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8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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1?=1* @mphymk hjvdybdjy+ ehk mji jmytqmk

lmpqeit`yhej+mjidbpkexbdjy kdvdkmqd

idvdkepdi

feq

dm`c

ef

ycdd

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6Idfhjdimpdqbhyadhjlhtdihjmyhbdkx

bmjjdqtjidqmkkjd|mfdyxqd}thqdbdjyye

mkke|epdqmyeqyeathkimjhjvdjyeqxefpdqbhy

yefkdshakxmjidffh`hdjykxidvdkepehkmjijmytqmk

lmqdetq`d*

=?

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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1*9LkeamkP`djmqheIdvdkepbdjy

Ycdqd hejkxejdfeqd`myfeqeycdqqdlhej

efycd|eqkimjihyhamdiej]tdybey

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hj

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yeLtkf ef Bdsh`e+|hycpqegd`y yqm`ndimy

mjhjihvhitmk kdvdkyefeqbevdqmkkfeqd`my*

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lqetphjl`etjyqhd hjye fhvdbmgeqeffceqd

ehk mji lm pqeit`yhej qdlhej+ mqd

`ebpedief ldelqmpch`mkkx`ked`etjyqhd

id`qhadi hjMppdjihs3* Phbhkmq pdjihjl

adj`cbmqn m yced tdi ye idvdkep ycd

T*P*effceqd pdjihjl|dqdidvdkepdi feq

ycd qdlhej hj }tdyhej* Ppdjihjl feq

pqegd`yhjeycdq`etjyqhdhhj`kthvdefycd

mbd`ebpejdjym pdjihjl feq ycdT*P*

mjihdspd`ydiyefekke|hbhkmqhjvdybdjy

pmyydqj*Feq

ycd

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|eqki+

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ejd

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`eqqdpejihjl ye ycd `tqqdjy bey khndkx

pmyc feq ycmy mqdm m btkyhpkd `md |dqd

adxeji ycd `epd ef ych qdpeqy* Hy cetki

ad jeydi ycmy tjidq ycd Ady _ey

Beqmyeqhtb@mdeycdqqdlhej|etkikhndkx

ddmid`khjdhjpdjihjlmhjvdybdjymji

mdy qdytqj ye ycdT*P* Ycd pdjihjl feq

ycdqdyef ycd|eqki|midkhjdmydi hjycd

mbd `mydleqhd m ycd pdjihjl feq ycd

TjhydiPymyd*

1*4Tj`dqymhjyxmjiMtbpyhejhjImym@ekkd`yhejmjiFeqd`myhjl

M|hycmjxbmqndyfeqd`my+ycdpqegd`yhej

pqevhidi cdqdhj mqd tagd`y ye `cmjld

m``eqihjl ye ycd ixjmbh` ef ycd effceqd

ehk mji jmytqmk lm hjityqx mji

bm`qed`ejebh` `ejihyhej* \chkd ]tdy

cm pqevhidi ycd hjvdybdjy etykeen

m``eqihjl ye m etji feqd`myhjl

bdyceiekelx ycmy cm addj |hidkx

m``dpydi ycqetlcety ycd hjityqx+ ycdqd

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tj`dqymhjyx( |cdj mdhjl kejlydqb

m`yhvhyxfeqhjihvhitmk `ebpmjhd*

==

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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0*P`djmqheQdtky

=1

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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Dvdj ycetlc ycd T*P* effceqd ehk mji

