FPSO Milestones –To Boldly Go Where No Man Has Gone Before    Emerging FPSO FORUM    September 22, 2011    Presentation by...
FPSO by Region35               Western Europe               North America30               Middle East               Latin ...
FPS By Type45                TLP                                                                                          ...
FPSO Construction Type       Newbuilds         38%                                             Conversions                ...
FPSO Ownership       Operator        Owned                                  Contractor         43%                        ...
Leased FPSO Market Share by OwnerOwners with >1 Unit                                     3%    3%                         ...
Forecasted Off Contract FPS Leased Fleet Availabilityby Type and Year Current-2014 (Likely to be retired and EWT excluded)...
San Jacinto                                                                Page 8              ©2011 Endeavor Management. ...
San Jacinto Technical DataOperator, Field, Location   Conoco - Kepiting, Ikan Pari, Sembilang - IndonesiaDate Built / Conv...
Seillean (BP SWOPS)                                                                Page 10              ©2011 Endeavor Man...
Seillean Technical DataOperator, Field, Location   BP, North Sea Petrobras, Deepwater EWT, BrazilDate Built / Converted   ...
Ocean Producer                                                               Page 12             ©2011 Endeavor Management...
Ocean Producer Technical DataOperator, Field, Location   Amoco, Gabon Sonangol - Kiabo, Canuku - AngolaDate Built / Conver...
BW Athena                                                              Page 14            ©2011 Endeavor Management. All R...
BW Athena Technical DataOperator, Field, Location   Ithica Energy, Athena, UK, BW OffshoreDate Built / Converted      1994...
Zafiro Producer– Phase 1                                                                 Page 16               ©2011 Endea...
Zafiro Producer Technical DataOperator, Field, Location   ExxonMobil, Zafiro Block B, Equatorial GuineaDate Built / Conver...
Zafiro Producer                                                                    Page 18                  ©2011 Endeavor...
Zafiro Producer – Phase 2 A, B and C                                                                 Page 19              ...
Zafiro Producer                                                                    Page 20                  ©2011 Endeavor...
Zafiro Producer Technical DataOperator, Field, Location   ExxonMobil, Zafiro Block B, Equatorial GuineaDate Built / Conver...
ORCA                                                         Page 22       ©2011 Endeavor Management. All Rights Reserved.
ORCA                                                         Page 23       ©2011 Endeavor Management. All Rights Reserved.
ORCA Technical DataOperator, Field, Location   PetroSA, Oribi, South AfricaDate Built / Converted      1970 Halifax Canada...
Sevan Piranema                                                               Page 25             ©2011 Endeavor Management...
Sevan Piranema Technical DataOperator, Field, Location   Petrobras, Piranema, BrazilDate Built / Converted      2007      ...
Dynamic Producer                                                              Page 27            ©2011 Endeavor Management...
Dynamic Producer Technical DataOperator, Field, Location   Petrobras, Carioca, BrazilDate Built / Converted      1987/2009...
Azurite - FDPSO                                                                    Page 29                  ©2011 Endeavor...
Azurite Graphic - FDPSO                                                                 Page 30               ©2011 Endeav...
Azurite Technical DataOperator, Field, Location   Murphy, Azurite, Republic of the CongoDate Built / Converted      1998 /...
BW Pioneer                                                               Page 32             ©2011 Endeavor Management. Al...
BW Pioneer                                                               Page 33             ©2011 Endeavor Management. Al...
BW Pioneer Technical DataOperator, Field, Location   Petrobras Cascade Chinook, US GOMDate Built / Converted      1992 / 2...
Conclusions• FPSO’s come in many shapes and sizes• FPSO’s can support marginal projects as well as large  projects• Benefi...
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  1. 1. FPSO Milestones –To Boldly Go Where No Man Has Gone Before Emerging FPSO FORUM September 22, 2011 Presentation by: Bruce Crager envision • engage • energize • enable CONTACT: Endeavor Management 2700 Post Oak Blvd., Suite 1400 Houston, TX 77056 713 877-8130 (office)
  2. 2. FPSO by Region35 Western Europe North America30 Middle East Latin America25 Eastern Europe & FSU Australasia20 Asia Africa151050 1975 1979 1983 1987 1991 1995 1999 2003 2007 2011 2015 Source: Douglas-Westwood Page 2 ©2011 Endeavor Management. All Rights Reserved.
