Seven Borealis fieldtrip

July 6, 2012

Simon Crowe

2 Page 8-Jul-12

Seven Borealis is part of our fleet enhancement programme

• Investment focused on core assets, with high technical specifications

• Focused on achieving the optimal deployment of the optimal fleet

• Over 40 vessels - continue to enhance our fleet to drive profitable growth

*Oleg Strashnov delivered to the SHL JV

Divest / Release Life-of-Field SURF Conventional

JVs

3 Page 8-Jul-12

BARRIER SCALE

Access to Capital Low or High

Fixed Assets Low

Management Systems Low

Technology Medium

Market Positioning High

Competence & Track Record High

Knowhow - People High

The barriers today are more on the softer assets than ever before in our industry

Competitive advantage is multi-faceted

4 Page 8-Jul-12

Sapura Crest

Allseas

Global EPIC players

Joint Venture or

niche positions

Small threats –

niche positions

Local content and

low cost

Market positioning

Subsea 7 Technip

(with Global) Saipem

EMAS-AMC McDermott Heerema

Ocean Install

er

Mer

maid Fugro

Ocean eering

Trico Helix GE DOF COOEC Swiber

Local Players

5 Page 8-Jul-12

Competence and track record lead to partnership

The ability to forge and sustain effective strategic partnerships with our global client base remains the backbone of our business

6 Page 8-Jul-12

A global leader

7 Page 8-Jul-12

We are focused on the sweet spot

Market

Competitors

Customer needs

Our Capabilities

Find the Sweet spot “Differentiation”

8 Page 8-Jul-12

World energy consumption by source

Sources: International Energy Outlook 2011, September 2011, US Energy Information Administration

39% 33%

29%

21%

22%

23%

25%

29%

27%

6%

5%

7%

9%

11%

14%

0

100

200

300

400

500

600

700

800

900

1990 1995 2000 2005 2010 2015 2020 2025 2030 2035

Qu

ad

rillio

n B

tu

Renewables

Nuclear

Coal

Natural gas

Oil

9 Page 8-Jul-12

Global demand - going ever deeper

10 Page 8-Jul-12

Market scale

• A galaxy of industry sectors

• Often unconnected

• Different market dynamics

• Many different technologies

• Opportunities everywhere

$600Bn

$20-30Bn

$5-6Bn

E&P SURF Subsea 7

Management order of magnitude estimates Not drawn to scale

11 Page 8-Jul-12

Subsea 7’s focus market growth (excluding renewables)

Index (

real)

40

60

80

100

120

140

160

180

200

2011 2012F 2013F 2014F 2015F 2016F 2017F

12 Page 8-Jul-12

Today’s industry challenges … are Subsea 7’s opportunities

Large engineering & project

management capabilities

Proven expertise and

execution track record

Cultural diversification and

tailored local content Local content requirements

Shortage of resources in a growing

global market

Deeper waters and more challenging

environments

Growing size and complexity

of large EPIC contracts

Risk management and reliability

paramount

Processes and knowledge

management

Fleet size & flexibility

Effective Management of

worldwide resources

10.01.11 13 Page

seabed-to-surface

www.subsea7.com

The Seven Borealis

A Star is Born

6th July 2012

Tom Welsh

Project Director

2 Page 8-Jul-12 2 Page 8-Jul-12

Agenda

Our changing fleet

Story of the Seven Borealis

From China to the Netherlands via Singapore

A flagship vessel

3 Page 8-Jul-12

Seven Borealis is part of our fleet enhancement programme

• Investment focused on core assets, with high technical specifications

• Focused on achieving the optimal deployment of the optimal fleet

• Over 40 vessels - continue to enhance our fleet to drive profitable growth

*Oleg Strashnov delivered to the SHL JV

Divest / Release Life-of-Field SURF Conventional

JVs

4 Page 8-Jul-12

Subsea 7 Fleet – Seven Borealis, a global enabler

20%

9 vessels

23%

10 vessels

14%

6 vessels

23%

10 vessels

18%

8 vessels

2%

1 vessel

Construction/Vertical Flexlay

Dive Support

Other

Construction/Horizontal Flexlay

Rigid Pipelay/Heavy Lift

Life of Field/Light Construction

5 Page 8-Jul-12

Seven Borealis – A star is born

• Subsea 7’s flagship strategic enabler

• A deepwater pipelay, heavy-lift vessel

• Joins fleet H2 2012

• 1st project – Angola CLOV development

6 Page 8-Jul-12

The Seven Borealis provides “unprecedented flexibility and capability which, together with our engineering and management expertise will enable us to meet our clients’ strategic needs, particularly in deepwater and harsh environment acreage.”

Jean Cahuzac

Chief Executive, Subsea 7

16th December 2009

7 Page 8-Jul-12

The story begins

• Nordic Heavy Lift with Sembawang shipyard announce new build – 28th May 2007

• Designed according to a SOC 5000 series – Ulstein Sea of Solutions

• Keel laid Nantong Yahua Shipbuilding, China

• Hull launched 19th October 2009

8 Page 8-Jul-12

Subsea 7 acquires Seven Borealis

• Subsea 7 announces acquisition of vessel 16th December 2009

• Redesigned - 5,000t heavy lift to be complemented by

– 937t J-Lay system

– 600t S-Lay system

• Funded entirely from the Company’s existing cash resources

9 Page 8-Jul-12

Seven Borealis a vessel for every subsea occasion

• Length 182m x breadth 46m

• 600t tension S-Lay for up to 46-inch pipe diameter

• 937t top tension J-Lay system for up to 24-inch pipe diameter

• 2,800t onboard pipe storage

• Mast crane: capacity main hoist 5,000t; 1,200t heave compensated aux hoist

• Accommodation for 399 persons

• 2 x work class 3,000m rated ROVs

10 Page 8-Jul-12

The Seven Borealis in Singapore

• Towed to Singapore

• Equipped and load tested with world’s largest offshore mast crane

• Crane installation was a four day operation

• Naming ceremony 7th January 2012

11 Page 8-Jul-12

Final installations – on to the Netherlands

• J-Lay system – installed in Vlissingen

– Max Tension: 937t

– Pipe Range: 4-inch min 24-inch max

• S-Lay system – installed in Schiedam

– Max Tension: 600t

– Tensioners: 3 x Huisman BV two track tensioners

– Pipe Range: 4.5 - 46 inches

12 Page 8-Jul-12

A flagship vessel

• CLEAN-DESIGN notation – commitment to minimise environmental impact

• Main Engines/Generators:

– 6 Rolls-Royce B32:40 V12A 720 rpm diesel engines each generating 5,760kW

• Thrusters for Propulsion and DP:

– 2 x azimuth thrusters

– Rolls-Royce UUC 455 FP, underwater demountable

– Power 5,500kW each

• Thrusters for DP:

– 4 x azimuth thrusters, vertically retractable

– Rolls-Royce UL 305 FP

– Power 3,200kW

• Service speed: 12 knots

13 Page 8-Jul-12

Seven Borealis – A global strategic enabler

• Global reach

– all deepwater areas

• Full range of pipelines

– Shallow to deepwater

– Pipe-in-pipe

• Heavy pile/manifold capabilities

• Add 500t flex-lay tower (optional)

• Available for conventional heavy lift

14 Page 8-Jul-12 10.01.11 14 Page

seabed-to-surface

www.subsea7.com