Investor Presentation December 2015 1 Company Profile - - PowerPoint PPT Presentation

PT Wintermar Offshore Marine Tbk

December 2015

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Investor Presentation

Company Profile

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Business Segments

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Industry Outlook

Low rate of realization of upstream expenditure in Indonesian Oil and Gas

Sumber : SKK Migas

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Investment Years Approved Oil and Gas Investment Actual Oil and Gas Investment Percentage 2013 23.5 19.32 82% 2014 25.6 18.7 73% 2015 20.5 ?? ?? %

Total Investment

(in US$ billion)

• 2014 - Elections and corruption scandals in SKK Migas affected

the approval rate of planned upstream projects

• 2015 - Approved investment commitments in 2015 are

US$22.2billion, compared to actual investment of $18.7billion in 2014

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Realisation of Exploration activities in 1H2015

Realization Target Projection for FY2015 Exploration wells 17% ( 26 wells) 157 wells 71 wells Seismic Surveys 26% (12 activities) 46 activities 11 activities Non seismic 2 activities 23 activities 11 activities Re-entry Exploration wells 7 wells 27 wells 9 wells Source: SKK Migas, Bisnis Indonesia

Cost cutting hits oil exploration hard

Sumber : SKK Migas

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Regulations favour domestic Vessel Owners

• Cabotage - Only Indonesian flagged vessels can

carry goods and passengers from point to point within Indonesian waters.

• PM 10/2014 - Extension of cabotage deadline for

certain vessels.

• Presidential Decree No. 39 Year 2014 - Supporting

national companies by restricting the activities of the company especially in the service of foreign oil and gas activities

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Source: U.S. Energy Information Administration, Petroleum Supply Monthly

US Oil Production growth in 2014 was the largest in more than 100 years

Jump in US oil production and OPEC’s decision to maintain oil production has contributed to global oversupply and falling oil prices

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US Rig count is declining in response to sharply lower

• il prices…

… which may trigger a recovery in oil prices in the coming years

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Change in global sentiment in 3rd Quarter 2015 …Recovery delayed ?

Global demand and supply equilibrium delayed

Oil still accounts for 36% of the country’s primary energy supply

Increasing oil import dependency will put a growing strain on the government budget

10 Cars, trucks and other vehicles: 1.2 million p.a. New motorcycles: 8 million p.a.

Development projects with proven reserves are likely to continue

Sumber : SKK Migas

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With the current oil price fluctuations, exploration has been postponed but is expected to continue when oil prices find a new equilibrium

Masela Field

Tangguh

IDD Djangkrik

Creating a Sturdy Business Platform with Young and Diversified Fleet

• Aim to sell low value fleet over

next few years

• 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 solution to

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

• To differentiate from other

players by catering to very demanding top tier oil and gas companies /// %// ),/(/ 2*,, ),/(/ 2*,2 ),/(/ 2*,) ),/(/ 2*,6 "78 2*,9

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Composition of high value vessels in fleet mix

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By end 2015, 68% of the fleet will comprise mid to high tier vessels

Challenges and Opportunities in 2015

• Sharply lower oil prices has led to cuts in capex and exploration by
• il companies
• Pressure from oil and gas companies to reduce price
• Most exploration work has been postponed, production continues

but with margin squeeze

• Look to overseas markets for utilization but at lower margins–

Myanmar, Vietnam, Brunei, Malaysia

• Regulatory uncertainty ahead of revision in Oil and gas law
• Concessions up for extension create uncertainty for oil majors

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Looking ahead at 2016

• Waiting for government decision on concession

extensions for large development projects

• Significantly

lower costs

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services will support oil exploration at lower oil prices

• Pick up in Indonesian offshore activity expected

in late 2016 or 2017, slippage of production targets to 2019-2020

• Expect recovery in activity with when oil prices

show more stability

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Geographical Opportunities

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5 Years Review

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5 Years Review & CAGR

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Profitability - Segment

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Review of Ytd Sep-2015

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Attracting Prominent Oil Companies through Excellent Safety and Security Track Record

Disclaimer

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