Australian LNG underpinning long term opportunities for the Offshore Support Vessel Sector

M3 Marine Group Pte Ltd1 Commonwealth Lane #06-21 ONE Commonwealth Singapore 149544 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg All rights reserved.

Australian LNG Underpinning Long Term

Opportunities for the Offshore Support Vessel

Sector


INTRODUCTIONMuch has been heralded of the success of Australia’s resources boom.

The oil and gas industry in Australia, in particular the export of Liquefied Natural Gas (LNG) continues to fuel activity and confidence in the Australian economy with continued exploration and committed development promising at least another 40 to 50 years of sustainable activity in this sector.


Australian Gas Fields


Some Definitions


WHY AUSTRALIAN LNG – ISN’T IT EXPENSIVE?Expensive – yes, however there are many real and added advantages to developing long term contracts for Australian LNG, namely:


THE DEVELOPMENTS

In order of commissioning


The NORTH WEST SHELF VENTURE

http://upload.wikimedia.org/wikipedia/en/5/59/Nws_map1.png


TheNorth West ShelfVenture


Offshore facilities include:TheNorth West ShelfVenture


DARWIN LNG


DarwinLNG


Offshore facilities include:BAYU UNDAN PLATFORMSLIBERDADE FSO (Condensate / LPG)

DarwinLNG


PLUTO LNG


Pluto will be the third major LNG export facility operating from Australia with first gas forecast for the middle of 2012. A 90% Woodside owned development (5% each to Tokyo and Kansai Gas), the 200 hectare Pluto Onshore Gas Plant is situated right next door to the NWSV OGP in Dampier and will initially operate a single train LNG and condensate export facility with a capacity to produce 4.2M tonnes LNG per year.

PlutoLNG


PLUTO’s single offshore facility is the PLUTO PLATFORM

PlutoLNG


GORGON (the mighty!)


GORGON


GORGON


The Gorgon development is also notable because it is a ‘subsea field’ with a wide array of subsea well heads linked via flowlines through to subsea production manifolds and control systems.This presents unparalleled opportunities for Subsea Support vessels in this region.

GORGON


GLADSTONE LNG: (Australia’s shale gas success story)


GladstoneLNG


FUTURE LNG DEVELOPMENTS:


WHEATSTONE LNG DEVELOPMENT


Operator and major partner Chevron. FID approved this year.

LNG development just outside the remote town of Onslow on Northern coast of Western Australia. The initial phase will produce a 2 train 8.9M tonnes per year capacity with first gas slated at 2016. Wheatstone is also seeking approvals to expand out to a massive 25M tonnes per year by installing a further 3 LNG Trains. Combined, Wheatstone and Gorgon far exceed the capacity of the North West Shelf Venture.

Key to the development will be a massive Processing platform 225 kilometers off the coast. This platform will be one of the biggest production platforms in the world.

Wheatstone


Wheatstone CPP


This development will again largely utilize an array of subsea manifolds, structures and control stations.

Wheatstone


BROWSE


BROWSE


ICHTHYS


The INPEX ICHTHYS will deliver gas to a facility based in Darwin, Northern Territory, by what will be one of the world’s longest (900 km) large diameter gas trunklines.

ICHTHYS


ICHTHYS


ICHTHYS OFFSHORE FACILITIESICHTHYS


SCARBOROUGH

A 50/50 JV between ExxonMobil (Operator via subsidiary Esso) and BHP Billiton, the 900 msw deep water SCARBOROUGH field is in deep water North of Onslow and has the potential to produce 8-10 TCF of gas.


FLOATING LNG

“FLNG”


PRELUDEWith Shell authorizing FID on PRELUDE earlier this year, Australia is set to have the world first Floating Liquid Natural Gas facility in full operation by 2016.

This technology is groundbreaking and expensive and the facility will be the largest floating vessel ever built by man.


PRELUDE

The dimensions of this giant vessel are staggering (488 metres long x 74 metres wide and displacing 600,000 tonnes).


The Prelude FLNG, presently under construction at Samsung Shipyard in Korea, is designed to produce 5.3M tonnes of LNG per year over a field life of 25 years.

Prelude


Australia is set to quickly have the largest density of FLNG’s in the world with the following 3 additional FLNG’s in advanced stages of Front End Engineering and Design (FEED)

Woodside/Shell SUNRISE (Timor Sea Joint development zone between Australia and East Timor)Beset with strategic wrangling on royalties and local content between Australia and East Timor (Timor-Leste) Sunrise was once predicted to be the worlds first FLNG development, however recent reports suggest a piped solution to a possible export facility in Timor-Leste. Either way, if given investment approval, the project will offer significant opportunities for Australian based Offshore Support Vessels.

With first gas say 5 years post FID, the Greater Sunrise fields have predicted reserves of 5.13 TCF of gas and 225 Million barrels of Condensate over a field life of 30 years.

