Brazil's OSX Group Q2 2012 Financial Report

Press Release
Sunday, July 29, 2012

OSX Shipbuilding reports order book for construction of 21 vessels of various kinds, consolidated position in other offshore enterprises

EBITDA of R$36,5 million in 1H12 and R$2,7 billion financing are highlights for the second quarter of 2012.

OSX, an EBX Group Company which provides solutions for the offshore oil industry by means of integrated operations in shipbuilding, leasing of exploration and production (E&P) units, and operation and maintenance (O&M), reports first semester 2012 profit for the period is R$ 5,4 million.

Currently OSX Shipbuilding is managing an order book of 21 units destined for the production of oil and gas in Brazil: 5 FPSOs and 4WHPs for client OGX, 1 PLSV for client Sapura and 11 medium-range tankers for client Kingfish. During the quarter, OSX maintained its client base expansion and diversification strategy.

During this quarter, the company moved forward in OSX’s main lines of action: construction of UCN Açu; construction of OSX’s and its clients’ offshore fleet; beginning of the Professional Training Program in Shipbuilding carried out jointly by ITN and SENAI-FIRJAN; operation of OSX-1; receipt of ISO 9001, ISO14001 and OHSAS 18001; certifications for the management system of OSX Serviços; contract with BNDES and CEF for the R$ 2.7 billion financing from FMM; and initiatives to expand the company's client base.

OSX also welcome the recent announcement from Petrobras stating that it has approved OSX for the integration of FPSOs which will be used for the production of Brazilian pre-salt oil.



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