5.3.32Information on non-controlling interests
The Company has several jointly owned subsidiaries:
|
Entity name |
Partners |
% of ownership |
Country registration |
2016 main reporting segment |
Project name |
|---|---|---|---|---|---|
|
Aseng Production Company Ltd |
GE Petrol |
60.00 |
Cayman island |
Lease & operate |
FPSO Aseng |
|
Gepsing Ltd |
GE Petrol |
60.00 |
Cayman island |
Lease & operate |
FPSO Aseng |
|
Gepsing Ltd - Equatorial Guinea Branch |
GE Petrol |
60.00 |
Equatorial Guinea |
Lease & operate |
FPSO Aseng |
|
Brazilian Deepwater Floating Terminals Ltd |
Malaysia International Shipping Corporation Behard |
51.00 |
Bermuda |
Lease & operate |
FPSO Espirito Santo |
|
Brazilian Deepwater Production Ltd |
Malaysia International Shipping Corporation Behard |
51.00 |
Bermuda |
Lease & operate |
FPSO Espirito Santo |
|
Brazilian Deepwater Production Contractors Ltd |
Malaysia International Shipping Corporation Behard |
51.00 |
Bermuda |
Lease & operate |
FPSO Espirito Santo |
|
Operações Marítimas em Mar Profundo Brasileiro Ltda |
owned by Brazilian Deepwater Production Contractors (see information above) |
51.00 |
Brazil |
Lease & operate |
FPSO Espirito Santo |
|
SBM Stones S.à r.l. |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha |
55.00 |
Luxembourg |
Turnkey |
FPSO Turritella |
|
SBM Turritella LLC |
owned by SBM Stones S.a r.l. (see information above) |
55.00 |
The United States of America |
Turnkey |
FPSO Turritella |
|
SBM Stones Holding Operations B.V. |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha |
55.00 |
The Netherlands |
Lease & operate |
FPSO Turritella |
|
SBM Stones Operations LLC |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha |
55.00 |
The Netherlands |
Lease & operate |
FPSO Turritella |
|
Alfa Lula Alto S.à.r.l. |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha ; Queiroz Galvao Oleo e Gas, S.A. |
56.00 |
Luxembourg |
Turnkey |
FPSO Cidade de Marica |
|
Alfa Lula Alto Holding Ltd |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha ; Queiroz Galvao Oleo e Gas, S.A. |
56.00 |
Bermuda |
Lease & operate |
FPSO Cidade de Marica |
|
Alfa Lula Alto Operações Marítimas Ltda |
owned by Alfa Lula Alto Holding Ltd. (see information above) |
56.00 |
Brazil |
Lease & operate |
FPSO Cidade de Marica |
|
Beta Lula Central S.à.r.l. |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha ; Queiroz Galvao Oleo e Gas, S.A. |
56.00 |
Luxembourg |
Turnkey |
FPSO Cidade de Saquarema |
|
Beta Lula Central Holding Ltd |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha ; Queiroz Galvao Oleo e Gas, S.A. |
56.00 |
Bermuda |
Lease & operate |
FPSO Cidade de Saquarema |
|
Beta Lula Central Operações Marítimas Ltda |
Owned by Betal Lula Central Holding Ltd. (see information above) |
56.00 |
Brazil |
Lease & operate |
FPSO Cidade de Saquarema |
|
Tupi Nordeste S.à.r.l. |
Nippon Yusen Kabushiki Kaisha; Itochu Corporation; Queiroz Galvao Oleo e Gas, S.A. |
50.50 |
Luxembourg |
Lease & operate |
FPSO Cidade de Paraty |
|