jmytqmk lm hjityqx epdqmyd hj m lkeamk

`ebpdyhyhvd djvhqejbdjy+ ycd T*P* h m

qdkmyhvdkx myyqm`yhvd `etjyqx feq ehk mji

jmytqmklm`ebpmjxhjvdybdjy*Ychhitd

ye hy pekhyh`mk ymahkhyx+ mivmj`di ehk mji

jmytqmklmtppkx`cmhjmji|dkkidvdkepdi

ehkmjilmhjfqmyqt`ytqd*

Ych d`yhej pqevhid ycd amh feq ycd

@tqqdjy pmyc @md+ Ady _eyBeqmyeqhtb

mji _qdBeqmyeqhtb @md ef ycd T*P*

effceqd ehk mji jmytqmk lm hjityqx hj

ydqb ef pdqbhyyhjl mji jtbadq ef |dkk

iqhkkdievdq ycd1?=? ye1?=4 yhbdpdqhei*

Ycd d`yhej `ebbdj`d |hyc m ceqy

evdqvhd| ef ycd hwd ef ycd T*P* hjityqx

qdkmyhvd ye ycd lkeamk bmqndy mji aqhdfkx

id`qhadbmgeq`ebpdyhjl qdlhej* Ych h

fekke|di ax m `cmqm`ydqhwmyhej ef ycd

`djmqhepqegd`yhej feqpdqbhy+iqhkkhjlqhl

m`yhvhyx+ |dkk iqhkkdi+ mji ycd jtbadq ef

pqegd`yidvdkepdi*

=0

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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0*=Evdqvhd|T*P*EffceqdEhkmjiJmytqmkLmHjityqxQdkmyhvdyeQdyefycd\eqki

YcdT*P*Ltkf ef Bdsh`e hejkxejdef ycd

bmjx mqdm ef ycd |eqki |cdqd ehk mji

jmytqmklm

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ymnd

pkm`d

effceqd*

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ef Bdsh`e epdqmyd lkeamkkx+ m `ejyhjtdi

ke|ie|j hj pdqbhy adhjl htdi hj ycd

T*P* `etki qdtky hj hjvdybdjy chfyhjl ye

eycdq qdlhej* Hj1?=?+ 1*=bhkkhejamqqdk

efehkpdqimx|dqdpqeit`dieffceqdhjycd

TjhydiPymyd

ycmy

m``etjydi

feq

=9

pdq`djy

ef lkeamk effceqd pqeit`yhej #Fhltqd 3(*

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1*9 pdq`djy ef lkeamk effceqd pqeit`yhej

feqycdmbdxdmq*

Fhltqd37Dyhbmydi1?=?LkeamkEffceqdEhk_qeit`yhejaxQdlhej#_dq`djy(

#YeymkLkeamkEffceqd_qeit`yhej2=4*9BhkkhejAAkpdqimx(

Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==

\hycetylqe|hjlhjvdybdjy+ycdT*P*

bmqndycmqdefeffceqdlkeamkehkmji

jmytqmklmpqeit`yhej`etkiid`qdmdfqeb

hymkqdmixidpqddikdvdkmhjvdybdjyhj

ycdT*P*fmkkqdkmyhvdyeeycdqqdlhej*Hj

1?==+ycdT*P*hpqegd`ydiyem``etjyfeq

ejkx6pdq`djy+eq)3*8ahkkhej+eflkeamk

TPLeB+ Mkmnm

=9$

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=9$

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=3$

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18$

PetycMbdqh`m

=6$

@mjmim&

Bdsh`e

8$

=9

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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effceqdehkmjilmhjvdybdjyvmktdimy

)=96ahkkhej#Fhltqd8(*

Fhltqd87_qegd`ydi1?==T*P*v*EycdqQdlhejEffceqdEhkmjiJmytqmkLm@mphymkHjvdybdjy

_qegd`yhej#Mkk\mydqIdpyc(#YeymkLkeamk@mphymkDspdjihytqd2)=94*

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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chfyqdetq`dm|mxfqebycdT*P*yeeycdq

qdlhej*FeqycdT*P*yehj`qdmdhycmqdef

lkeamk hjvdybdjy mji pqeit`yhej+ m ndx

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yepqdBeqmyeqhtbkdvdk*

Hj qd`djy xdmq+ctld jd| qdetq`d amhj

cmvd addj ih`evdqdi hj eycdq tppkx

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|hyc ycd Tjhydi Pymyd* Hj Aqmwhk+ ycd

jmyhejmk ehk `ebpmjx _dyqeaqm+ |ch`c h

mke m`yhvd hj ycd Ltkf ef Bdsh`e+ cm

ih`evdqdiydj

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ef `tah` fddy ef jmytqmk lm cmvd addj

