BACC Ship Finance_2

7/26/2019 BACC Ship Finance_2

1/17

PETROBRASOpportunitiesfor

theOffshore

Industry

June18,2013


2/17

DISCLAIMER

The presentation may contain forward-looking We undertake no obligation to publicly update

FORWARD-LOOKING STATEMENTS

of Section 27A of the Securities Act of 1933, as

amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended, that are notbased on historical facts and are not assurances offuture results. Such forward-looking statements

or revise any forward-looking statements,whether as a result of new information orfuture events or for any other reason. Figuresfor 2013 on are estimates or targets.

mere y re ec e ompany s curren v ews anestimates of future economic circumstances,industry conditions, company performance andfinancial results. Such terms as "anticipate",

"believe", "expect", "forecast", "intend", "plan","project", "seek", "should", along with similar or

All forward-looking statements are expresslyqualified in their entirety by this cautionarystatement, and you should not place relianceon any forward-looking statement containedin this presentation.

analogous expressions, are used to identify suchforward-looking statements. Readers are cautionedthat these statements are only projections and maydiffer materially from actual future results orevents. Readers are referred to the documents filedby the Company with the SEC, specifically the

NON-SEC COMPLIANT OIL AND GASRESERVES:

CAUTIONARY STATEMENT FOR US INVESTORS

Companys most recent Annual Report on Form 20-F, which identify important risk factors that couldcause actual results to differ from those containedin the forward-looking statements, including,among other things, risks relating to generaleconomic and business conditions includin crude

,

such as oil and gas resources, that we are notpermitted to present in documents filed withthe United States Securities and ExchangeCommission (SEC) under new Subpart 1200 toRegulation S-K because such terms do not

oil and other commodity prices, refining marginsand prevailing exchange rates, uncertainties

inherent in making estimates of our oil and gasreserves including recently discovered oil and gasreserves, international and Brazilian political,

,reserves under Rule 4-10(a) of Regulation S-X.

2


3/17

InvestmentsintheCountryCatalyzetheShipbuildingandOffshoreIndustry:

US$

107.6

billion

Refining, Transportation and CommercializationUS$ 71.6 billion

Exploration and ProductionUS$ 131.5 billion

2.9(4%)

3.5(5%)

1.0(1%)

21.1(16%)

31.2(44%)16.3

5.6(8%)

25.4(19%)

US$83.6.

(21%)

12.117

89.9(68%)

.

Petrochemicals

Expansion of FleetExpansion of Refining Park

Operational improvementProduction Development

Biofuels

Allocation of National Oil

Compliance with Internal MarketInfrastructure and Support

Exploration


4/17

Constructionof132Units:DrillingRigs,Stationary

ProductionUnits(SPU)andTankers

Priority: OIL PRODUCTION, Brazil: 2.022 4.200 mbpd

38 SPU by 2020: 65% < Local Content < 80%45 Rigs by 2020: 15 without local content 3

2SPU

bpd)

30 with 55% < Local Content < 70%

49 Tankers by 2020: 65% < Local Content < 74%7

SPU

8SPU

7Rigs

2Rigs

4.200ctionCurve(

1/1

SPU

3/7SPU

3SPU

1SPU

SPU

7

7Rigs

5Rigs

2

5

Tankers

6Tankers

ndNGLProdu

10/104/42/2Rigs

1/1Rig

88

Tankers

5Tankers

Tankers

2.500

2,022

Oil

1 Tanker3/3Tankers 3

TankersTankers

(4 unitsdelivered

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

(1 unitdelivered) (11) (11) (9) (23) (20) (16) (17) (10)

delivered)

delivered)


5/17

MajorShipyardsandGantriesw/TradeRelationswithPetrobras


6/17

MainShipyardsinBrazil

Flexibilityinconcessionagreements

MarMediterrneoPartners:CamargoCorraandQueirozGalvo(since2005)

TechnologyPartner: Ishikawajima

Atlntico Sul (PE)

UnitUnderConstruction:

P62

Contracts:

6drillingrigs(Sete Brasil)

Onwnership /Technology:KeppelFELS Singapore(inBrazilsince2000)

RecentUnitsbuilt:P57,P56andFPSOCidade deSoPaulo

UnitsUnderConstruction:

FPSOCidade de

Paraty

Contracts:

6drillingrigs(Sete Brasil)

Modulesintegrationofthe

FPSOs forthePresalt

Partners:EcovixEngevix

(created in2010)

UnitsUnderConstruction:

RioGrande

Shipyard

Partners:QueirozGalvo,UTCEngenharia

and Iesa (since 2005)

Recent unit built:P53

Quip

8FPSOHulls(forthePresalt)

P55(Topside)

Contractsfor

3drilling

rigs

(Sete

Brasil)

P55(modulesintegration)

P62

P63

P58

Deckmating

conclusion

performed

by

QUIP

in

Rio

GrandeShipyard.Theoperationwastheheaviest

structureeverliftedintheworld(17thousandtons)6


7/17

MainShipyardsinBrazilNewshipyardsthatwillincreasetheBraziliancapacity

MarMediterrneo 17 new shipyards currently under construction, getting license or

financing approved by FMM (some capable of building platforms, rigs

and tankers)

PetrobrasleasedInhama shipyard to

Companhia Brasileira deDiquesCDB for

20years.