Sunrise


Sunrise


Two more FLNG projects in the FEED stage are:

PTTEP CASH-MAPLE (Timor Sea)PTTEP are conduction FEED studies into exploiting the find by use of FLNG technologies.

Santos/GDF Suez BONAPARTE PETREL-TERN-FRIGATE (Bonaparte Gulf, Northern Territory).Presently in pre-FEED based on an FLNG solution.

These projects are smaller in scope than Prelude and Sunrise, however, their smaller size may facilitate swift FID and timeline to first gas. These developments may lead the world in ‘Marginal’ FLNG developments.




OSV Types with a strong future supporting Australian LNG developments

Medium to Large Platform Supply Vessels

Required to supply materials and supplies to the very large and remote developments through drilling, construction (including pipe haul) and production


Medium and High Horsepower AHTS’s for continued drilling and exploration and deep water moorings and trenching activities


Subsea Diving / ROV / Construction Support VesselsA real growth opportunity


Pipelay Vessels / Construction Vessels


Deepwater DP3 Accommodation, Well Intervention, Construction Support Vessels


High Horsepower Azimuth Driven Offtake Support Vessels (FPSO and FLNG support)


Seismic and Seismic Support


LNG Tanker Assist Tugs (LNG Powered?)


THANK YOU FOR YOUR ATTENTION

(Any Questions?)

© John Meade, M3 Marine Group 24th November 2011

M3 Marine Group Pte Ltd

Address: 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg

Professionals who add Technical & Commercial Competence

to your Offshore Marine vessel needs

GROUP CAPABILITY STATEMENT

2011

1 Commonwealth Lane#06-21, ONE Commonwealth

Singapore 149544Tel: +65 6327 4606Fax: +65 6221 4606

www.m3marine.com.sg

M3 MARINE GROUP SERVICES AT A GLANCE…

M3 Marine Group Pte LtdAddress: 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg All rights reserved.

The Group’s founder and CEO, Captain Mike Meade (MNI), is a trusted and respected contributor to the commercial needs of the offshore marine industry, with a slant towards the subsea network, both locally and globally and is Asia Pacific’s Representation on the IMCA Marine Division Management Committee. Mike previously held senior positions within the Swire Group and Seacor Marine Int. and has over 30 yrs of valuable commercial and operational experience.

The M3 Marine Group provides offshore ship broking and a comprehensive range of technical and commercial consultancy services tailored to meet the needs of the Offshore Marine, Oil & Gas Industry. With extensive, real and valuable, multi-faceted, industry experience and ‘up to the minute’ expert offshore knowledge, M3 Marine “adds value” where it matters.

The Group’s COO, Captain John Meade, brings a wealth of knowledge and acquired skills across a wide range of marine disciplines including senior roles in Pilotage, Towage, Port Operations and Marine Warranty. His expertise in the offshore marine ‘patch’ includes Rig Moving, FPSO Operations, Vessel Inspections, Auditing and Marine Warranty of Offshore Construction Projects.

The Group has a team of dedicated brokers who each hold ‘real’ industry background and a technical team of project engineers, experts in their respective fields.

It is further underpinned by a network of associates and contacts and a non-exclusive pool of mariners, chief engineers, offshore engineers and industry professionals.

“ADDS VALUE”

M3 MARINE GROUP

PLACEMENTS• Offshore Construction Support

• High-end Crewing• Project Managers & On-shore

Professionals

NEWBUILDS• Vessel Design/Spec.

• Prequal. Shipyard/Bidding/Selection• Contract Negotiation • Commercial Closing

• Site Supervision/Trials

TECHNICALCONSULTANCY

• DP Vessel AssuranceAnnual Trials

• FMEA review/authoring• DSV & Systems Integration

• Audits & Inspections

COMMERCIALCONSULTANCY

• Asset Valuation• Market Studies• Due Diligence

• Legal/Insurance Support• Technical Editing

SALE & PURCHASE• Tugs, Barges, AHT, AHTS, PSVs, DSVs,

SOV, OCV, PLB, Jack-ups….etc

CHARTERING• All OSV and rig types• Time and Bareboat

M3 MARINE OFFSHORE BROKERS

M3 Marine Expertise Pte Ltd15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg All rights reserved.M3 Marine Group Pte LtdAddress: 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg All rights reserved

We are one of Asia’s largest independent offshore ship brokerage houses, incorporated in 2006 as a subsidiary company of the M3 Marine Group, situated in the ‘hub’ of marine activity and...

sourcing a comprehensive spread of offshore support vessels which meet your chartering and /or purchasing requirements; facilitating and ‘adding value’ to your prospective transactions; providing assistance in contract drafting translating into both time and cost savings; ‘staying with you’ throughout the duration of the charter / sale / purchase / newbuilding process and maintain our commitment to facilitating the relationship between the parties and our client’s objectives; using BIMCO's IDEA, an internet-based charter party editing system, which protects the underlying text of edited documents so that both parties will always know exactly what amendments have been made to the standard wording; playing a proactive role in ensuring ‘FAIR’ (IMCA) contracting principles are adhered to; having direct access to a vast network of offshore vessel owners, operators, financial institutions, shipyards, keen buyers and sellers; offering REALISTIC RATE GUIDANCE; and having an excellent track record of satisfied clients and, as such, benefitting from a loyal customer base.