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mjiMpcqeihyd#@xpqtM(

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`etjyqhd+ ycdeffceqdT*P*ehkmjijmytqmk

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ye `ebpdyd|hycety m amkmj`di qdltkmyeqx

qdlhbdmjiyhbdkxpdqbhyyhjlpqe`d*

=6

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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0*1Iqhkkhjl_dqbhyHtmj`dQmyd

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lm

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hj

ycd

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iqhkkhjl m`yhvhyx effceqd ef ycd Tjhydi

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`mjjey iqhkk ehk mji jmytqmk lm |dkk mji

yct `mjjey pqe`ddi |hyc bey ehk mji

jmytqmk lm idvdkepbdjy m`yhvhyhd* Ycd

Atqdmt ef E`dmj Djdqlx Bmjmldbdjy

#AEDB(m|dkkmycdAtqdmtefPmfdyxmji

Djvhqejbdjymk Djfeq`dbdjy #APDD( mqd

qdpejhakd feq pdqbhyyhjl effceqd iqhkkhjl

mjiidvdkepbdjy hj ycdTjhydiPymyd*Ycd

AEDB h pqhbmqhkx qdpejhakd feq ycd

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ef

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cmkke||mydqiqhkkhjlpdqbhyfdkkfmqadke|

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adke| chyeqh`mk kdvdk #Fhltqd =?(* Dvdj

ycetlc ycd djief ycdiqhkkhjlbeqmyeqhtb

|mhjE`yeadqef1?=?+iqhkkhjlpdqbhyqmyd

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beqmyeqhtb kdvdk* Mj mvdqmld ef ?*=8?

iddp|mydq pdqbhy cmvd addj htdi pdq

imx hj`d ycd dji ef ycd beqmyeqhtb ye

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imxfqebycdadlhjjhjlef1??3yeycdymqy

ef ycdbeqmyeqhtb* Pcmkke||mydq pdqbhy

mqd

adhjl

htdi

my

qmyd

9?

pdq`djy

ke|dq+

|hyc pdqbhy adhjl htdi my mj mvdqmld

qmydef ?*93

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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Fhltqd=?7Iddp|mydqmjiPcmkke|\mydqJd|\dkkIqhkkhjl_dqbhy1??3Jevdbadq1?==

Petq`d7AtqdmtefE`dmjDjdqlxBmjmldbdjy+ AtqdmtefPmfdyxmjiDjvhqejbdjymkDjfeq`dbdjy

Ymakd47MvdqmldJd|\dkkIqhkkhjl_dqbhyMppqevmk7Gmjtmqx1??3PymqyefIqhkkhjl

Beqmyeqhtb+IqhkkhjlBeqmyeqhtb+mjiDjiefIqhkkhjlBeqmyeqhtbJevdbadq1?==ax\mydq

Idpyc

Petq`d7AtqdmtefPmfdyxmjiDjvhqejbdjymkDjfeq`dbdjy*

?

=?

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0?

9?

4?

6?

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#:4??FP\(

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\mydq

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Imx

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Mvdqmldpdq

Imx

Gmjtmqx1??3Gtjd3+1?=? 041

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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0*0IqhkkhjlQhlmji\dkkIqhkkdi

Hf ycd 1?== yqdji hj pdqbhyyhjl qmyd

`ejyhjtd+ycdmahkhyxefycdeffceqdehkmji

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ye

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|dkk

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kdmihjl ye ke|dq kdvdk ef hjvdybdjy+

dbpkexbdjy mji pqeit`yhej* @tqqdjy

pdqbhyyhjl qmyd feq jd| |dkk |etki

hjih`myd qdit`dim`yhvhyxm ycdbey khndkx

ety`ebd m ycdjtbadqef |dkk dspd`ydi

yead

iqhkkdi

ye

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jtbadqef pdqbhy htdi hj1?== feqaeyc

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==mjiFhltqd=1(*

Fhltqd==7_qegd`ydiIddp|mydqJtbadqefJd|\dkk1?==1?=4mji1?==MvdqmldJd|\dkk

_dqbhy

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?

1?

9?

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3?

