Plano negocios inglês_final_apresentação

Execution Plan2011-2015

JULY 2011

This document contains statements and information about the Company that reflect the current views and/or expectations of the

Company and its management with regard to its business plans. These include all statements containing forecasts and projections

or that indicate or imply future results, performance or achievements, which may include such words as "believe", "predict",

"expect", "contemplate", "will probably result", or any other words or expressions of similar meaning. Such statements are subject

to a series of risks, uncertainties and assumptions. Readers are warned that several important factors may lead actual results to

significantly diverge from the plans, targets, expectations, estimates and intentions expressed herein. Under no circumstances

shall the Company or its directors, officers, representatives or employees be liable to any third parties (including investors) should

they make decisions, investments or business acts based on information and statements presented herein, nor shall the Company

be liable for any indirect damages, loss of profit, or similar consequences thereof. The Company does not intend to provide

shareholders with any revised versions of the statements or analysis of differences between the statements and actual results.

Investors should thoroughly analyze the Reference Form of OSX, available on the Company´s website, including the risk factors

identified therein. This presentation does not contain all the necessary information for a complete investment assessment on the

Company. Investors shall produce their own assessments, including the associated risks, before making an investment decision.

DISCLAIMER

1

AGENDA

Introduction

Product Portfolio

Shipbuilding Unit (UCN)

Order book

Development plan

Next Milestones

2

Introduction

3

OSX - Profile

Integrated supplier of equipment and services for the exploration and production of oil and gas.

Publicly held Company, listed on the Novo Mercado, BM&FBovespa´s highest standard of corporate governance, with R$ 2.4 billion raised at the IPO in March 2010.

Enjoys a very favorable market scenario given strong expansion of the oil and gas industry in Brazil, products and services demanded by OGX and local content rule implemented by ANP.

Organizational Structure

Acquire and

Charter

Build Operate

Tripulate and

Maintain

Exploration and Production Equipment (E&P)

Offshore oil and gas industry (O&G)

4

OSX – History

OSX´s Creation

• Acquisition of FPSO OSX-1

3T09 4T09

2T10

• Beginning of the licensing process at UCN Açu

• OSX-1 Financing

3T10

• Acquisiton of 2 VLCCs to be converted into FPSOs OSX-4 and OSX-5

• Beginning of GDR Level I Program

• Hiring of Credit Suisse as Market Maker

4T10

1T11

• Issuance of the Preliminary License for UCN Açu

• LOI with Techint, WHPs 1 and 2

2T11

• OGX order for 3 new FPSOs

• FPSO OSX-2 contract with SBM

• Issuance of the Installation License for UCN Açu

• UCN Açu Financing - FMM

1T10

• IPO: R$ 2.4 billion

• Strategic Cooperation Agreement with OGX

• Technical Cooperation Agreement with Hyundai

• OSX-1 Leasing Contract

3T11

• FPSO OSX-3 contract with Modec

5

OSX - Pillars

Strong Demand from OGX

Attractive Market Conditions in Brazil

Local Content Requirement

Strategic Partnership with Hyundai Heavy

Industries

Training (Naval Technology Institute -

ITN)

Incentivized and Experienced

Management Team

• 48 units of offshore E&P equipment = US$ 30 billion• Upside potential with expansion of OGX´s exploratory campaign

• Expected increase of oil and gas resources to 100 billion boe• Announced investments of US$ 140 billion

• Approximately 70% of local content required in equipment and services for the offshore O&G industry

• Key for Brazil´s job creation and economic development

• World shipbuilding leader• State-of-the-art technology and transfer of know-how• More than 38 years of experience

• Partnerships with technical schools and universities• Absorption of Korean technology• Qualification of 7,800 people by the end of 2013• Contract signed with Firjan in July 2011

• More than 30 years experience, on average, in the E&P sector • US$ 30 bn in projects and more than 50,000 people under management

6

Product Portfolio

7

Portfolio

FPSO

• Floating Production Storage and Offloading platform

• Hull: conversion of oil tanker or new-build

TLWP

• Tension-Leg Wellhead Platform

• Suited for deep water

WHP

• Wellhead Platform or fixed drilling and production platform

• Suited for shallow-water

TANKERS

• Navigation transportation unit

• Demand for long course navigation units, cabotage, relievers and production platforms

DRILLSHIPS

• Drilling unit for exploration

• Heavily demanded in ultra-deep water

8

FPSO Construction

Floating, Production, Storage and Offloading platforms

Floating unit used by the industry to produce, store and transfer oil

Construction

Based on a new hull or on the conversion of an existing oil carrier

Construction Phases

1) Conversion

Definition: Preparation and overhaul of a VLCC to receive the modules for processing oil and gas.

2) Integration

Definition: Assembly and commissioning of a set of modules aboard the converted hull.