  3. 3. FPS By Type45 TLP 100% Spar40 FPSS 90% FPSO 80%35 Linear (FPSO (% of total)) 70%30 60%25 50%20 40%15 30%10 20% 5 10% 0 0% 1975 1979 1983 1987 1991 1995 1999 2003 2007 2011 2015 Source: Douglas-Westwood Page 3 ©2011 Endeavor Management. All Rights Reserved.
  4. 4. FPSO Construction Type Newbuilds 38% Conversions 62% Page 4 ©2011 Endeavor Management. All Rights Reserved.
  5. 5. FPSO Ownership Operator Owned Contractor 43% Owned 57% Page 5 ©2011 Endeavor Management. All Rights Reserved.
  6. 6. Leased FPSO Market Share by OwnerOwners with >1 Unit 3% 3% 3% 3% 18% MODEC 3% SBM 4% BW Offshore Prosafe Production 5% Bluew ater Offshore Sevan Marine Teekay 5% Fred Olsen Production 18% Aker Floating Production 5% Bum i Arm ada Maersk MISC Sea Production 9% Tanker Pacific 11% 10% Includes JV Shares Source: Quest Page 6 ©2011 Endeavor Management. All Rights Working Q4 2010.xls Source file: FPS Lease Expirations_ Reserved.
  7. 7. Forecasted Off Contract FPS Leased Fleet Availabilityby Type and Year Current-2014 (Likely to be retired and EWT excluded) 10 9 8 7 Number of Units 6 5 4 3 2 1 0 Current 2011 2012 2013 2014 Available Year Source: Quest FPSO Page 7 ©2011 Endeavor Management. All Rights Working Q4 2010.xls Source file: FPS Lease Expirations_ Reserved.
  8. 8. San Jacinto Page 8 ©2011 Endeavor Management. All Rights Reserved.
  9. 9. San Jacinto Technical DataOperator, Field, Location Conoco - Kepiting, Ikan Pari, Sembilang - IndonesiaDate Built / Converted 1986 Built / 1994 Upgraded ? Owner Coldstacked Operating 91 meters, Water Depth Sembilang Number of 3 Locations Max Liquid 11,000 bpd Handling Oil Storage 53,000 bbls Capacity Mooring System 8 Point Spread Type Page 9 ©2011 Endeavor Management. All Rights Reserved.
  10. 10. Seillean (BP SWOPS) Page 10 ©2011 Endeavor Management. All Rights Reserved.
  11. 11. Seillean Technical DataOperator, Field, Location BP, North Sea Petrobras, Deepwater EWT, BrazilDate Built / Converted 1990 FPSV / 1998 FPSO Owner Noble Drilling Operating 2,000 meters Max Water Depth Number of Multiple Locations Max Liquid 20,000 bpd Handling Oil Storage 300,000 barrels Capacity Mooring System Dynamic Type Positioning Page 11 ©2011 Endeavor Management. All Rights Reserved.
  12. 12. Ocean Producer Page 12 ©2011 Endeavor Management. All Rights Reserved.
  13. 13. Ocean Producer Technical DataOperator, Field, Location Amoco, Gabon Sonangol - Kiabo, Canuku - AngolaDate Built / Converted 1969 / 1991 Oceaneering Owner Scrapped 2010 Operating 15m – 53m Water Depth Number of 3 Locations Max Liquid 25,000 bpd Handling Oil Storage 510,000 bbls Capacity Disconnectable Mooring System 6 Point Spread / Type 8 Point Spread Page 13 ©2011 Endeavor Management. All Rights Reserved.
  14. 14. BW Athena Page 14 ©2011 Endeavor Management. All Rights Reserved.
  15. 15. BW Athena Technical DataOperator, Field, Location Ithica Energy, Athena, UK, BW OffshoreDate Built / Converted 1994 BWT / 1999 FPSO Owner BW Offshore Operating 20 meter min. Water Depth Number of Multiple Locations Max Liquid 40,000 BPD Handling Oil Storage 50,000 Barrels Capacity Mooring System Dynamic Type Positioning Page 15 ©2011 Endeavor Management. All Rights Reserved.
  16. 16. Zafiro Producer– Phase 1 Page 16 ©2011 Endeavor Management. All Rights Reserved.