EstaleiroInhauma (RJ)

Partners:Odebrecht,OAS andUTC(70%)

Technology:KawasakiJapan(30%)

Contracts:

EnseadadoParaguau(BA)

Contracts forthe Transfer of Rights (with

Odebrecht,OASand UTC):

P74:hull

P75:hull

P60

6 drillingrigs

Jurong Aracruz ES

Ownership:SembCorp Marine(SCM)from Singapore

ConstructionworksstartedinDec/11.

Ex erience:Sembcor Marinealread o eratesinBrazil

P76:hull

P77:hull

inexisting

shipyards

for

nearly

14

years

,having

built

P

50, P54,P43,P40,P38

Contracts with Petrobras:

7drillingrigs

P74

Source:SINAVAL7


8/17

Rio Grande Shipyard ERG1 - RS

7

5

1

3

3

4

2

Aerial View of the Estaleiro Rio Grande ERG1 - RS (09/03/12).

(1) Ecovix's Sheets Yard; (2) Sub-blocks Yard of Ecovix's replicating hooves; (3) QUIP's modules gantry for topside and integration of the P-55; (4 ) IESA's modules gantry; (5) Pre-constructionarea, with detail to the yellow blocks of Konecranes Goliath type portico (largest crane in the world: 210m span and capacityof 2,000 tons) delivered in Aug/12; (6) Integration work of the P-55;(7) Construction work of Estaleiro ERG 2, where it will be built 3 Setebrasil's Drillships (NS Cassino, NS Curumim and NS Salinas)


9/17

BrasFels Shipyard - RJ

2

3

Overview of Estaleiro BrasFels in Ang ra dos Reis - RJ (31/08/12).(1) P-61 (CL:65%): HULL'S Construction of TOPSIDE's TLWP and integration (deckbox and built modules in Singapore).(2) So Pau lo Ci ty FPSO (CL: 65%): HULL's Conversion in China and integration of the 16 mod., Built in Brasfels (5 mod), Enaval (1 mod), Thailand (8 mod) and China (2 mod).(3) Paraty City FPSO (CL: 65%): HULL's Conversion in Singapore and integration of 15 modules built in the Brasfels (5), Nuclep (4), Enaval (2), and Singapore (4).


10/17

Mau Shipyard - RJ

3

1

Overview of Estaleiro Mau, in Niteri - RJ (08/31/12).

(1) Romulo A lmeida Produc ts Sh ip: Third Lot's Ship of 4 PROMEF 1's products ships (1st Phase), with delivery scheduled for Dec/12;(2) JosAlencar Products Sh ip: Fourth Batch's ship of 4 PROMEF 1s products ships (1st Phase), with delivery scheduled for Mar/13;(3) 1s t Panamax Vessel: Construction, in the Estaleiro Mau dry dock, 1st batch's Panamax Ship of 4 PROMEF 1 ships (1st Phase), with delivery scheduled for Jan/14.


11/17

At lnt ico Sul Shipyard - PE

4

5

2

3

1

Estaleiro Atntico Sul (Ipojuca-PE): Construct ion of t he Zumbi dos Palmares ship in dry dock and integration of P-62 on the shipyard dock (08/29/12).

(1) P-62: Integration of the FPSO to the 15 modules, including 3 built in EAS, 7 in the UTC gantry and 5 in the Nuclep gantry(2) Zumbi dos Palmares SHIP of Suezmax type (2nd Lot's Ship of PROMEF 1) in dry dock; (3)Panel manufacturing workshops and pre-assembly of block,(4) Future area for construction of 7 Setebrasil's rigs ; (5) Future area of Estaleiro Promar, responsible for building the batch of 8 Promef Phase 2's gas tankers.


