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Osx project update agosto_final_inglês

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Osx project update agosto_final_inglês

  1. 1. Project Update August 2011
  2. 2. Açu Shipyard – Licensing • Term of Reference • EIA filling • Public Hearing • Preliminary License • Installation License • Beginning of Construction (July) 1
  3. 3. Açu Shipyard – Industrial District A new cluster for Heavy Industry 2
  4. 4. Açu Shipyard – Setup Platform Platform construction assembly area area Modules Drydock and construction area effluent station treatment Green curtain Water treatment station FPSO Industrial unit Administrative buildings Quay Administrative buildings with Electric Substation 345 kV – 13.8 kV LEED Certification (US Green Building Council) 3
  5. 5. Açu Shipyard – Advantages1. Welding economies: 18m steel plate results in 56% less welding• US$ 3.5 million savings and 28 days reduction in construction / FPSO• US$ 1.9 million savings and 24 days reduction in construction / WHP Regular Size Açu COMPARATIVO DE FABRICAÇÃO DE BLOCOS PARA DOIS TIPOS DE CHAPAS: (18m X 4m X 19,5mm) & (9m X 2,44m X 19,5mm) 20M 20M 1 2 3 4 5 6 7 8 9 9M 18M 18M 1 2 3 4 5 9M 2.4M 2.4M 2.4M 2.4M 2.4M 2.4M 2.4M 2.4M 4M 4M 4M 4M 4M WELDING LENGTH: (18M 8point) + 20m 20M = 182 M Welding length: (18m x * 9POINT) + = 164m WELDING LENGTH: 18M4point) =72m 72M Welding lenght: (18m x * 4POINT =2. Energy Savings: 30% reduction and US$ 4 million in annual savings 4
  6. 6. Açu Shipyard – Advantages3. Optimal Weather conditions: Less than 30% of rainy days per year4. Better soil: Sandy soil requires lighter foundations5. Integration Slots: Up to 3,525m of quay allowingsimultaneous integration of 9 FPSOs and the construction of8 WHPs. (6 FPSOs and 2,400m at 1st phase)6. Proximity to Campos Basin: ( ≈ 150Km)FPSO / WHP travels to Campos Basin in half a daySavings of US$ 4,0 million as compared to a site in Singapore 5
  7. 7. Açu Shipyard – Capex Preliminary Budget – US$ (MM) Total LLX OSX Common Infrastructure 448 219 229 Investigation and Engineering 31 15 16 Civil Works 416 204 212 Offshore Dredging (854k m3) 111 55 56 Onshore Dredging (13,000k m3) 41 20 21 Break Water (2,300k m3) 264 129 135 Pre eng. costs + environmental 74 - 74 Civil works 447 - 447 Onshore Dredging (10,500k m3) 90 - 90 Quay (2,270 m) 262 - 262 Back area embankment (6,000k m3) 21 - 21 Site camp facility and management 74 - 74 Shipyard structure 544 - 544 Buildings 265 - 265 Dry Dock 133 - 133 Roads and Paving 146 - 146 Equipment and others 420 - 420 Total 1,933 219 1,714 Merchant Marine Fund ≈ 80% 6
  8. 8. Current Order Book – OGX ESTIMATED CAPEX EQUIPMENT CAPACITY DELIVERY* (US$ MM) FPSO OSX-1 80K bopd 610 3Q 2011 FPSO OSX-2 100K bopd 775 2Q 2013 FPSO OSX-3 100K bopd 800 3Q 2013 FPSO OSX-4 100K bopd 850-900 2Q 2014 FPSO OSX-5 100K bopd 850-900 4Q 2014 WHP-1 30 wells 400-450 1Q 2013 WHP-2 30 wells 400-450 2Q 2013 Total 4,685 - 4,885 * delivery at the shipyard (ex installation) 7
  9. 9. FPSO OSX-1 8
  10. 10. FPSO OSX-1 – Customization MODIFICATION WORK M380 New NEW INSTALLATION M230 New M350 New M320 Mod. M200 New M260 Mod. M290 Mod. N160 Mod. N130 Mod. Hull / Engine Room Mod. F110 Mod. Central Pipe Rack Mod. M430 Mod. M400 Mod. M310 New M280 Mod. M250 New M220 Mod. W140 Mod. 9