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f\dkk%_dqbhy

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Ady_eyBeqmyeqhtb@md 1?==MvdqmldIddp|mydq_dqbhyQmyd

=8

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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Fhltqd=17_qegd`ydiPcmkke|\mydqJtbadqefJd|\dkk1?==1?=4mji1?==MvdqmldJd|

\dkk_dqbhy

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ef ycdhjityqx+

m

hy

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ad iqhkkdi mqd jddidi m jey mkk iqhkkhjl

pdqbhymqdtdi*

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|dkk* Hy h hbpeqymjy ye jeyd ycmy jey mkk

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h `ebpkdydi ycmj ye `ebpkdyd m|dkk mji

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1?

8/3/2019 Study: The State of the Offshore Oil and Gas Industry

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)4??+???mimx+ycdkm`nefmiqhkkhjlpdqbhy

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dspd`y ye dj`etjydq ehk mji jmytqmk lm*

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ceqy|dkkaeqdejycdhidefycdbmhjaeqd

|ch`c jddi hy e|j pdqbhy h jddidi ye

ftqycdq tjidqymji ycd qddqvehq* Ych

pqe`d h jeqbmkkx qdpdmydi my vmqhet

idpycidpdjihjlej ycdepdqmyeqiqhkkhjl

pkmj*

Bmjx dspkeqmyhej |dkk fhji je ehk eq

jmytqmk lm+ eq ejkx fhji bmkk jej

`ebbdq`hmk }tmjyhyhd* Fmhktqd hj

dspkeqmyhej iqhkkhjl h `ebbej mji

dspdjhvd>iqhkkhjlmiddp|mydqdspkeqmyhej

|dkk hj ycd Ltkf ef Bdsh`e jeqbmkkx `ey

evdq )=?? bhkkhej* Epdqmyeq bty iqhkk

bmjx |dkk ye hidjyhfx m peqyfekhe ef

1=

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`ebbdq`hmkpqeit`yhejpqepd`yjd`dmqx

yebmshbhwdycdhqhjvdybdjyhjiqhkkhjlqhl

m |dkk m bddy yqmydlh` dspkeqmyhej mji

pqeit`yhejlemk*Itd ye ycdyhbdqd}thqdi

yemjmkxwdycdqdtkyefdspkeqmyhejiqhkkhjl+

hy h hbpeqymjy feq epdqmyeq ye cmvd mj

hjvdjyeqxefehkmjijmytqmklmih`evdqhd*

Bmjx fm`yeq mffd`y ce| epdqmyeq

pqheqhyhwd ih`evdqhd feq idvdkepbdjy*

Pebdih`evdqhd`mjejkxadidvdkepdi hj

ymjidb|hyceycdqjdmqaxqdetq`d+|ch`c

bmx

eq

bmx

jey

ad

e|jdi

ax

ycd

mbd

lqetp ef epdqmyeq* Miihyhejmkkx+ ycd

dshydj`d ef mvmhkmakd hjfqmyqt`ytqd

hj`ktihjl fm`hkhyhd mji phpdkhjd `mj mffd`y

ycd d`ejebh` mji yhbhjl ef pqegd`y* Mj

hjmahkhyx ye iqhkk djetlc dspkeqmyhej |dkk

|hychj m `dqymhj qdlhej+|cdycdq itd ye m

iqhkkhjlbeqmyeqhtb+mpdqbhy ke|ie|jeq

eycdqqdmej+

`mtd

ycd

dspkeqmyhej

mji

pqeit`yhej ef cxiqe`mqaej ye ad kd

myyqm`yhvd ye epdqmyeq qdkmyhvd ye eycdq

qdlhej |cdqd ych h jey ycd `md+ hf

dvdqxychjldkdqdbmhjd}tmk*

Mfydq mjmkxh ef ycd dspkeqmyhej iqhkkhjl h

`ebpkdyd+ epdqmyeq jeqbmkkx tjidqymnd

|cmyh

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m

mppqmhmk

iqhkkhjl*

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ycd qdtkyef ycd hjhyhmkdspkeqmyhejiqhkkhjl

