Subsea Market and Strategy. Christophe Armengol Vice President, Subsea Strategy and Market Analysis March 30, 2010

Transcription

1 Subsea Market and Strategy Christophe Armengol Vice President, Subsea Strategy and Market Analysis March 30, 2010

2 Subsea market: Overview Significant slowdown in 2009, but Technip maintained its leading and resilient position Subsea market activity should pick up going forward Key driver of activity will be complex and deepwater projects 2

3 Market shares today Technip ahead during the growth period Market share* average and still the leader in Market share* 27% 31% 21% 41% 42% 38% Technip Subsea 7, Acergy, Saipem Technip Subsea 7, Acergy, Saipem Others Others *: Technip estimates based on project awards excluding shallow water and trunkline markets in Africa, Gulf of Mexico, Middle-East, Asia-Pacific and variation orders 3

4 Technip today: focused on profitability 20% Subsea Operating Margin* 15% 10% 5% Technip Subsea Saipem Offshore 0% % -10% Subsea 7 Acergy -15% (*) Not restated, figures as published by contractors 4

5 Looking ahead: Major oil companies announced an increase in Final Investment Decisions Leading indicators show a positive trend: Positive signs for FPS* awards 88 awards 59 awards F 2011F 2012F Floater solution still to be defined OTHER FLOATERS (FPU/Spar/TLP, Semi, FLNG) FPSO (new built & converted) Subsea tree awards picking up 1,200 1, Source: Technip Source: Quest Offshore (*) Floating Production System 5

6 Different expectations across regions North Sea Market slowdown in 2009 Significant recovery in tendering activity Gulf of Mexico Currently steady, fueled by high demand for tie-backs New wave of FPS developments Africa Awards in 2009 were delayed Angola and Nigeria showing signs of movement Egypt still moving Deepwater opportunities in new areas (Ghana, Equatorial Guinea, etc...) Brazil Growing market Significant non pre-salt Step-change in Pre-salt market size to materialize from 2014/2015 Asia Pacific Emerging deepwater market in Malaysia, Australia, Indonesia and China Large increase in gas-related projects Healthy shallow/medium depth market requiring flexible pipe solutions: FPSOs Tie-backs Replacement of corroded pipes 6

7 Future growth areas: Subsea market growth drivers Asia Pacific & India Emerging area for ultra deepwater projects Pipeline (Flexible & Rigid) installed in water deeper than 1,000 meters* Pipeline installed (in km) 16,000 Breakdown , % Gulf of Mexico 8,000 Africa 40% 21% Sources: Technip, Infield 4, % Brazil 14% Asia Pacific India *Excluding Pre-Salt effect 7

8 Deepwater flexible market* expected to represent 60% of the market over Brazil is leading growth in deep and ultra deepwater 100% Worldwide Flexible Market Water Depth >1,000 meters % 60% <1,000m 16% 40% 20% >1,000m 84% Rest of World Brazil 0% Water Depth in meters: < < <1,000 1,000 - <1,500 >1,500 *Excluding Pre-Salt effect Sources: Technip 8

9 Technip: Unmatched capability to design and execute successful projects High tech global assets Vertically integrated business Worldwide organisation for seamless project execution Strategic position in faster growing emerging markets Leadership in subsea technologies 9

10 Combination of high-tech assets and global footprint matched to market needs High Technological Assets Cecon Ezra Veolia COEEC Mermaid Clough Helix Bibby AKS DeepOcean TS Marine Marine Subsea Hallin Seatruck DOF Oceanteam Saipem Subsea 7 Allseas JRM Acergy Hereema Wellstream Global Low Technological Assets Valentine NPCC Swiber Larsen&Toubro HHI Regional Operations Worldwide Operations Sources: Technip 10

11 Unmatched vertically integrated business to optimize design & execution 1 R&D Design & Project Management 2 World-class R&D facilities Le Trait (France) Aberdeen (UK) Newcastle (UK) Rio & Vitoria (Brazil) New prototypes Proprietary technology R&D Centers close to production sites Strategic locations Paris Aberdeen Oslo Houston Kuala Lumpur Perth Rio de Janeiro Optimized solutions A la carte engineering Dedicated teams around the world 4 Install & Monitor Manufacture & Fabricate 3 Le Trait (France), Vitoria (Brazil), AsiaFlex (Malaysia) Vessels designed to install our pipes Vertical Laying system Monitoring Spoolbases: Evanton (UK), Orkanger (Norway), Mobile (USA), Dande (Angola) Logistic bases: Vitoria, Angra Porto (Brazil) Umbilicals: Newcastle (UK), Houston (USA), Lobito (Angola) Flexibles pipes Umbilicals Manufacturing plants on all continents 11

12 Worldwide organization for seamless project execution Example: Cascade & Chinook Cascade & Chinook World record depth for Hybrid Free Standing Riser in 2,500m - 2,640m of water Installation ongoing - on schedule Houston St John s Multi vessel installation (Incl. Deep Blue / Deep Pioneer) Coordinated Engineering teams from Offshore & Subsea divisions Aberdeen Le Trait Pori Paris Fabrication of the flexible pipes at Le Trait Rio de Janeiro 12

13 Strategic position in faster growing emerging markets Technip Subsea revenues (in m) 2,866 Northern Hemisphere Southern Hemisphere 1,257 67% 33% 48% 52% Sources: Technip 13

14 Strategic position in faster growing emerging markets Strategic Capital Expenditure ( ) Development Strategy Generic - Non Attributable 29% 26% Northern Hemisphere Investments Manufacturing plants 45% Southern Hemisphere Human resources Marine Assets Spoolbases and Logistic Bases Sources: Technip 14

15 Growing R&D investments expand leadership in subsea technologies Ultra deepwater: Weight of pipelines (flexible, rigid, umbilicals) Alternative installation methods Hybrid System Riser More challenging reservoirs Flow assurance High Pressure/High Temperature Corrosive Fluids Operational and Riser Integrity Management 15

16 Subsea market: Conclusion Significant slowdown in 2009, but Technip maintained its leading and resilient position Subsea market activity should pick up going forward Key driver of activity will be complex and deepwater projects 16

17 Thank you Christophe Armengol Vice President, Subsea Strategy and Market Analysis March 30, 2010