Tupi Nordeste Operações Marítimas Ltda |
Owned by Tupi Nordeste Holding (see information below) |
50.50 |
Brazil |
Lease & operate |
FPSO Cidade de Paraty |
|
Tupi Nordeste Holding Ltd |
Nippon Yusen Kabushiki Kaisha; Itochu Corporation; Queiroz Galvao Oleo e Gas, S.A. |
50.50 |
Bermuda |
Lease & operate |
FPSO Cidade de Paraty |
|
Guara Norte S.à.r.l. |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha ; Queiroz Galvao Oleo e Gas, S.A. |
62.25 |
Luxembourg |
Lease & operate |
FPSO Cidade de Ilhabela |
|
Guara Norte Holding Ltd |
Mitsubishi Corporation; Nippon Yusen Kabushiki Kaisha ; Queiroz Galvao Oleo e Gas, S.A. |
62.25 |
Bermuda |
Lease & operate |
FPSO Cidade de Ilhabela |
|
Guara Norte Operações Marítimas Ltda |
Owned by Guara Norte Holding Ltd. (see information above) |
62.25 |
Brazil |
Lease & operate |
FPSO Cidade de Ilhabela |
|
SBM Capixaba Operações Marítimas Ltda |
Owned by FPSO Capixaba Venture S.A. (see information below) |
80.00 |
Brazil |
Lease & operate |
FPSO Capixaba |
|
SBM Espirito Do Mar Inc |
Queiroz Galvao Oleo e Gas, S.A. |
80.00 |
Switzerland |
Lease & operate |
FPSO Capixaba |
|
FPSO Capixaba Venture S.A. |
Queiroz Galvao Oleo e Gas, S.A. |
80.00 |
Switzerland |
Lease & operate |
FPSO Capixaba |
|
FPSO Brasil Venture SA |
MISC Berhad |
51.00 |
Switzerland |
Lease & operate |
FPSO Brazil |
|
SBM Operações Ltda |
MISC Berhad |
51.00 |
Brazil |
Lease & operate |
FPSO Brazil |
|
SBM Systems Inc. |
MISC Berhad |
51.00 |
Switzerland |
Lease & operate |
FPSO Brazil |
|
South East Shipping Co. Ltd |
Mitsubishi Corporation |
75.00 |
Bermuda |
Lease & operate |
Yetagun |
Included in the consolidated financial statements are the following items that represent the Company’s interest in the revenues, assets and loans of the partially owned subsidiaries.
Figures are presented at 100% before elimination of intercompany transactions.
Information on non-controlling interests (NCI) − 2016
|
Entity name |
Project name |
Place of business |
Total assets |
Non-current assets |
Cash |
Loans |
Non-current liabilities |
Current liabilities |
|---|---|---|---|---|---|---|---|---|
|
Aseng Production Company Ltd |
FPSO Aseng |
Equatorial Guinea |
328 |
215 |
10 |
180 |
148 |
40 |
|
Gepsing Ltd |
3 |
- |
3 |
- |
- |
13 |
||
|
Gepsing Ltd - Equatorial Guinea Branch |
34 |
- |
2 |
- |
- |
24 |
||
|
Brazilian Deepwater Floating Terminals Ltd |
FPSO Espirito Santo |
Brazil |
- |
- |
- |
- |
- |
0 |
|
Brazilian Deepwater Production Ltd |
368 |
321 |
21 |
- |
258 |
22 |
||
|
Brazilian Deepwater Production Contractors Ltd |
37 |
0 |
18 |
- |
- |
27 |
||
|
Operações Marítimas em Mar Profundo Brasileiro Ltda |
4 |
0 |
0 |
7 |
7 |
3 |
||
|
SBM Stones S.à r.l.1 |
FPSO Turritella |
The United States of America |
1,156 |
1,038 |
30 |
791 |
718 |
76 |
|
SBM Stones Holding Operations B.V. |
0 |
- |
- |
- |
- |
- |
||
|
SBM Stones Operations LLC |
13 |
- |
7 |
- |
- |
8 |
||
|
Alfa Lula Alto S.à.r.l. |
FPSO Cidade de Marica |
Brazil |
1,791 |
1,683 |
48 |
1,394 |
1,363 |
117 |
|
