10
STRATEGIC INITIATIVES DRIVING CHANGE
Enhance and Develop
Technology Driven Business
1
Align Organization and
pursue Group Synergies
“One Company”
5
4
Expand Geographic
Footprint
Strategic
Priorities
3
2
Reduce EPC Risk
Positioning
Develop Engineering
Services Revenues
11
E&C: Main Petrochemicals Projects
POLYETHYLENE/NAO PLANTS – Q-CHEM II DERIVATIVES COMPLEX
– MESAIEED (QATAR)
• Capacity:350 KTY HDPE; 350 KTY Normal alpha-olefins
• Client: QATAR CHEMICAL COMPANY II
• Contract type: EPC
• Value: ～ US$830mn (MT share US$440mn – consortium Daewoo)
• Contractor: Tecnimont
COMPLETED PROJECTS
UNDER REALISATION PROJECTS
PDH PLANT
TOBOLSK (WESTERN SIBERIA)
• Capacity: 510 KTY Propane
Dehydrogenation (PDH)
• Client: Tobolsk Polymer LLC
(JSC Sibur Holding)
• Value: ～ €660mn
• Contractor: Tecnimont
LDPE PLANT BRATISLAVA (SLOVAK REPUBLIC)
• Capacity: 220 KTY LDPE
• Client: Slovnaft Petrochemicals s.r.o. (MOL Group)
• Contract type: EPC LSTK
• Value: ～ €204mn
• Contractor: Tecnimont
POLYOLEFIN PLANTS FOR PP AND PE
DAHEJ (INDIA, GUJARAT)
• Capacity:340 KTY PP; 2 x 360 KTY HD/LLD
Swing PE
• Client: OPaL (jv ONGC, GSPC, GAIL)
• Contract type: LSTK
• Value: ～ €320mn
• Contractor: Tecnimont
LDPE PLANT, VERACRUZ (MEXICO)
• Capacity: 300 KTY LDPE
• Client: Etileno XXI Services BV
• Contract type: EP
• Value: ～ €147mn
• Contractor: Tecnimont
AL SEJEEL POLYOLEFINS COMPLEX
RAS LAFFAN (QATAR)
•
•
•
•
TAHRIR PETROCHEMICAL COMPLEX
(EGYPT)
• Capacity: utilities and offsite facilities
• Client: Carbon Holdings
• Contract type: EPCC
• Value: US$1.7bn /1.95bn (MT share: 50%)
• Contractor: Tecnimont
PDH/POLYPROPYLENE PLANT
AL JUBAIL (SAUDI ARABIA)
• Capacity: 467 KTY Propane dehydrogenated;
450 KTY PP
• Client: Al Waha (jv Sahara, LyondellBasell)
• Contract type: EPC
• Value: ～ €580mn (MT share €358 mn –
consortium Daelim) Contractor: Tecnimont
> 1000 €m
500 to 1000 €m
Capacity:approx. 2.2 MTPA PE and PP
Client: Qatar Petroleum
Contract type: FEED
Contractor: Tecnimont
BOROUGE 3 – Expansion
RUWAIS (UAE)
• Cpacity: 480 KTY PP; 428 KTY PP;
2X540 KTY PE; 350 KTY LDPE
• Client: BOROUGE (jv ADNOC – Borealis)
• Contract type: LSTK
• Value: US$1.86 bn (jv Samsung – MT 55%)
• Contractor: Tecnimont
LDPE PLANT
SADARA (SAUDI ARABIA)
• Client: Sadara Chemical
Company
• Contract type: EP
• Value: ～ US$210mn
• Contractor: Tecnimont
200 to 500 €m
POLYOLEFINS COMPLEX
RABIGH (SAUDI ARABIA)
• Capacity:2 x 350 KTY PP; 250 KTY EPPE; 350 KTY LLDPE;
300 KTY HDPE; 50 KTY Butene-1
• Client: Petro Rabigh (jv Aramco - Sumitomo)
• Contract type: EPC – Contractor: Tecnimont
• Value: US$1,200mn (MT share US$768 mn )
(consortium Sumitomo Chemical Eng.Co)
POLYOLEFINS COMPLEX - BOROUGE 2
RUWAIS (UAE)
• Capacity: 400 KTY PP; 400 KTY PP; 540 KTY PE
• Client: BOROUGE (jv ADNOC - Borealis)
• Contract type: EPC