mjiidkhjdmydycdqdetq`dhjpkm`dmady

mpehakd*Mppqmhmk|dkkmqdiqhkkditpye

ycd pehjy ycmy ycd epdqmyeq cm djetlc

tjidqymjihjlefycdhwdmjijmytqdefycd

ehk mji lm qddqvehq ye pqe`ddi |hyc ycd

idvdkepbdjyid`hhej*

Ej`d m idvdkepbdjy id`hhej h bmid m

idvdkepbdjypkmjbtyadmppqevdiaxycd

AEDBetykhjhjl ycdpkmjjdiidvdkepbdjy*

Tpej eaymhjhjl mppqevmk+ m tffh`hdjy

jtbadq ef iqhkkhjl pdqbhy ye ymqy iqhkkhjl

bty ad mppqevdi ax APDD+ ycdj

idvdkepbdjyiqhkkhjl+

eq

ycd

iqhkkhjl

ef ehk

mjijmytqmklmpqeit`yhej|dkk`mjadlhj*

Ycd kdjlycef yhbdadfeqddspd`ydipqegd`y

ymqytpvmqhdidpdjihjltpej ycdjtbadq

ef|dkkpkmjjdim|dkkmycdmvmhkmahkhyxef

iqhkkhjl qhl* Ycdd vmqxhjl htd iqhvd

iqhkkhjl`cditkd|ch`c`etkiadlhjyeymnd

pkm`d hbbdihmydkx mfydq mj`yhej mji

`ejyhjtd pmy hjhyhmk pqegd`y pqeit`yhej*

Mke+ hj ebd `md+ dspkeqmyhej mji

mppqmhmk |dkk mqd qdepdjdi mji

`ebpkdydi hjyepqeit`yhej|dkk+ mkk|ch`c

jddi ycd jd`dmqx pdqbhy* Idvdkepbdjy

iqhkkhjl h jddidi jey ejkx feq jd| fhdki+

aty mke ye `ejyhjtd mji djcmj`d

pqeit`yhejej

dshyhjl

pqegd`y+

m

ehk

mji

jmytqmk lm pqeit`yhej id`khjd evdq yhbd

fqebdshyhjl|dkk*

11

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0*0*1\dkkIqhkkdiaxP`djmqhe

Fqeb 1?=? ycqetlc ycd dji ef 1?==+ =

61

hj ycd iddp|mydq mji ==9 hj ycd cmkke|

|mydq#Fhltqd=0mjiFhltqd=9(* Hf pdqbhy

ye iqhkk `ejyhjtd ye ad htdi my adke|

chyeqh`mk qmyd fqeb 1?=? ye 1?=4+ ycd

jtbadq ef |dkk iqhkkdi qdkmyhvd ye pqd

beqmyeqhtb feqd`my|hkkid`qdmdax99

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Fhltqd=97_qegd`ydi@tbtkmyhvdJtbadqefPcmkke|\mydq\dkkIqhkkdi1?=?1?=4

Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==

?

1??

9??

6??

3??

=???

=1??

=9??

=6??

1?=? 1?== 1?=1 1?=0 1?=9 1?=4

Jtbadqef\dkkp

@tqqdjy _myc@md Ady_eyBeqmyeqhtb@md _qdBeqmyeqhtb@md

19

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0*0*0Lkeamk\dkkIqhkkdi

Ej ycd `tqqdjy pmyc+ ycd yeymk jtbadq ef

effceqd|dkkiqhkkdihjycdT*P*hdspd`ydi

yead

9=

pdq`djy

chlcdq

hj

1?=4

ycmj

|m

ddj hj1?=?+ `ebpmqdi ye ycd qdyef ycd

|eqki |cdqd ycd yeymk jtbadq ef |dkk

iqhkkdi hdspd`ydi yead40pdq`djychlcdq

ej mvdqmld+ |hyc Mfqh`m dspd`ydi ye

hj`qdmd 81 pdq`djy mji Petyc Mbdqh`m

dspd`ydiye hj`qdmd36pdq`djy*Hf ycdT*P*

|dqd ye dd mj hj`qdmd hj ycdjtbadq ef

iqhkkhjlpdqbhy

htdi+

ycd

jtbadq

ef|dkk

iqhkkdi hj 1?=4 h dspd`ydi ye hj`qdmd 40

pdq`djyfqeb|cmy|mddj hj1?=?#Ymakd

6(* \chkd ych h ke|dq ycmj ycd 04?

