ANALYST BRIEFING January 2012

Transcription

1 ANALYST BRIEFING January

2 CONTENTS 1. IEV GROUP - Who are we? 5 2. Major projects awarded since IPO 7 3. Updated Order Book Offshore Engineering Sector Mobile Natural Gas Sector Salient Highlights 22 2

3 WHO ARE WE? 3

4 WHO ARE WE 25 years A 25-year old engineering service provider in the oil and gas industry Provider of live-to-end offshore engineering solutions Leading developer and operator of mobile natural gas supply chain Smart strategic alliance partnerships Regional network of operations 4

5 IEV LISTED ON SGX-ST CATALIST Successfully listed on 25 October 2011 at an IPO price of S$0.30/share Trading at 63% premium over IPO price today. 5

6 MAJOR PROJECTS AWARDED SINCE IPO 6

7 OFFSHORE ENGINEERING SECTOR SECURED NEW PROJECTS Date Announced Segment Work Scope 8 Nov 2011 JPIS 19 Dec 2011 MFD 27 Dec 2011 DS Grouting services for 12 offshore structures in India, Indonesia and Myanmar EPCIC of wellhead platform, new pipeline and host tie-in to existing offshore production facilities. Turnkey decommissioning project for EPRD of a vent platform and associated pipelines Value (RM'mill) Not disclosed Expected Completion 2Q Q H2012 EPCIC: Engineering, Procurement, Construction, Installation and Commissioning EPRD: Engineering, Preparation, Removal and Disposal 7

8 MOBILE NATURAL GAS GSA RENEWALS Date Announced 4 Jan 2012 Renewal of take-or-pay GSA subject to a minimum off-take of 85% of the contracted units of energy to purchase CNG from IEV. Description CNG (in mmbtu) Customer Duration Approx. 450,000 (computed based on a assumed average delivery rate of 18,750 mmbtu per month) PT Indofood 24 months from Dec 2011 to Nov 2013 Listing of 20.5% owned associate company CNG Vietnam Joint Stock Company on HOSE Date Announced 25 Nov 2011 Description CNG Vietnam currently supplies CNG to 18 customers in South Vietnam and is believed to be the primary CNG supplier in Vietnam 8

9 UPDATED ORDER BOOK 9

10 UPDATED ORDER BOOK Offshore Engineering Sector As of Dec 31, 2011: > RM280m (approximately USD 89 million) Mobile Natural Gas Sector Throughput with PT Odira until August 2012: 4,357,000 mmbtu (2,015,000 mmbtu delivered as at 18 September 2011) Take or pay GSA with PT Indofood from December 2011 December 2013: 450,000 mmbtu 10

11 OFFSHORE ENGINEERING SECTOR 11

12 OFFSHORE ENGINEERING SECTOR INTEGRATED ENGINEERING SOLUTIONS Provider of live-to-end engineering solutions to offshore oil and gas production facilities MARGINAL FIELD DEVELOPMENT Provider of turnkey engineering, transportation and installation for marginal field development

13 INTEGRATED ENGINEERING SOLUTIONS Decommissioning Solutions (DS) Jacket & Pipeline Installation Solutions (JPIS) Structural Integrity Solutions (SIS) Rigless Well Intervention Solutions (RWIS) Inspection, Repair & Maintenance Solutions (IRMS) Life Extension Solutions (LES) NEW FACILITIES EXISTING FACILITIES AGEING ASSETS AGED / ABANDONED FIELD GREEN FIELD BROWN FIELD

14 OES - GREEN FIELD OPPORTUNITIES UPDATE 200 GFB ACCOUNTS ( ) IN ASIA PACIFIC Source: Petrodata INDONESIA 47 projects AUSTRALIA 20 projects MALAYSIA 41 projects CHINA 19 projects VIETNAM 27 projects THAILAND 17 projects INDIA 24 projects MYANMAR 5 projects 14

15 MARGINAL FIELD DEVELOPMENT (MFD) MARGINAL FIELD DEVELOPMENT THROUGH PLATFORM REUSE IEV is 1 st contractor to offer a turnkey MFD by platform reuse in Asia Platform reuse is a fast-track and cost effective development concept Platform reuse has great potential as marginal fields are being developed to slow down the decline in oil production throughout Asia 15

16 MARGINAL FIELD DEVELOPMENT PLATFORM REUSE - A BLUE OCEAN STRATEGY? An EPCIC contracting strategy with no competitors? Can Platform Reuse be the catalyst for decommissioning business in Asia? Can IEV leverage platform reuse concept to champion decommissioning business in Asia? Localisation of platform reuse to tap into the large inventory of ageing assets in Asia An integration of IEV s Decommissioning and Jacket & Pipeline Installation Solutions 16

17 POTENTIAL MFD OPPORTUNITIES 126 MFD OPPORTUNITIES ( ) IN ASIA PACIFIC Source: Infield INDONESIA 20 fields AUSTRALIA 26 fields MALAYSIA 20 fields CHINA 28 fields INDIA 18 fields VIETNAM 12 fields THAILAND 12 fields 17

18 MARGINAL FIELD DEVELOPMENT LAUNCH OF MARGINAL FIELD DEVELOPMENT (MFD) BUSINESS DIVISION Platform Refurbishment Feasibility Study, FEED & Detail Design Permitting Platform Decom Decommissioning Procurement of Process Equipment Feasibility Study Engineering & Refurbishment / Modification Transportation & Installation Load-Out, Transportation & Installation Hook-Up & Commissioning Hose Tie-In Hook-Up & Commissioning 18

19 MOBILE NATURAL GAS SECTOR 19

20 MNG INDUSTRY UPDATES LNG market will continue to tighten 2012 to 2014 and will be supply constrained from 2015 to 2017 (Global LNG report from J.P. Morgan Jan 2012) In near term, this is supportive of oil-indexed LNG contract pricing USD 14 to USD 16/mmbtu. Pipeline gas prices varied significantly from country to country, depending on subsidy policy and domestic versus import sources, but are increasing rapidly CNG prices have reached USD 14/mmbtu in Indonesia and USD 17/mmbtu in Vietnam PLN is negotiating to import LNG from Qatar at USD 14/mmbtu Thailand increased CNG price from January 2012 Indonesia to implement NGV program in Q2,

21 ENERGY PLANS AND STRATEGIES 1. Sources of Feed Gas Current MNG supply chain is reliant upon feed gas from gas traders and/or piped gas distribution companies IEV is developing new MNG supply chains in Indonesia on stranded gas wells 2. MNG Business Model CNG LNG Industry sector Transport and Power sector 3. Complete Energy Company Upstream, midstream and downstream activities Participation in bids for KSO & O&G concessions E&P, processing, distribution and application of CNG/LNG 21

22 SALIENT HIGHLIGHTS We operate in a vibrant industry We are an innovative and dynamic company (culture) We offer strong growth potential in both engineering and energy sectors We develop sound blue ocean strategies and implementation plans We are well established and with a long and proven track record We are risk diverse 22

23 Thank You Q&A 23