• Value: US$1.8bn
• Contractor: Tecnimont
< 200 €m
12
E&C: Main Oil & Gas Projects (1/2)
COMPLETED PROJECTS
UNDER REALISATION PROJECTS
REFINERY OFF GAS PROJECT (ROG),
ANTWERP (BELGIUM)
MILD HYDROCRACKING UNIT,
BUSALLA (ITALY)
• Client: IPLOM
• Contract type: EPC
• Value: €65 mn
• Contractor: KT
•
•
•
•
Client: TOTAL Olefins Antwerpen (Total Group)
Contract type: EPCa
Value: ～ €190 mn
Contractor: KT
UNDERGROUND STORAGE STATION
WIERZCHOWICE (POLAND)
• Capacity:Exp. To 1.2 billion STDm3
• Client: PGNiG
• Contract type: EPC
• Value: ～€383mn (MT share €99.2m consortium PBC)
• Contractor: Tecnimont
OIL AND GAS TREATMENT "TEMPA ROSSA“
CORLETO PERTICARA (ITALY)
• Client: Total E&P Italia S.p.A.(Total Group)
• Contract type: EPSCC
• Value: ～ €567mn
• Contractor: Tecnimont and KT
LNG TERMINAL
CHENTOUJIA, GUANGDONG (CHINA)
•
•
•
•
SONARA PHASE II EXPANSION PROJECT, LIMBÈ
(CAMEROON)
• Client:SONARA
• Contract type: EPCCS
• Value: approx. US$612mn
• Contractor: KT
NAGRP/AGRP REVAMPING PROJECT
KUWAIT CITY (KUWAIT)
• Capacity: Acid Gas Removal Plant (230 mscfd – 78,000 BPD)
• Client: KNPC
• Contract type: LSTK
• Value ～ €320mn
• Contractor: Tecnimont
AROMATICS COMPLEX
SHUAIBA (KUWAIT)
• Capacity:768 KTY PX; 325 KTY BZ
• Client: KUWAIT PARAXYLENE PRODUCTION
COMPANY (KPPC)
• Contract type: EPC
• Value: US$1,228mn (MT share US$730mn consortium SKEC)
• Contractor: Tecnimont
Client: GUANGDONG LNG JEO
Contract type: EPC
Value: ~ €280mn (MT share 45% - jv Saipem)
Contractor: Tecnimont
INTEGRATED GAS DEVELOPMENT – HABSHAN 5
(ABU DHABI – UAE)
Capacity: Gas Treatment 2,150 mmcf/day; Sulphur Product
5,200 ton/day (4 trains of 1,300 ton/day each)
• Client: GASCO
• Contract type: EPC LSTK
• Value ～ US$4.7bn (MT share 50% - jv JGC)
• Contractor: Tecnimont
> 1000 €m
500 to 1000 €m
200 to 500 €m
< 200 €m
13
E&C: Main Oil & Gas Projects (2/2) – KINETICS TECHNOLOGY
COMPLETED PROJECTS
UNDER REALISATION PROJECTS
SULPHUR COMPLEX, GDANSK (POLAND)
•Client: Grupa Lotos SA
•Contract type: EPC
•Value: €111 mn
•Contractor: KT
AMMONIA AND PROCESS OSBL PROJECT,
IOWA (USA)
•Client: Orascom Construction Industries
•Contract type: EP
•Value: €10 mn
•Contractor: KT
LUBEREF YANBU REFINERY EXPANSION PROJECT,
YANBU – (KSA)
• Client: Samsung
• Contract type: EP
• Value: €12mn
• Contractor: KT
SULPHUR RECOVERY UNITS, MOSTOROD (EGYPT)
• Client: Egyptian Refinery Company
• Contract type: EP
• Value: €97mn
• Contractor: KT
SULPHUR RECOVERY UNIT, BURGAS (BULGARIA)
• Client: OOO Lukoil Neftochim Burgas AD
• Contract type: EPC
• Value: €52.5 mn
• Contractor: KT
SULPHUR RECOVERY COMPLEX, MILAZZO (ITALY)
• Client: Raffineria di Milazzo (RAM)
• Contract type: EPC
• Value: €42 mn
• Contractor: KT
500 to 1000 €ml
200 to 500 €ml
MODULARIZED HYDROGEN
PRODUCTION PLANT, PERM’ (RUSSIAN
FEDERATION)
• Client: LUKOIL PERMNEFTEORGSINTEZ