Alfa Lula Alto Holding Ltd |
5 |
0 |
4 |
- |
- |
9 |
||
|
Alfa Lula Alto Operações Marítimas Ltda |
8 |
1 |
0 |
0 |
0 |
14 |
||
|
Beta Lula Central S.à.r.l. |
FPSO Cidade de Saquarema |
Brazil |
1,741 |
1,668 |
16 |
1,426 |
1,372 |
90 |
|
Beta Lula Central Holding Ltd |
7 |
0 |
0 |
- |
- |
8 |
||
|
Beta Lula Central Operações Marítimas Ltda |
7 |
- |
2 |
- |
- |
6 |
||
|
Tupi Nordeste S.à.r.l. |
FPSO Cidade de Paraty |
Brazil |
1,259 |
1,164 |
38 |
714 |
645 |
108 |
|
Tupi Nordeste Operações Marítimas Ltda |
2 |
0 |
0 |
20 |
20 |
13 |
||
|
Tupi Nordeste Holding Ltd |
3 |
3 |
0 |
- |
- |
14 |
||
|
Guara Norte S.à.r.l. |
FPSO Cidade de Ilhabela |
Brazil |
1,595 |
1,465 |
75 |
1,005 |
904 |
129 |
|
Guara Norte Holding Ltd |
7 |
0 |
3 |
- |
- |
18 |
||
|
Guara Norte Operações Marítimas Ltda |
7 |
0 |
0 |
5 |
5 |
15 |
||
|
SBM Capixaba Operações Marítimas Ltda |
FPSO Capixaba |
Brazil |
5 |
0 |
0 |
23 |
23 |
11 |
|
SBM Espirito Do Mar Inc |
272 |
217 |
25 |
5 |
41 |
32 |
||
|
FPSO Capixaba Venture S.A. |
7 |
0 |
0 |
17 |
17 |
62 |
||
|
Non material NCI |
79 |
4 |
7 |
3 |
11 |
11 |
||
|
Total 100% |
8,738 |
7,781 |
310 |
5,590 |
5,532 |
871 |
- 1 consolidated figures including the entity SBM Turritella LLC which is owned at 100% by SBM Stones S.à r.l.
Information on non-controlling interests (NCI) − 2016
|
Entity name |
Project name |
Place of business |
Dividends to NCI |
Revenue |
|---|---|---|---|---|
|
Aseng Production Company Ltd |
FPSO Aseng |
Equatorial Guinea |
- |
24 |
|
Gepsing Ltd |
4 |
1 |
||
|
Gepsing Ltd - Equatorial Guinea Branch |
- |
49 |
||
|
Brazilian Deepwater Floating Terminals Ltd |
FPSO Espirito Santo |
Brazil |
- |
- |
|
Brazilian Deepwater Production Ltd |
15 |
118 |
||
|
Brazilian Deepwater Production Contractors Ltd |
- |
29 |
||
|
Operações Marítimas em Mar Profundo Brasileiro Ltda |
- |
13 |
||
|
SBM Stones S.à r.l.1 |
FPSO Turritella |
The United States of America |
- |
165 |
|
SBM Stones Holding Operations B.V. |
- |
- |
||
|
SBM Stones Operations LLC |
- |
35 |
||
|
Alfa Lula Alto S.à.r.l. |
FPSO Cidade de Marica |
Brazil |
- |
332 |
|
Alfa Lula Alto Holding Ltd |
- |
21 |
||
|
Alfa Lula Alto Operações Marítimas Ltda |
- |
19 |
||
|
Beta Lula Central S.à.r.l. |
FPSO Cidade de Saquarema |
Brazil |
- |
277 |
|
Beta Lula Central Holding Ltd |
- |
12 |
||
|
Beta Lula Central Operações Marítimas Ltda |
- |
11 |
||
|
Tupi Nordeste S.à.r.l. |
FPSO Cidade de Paraty |
Brazil |
- |
93 |
|
Tupi Nordeste Operações Maritimas Ltda |
- |
13 |
||
|
Tupi Nordeste Holding Ltd |
- |
28 |
||
|
Guara Norte S.à.r.l. |
FPSO Cidade de Ilhabela |
Brazil |
- |
148 |
|
Guara Norte Holding Ltd |
- |
29 |
||
|
Guara Norte Operações Marítimas Ltda |
- |
16 |
||
|
SBM Capixaba Operações Marítimas Ltda |
FPSO Capixaba |
Brazil |
- |
11 |
|
SBM Espirito Do Mar Inc |
- |
28 |
||
|
FPSO Capixaba Venture S.A. |
- |
45 |
||
|
Non material NCI |
1 |
(8) |
||
|
Total 100% |
20 |
1,509 |
- 1 consolidated figures including the entity SBM Turritella LLC which is owned at 100% by SBM Stones S.à r.l.