pqegd`ydi|dkk|hychj ycd _qdBeqmyeqhtb

@md+hyhyhkkmhljhfh`mjyhj`qdmd*

Ymakd67T*P*@tqqdjy_myc@mdmjiAdy_eyBeqmyeqhtb@mdmjiQdyef\eqkiJtbadqef

\dkk_qegd`ydiyeadIqhkkdi1?=?1?=4_qegd`ydi#Mkk\mydqIdpyc(=?

Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==

=?Qdyef\eqkihjvdybdjy`djmqhe`eqqdpejiyeycdT*P*@tqqdjy_myc@md*Ady_eyBeqmyeqhtb

@mdqdmkhwmyhej|etkimkydqycdQdyef\eqkihjvdybdjy `djmqhece|jmaevdaxpqhbmqhkxid`qdmhjl

hjvdybdjy kdvdkmiqhkkhjlqhlmjiidvdkepbdjy m`yhvhyxhj`qdmdihjycdLtkfefBdsh`ehjycdAdy_ey

Beqmyeqhtb@md*

\dkk@etjyFeqd`my 1??3 1??8 1?=? 1?== 1?=1 1?=0 1?=9 1?=41?=?1?=4

Lqe|yc

TPLeB@tqqdjy _myc@md 943 101 111 =34 149 181 0=3 0=9 9=$

TPLeB Ady_eyBeqmyeqhtb@md 943 101 111 =36 13? 184 04= 008 40$

Mfqh`m%Bdihydqqmjdmj 063 03? 99? 413 646 3=6 301 399 81$

Mhm%_m`hfh` 946 939 41? 981 986 41? 481 6?9 =6$

JeqycPdm%Mq`yh` 469 463 606 601 63? 639

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0*0*9IqhkkhjlFkddyLtkfefBdsh`emjiQdyefycd\eqki

Ycdid`khjd hj|dkkiqhkkhjlpdqbhymji ycd

tad}tdjyid`khjd hj ycdjtbadqef |dkk

iqhkkdi|hkk

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kdmi

ye

mke|dq

jtbadq ef qhl epdqmyhjl hj ycd Ltkf ef

Bdsh`e+ dpd`hmkkx hj iddp |mydq* Iddp

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chlc m )4??+??? m imx* Qhl |hkk jey ad

ndpy hj ycd qdlhej hf ycdx mqd tjmakd ye

qdbmhj epdqmyhjl #|hyc tffh`hdjy am`ntp

|eqn `cditkdi(* \chkd m jtbadq ef qhl

cmvd mkqdmix kdfy ycdLtkf ef Bdsh`e ebd

mqdpkmjjhjl ye qdytqj* Hf pdqbhyyhjl yqdji

`ejyhjtd m hj ycd @tqqdjy _myc @md+ ycd

jtbadq ef iddp|mydq qhl hj ycd Ltkf ef

Bdsh`eh

dspd`ydi

ye

ad

13

hj

1?=4+

ejkx

ejd ke|dqycmjycdmvdqmld hj1?=?aty0

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\chkd hj ycd qdyef ycd|eqki ycdjtbadq

ef iddp|mydq iqhkkhjl qhl epdqmyhjl h

dspd`ydi ye hj`qdmd ax 44 pdq`djy fqeb

1?=? ye 1?=4+ ycd jtbadq ef iddp|mydq

iqhkkhjlqhlepdqmyhjl hjycdLtkf efBdsh`e

h dspd`ydi ye ad ie|j ax ejd qhl eq m

qdit`yhejef0pdq`djyhj1?=4`ebpmqdiye

1?=?ejycd`tqqdjypmyc*\hycmqdytqjye

chyeqh`mk pdqbhyyhjl kdvdk ce|dvdq+ ycd

jtbadq ef qhl epdqmyhjl hj ycd Ltkf ef

Bdsh`e h dspd`ydi ye hj`qdmd 0=pdq`djy

hjycdAdy _eyBeqmyeqhtb@md*Ycdqdy

efycd|eqki|hkkddmjmvdqmldhj`qdmdef

44pdq`djyhjycdjtbadqefiddp|mydqqhl

|eqnhjl+|hyc ycd kmqldy hj`qdmd `ebhjl

hj Mfqh`m%Bdihydqqmjdmj #81 pdq`djy( mji

PetycMbdqh`m#36pdq`djy(#Ymakd

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idvdkepbdjyhjeycdqqdlhejycmy|etkiad