3) FPSO ready to process oil

2

3

2

3

1

9

WHP Construction

Wellhead Platform

Fixed platform anchored to the seabed, appropriate for water depths under 300m.

Construction Phases

1) Steel tubes gathered in a structure forming the face of the jackets.

2) By joining the faces, the jacket is built. In parallel the topside +

drilling package is built.

3) After the jacket is built and ready, it is shifted to a barge, known as the

load-out process, so that the jacket may be transported to the

installation place.

4) The installation barge has a tilting system that launches the jacket into the sea and with a naval crane it is placed in the correct vertical position.

5) The Topside + Drilling Package arrives at the installation place

on a barge. There are two installation options, lifting and float-over.

6) With the topside + drilling package on the jacket, the WHP is fully

built and the tests of commissioning begins. This step consists the end of the installation and equipment on board.

1

1

2

4

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3

4

10

Shipbuilding Unit (UCN)

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UCN – Licensing Schedule

Oct-10Jan-11

Jun-11Jul-11

EIA/RIMA Presentation

Public Meetings

Preliminary License (LP) Issuance

Installation License (LI) Issuance

Beginning of Construction

Fev-11

12

UCN – CONSTRUCTION: CAPEX

Capex Distribution / Year:

Capex Distribution by Activity (million):

OSX LLX

Dredging and Engineering US$ 212 US$ 90

Break Water US$ 135 US$ 129

Quay US$ 262 -

Buildings US$ 339 -

Dry Dock US$ 133 -

Roads and Paving US$ 146 -

Equipment and Others US$ 487 -

Total: US$ 1,933 US$ 1,714 US$ 219

Merchant Marine Fund

≈ (80% of the total)

Total CapexUS$ 1.7 billion

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UCN Financing: Merchant Marine Fund

Financing approved by the board of directors of

the merchant marine fund

Credit facility may reach R$ 2.7 billion

Total tenor range from 18 to 20 years with a

grace period of up to 3 years and interest rates

that vary in between US$ + 2% to US$ 4% per year

Lending Agents: BNDES, Caixa Econômica

Federal, Banco do Brasil, BNB and Banco da

Amazônia

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UCN – Construction: Schedule of the packages

PackagesReceipt of Proposals

Contracting Mobilization

Vegetation Supression March-11 2Q11Installation License

Issuance

Ground preparation May-11 3Q11 3Q11

North Quay and WHP area June-11 3Q11 4Q11

Drydock June-11 3Q11 4Q11

South Quay and Respective Retro Area June-11 3Q11 4Q11

Industrial Buildings April-11 3Q11 4Q11

Utilities and Infrastructure May-11 3Q11 3Q11

Administrative Buildings (LEED) July-11 1Q12 1Q12

Administrative Buildings (Non LEED) Sepetember-11 4Q11 1Q12

Electromechanic Assembling August-11 1Q12 2Q12

Support December-10 2Q11 2Q11

Contractor houses April-11 3Q11 3Q11

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UCN – Construction: Highlights

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UCN – Occupation of slots by FPSOs

Slot Delivery Vessel Arrival Delivery by the UCN

Slot 1: 1Q13 OSX-4: 2Q13 OSX-4: 2Q14

Slot 2: 2Q13 OSX-5: 3Q13 OSX-5: 4Q14

Slot 3: 2Q13 OSX-6: 3Q13 OSX-6: 4Q14

Slot 4: 3Q13 OSX-7: 4Q13 OSX-7: 4Q14

Slot 5: 4Q13 OSX-8: 4Q13 OSX-8: 1Q15

Slot 6: 1Q14 OSX-9: 2Q14 OSX-9: 3Q15

Slot 1

Slot 2

Slot 4

Slot 3

Slot 5

Slot 6

*

*

*

*

* Subject to new orders from OGX

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UCN – Occupation of slots by WHPS

Slot Delivery Beginning of Assembling Delivery by the UCN

Area 1: 4Q12 4Q12 WHP-3: 3Q13

Area 1: 4Q12 4Q12 WHP-4: 4Q13

Area 1: 4Q12 4Q12 WHP-5: 4Q13

Area 1: 4Q12 4Q12 WHP-6: 4Q13

Area 2: 1Q13 1Q13 WHP-7: 1Q14

Area 2: 1Q13 1Q13 WHP-8: 2Q14

Area 2: 1Q13 1Q13 WHP-9: 3Q14

Area 1

Area 2

* Subject to new orders from OGX

*

*

*

*

*

*

*

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Order Book

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Firm order book – US$ 4.8 billion

Equipment Production CapacityEstimated CAPEX

(US$ MM)Delivery*

FPSO OSX-1 80K Bopd 610 3Q11

FPSO OSX-2 100K Bopd 775 2Q13

FPSO OSX-3 100K Bopd 800 3Q13

FPSO OSX-4 100K Bopd 850 - 900 2Q14

FPSO OSX-5 100K Bopd 850 - 900 4Q14

WHP-1 30 wells 400 - 450 1Q13

WHP-2 30 wells 400 - 450 2Q13

Total 4,685 – 4,885

• Delivery by the UCN (ex installation)

