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Source : BP Migas
Industry Outlook
Change in Government Policy toward Oil & Gas Industry
(!)!*+! ,-*.(/&+.-(
• Proceeds from oil and gas
• Saving of procurement cost and optimizing asset
• Oil and gas transaction and placement of ASR through state owned banks
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• Energy source for industry, transportation and consumer
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feedstock, refining, gas and power
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• Increase local content • As the multiplier effect
for local industry growth
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Source : BP Migas
Market share of local and foreign flagged OSVs
Industry Outlook
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Total 531 vessels
Total 611 vessels
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Increase in units of Indonesian flagged OSVs
Source : BP Migas and WINS
Industry Outlook
Source : BP Migas
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Creating a Sturdy Business Platform with Young
and Diversified Fleet
(l
• Sale of 4-6 low value vessels
• Upgrade and retrain crew and shore based teams
• Buy Mid and High tier Vessels to raise margins
Reduce Low Value Vessels
Diversified fleet
• Provides a one-stop solutionto
14
• Provides a one-stop solutionto valued customers
Focus on vessel in higher value chain
• Achieve better margins– fewer competitors
• Higher barriers to entry as track record counts with international oil companies
Industry Outlook
Positive Regulatory Environment - Cabotage Deadline *
43 C 4- 6 +5+ C A C 4- 5 $ "%Komposisi armada
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By end 2013, 61% of fleet will comprise of mid to high value vessels
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Achievements – 2012
•
Fleet
• Sold 6 low tier, added 2 high tier and 1 mid tier vessels
• Total Capex of approximately USD 50 million
•
Financial Performance
• Net profit growth of 23% to USD 20.2million
• Owned vessel revenues grew 20% on new vessel additions
• Chartered Vessel revenues fell 13%, but gross profit grew 10%
• Chartered Vessel revenues fell 13%, but gross profit grew 10%
• 27% rise in EBITDA to USD40million as business mix shift in favor of
higher margin owned vessels
•
Strategic Alliances
• Signed Joint Venture with POSH Singapore to target high tier
AHTS market
Industry Prospects 2013
• Niko Resources drilling 22 wells in Indonesia with 5 year contract • BP Tangguh in Papua to start drilling in 4Q2012 for 3rd and 4th LNG
Train, total investment USD 12bn
• ENI Djangkrik field with USD4bn project cost
• Pertamina Hulu Energy, upstream arm of Pertamina, allocating USD1bn in North West Java
• Pertamina West Madura Offshore adding another rig in Madura • Chevron Indonesia Deepwater Development : USD 7 bn project • Chevron Indonesia Deepwater Development : USD 7 bn project
starting in June 2013 for a period of 10 years
• Inpex Masela to start in 2013 to build world’s largest floating LNG terminal
• 2013 approved investment commitment in Indonesia is USD 26.2 bn, higher than of 2012 which was USD 21.88 bn:
- 74 Exploitation Work Area of USD 23.50 bn - 200 Exlporation Blocks of USD 2.3 bn
4 Years Review
7
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Financials (in USD Million ) – Dec 31, 2012
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• Expand Fleet
• Acquire up to10 medium to high value vessels • 3 vessels delivered in 1Q2013
• Total Capex of approximately USD 60 million
• Financial Performance
• Revenue growth will be higher than of 2012
• Gross profit from own vessels higher because of full year impact • Gross profit from own vessels higher because of full year impact
of new vessels in 2012
• Some start up costs relating to new vessel deliveries will affect gross margins
• Strategic Alliances
• Joint ventures with strategic partners to operate high tier vessels • Work with financial partners for longer term funding to support our
growth
Attracting Prominent Oil Companies through Excellent Safety and Security Track Record
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