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FPSO INDUSTRY FOCUS

FPSO INDUSTRY FOCUS. Setting the Scene Presentation at Intsok International Oil and Gas Business Days 2007 by Jim McCaul International Maritime Associates Washington-Houston. Presentation Will Cover. Role and growth of FPSOs FPSO order backlog

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FPSO INDUSTRY FOCUS

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  1. FPSO INDUSTRY FOCUS Setting the Scene Presentation at Intsok International Oil and Gas Business Days 2007 by Jim McCaul International Maritime Associates Washington-Houston

  2. Presentation Will Cover . . . • Role and growth of FPSOs • FPSO order backlog • Floater projects planned/under study • Projected need for additional FPSOs International Maritime Associates - 2- Website: www.imastudies.com

  3. Why FPSOs • Storage capacity – units operating range from 11,000 to 2.4 million barrel capacity; system pipeline independent • Flexible – 40 units have been redeployed more than 70 times; record is Petrojarl I used on 10 fields • Large processing capacity – mega units off WA support 250,000 b/d oil process plants • Not water depth sensitive – 17 FPSOs operating in water depth over 1000m; new unit for Brazil in 1780m • Lots of conversion hulls available – 59% of existing units, 64% of units on order use converted hulls International Maritime Associates - 3- Website: www.imastudies.com

  4. 198 Production Floaters are in Operation – Including 118 FPSOs International Maritime Associates - 4- Website: www.imastudies.com

  5. Five Regions Account for Almost 80% of FPSOs Now Operating International Maritime Associates - 5- Website: www.imastudies.com

  6. Use of FPSOs as a Production SolutionVaries by Geographical Region International Maritime Associates - 6- Website: www.imastudies.com

  7. Production Floaters Have Grown 150%Over the Past Ten Years International Maritime Associates - 7- Website: www.imastudies.com

  8. Number of FPSOs Has More Than TripledOver the Past Ten Years International Maritime Associates - 8- Website: www.imastudies.com

  9. 34 FPSOs Have Been InstalledOff West Africa Over the Past Ten Years • Region has 24% of all FPSOs • Includes 6 mega FPSOs • Units typically spread moored • 7 More units on order International Maritime Associates - 9- Website: www.imastudies.com

  10. 24 FPSOs Have Been Installed Off BrazilOver the Past Ten Years • Region has 16% of all FPSOs • Half VLCC size, 100,000 b/d+ plants • All but few turret or DICAS moored • 6 more units on order International Maritime Associates - 10- Website: www.imastudies.com

  11. 14 FPSOs Installed OffNorthern Europe Over the Past Ten Years • Region has 12% of all FPSOs • Turret moored, harsh environment units • Relatively small storage • 3 units fitted with 150,000 b/d+ plants • 4 more units on order International Maritime Associates - 11- Website: www.imastudies.com

  12. 20 FPSOs Have Been Installed Off Southeast Asia/China Over the Past Ten Years • Region has 23% of all FPSOs • Half have 50,000 b/d or less plants • Only Kikeh has 100,000 b/d+ • Turret mooring common • 8 more units on order International Maritime Associates - 12- Website: www.imastudies.com

  13. 11 FPSOs Have Been Installed Off Australia / New Zealand Over the Past Ten Years • Region has 8% of all FPSOs • Half under, half over 100,000 b/d plants • Turret mooring, quick disconnect common • 1 unit on field for 20+ years • 5 more units on order International Maritime Associates - 13- Website: www.imastudies.com

  14. Only 3 FPSOs Installed in the GOMOver the Past Ten Years • Region has 3% of all FPSOs • All on Mexican side of the GOM • 2 of the 3 are small EWT units • Recent FPSO breakthrough in US GOM • Cascade could be start of a new era International Maritime Associates - 14- Website: www.imastudies.com

  15. 70 Production Floaters are Currently On Order – Including 52 FPSOs - - - - where to be installed - - - - International Maritime Associates - 15- Website: www.imastudies.com

  16. Order Backlog for Production FloatersIs At An All Time High International Maritime Associates - 16- Website: www.imastudies.com

  17. 11 of the 52 FPSOs Now on OrderHave No Field Contract International Maritime Associates - 17- Website: www.imastudies.com

  18. More Than 40 Contractors Are Currently Fabricating or Converting Production Floaters International Maritime Associates - 18- Website: www.imastudies.com

  19. Fabrication and Conversion of Production Floaters Has Been Shifting to Asia International Maritime Associates - 19- Website: www.imastudies.com

  20. More Than 120 Floater ProjectsAre Planned or Under Study International Maritime Associates - 20- Website: www.imastudies.com

  21. We See Orders for 95 to 115 FPSOsOver the Next Five Years International Maritime Associates - 21- Website: www.imastudies.com

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