pdjy hjycdTjhydiPymyd #Fhltqd1(* Ltkf

ef Bdsh`e mji lkeamk hjvdybdjy

pqegd`yhejmqd ftqycdqih`tdi hjd`yhej

9Uadke|*

Ymakd37

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Iqhkkhjl

Qhl

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LeB

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ye

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Beqmyeqhtb

mji

_dqbhyPke|ie|j7QhlJmbd+IdpmqytqdImyd+Idyhjmyhejmji_qegd`ydiMe`hmydiKey\dkk

_eydjyhmk

Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==

QhlJmbd IdpmqytqdImyd Idyhjmyhej Key\dkk_eydjyhmk

Ih`evdqdqPphqhy Gtj== Khadqhm 0

Dj`eIP0#M`djhej( Jev== Mjlekm =?

Dj`eIP9#@kmqhej( Bmx== Aqmwhk =1

Dj`e34?0 Bmq

== Fqdj`c

Lthmjm 1

E`dmjDjidmveq Gtk=? Dlxpy =9

Yqmje`dmjBmqhmjm Pdp=? JhldqhmLcmjm =0

Yqmje`dmjMbhqmjyd Gtk== Dlxpy ==

Jeakd_mtkQebmje Jev== Dlxpy =?

E`dmjBejmq`c E`y== Vhdyjmb ==

E`dmj@ejfhidj`d Pdp=? @ejleMjlekm 9

Jeakd@kxidAetiqdmts Gmj== Aqmwhk =0

YeymkKey\dkk =?0

13

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0*9_qegd`yhjycdLtkfefBdsh`e

Ax hbpm`yhjl iqhkkhjl qmyd+ ycd iqhkkhjl

beqmyeqhtbm

|dkk

m

pmy

mji

ftytqd

pdqbhyyhjl qmyd cm mji |hkk `ejyhjtd ye

mffd`y mkk pqegd`y idvdkepbdjy m`yhvhyhd

t`cmycdbmjtfm`ytqhjlefcmqi|mqd+ycd

fmaqh`myhejefpkmyfeqbmjiycdhjymkkmyhej

efphpdkhjd* _qegd`ymqdefydj`mydleqhwdi

amdi ej |mydq idpyc+ `ebpmjx yxpd

#bmgeq btkyhjmyhejmk ehk `ebpmjx eq

hjidpdjidjy( mji

|cdycdq

ycd

pqegd`y

cm hye|jpkmyfeqbeq fkemyhjlpqeit`yhej

tjhy#ymjimkejd(+eqtyhkhwdtbahkh`mkmji

tadm fke|khjdyeyqmjpeqycxiqe`mqaej

ye mjdshyhjlpkmyfeqb #tadm yhdam`neq

PPYA(*

0*9*=Iddp\mydq_qegd`yaxP`djmqhe

Hf `tqqdjyyqdji`ejyhjtd+yeymk`tbtkmyhvd

jtbadqefiddp|mydqpqegd`yfqeb1?=?ye

1?=4 hdspd`ydi yead60eqm13pdq`djy

id`khjd fqeb ycd dspd`ydi 3

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Fhltqd=67_qegd`ydiIddp|mydq_qegd`yDsd`tyhej1?=?1?=4axP`djmqhe

Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==

0*9*1Pcmkke|\mydq_qegd`yaxP`djmqhe

Hj ycd @tqqdjy _myc @md+ cmkke| |mydq

pqegd`y

hj

|mydq

idpyc

adke|

4??

