Fpso forum presentation sept 2011

envision • engage • energize • enable

CONTACT:Endeavor Management2700 Post Oak Blvd., Suite 1400 Houston, TX 77056713 877-8130 (office)

FPSO Milestones –To Boldly Go Where No Man Has Gone Before

Emerging FPSO FORUMSeptember 22, 2011Presentation by: Bruce Crager

Page 2©2011 Endeavor Management. All Rights Reserved.

FPSO by Region

0

5

10

15

20

25

30

35

1975 1979 1983 1987 1991 1995 1999 2003 2007 2011 2015

Western EuropeNorth AmericaMiddle EastLatin AmericaEastern Europe & FSUAustralasiaAsiaAfrica

Source: Douglas-Westwood


FPS By Type

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0

5

10

15

20

25

30

35

40

45

1975 1979 1983 1987 1991 1995 1999 2003 2007 2011 2015

TLPSparFPSSFPSOLinear (FPSO (% of total))

Source: Douglas-Westwood


FPSO Construction Type

Newbuilds38%

Conversions62%


FPSO Ownership

Operator Owned

43%Contractor

Owned57%


Owners with >1 Unit

Includes JV Shares

Source file: FPS Lease Expirations_ Working Q4 2010.xls

18%

18%

11%10%

9%

5%

5%

5%

4%

3%3%

3% 3% 3%

MODECSBMBW OffshoreProsafe ProductionBluewater OffshoreSevan MarineTeekay Fred Olsen ProductionAker Floating ProductionBumi ArmadaMaerskMISCSea ProductionTanker Pacific

Leased FPSO Market Share by Owner

Source: Quest

Page 7©2011 Endeavor Management. All Rights Reserved.Source file: FPS Lease Expirations_ Working Q4 2010.xls

0

1

2

3

4

5

6

7

8

9

10

Current 2011 2012 2013 2014

Available Year

Num

ber o

f Uni

ts

FPSO

Forecasted Off Contract FPS Leased Fleet Availability

by Type and Year Current-2014 (Likely to be retired and EWT excluded)

Source: Quest


San Jacinto


San Jacinto Technical Data

Owner ?Coldstacked

Operating Water Depth

91 meters,Sembilang

Number of Locations 3

Max Liquid Handling 11,000 bpd

Oil Storage Capacity 53,000 bbls

Mooring System Type 8 Point Spread

Operator, Field, Location Conoco - Kepiting, Ikan Pari, Sembilang - Indonesia

Date Built / Converted 1986 Built / 1994 Upgraded


Seillean (BP SWOPS)


Seillean Technical Data

Owner Noble Drilling

Operating Water Depth 2,000 meters Max

Number of Locations Multiple


Oil Storage Capacity 300,000 barrels

Mooring System Type

DynamicPositioning

Operator, Field, Location BP, North Sea Petrobras, Deepwater EWT, Brazil

Date Built / Converted 1990 FPSV / 1998 FPSO


Ocean Producer


Ocean Producer Technical Data

Owner OceaneeringScrapped 2010

Operating Water Depth 15m – 53m



Oil Storage Capacity 510,000 bbls

Mooring System Type

Disconnectable6 Point Spread /8 Point Spread

Operator, Field, Location Amoco, Gabon Sonangol - Kiabo, Canuku - Angola

Date Built / Converted 1969 / 1991


BW Athena


BW Athena Technical Data

Owner BW Offshore

Operating Water Depth 20 meter min.


Max Liquid Handling 40,000 BPD

Oil Storage Capacity 50,000 Barrels

Mooring System Type

Dynamic Positioning

Operator, Field, Location Ithica Energy, Athena, UK, BW Offshore

Date Built / Converted 1994 BWT / 1999 FPSO


Zafiro Producer– Phase 1


Zafiro Producer Technical Data

Owner ExxonMobil

Operating Water Depth 180 meters


Max Liquid Handling 80,000 BOPD

Oil Storage Capacity 1.9 Million Barrels


Operator, Field, Location ExxonMobil, Zafiro Block B, Equatorial Guinea



Zafiro Producer


Zafiro Producer – Phase 2 A, B and C


Zafiro Producer


Zafiro Producer Technical Data

Upgrades

Waterflood 120,000 BWPD

Slug Catchers 2@ 60,000 BWPD each

Power 12 MW

Compression 15,000 HP

Accommodations 58 Person Additional

Hull Steel Replaced in field200 Tons

Increased Life From 5 – 15 yrs.

Operator, Field, Location ExxonMobil, Zafiro Block B, Equatorial Guinea

Date Built / Converted 1973 / 1996, Upgraded 1997 -1998 in field to FPU

Owner: ExxonMobil


ORCA


ORCA


ORCA Technical Data

Owner PetroSA

Operating Water Depth 120 meters



Oil Storage Capacity 34,000 Barrels


Operator, Field, Location PetroSA, Oribi, South Africa

Date Built / Converted 1970 Halifax Canada / 1997 Conversion


Sevan Piranema


Sevan Piranema Technical Data

Owner Sevan Marine

Operating Water Depth

1,090 meters (1,600 - Phase 2)


Max Liquid Handling 30 MBOPD

Oil Storage Capacity 250 MBBLs


Operator, Field, Location Petrobras, Piranema, Brazil

Date Built / Converted 2007


Dynamic Producer


Dynamic Producer Technical Data

Owner Petroserv

Operating Water Depth 200-2,500 meters


Liquid HandlingCapacity 30,000 bpd

Oil Storage Capacity 300,000 barrels

Mooring System Type

Dynamic Positioning

Operator, Field, Location Petrobras, Carioca, Brazil

Date Built / Converted 1987/2009


Azurite - FDPSO


Azurite Graphic - FDPSO


Azurite Technical Data

Owner BW Offshore

Operating Water Depth 1,400 meters



Oil Storage Capacity 1.3 MBBLs

Mooring System Type Spread

Operator, Field, Location Murphy, Azurite, Republic of the Congo



BW Pioneer


BW Pioneer


BW Pioneer Technical Data

Owner BW Offshore

Operating Water Depth 2,600 meters


Max Liquid Handling 80 MBOPD

Oil Storage Capacity 600 MBBLs

Mooring System Type 10 Leg Spread

Operator, Field, Location Petrobras Cascade Chinook, US GOM

Date Built / Converted 1992 / 2010 Converted


Conclusions

• FPSO’s come in many shapes and sizes

• FPSO’s can support marginal projects as well as large projects

• Benefits of FPSO’s:

– FPSO’s are not a patented solution and can be used by anyone

– Redeployment of FPSO’s is very common and cost effective

– There is a robust market supply of leased FPSO’s

– FPSO’s can be fully commissioned before leaving the shipyard

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Fpso forum presentation sept 2011

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