Information on non-controlling interests (NCI) − 2015
|
Entity name |
Project name |
Place of business |
Total assets |
Non-current assets |
Cash |
Loans |
Non-current liabilities |
Current liabilities |
|---|---|---|---|---|---|---|---|---|
|
Aseng Production Company Ltd |
FPSO Aseng |
Equatorial Guinea |
416 |
308 |
11 |
272 |
235 |
45 |
|
Gepsing Ltd |
14 |
- |
14 |
- |
- |
6 |
||
|
Gepsing Ltd - Equatorial Guinea Branch |
21 |
- |
1 |
- |
0 |
17 |
||
|
Brazilian Deepwater Floating Terminals Ltd |
FPSO Espirito Santo |
Brazil |
0 |
- |
- |
- |
- |
0 |
|
Brazilian Deepwater Production Ltd |
451 |
366 |
50 |
42 |
256 |
97 |
||
|
Brazilian Deepwater Production Contractors Ltd |
29 |
0 |
6 |
9 |
6 |
16 |
||
|
Operações Marítimas em Mar Profundo Brasileiro Ltda |
7 |
0 |
0 |
7 |
7 |
3 |
||
|
SBM Stones S.à r.l.1 |
FPSO Turritella |
The United States of America |
2,186 |
1,085 |
- |
685 |
377 |
1,499 |
|
SBM Stones Holding Operations B.V. |
- |
- |
- |
- |
- |
- |
||
|
Alfa Lula Alto S.à.r.l. |
FPSO Cidade de Marica |
Brazil |
1,827 |
- |
1 |
1,337 |
1,365 |
154 |
|
Alfa Lula Alto Holding Ltd |
0 |
0 |
0 |
- |
- |
0 |
||
|
Alfa Lula Alto Operações Marítimas Ltda |
1 |
- |
0 |
- |
- |
0 |
||
|
Beta Lula Central S.à.r.l. |
FPSO Cidade de Saquarema |
Brazil |
1,538 |
- |
2 |
1,178 |
1,184 |
19 |
|
Beta Lula Central Holding Ltd |
0 |
0 |
0 |
- |
- |
0 |
||
|
Beta Lula Central Operações Marítimas Ltda |
0 |
- |
0 |
- |
- |
0 |
||
|
Tupi Nordeste S.à.r.l. |
FPSO Cidade de Paraty |
Brazil |
1,297 |
1,203 |
41 |
801 |
748 |
103 |
|
Tupi Nordeste Operações Marítimas Ltda |
3 |
0 |
0 |
6 |
6 |
12 |
||
|
Tupi Nordeste Holding Ltd |
16 |
2 |
9 |
- |
- |
17 |
||
|
Guara Norte S.à.r.l. |
FPSO Cidade de Ilhabela |
Brazil |
1,609 |
1,501 |
56 |
1,103 |
1,013 |
122 |
|
Guara Norte Holding Ltd |
15 |
0 |
12 |
- |
- |
16 |
||
|
Guara Norte Operações Marítimas Ltda |
5 |
0 |
0 |
1 |
1 |
9 |
||
|
SBM Capixaba Operações Marítimas Ltda |
FPSO Capixaba |
Brazil |
4 |
0 |
0 |
11 |
11 |
4 |
|
SBM Espirito Do Mar Inc |
278 |
251 |
11 |
37 |
41 |
35 |
||
|
FPSO Capixaba Venture S.A. |
2 |
0 |
1 |
17 |
17 |
61 |
||
|
Non material NCI |
100 |
9 |
7 |
3 |
10 |
13 |
||
|
Total 100% |
9,821 |
4,726 |
222 |
5,509 |
5,276 |
2,249 |
- 1 consolidated figures including the entity SBM Turritella LLC which is owned at 100% by SBM Stones S.à r.l.