• Contract type: EPC
• Value: €44.5 mn
• Contractor: KT
HYDROGEN PLANT, AL DAURA (IRAQ)
• Capacity: 4,000 Nm3/h
• Client: MIDLAND REFINERIES COMPANY (IRAQI STATE
COMPANY FOR OIL PROJECTS)
• Contract type: EPC
• Value: €14.2 mn
• Contractor: KT
NEW HYDROGEN PRODUCTION UNIT CADEREYTA
REFINERY, CADEREYTA, MONTERREY (MEXICO)
•Client: Pemex Refinaciόn
•Contract type: EPC Lump sum
•Value: €22 mn
•Contractor: KT
> 1000 €ml
OIL & GAS TREATMENT PLANT, LUBIATOW (POLAND)
• Client: Polish Oil & Gas Company
• Contract type: EP
• Value: €91 mn
• Contractor: KT
HYDROGEN GENERATION PLANT, RIJEKA (CROATIA)
• Client: Ina Industrija Nafte
• Contract type: EPC
• Value: €81.2 mn
• Contractor: KT
< 200 €ml
14
E&C: Main Fertilizers Projects
COMPLETED PROJECTS
UNDER REALISATION PROJECTS
AMMONIA PLANT
KINGISEPP (RUSSIAN FEDERATION)
•Capacity : 2.7K MTPD (KBR Technology); Utilities
and Offsites
•Client: EuroChem Mineral and Chemical Company
•Contract type: Engineering Works
•Value: ~€15mn
•Contractor: Tecnimont
IOWA (USA)
• Capacity 2,200 t/d
• Client: Orascom Construction Industries
• Contract type: EP
• Value: ～ US$250mn
• Contractor: Tecnimont (Ammonia Plant)
• Licensor: Stamicarbon (Urea Plant)
AMMONIA PROJECT URUMQI
XINJIANG (CHINA)
• Capacity: 1,000 T/d
• Client: SINOPEC for Urumqi General
Petrochemical Works
• Contract type: Licence, Engineering,
Procurement, Technical Assistance
• Value: US$87mn
• Contractor: Tecnimont
FERTILIZERS COMPLEX
ASWAN (EGYPT)
• Capacity: Ammonia Unit 1,200 T/d; Urea Production Unit 1,575
T/d; Urea Granulation Unit 1,575 T/d; Utilities & Off-site facilities
• Client: KIMA
• Contract type: EPCC LSTK
• Value: US$530mn
• Contractor: Tecnimont (Ammonia Plant)
• Licesor: Stamicarbon (Urea Plant)
UREA DEBOTTLENECKING &
GRANULATION PLANT
SHUAIBA (KUWAIT)
• Capacity: 1,750 T/d urea melt; 2 x 1,750
T/d urea granulation
• Client: P.I.C.
• Contract type: EPC
• Value: US$100mn
• Contractor: Tecnimont
> 1000 €ml
500 to 1000 €ml
200 to 500 €ml
AMMONIA/UREA PLANTNEVINNOMYSSK
(RUSSIAN FEDERATION)
•Capacity : Ammonia :2.7K MTPD (KBR Technology); Granular
Urea: 3.5K MTPD (Stamicarbon technology); Utilities and Offsites
•Client: EuroChem Mineral and Chemical Company
•Contract type: Engineering Works
•Value: ~€15mn
•Contractor: Tecnimont
AMMONIA PROJECT Hejiang
SICHUAN (CHINA)
• Capacity: 1,000 T/d
• Client: CNTIC for Sichuan Natural Gas
Chemical Plant
• Contract type: Licence, Engineering,
Procurement, Technical Assistance
• Value: US$80mn
• Contractor: Tecnimont
FERTILIZER COMPLEX PROJECT
AL-JUBAIL (KINGDOM OF SAUDI ARABIA)
•
•
•
•
•
< 200 €ml
Capacity: 1.5K t/d ammonia; 1.8K t/d urea
Client: SAFCO
Contract ype: LSTK
Value: US$350mn
Contractor: Tecnimont
AMMONIA PLANT NANGAL
PUNJAB (INDIA)
• Capacity: 950 T/y
• Client: National Fertilizers Ltd.
