analyst briefing - listed...
TRANSCRIPT
• 5 1. IEV GROUP - Who are we?
• 7 2. Major projects awarded since IPO
• 11 3. Updated Order Book
• 12 4. Offshore Engineering Sector
• 19 5. Mobile Natural Gas Sector
• 22 6. Salient Highlights
CONTENTS
2
Regional network of operations
Smart strategic alliance partnerships
A 25-year old engineering service provider in the oil and gas industry years 25
Leading developer and operator of mobile natural gas supply chain
Provider of “live-to-end” offshore engineering solutions
WHO ARE WE
4
IEV LISTED ON SGX-ST CATALIST
5
• Successfully listed on 25 October 2011 at an IPO price of S$0.30/share
• Trading at 63% premium over IPO price today.
OFFSHORE ENGINEERING SECTOR
7
Date Announced Segment Work Scope Value
(RM'mill) Expected
Completion
8 Nov 2011 JPIS Grouting services for 12 offshore structures in India, Indonesia and Myanmar
Not disclosed
2Q2012
19 Dec 2011 MFD EPCIC of wellhead platform, new pipeline and host tie-in to existing offshore production facilities.
262 4Q2012
27 Dec 2011 DS Turnkey decommissioning project for EPRD of a vent platform and associated pipelines
12 1H2012
SECURED NEW PROJECTS
EPCIC: Engineering, Procurement, Construction, Installation and Commissioning EPRD: Engineering, Preparation, Removal and Disposal
MOBILE NATURAL GAS
8
Date Announced
Description CNG (in mmbtu) Customer Duration
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.
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
GSA RENEWALS
Date Announced
Description
25 Nov 2011
CNG Vietnam currently supplies CNG to 18 customers in South Vietnam and is believed to be the primary CNG supplier in Vietnam
Listing of 20.5% owned associate company CNG Vietnam Joint Stock Company on HOSE
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
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
Jacket & Pipeline Installation Solutions (JPIS)
Structural Integrity Solutions (SIS)
Rigless Well Intervention Solutions (RWIS)
Inspection, Repair & Maintenance Solutions (IRMS)
Life Extension Solutions (LES)
Decommissioning Solutions (DS)
GREEN FIELD BROWN FIELD
NEW FACILITIES EXISTING FACILITIES AGEING ASSETS AGED / ABANDONED FIELD
INTEGRATED ENGINEERING SOLUTIONS
OES - GREEN FIELD OPPORTUNITIES UPDATE
14
AUSTRALIA
• 20 projects
CHINA
• 19 projects
THAILAND
• 17 projects
MYANMAR
• 5 projects
INDONESIA
• 47 projects
MALAYSIA
• 41 projects
VIETNAM
• 27 projects
INDIA
• 24 projects
200 GFB ACCOUNTS (2012 -2014) IN ASIA PACIFIC Source: Petrodata
MARGINAL FIELD DEVELOPMENT (MFD)
15
• IEV is 1st 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
MARGINAL FIELD DEVELOPMENT THROUGH PLATFORM REUSE
MARGINAL FIELD DEVELOPMENT
16
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
POTENTIAL MFD OPPORTUNITIES
17
INDONESIA
• 20 fields
MALAYSIA
• 20 fields
VIETNAM
• 12 fields
AUSTRALIA
• 26 fields
CHINA
• 28 fields
INDIA
• 18 fields
THAILAND
• 12 fields
126 MFD OPPORTUNITIES (2012 -2014) IN ASIA PACIFIC Source: Infield
MARGINAL FIELD DEVELOPMENT
18
LAUNCH OF MARGINAL FIELD DEVELOPMENT (MFD) BUSINESS DIVISION
Decommissioning
Engineering & Refurbishment / Modification
Load-Out, Transportation & Installation
Hook-Up & Commissioning
Transportation & Installation
Platform Refurbishment
Feasibility Study
Platform Decom
Hook-Up & Commissioning Hose Tie-In
Feasibility Study, FEED & Detail Design
Procurement of Process Equipment
Permitting
MNG – INDUSTRY UPDATES
20
• 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, 2012
ENERGY PLANS AND STRATEGIES
21
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
SALIENT HIGHLIGHTS
22
We operate in a vibrant industry
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
We are an innovative and dynamic company
(culture)