  17. 17. Zafiro Producer Technical DataOperator, Field, Location ExxonMobil, Zafiro Block B, Equatorial GuineaDate Built / Converted 1973 / 1996 Owner ExxonMobil Operating 180 meters Water Depth Number of 1 Locations Max Liquid 80,000 BOPD Handling Oil Storage 1.9 Million Barrels Capacity Mooring System 12 Point Spread Type Page 17 ©2011 Endeavor Management. All Rights Reserved.
  18. 18. Zafiro Producer Page 18 ©2011 Endeavor Management. All Rights Reserved.
  19. 19. Zafiro Producer – Phase 2 A, B and C Page 19 ©2011 Endeavor Management. All Rights Reserved.
  20. 20. Zafiro Producer Page 20 ©2011 Endeavor Management. All Rights Reserved.
  21. 21. Zafiro Producer Technical DataOperator, Field, Location ExxonMobil, Zafiro Block B, Equatorial GuineaDate Built / Converted 1973 / 1996, Upgraded 1997 -1998 in field to FPU Upgrades Waterflood 120,000 BWPD 2@ 60,000 Slug Catchers BWPD each Power 12 MW Compression 15,000 HP 58 Person Accommodations Additional Replaced in field Hull SteelOwner: ExxonMobil 200 Tons Increased Life From 5 – 15 yrs. Page 21 ©2011 Endeavor Management. All Rights Reserved.
  22. 22. ORCA Page 22 ©2011 Endeavor Management. All Rights Reserved.
  23. 23. ORCA Page 23 ©2011 Endeavor Management. All Rights Reserved.
  24. 24. ORCA Technical DataOperator, Field, Location PetroSA, Oribi, South AfricaDate Built / Converted 1970 Halifax Canada / 1997 Conversion Owner PetroSA Operating 120 meters Water Depth Number of 1 Locations Max Liquid 30,000 BOPD Handling Oil Storage 34,000 Barrels Capacity Mooring System 9 Point Spread Type Page 24 ©2011 Endeavor Management. All Rights Reserved.
  25. 25. Sevan Piranema Page 25 ©2011 Endeavor Management. All Rights Reserved.
  26. 26. Sevan Piranema Technical DataOperator, Field, Location Petrobras, Piranema, BrazilDate Built / Converted 2007 Owner Sevan Marine Operating 1,090 meters Water Depth (1,600 - Phase 2) Number of 1 Locations Max Liquid 30 MBOPD Handling Oil Storage 250 MBBLs Capacity Mooring System 9 Point Spread Type Page 26 ©2011 Endeavor Management. All Rights Reserved.
  27. 27. Dynamic Producer Page 27 ©2011 Endeavor Management. All Rights Reserved.
  28. 28. Dynamic Producer Technical DataOperator, Field, Location Petrobras, Carioca, BrazilDate Built / Converted 1987/2009 Owner Petroserv Operating 200-2,500 meters Water Depth Number of Multiple Locations Liquid Handling 30,000 bpd Capacity Oil Storage 300,000 barrels Capacity Mooring System Dynamic Type Positioning Page 28 ©2011 Endeavor Management. All Rights Reserved.
  29. 29. Azurite - FDPSO Page 29 ©2011 Endeavor Management. All Rights Reserved.
  30. 30. Azurite Graphic - FDPSO Page 30 ©2011 Endeavor Management. All Rights Reserved.
  31. 31. Azurite Technical DataOperator, Field, Location Murphy, Azurite, Republic of the CongoDate Built / Converted 1998 / 2009 Owner BW Offshore Operating 1,400 meters Water Depth Number of 1 Locations Max Liquid 60,000 BOPD Handling Oil Storage 1.3 MBBLs Capacity Mooring System Spread Type Page 31 ©2011 Endeavor Management. All Rights Reserved.
  32. 32. BW Pioneer Page 32 ©2011 Endeavor Management. All Rights Reserved.
  33. 33. BW Pioneer Page 33 ©2011 Endeavor Management. All Rights Reserved.
  34. 34. BW Pioneer Technical DataOperator, Field, Location Petrobras Cascade Chinook, US GOMDate Built / Converted 1992 / 2010 Converted Owner BW Offshore Operating 2,600 meters Water Depth Number of 1 Locations Max Liquid 80 MBOPD Handling Oil Storage 600 MBBLs Capacity Mooring System 10 Leg Spread Type Page 34 ©2011 Endeavor Management. All Rights Reserved.
  35. 35. 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 Page 35 ©2011 Endeavor Management. All Rights Reserved.
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