Information on non-controlling interests (NCI) − 2015
|
Entity name |
Project name |
Place of business |
Dividends to NCI |
Revenue |
|---|---|---|---|---|
|
Aseng Production Company Ltd |
FPSO Aseng |
Equatorial Guinea |
- |
32 |
|
Gepsing Ltd |
- |
2 |
||
|
Gepsing Ltd - Equatorial Guinea Branch |
- |
42 |
||
|
Brazilian Deepwater Floating Terminals Ltd |
FPSO Espirito Santo |
Brazil |
- |
- |
|
Brazilian Deepwater Production Ltd |
- |
129 |
||
|
Brazilian Deepwater Production Contractors Ltd |
- |
0 |
||
|
Operações Marítimas em Mar Profundo Brasileiro Ltda |
- |
14 |
||
|
SBM Stones S.à r.l.1 |
FPSO Turritella |
The United States of America |
- |
199 |
|
SBM Stones Holding Operations B.V. |
- |
- |
||
|
Alfa Lula Alto S.à.r.l. |
FPSO Cidade de Marica |
Brazil |
- |
369 |
|
Alfa Lula Alto Holding Ltd |
- |
- |
||
|
Alfa Lula Alto Operações Marítimas Ltda |
- |
- |
||
|
Beta Lula Central S.à.r.l. |
FPSO Cidade de Saquarema |
Brazil |
- |
360 |
|
Beta Lula Central Holding Ltd |
- |
- |
||
|
Beta Lula Central Operações Marítimas Ltda |
- |
- |
||
|
Tupi Nordeste S.à.r.l. |
FPSO Cidade de Paraty |
Brazil |
- |
121 |
|
Tupi Nordeste Operações Maritimas Ltda |
- |
17 |
||
|
Tupi Nordeste Holding Ltd |
- |
28 |
||
|
Guara Norte S.à.r.l. |
FPSO Cidade de Ilhabela |
Brazil |
- |
160 |
|
Guara Norte Holding Ltd |
- |
29 |
||
|
Guara Norte Operações Marítimas Ltda |
- |
16 |
||
|
SBM Capixaba Operações Marítimas Ltda |
FPSO Capixaba |
Brazil |
- |
11 |
|
SBM Espirito Do Mar Inc |
- |
68 |
||
|
FPSO Capixaba Venture S.A. |
- |
13 |
||
|
Non material NCI |
3 |
25 |
||
|
Total 100% |
3 |
1,635 |
- 1 consolidated figures including the entity SBM Turritella LLC which is owned at 100% by SBM Stones S.à r.l.
Reference is made to section 5.3.24 ‘Loans and Borrowings’ for a description of the bank interest-bearing loans and other borrowings per entity.
Included in the consolidated financial statements are the following items that represent the aggregate contribution of the partially owned subsidiaries to the Company consolidated financial statements:
Interest in non-controlling interest (summary)
|
2016 |
2015 |
||
|---|---|---|---|
|
Net result |
65 |
81 |
|
|
Accumulated amount of NCI |
996 |
970 |