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Firm order book – Status

Equipment Status

FPSO OSX-1Final customization phase at Singapore. Sail Away Ceremony, August 13th

FPSO OSX-2 Contract signed with SBM Offshore. Delivery by the shipyard in 2Q13

FPSO OSX-3 Contract signed with Modec. Delivery by the shipyard in 3Q13

FPSO OSX-4and

FPSO OSX-5Vessels acquired. First FPSOs to be integrated at the UCN

WHP-1and

WHP-2

Contract signed with Techint. Equipment to be constructed at the site in Pontal do Paraná

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Development Plan

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Project Accelerators

1. Equipment Standardization

Reduce delivery timetable through long-term agreements with suppliers Standardize 70% of main equipment

2

3

1

Other Systems

Water harvesting

Compressed air

Fire Fighting System

Tubing and Accessories

Oil processing

Treatment of produced water

1

2

3

Key Systems

Water injection

Cargo handling

Gas compression

Energy generator

Supervisory System

Anchoring System

Offloading System

23

Project Accelerators

2. OSX Flex Engineering

Process oils of different characteristics (different API degree, gas/oil ratio, water/oil ratio)

Flex engineering used from FPSO OSX-2 onwards

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Project Accelerators

3. WHP´s Standardization

Optimization of assembly and construction

Designed to operate in a range of water depths

4. Sister Vessels

Reduction in project timeframe and conversion costs

Accelerate the learning curve both in operation and

maintenance

FPSOs OSX-4 and OSX-5

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ITN – Naval Technology Institute

Mission

As a leading institution specialized in naval training in Brazil, provide OSX Brazil with personnel, technology and innovative solutions for its products and processes in the areas of shipbuilding and offshore operations

Main Objectives

Training of workers (superior, technical and basic levels)

Development of innovative engineering projects

Mobilization of suppliers (new equipment and/or materials)

Absorption of technology (agreement with Hyundai)

Partnerships with reference institutions (companies and universities)

26

ITN – Naval Technology Institute

Phase I - Objectives

Qualification of up to 3,100 technical personnel in 23 functions (welders, assemblers,

electricians and mechanics, among others) through the end of 2012

Utilization of facilities and instructors from SENAI

Scholarships that provide financial assistance, food and transportation

Beginning of classes scheduled for 4Q11

Estimated budget: R$ 12.7 million

Phase I – Qualification and Training

Contract OSX & FIRJAN

- Qualification of personnel for the UCN

Technology Cooperation Agreement OSX & HYUNDAI

- Training program designed for technical and supervisory roles

SENAI Campos SENAI MacaéSENAI São João da Barra

27

ITN – Naval Technology Institute

Phase I – Recruiting Areas

CityAprox.

distanceWork force

Population

São João da Barra 20 KM 6,000 33,000

Campos 40 KM 92,000 460,000

Radius Up to 50 KM 98,000 493,000

Quissamã 75 KM 3,000 20,000

São Francisco 95 KM 3,000 41,000

São Fidelis 100 KM 5,000 37,000

Macaé 130 KM 113,000 206,000

Radius 2 Up to 150 KM 222,000 797,000

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ITN – Naval Technology Institute

Phase II – On the Job training

Proposed activities:

Training, technical assistance and operation supervision with Hyundai:

- 40 specialists from Hyundai in Brazil for 5 years

- 50 employees from the UCN at Hyundai shipyard in Ulsan, Korea

(4 groups: Aug. 2012 through April 2014)

Implementation of the ITN at UCN Açu

- Approximate area of 1,800 m2

- Offices, laboratories, classrooms, auditorium, library

Implementation of systems that simulate operations of offshore units

Salas de aulaBibliotecas

Sala de simulação

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ITN – Naval Technology Institute

Phase III – Strengthening of the Supply Chain

Proposed action:

Identify, together with the procurement department, potential suppliers to develop new

material, equipment and innovative work methods that are of interest of OSX.

Phase IV – Technology Innovation

Proposed action:

Establish partnerships with academic institutions, both Brazilian and international, in

order to develop and assimilate technology

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Certifications

Mandatory

Strategic

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Next Milestones

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Next milestones

Arrival of FPSO OSX-1 in Brazil and first oil

Conclusion of financing for FPSO OSX-2

Financing for FPSO OSX-3, WHP-1 and WHP-2

Beginning of Construction WHP-1 and WHP-2

Contract for engineering of FPSOs OSX-4 and OSX-5

OGX orders

Orders from other clients

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Investor Relations Contacts

[email protected]

+55 21 2555 6914