Our brokers are constantly interfacing with the market and gathering invaluable ‘market intelligence’ in this process. To pass the benefit of this directly to our clients and potential clients, we have compiled easy to read spreadsheets which are live, updated daily and made available to the public on an un-named basis. Please visit our website www.m3marine.com.sg to download the latest Sales & Purchase and Charter Lists.

M3 MARINE EXPERTISEIn-house Technical Team & External Placement of Expertise…

M3 Marine Expertise Pte Ltd15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg All rights reserved.

Joanna Clark (LLB), UK qualified lawyer and MD of M3 Marine Expertise Pte Ltd.

“Our clients value our astute commercial and operational acumen, up to date market knowledge and other synergies that we draw upon within the Group network of in-house technical and brokerage services. Through sharing of resources, assets and abilities, we strengthen and bolster the quality, depth and breadth of our services and our reserve of expertise, providing the technical assurance, adaptability and flexibility, as is required by our clients, over the course of a project.”

M3 Marine Group Pte LtdAddress: 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg All rights reserved

Joey Fisher (MIMarEST), Class 1 Chief Engineer and Technical Manger of M3 Marine Expertise Pte Ltd.

M3 Marine Expertise, a subsidiary M3 Marine Group, was newly incorporated in early 2010 to focus on providing first class technical and commercial / corporate consultancy services which meet the needs of the Offshore Marine, Oil and Gas industry. We are a young and dynamic company with an excellent track record of delivering high quality technical and commercial analysis, assessments and reports and have earned ourselves a growing pool of satisfied and repeat customers.

Joey Fisher is a versatile and self motivated Class 1 Marine Engineer with a wealth of technical, operational and management experience in the Marine, Subsea and Offshore sectors, solution and results orientated with solid communication, report writing and organisational skills. With a keen eye for detail and a passion for doing things right the first time. Joey now heads up our team of dedicated project engineers who are based in Singapore and provide a wide range of technical consultancy services.

KEY AREAS OF EXPERTISE (In-house Project Team):IMCA CMID auditingFMEA authoring and auditingSaturation and Air Dive SystemsDynamic Positioning Systems

Wind Farm Installation Consultancy Newbuild and Conversion Supervision Project Management

We are supported by a team of dedicated in-house projects engineers, led by our highly esteemed Technical Manager, Joey Fisher, and further backed by a network of associates, contacts and a non-exclusive pool of mariners, chief engineers, offshore engineers and industry professionals.

M3 MARINE EXPERTISEIn-house Technical Team & External Placement of Expertise…

M3 Marine Expertise Pte Ltd15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg All rights reserved.

• FAILURE MODES & EFFECTS ANALYSISFMEA authoring and review for all vessel related systems, providing a first class, quality service to a fast emerging, global client base and rapidly becoming recognized as a leader in this field of expertise.

• DYNAMIC POSITIONING CONSULTANCY / ANNUAL DP TRIALSAudits of marine DP equipment to IMO, Class and IMCA standards, contract consultancy, vessel suitability and documentation, Annual DP / sea trials, verification tests as required following FMEA review.

• VESSELS AUDITSInspections and audits including IMCA CMID, pre-purchase condition surveys and technical due diligence on all OSV types and vessel specific systems.

• DSV SERVICESComprehensive understanding and direct interpretation of DNV or other IACS member society’s rules for diving systems and equipment requirements, advice on equipment specification and selection, equipment layout and location, vessel integration specifications, conceptual design and detailed design review / plan approval.

• TECHNICAL & COMMERCIAL DUE DILIGENCE AND MARKET RESEARCHAimed at adding significant contribution to new projects, M&A strategy, vessel requirements etc.

• VESSEL / RIG VALUATIONSIndependent asset valuations for a host of banks, financial institutions and vessel / rig owners in Singapore and internationally. • SPECIALIST MARINE MANNING: A pool of marine professionals with a high level of

specialized disciplines incl Master Mariners, Chief Engineers, DP Officers, Project Managers, OIMs, Construction Engineers, HSE Managers…..

• LEGAL AND INSURANCE CLAIMS SUPPORT: Quality expert opinion, professional testimony, legal and insurance claims support service.

M3 Marine Group Pte LtdAddress: 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 t: +65 6327 4606 m: [email protected] w: www.m3marine.com.sg All rights reserved

• WIND FARM INSTALLATION SERVICESSpecialist knowledge and experience in offshore wind farm installations specifically in installing Siemens wind turbines and transition pieces, design, review and advice on installation conceptual design (deck layout, equipment locations, installation methodology), feasibility studies, stability reviews and effective management of class and warranty surveyors.

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Australian LNG underpinning long term opportunities for the Offshore Support Vessel Sector

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