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Subsea Partner Of Choice

Subsea Partner Of Choice. Subsea 7 Inc. Earnings Presentation Quarter Ended 30 September 2007. Subsea Partner Of Choice. Quarter Highlights. High levels of activity and asset utilisation Good operational performance particularly in North Sea, Africa and Asia Pacific

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Subsea Partner Of Choice

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  1. Subsea Partner Of Choice Subsea 7 Inc.Earnings PresentationQuarter Ended30 September 2007

  2. Subsea Partner Of Choice Quarter Highlights • High levels of activity and asset utilisation • Good operational performance particularly in North Sea, Africa and Asia Pacific • Seven Oceans commenced operations • Good financial performance in the quarter

  3. Subsea Partner Of Choice Operational Performance by Region North Sea • High level of activity with a number of projects completing in the quarter • Very good operational performance ensuring client production schedules were met • Pipelay operations on Venture GKA, Talisman Rev and ConocoPhillips Kelvin projects successfully completed • Oseberg Delta, Ormen Lange Phase 2 and ConocoPhillips Eldfisk projects also completed

  4. Subsea Partner Of Choice Operational Performance by Region Africa • High level of activity with offshore phases of Saxi Batuque and Agbami projects commencing on schedule • Petro SA project completed with discussions on variation orders on-going • Quarter 3, 2006 comparative results reflected the positive financial close out on the Lobito Tomboco project

  5. Subsea Partner Of Choice Operational Performance by Region Brazil • Offshore activity was completed on the first phase of the PDEG project recording a small loss in the quarter • Pipeline welding progressing well at Brazilian spoolbase for Petrobras Hybrid Steel project • Roncador continues as a break even project going forward

  6. Subsea Partner Of Choice Operational Performance by Region Gulf of Mexico • Pipeline welding for Chevron Blind Faith project completed at UK spoolbase and reeled onto Seven Oceans • Light construction support for theBP Thunderhorse continued during the quarter

  7. Subsea Partner Of Choice Operational Performance by Region Asia Pacific • TUI development project completed in the quarter • Main offshore scope of Murphy Kikeh project completed in the quarter with remaining commissioning work scheduled for completion in the fourth quarter 2007 • BHP Stybarrow project and work in support of Woodside Frame Agreement on-going

  8. Subsea Partner Of Choice Backlog at Q3 2007 & Q3 2006

  9. Subsea Partner Of Choice Backlog at 30 September 2007 by Year of Execution

  10. Subsea Partner Of Choice Financial Highlights

  11. Subsea Partner Of Choice Cash Flows

  12. Subsea Partner Of Choice Balance Sheet

  13. Subsea Partner Of Choice Shareholders’ Equity

  14. Subsea Partner Of Choice Adjusted EBITDA

  15. Subsea Partner Of Choice Summary • High levels of activity in the quarter • Good operational performance particularly in North Sea, Africa and Asia Pacific • Awarded contract valued at an estimated USD 390 million by Petrobras. Backlog now totals USD 4.2 billion • Good financial performance in the quarter

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