fddy+

mqddspd`ydiyeddycd`tbtkmyhvdjtbadq

ef pqegd`y ady|ddj 1?=?1?=4 fmkk 1

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Fhltqd=

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Ymakd87_qegd`ydi_qegd`yIdkmxaxEpdqmyeqYxpdmji\mydqIdpyc

Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==

\hycm qdytqj yepqdbeqmyeqhtbchyeqh`mk

pdqbhyyhjl qmyd+ idkmx feq aeyc

hjidpdjidjymji

bmgeq

epdqmyeq

hj

mkk

|mydq idpyc cetki ad hljhfh`mjykx

qdit`di*HjycdAdy_eyBeqmyeqhtb@md+

ycd yeymk jtbadq ef idkmxdi hjidpdjidjy

epdqmyeq pqegd`y h dyhbmydi my ejkx 16

pqegd`y+|hycycdmvdqmldidkmxfeqcmkke|

|mydqpqegd`y fmkkhjlye=*=4xdmqmjiycd

mvdqmldidkmxfeqiddp|mydqpqegd`yfmkkhjl

ye=*30

xdmq*

Feq

bmgeq

epdqmyeq

ycd

jtbadq ef idkmxdi pqegd`y |etki fmkk ye

1?+ |hyc ycd mvdqmld idkmx feq cmkke|

|mydqpqegd`y fmkkhjl ye ?*6 xdmq mji ycd

mvdqmldidkmxfeqiddp|mydqpqegd`yfmkkhjl

ye=*=4xdmq*

0*9*9LkeamkEffceqd_qegd`yIdvdkepbdjy

Ycd T*P* h pqegd`ydi ye dd m id`khjhjl

pdq`djymldef lkeamkpqegd`ydsd`tyhejej

ycd `tqqdjy pmyc |hyc ycd T*P* cmqd ef

ymjimkejd== pqegd`y pqegd`ydi ye id`khjd

ye 8 pdq`djy ej ycd @tqqdjy _myc @md

`ebpmqdi ye ==pdq`djyej ycdAdy _ey

Beqmyeqhtb @md+ mji ycd T*P* cmqd ef

==Pymjimkejdpqegd`ymqdidfhjdimpqegd`y

|hycmjd|pkmyfeqbeqfkemyhjlpqeit`yhej

xydbcey*

tadmyhdam`n=1id`khjhjlye=?pdq`djyej

ycd @tqqdjy _myc @md `ebpmqdi ye dvdj

pdq`djy hj ycd Ady _eyBeqmyeqhtb @md

#YmakdU=?(*

=1PtadmYhdam`nmqdidfhjdimpqegd`y

|hycetyjd|pkmyfeqbeqfkemyhjlpqeit`yhej

xydbtyhkhwhjldshyhjlcey*

_qegd`yYxpdJtbadqef_qegd`y

IdkmxdiMvdqmldIdkmx#Xdmq(

Jtbadqef_qegd`y

IdkmxdiMvdqmldIdkmx#Xdmq(

Pcmkke|\mydqHjidpdjidjy 4= =*9? 1? =*=4

Pcmkke|\mydq

Bmgeq 09 ?*8? =< ?*6?

Pcmkke|\mydqYeymk 34 =*=4 0< ?*33

Iddp|mydqHjidpdjidjy =8 =*84 6 =*30

Iddp|mydqBmgeq 18 =*68 0 =*=4

Iddp|mydqYeymk 93 =*31 8 =*98

Mkk \mydqIdpycYeymk =00 =*98 96 =*=3

_qdBeqmyeqhtb yeAdy_eyBeqmyeqhtb@md_qdBeqmyeqhtb ye@tqqdjy_myc@md

01

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Ymakd=?7_qegd`ydiIddp|mydq_qegd`yDsd`tyhej1?=?1?=4\eqki|hidPymjimkejd_qegd`y

mjiPtadmYhdam`n

Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==

Iddp|mydq_qegd`yDsd`tyhej _qegd`yYxpd 1?=? 1?== 1?=1 1?=0 1?=9 1?=4

Pymjimkejd 0 9 = 6 9 6

PtadmYhdAm`n 6 6 =1 == 3 ==

Yeymk_qegd`y 8 =? =0 =< =1 =