  11. 11. FPSO OSX-1 – Project Progress 10
  12. 12. FPSO OSX-1 – Project Progress • FPSO – MECHANICAL COMPLETION AND COMISSIONING: 30TH OF JULY • TURRET – INSTAND-BY AT INDONESIA. • COMPONENTS OF THE MOORING SYSTEM – STORED IN BRAZIL. 11
  13. 13. FPSO OSX-1 – Project Progress Delivery Progress & Timeline FPSO OSX 1 100% 95% 90% Purchase 85% 80% First Oil 75% Delivery in 70% Singapore 65% 60% Planned Actual MAR/11 APR/11 MAY/11 JUN/11 PLANNED 84.81% 86.90% 90.38% 95.85% ACTUAL 84.47% 86.96% 89.90% 92.43% 12
  14. 14. FPSO OSX-1 – Hire of Personnel On-Track Percentage of Workers Hired 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% % Planned % Actual No. of employees MAR/11 APR/11 MAY/11 JUN/11 PLANNED 58 79 79 86 ACTUAL 61 73 74 77 13
  15. 15. FPSO OSX-1 – Personnel Experience Age Experience Time 4% 14% 20 to 30 years 19% Less than 20 years 30 to 40 years 28% 49% 20 to 30 years 40 to 50 years 26% Greater than or equal to 50 to 60 years 30 years 32% Greater than or equal to 60 years 28% 14
  16. 16. OSX-2 / WHP-1 System 15
  17. 17. OSX-2 / WHP-1 System WHP 1 OSX 2 16
  18. 18. OSX-2 / WHP-1 System OSX 2 WHP 1 Expected Timeline Status Expected Timeline Status GTD GTD RFP RFP Delivery at shipyard* 2Q13 Delivery at shipyard* 1Q13 * ex-installation * ex-installation Construction Contract Construction Contract • EPCIC (Engineering, Procurement, • EPCIC (Engineering, Procurement, Construction, Installation and Construction, Installation and Commissioning) contract executed with Commissioning) contract executed with SBM Offshore TechintLong term debt commitment Drilling Package• Proposals with 100% underwriting • Ongoing tender• Mandated and with negotiated term sheet • Initial proposals received on• Debt/Equity Structure – 80/20 December 8th, 2010 from AKER, NOV, TTS and SEAWELL 17
  19. 19. OSX-3 / WHP-2 System 18
  20. 20. OSX-3 / WHP-2 System WHP 2 OSX 3 19
  21. 21. OSX-3 / WHP-2 System OSX 3 WHP 2 Expected Timeline Status Expected Timeline Status GTD GTD RFP RFP Delivery at shipyard* 3Q13 Delivery at shipyard* 2Q13 * ex-installation * ex-installation Construction Contract Contrato de Construção • EPCIC (Engineering, Procurement, • EPCIC (Engineering, Procurement, Construction, Installation and Construction, Installation and Commissioning) contract executed with Commissioning) contract executed with Modec Techint Drilling Package • Ongoing tender • Initial proposals received on December 8th, 2010 from AKER, NOV, TTS and SEAWELL 20
  22. 22. FPSOs OSX-4 and OSX-5 21
  23. 23. FPSOs OSX-4 and OSX-5 Gemini Star Suhail Star• Two sister VLCC´s (Very Large Crude Oil Carriers) purchased inNovember 2010• Purchase price: US$ 27 MM each• VLCC Gemini Star received on January 13th, 2011 and VLCCSuhail Star received on February 22nd, 2011• Purchased from Vela International Marine Limited (subsidiary ofSaudi Aramco)• Engineering for conversion and integration under biddingprocess• Delivery ex-installation scheduled for 2Q14 and 4Q14,respectively 22

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