12/17

AgendaLeased FPSOs for Pre-salt

LulaLula PilotPilotOnOn streamstream sincesince OctOct/2010/2010

Baleia AzulBaleia AzulOnOn streamstream sincesince Set/2012Set/2012FPSO Cidade de AnchietaFPSO Cidade de Anchieta

SapinhoSapinho PilotPilotOnOn streamstream sincesince Jan/2013Jan/2013

a e e o au oa e e o au o

11stst Oil in May/2013Oil in May/2013

FPSOFPSO CidadeCidade dede ParatyParaty


13/17

PetrobrasVesselsCurrentandprojectedfleet

2020StrategicPlanning

FutureDemand(20132020)

CriticalResources

March/13

Situation

FutureSituation

AccumulatedValues(1)

By2017 By2020

TankerVessels(DWTx1000t) 16,000 19,000 24,500 +198LargeSupply+198LargeSupply

LargeSupplyBoats* 216 313 358

ProductionUnits(SSandFPSO) 50 72 84

DrillingRigs

(SWD>2.000

m) 41 44 54

+36Production

Units

+36Production

Units

(1) Thefuturesituationof2020doesnotreflectthesumofthecurrentsituationwithfuture

demand,astherearevesselswhosecontractsexpireby2020.Thisdemandmayberevised

asnecessary.

(2) FutureDemandincludeshireddemand,demandsinhiringphaseandyettobehired

demand.

+28DrillingRigs+28DrillingRigs

Significantequipmentdemandmapping:

Historicall im orted e ui ment with otential to attract orei n su liers

Source:Transpetro;PNG201317;Petrobras(E&PSERV/USCONTandABLO/TM)

Equipmentproducednationallybutwithpotentialbottlenecksinproductioncapacity

*AHTS,ORSV,PSV


14/17

DrillingRigsFleetincreaseby2020

+14

Drillin ri sconsidered orthe

PetrobrasDrillingRigsStartupTimeline

Equipmentdemandnot

yetaddressedforthe28drillingrigstobedelivery

equipmentdemandanalysis

Exampleofequipmentwith

potentialfornationaldevelopment

28DerrickStructure

+7

+8

28Travelingequipment

28ChokeandKillManifold

28setsofRisers

28BOP(parcial)

+4

+4

+5

se s e r ca ys em

168MainDieselGenerators(parcial)

28Emergencygenerators

84DeckCranes

168Azimut Thrusters

+1

2,716Pumps

840HVACSystem

28Accomodation

Source:Petrobras;Sinaval *Beingnegotiated.EstimatewillbeconfirmedatthecontractsigningBrazilAbroad

ConstructionSite


15/17

TankerVesselsFleetincreaseby2020

PetrobrasFleetGrowthProgramwith

BrazilianVessels

PROMEFIand

IIPROMEF

Iand

II EBN

Iand

IIEBN

Iand

II

49Vesselsby2020 39Vesselsby2017

4 deliveredVesselsand21Vesselsinadvancedstageof

12Products

8LPG

3Bunkers

14Suezmax

8Aframax

4Panamax

26Products

6Bunker

7LPG

2 Vessels in advanced sta e o constructionconstruction

24Vesselsinhiringphaseorinitial

constructionphase


constructionphase


constructionphase


constructionphase

Exampleofequipmentwithpotentialfornationaldevelopment

Equipmentdemand

not

yet

addressed

for

61

Vessels

(by

2020)

Source:Transpetro;Petrobras(ABLO/TM)

acuum ewage ys ems

53InertGasGenerationUnit

72LifeBoats+Davit

1.830AccomodationCabines


16/17

LargeSupplyVesselsFleetincreaseby2020

AHTSAHTS

CurrentPetrobrasFleet Quantity FutureDemand

+

198

Large

Supply

Vessels

by2020OSRVOSRV

MaintenenceTOs+DMAs+NewProductionUnits

Instalation+FPSO`sandNTsOperation

MaintenenceTOs+DMAs+NewProductionUnits

Instalation+FPSO`sandNTsOperation

36

(almostthesamequantityasthecurrent

fleet 216)

Oi RecoveryOi Recovery

PSVGeneralCargo+Oil +Bulk+Cement

PSVGeneralCargo+Oil +Bulk+Cement 125

Exampleofequipmentwithpotentialfornational

development

TSTugs+OilRecovery

TSTugs+OilRecovery

21

SOSStandby+HandlingSpy(messenger)SOSStandby+HandlingSpy(messenger)

SVSV

30

4

198Offshore

and

Provision

Cranes

198VacuumSewageSystems

396RescueBoats

Source:E&PSERV/USCONT

UT/PEmergencyCargo/Passenger

UT/PEmergencyCargo/Passenger 38

, anua pera e a ves

44,550tonofPiping

4,800ton

of

Fitting


17/17

Information:

Investor Relations

+55 21 3224-1510

[email protected]

.

www.petrobras.com.br/ir

17

Documents

BACC Ship Finance_2