• Contype: EPCC LSTK
• Value: US$262mn (Consortium with TICB)
• Contractor: Tecnimont
15
FOCUS ON KEY MEGA PROJECTS: Habshan 5 (1/2)
Habshan 5 is one of the largest gas treatment plants under realization worldwide and has been
developed to accommodate additional Offshore Gas production and additional associated gases
that will become available as a result of the expansion of ADCO’s onshore oil production
Client: GASCO (ADNOC Group), the operating company
responsible for the processing of natural and associated gas
onshore oil operation in UAE, is one of the largest gas processing
companies in the world
Contract Value: US$4.7 billion 50/50 jv JGC-Tecnimont
INVOLVED OPERATING CENTRES
Tecnimont Milan
Operating Centre
Area: Habshan area, 150 km S-W Abu Dhabi
KT
Rome
Plant Capacity: Gas Treatment 60 MM m3 /day; Sulphur
Product 5,200 ton/day
Tecnimont scope of work: EPC, Pre Commissioning and
Testing plus 2 Years Operation Spare Parts
JGC Yokohama
Operating Centre
Total manpower on site: 30,000 (10,000 Tecnimont)
JGC Philippines Inc.
Manila
PLANT OPERATION - CRITICAL POINTS

Selection of Project Managers: A- Team

Coordination of procurement and logistics

Selection of Sub-Contractors

Constant Control of project advancement with monthly
meetings with clients: resolution of bottlenecks

Construction execution plan

Commissioning/start up execution plan
GASCO PJ Site Office
JGC Descon
Lahore
Tecnimont, ICB
Mumbai
16
E&C: Other Activities
POWER GENERATION
Maire Tecnimont has developed excellent
capabilities in Italy and abroad in EPC
projects for power plants:
• simple-cycle and combined-cycle
gas-fired power plants
• coal-fired power plants
• hydro, biomass and waste-to-energy
plants
• cogeneration
• re-powering
• electrical and energy distribution
systems for civil and industrial use
• district heating systems
INFRASTRUCTURE
The Group offers partial or global
services for the realization of:
• railways including high speed/high
capacity
• underground metro systems
• highways and motorways
• tunnels
It also provides high-technology and
environmentally sustainable mass
transport systems, with a full set of
services ranging from environmental
impact assessments.
17
TECHNOLOGY & LICENSING
Advanced technology services combined with intellectual property and licensing services
 +40 years experience in the development and
licensing of urea, hydrogen & syngas, gas treatment and
sulphur recovery technologies
 Services and know-how ranging from conceptual
studies,
technology
selection,
process
design
packages and up to full detail design and supply of
proprietary equipment
 Delivering Full Life-Cycle Support comprising a
range
of
services,
maintenance,
from
planned
troubleshooting,
to
inspections
and
round-the-clock
emergency assistance
In-house proprietary technology portfolio of more than 90 patent families registered in many countries
around the world, with a total of over 1000 individual patents
18
ENERGY BUSINESS DEVELOPMENT & VENTURES
The division develops and promotes new ventures connected
with the Group’s core business in order to strengthen its position
in emerging new markets and business models
 Project
Venturing
the
whole
Development
Group
&
coordinates
process
and
the
various financial, institutional and
technical
leveraging
actors
involved
advanced
technical
and financial skills to promote
projects in which the Group can
play a pivotal role
 Business Development Group comprises a number of working groups charged with developing new
and adjacent business areas
19
Group Overview
Strategy & Business
Main Financial Data
20
MAIN GROUP FINANCIALS
FY 2013
in €mn
Revenues
EBITDA
Group Net Income
Backlog
H1 2014
△H1’13/H1’14
1,656
757
+2.6%
116
53
+24.6%
17
19
+93.9%
3,482
3,708
+225.6*
*Referred to 31.12.2013 value
REVENUES BY SECTOR
(H1 2014)
Power
4%
BACKLOG BY GEOGRAPHIC AREA
(H1 2014)
Infrastructure and
Civil Engineering
10%
Oil, Gas &
Petrochemicals
86%
21
Milan
Rome
Group’s Headquarters
Via Gaetano De Castillia, 6A
20124 Milan
Ph. +39 02 6313.1
Fax +39 02 6313.9052
Registered Office
Via Castello della Magliana, 75
00148 Rome
Ph.+39 06602161
Fax +39 0665793002
Sittard
Mercator 3
6135 KW Sittard
(The Netherlands)
Ph. +31 46 4237000
Fax +31 46 4237001
[email protected] – www.mairetecnimont.com