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AMEC plc – Unconventional oil & gas: Canada UBS oil sands investor trip. Peter Madden 15 June 2011. Agenda. Canadian oil sands – the market AMEC’s position AMEC’s strategy for growth. Oil sands market. Introduction. AMEC’s position. Appendix.

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agenda
Agenda
  • Canadian oil sands – the market
  • AMEC’s position
  • AMEC’s strategy for growth

Oil sands market

Introduction

AMEC’s position

Appendix

canadian oil sands the market drivers and trends
Canadian oil sands – the marketDrivers and trends
  • Massive reserve base
  • Security of supply
  • Sustainable oil price
  • Oil sands production forecast to increase to 2.9m bbl/day by 2020
    • Peak demand shifted to right post economic turmoil
  • Estimated growth rate (2010-2015) for unconventional oil & gas market is 8-10%*
    • Recognising it is a ‘project’ business with normal peaks and troughs

Oil sands capital expenditure forecast (pre and post economic turmoil)**

Market continues to grow - while timing of projects causes peaks and troughs

*AMEC estimates of market growth potential in our accessible market (CAGR 20100 – 2015), based on mid-cycle assumptions

**Source: The Oil Sands Developers Group, oil sands: growth continues, Sept 2010

Oil sands market

Introduction

AMEC’s position

Appendix

canadian oil sands the market key producers
Canadian oil sands – the marketKey producers

Oil sands main producers 2009/15E**

  • IOCs dominate (long term investment horizons)
    • Independents impacted by funding issues
  • Market attracting NOCs and international investment
  • China
  • Korea
  • France
  • Norway
  • Thailand
  • Japan

IOCs dominate – due to long term investment horizons

**Source: Oil Sands Developers Group, Jan 2011

Oil sands market

Introduction

AMEC’s position

Appendix

canadian oil sands the market drivers and trends5
Canadian oil sands – the marketDrivers and trends
  • Pipeline of oil sands projects is strong
  • Shift from mining to in situ technology
    • 80% of future production

*

Oil sands project list, May 2011

Future oil sand projects

5

30

19

4

4

8

7

3

Total number of projects

Total number of projects

AMEC is positioned for the developing portfolio

*Source: The Oil Sands Developers Group Jan 2011

Oil sands market

Introduction

AMEC’s position

Appendix

amec s position canadian oil sands
AMEC’s positionCanadian oil sands
  • Leader in mineable oil sands extraction
  • One of a number of companies with in situ expertise
  • Complemented by environmental and power services

Market position

Profile

Revenue Approx £600m* (2010)

Segment Extraction: mineable and in situ

Services Study services, engineering and procurement, project and construction management, asset management, environmental services

Clients Imperial Oil, Exxon Mobil, Shell, Syncrude, Suncor, CNRL

  • Strong mineable position - worked on all major projects since 1991
  • Primarily CAPEX services

AMEC’s differentiator is track record and engineering expertise

*AMEC’s unconventional oil and gas sector generated 20% of group revenue in 2010, and includes Canadian oil sands activity

Oil sands market

Introduction

AMEC’s position

Appendix

amec s position competitive capabilities
AMEC’s position Competitive capabilities

Strong position

Capability

Limited capability

No involvement/capability

  • Leadership position built on track record and technical skills
    • Leading position in mineable
    • In situ technology AMEC BDR
    • Complementary services a competitive advantage
  • Current customers include:
    • Imperial Oil/Exxon Mobil, Syncrude, Teck, Suncor, Connacher

AMEC

AMEC is well positioned beyond Kearl project

Source: websites

This analysis is indicative and not intended to represent the entirety of the market and AMEC's competitive position

Oil sands market

Introduction

AMEC’s position

Appendix

slide8

AMEC’s positionKearl oil sands project

Client: Imperial Oil Resources Ventures Limited

Location: Northern Alberta, Canada

Dates: 2007 – Ongoing

Capital cost: Cdn$8 billion

Commodity: Bitumen

Scope of services

  • Pre-feasibility studies, FEED package and currently detailed design (EPCM phase) for Kearl Initial Development (KID)
  • Project is scheduled to produce first oil in Q4 2012, nominally producing 110,000 bpd of partially deasphalted bitumen
  • During peak production, Kearl could ultimately produce 345,000 bpd, and the Kearl Expansion Project (KEP) is the next stage of development to realize this goal
  • AMEC has begun detailed design (engineering and procurement) on this expansion, scheduled to produce first oil in Q1 2015

Oil sands market

Introduction

AMEC’s position

Appendix

amec s position strategy for growth
AMEC’s positionStrategy for growth

Future position

  • Maintain leadership position in mineable oil sands
  • Continue to develop in situ position
  • Develop in situ portfolio to c. 30,000 bbl/day facility offering
  • Develop EPC capability (through strategic partnership with constructor)
  • Reinforce PM and CM

Strategy

Oil sands market

Introduction

AMEC’s position

Appendix

appendix biography peter madden
Appendix Biography – Peter Madden

Peter Madden

Peter Madden is President, Oil Sands for AMEC, leading a 2,000 person Engineering and Project Management business based in Calgary, Alberta. Peter has over 34 years experience in Oil and Gas, eighteen years in senior management positions, and held many senior roles in project and corporate organisation structures with legal and fiscal responsibility for the delivery of project and business targets.

As a Fellow of the Institution of Structural Engineers, his background skills were developed through structural design and analysis work in the North Sea, Middle East and Borneo working for both Contractors and Operators.

Oil sands market

Introduction

AMEC’s position

Appendix

appendix amec expertise 1991 2011
AppendixAMEC expertise 1991-2011

Involved in virtually all major projects since 1991

Syncrude Consolidated

Tailings

Connacher

Great Divide SAGD

Syncrude North

Mine Feasibility Study

Syncrude

Production Improvements

1998

2006 - 2007

2005 - Present

Suncor Extraction

Expansion

Total/Deer Creek

Joslyn SAGD

Imperial Oil

Kearl FEED/EPCM

Imperial Oil

Kearl PDM

2003 - 2004

1997

2006 - Present

Shell Jackpine Mine

Suncor Steepbank

Feasibility Study

2005 - 2006

1991

2002

1995

2011

1991

2005 - Present

1997- 2005

2004 - Present

Syncrude Aurora I/II

& South West Quadrant

Shell Albian Sands

Expansion EPCM

Total/Deer Creek

Joslyn

2003

1993

TrueNorth Energy

Fort Hills

2005 - 2006

Suncor Millennium

Relocation Study

2005 - Present

Shell Muskeg River

Production Improvement

1998

Imperial Oil WCMP

Sustaining Capital

Shell Muskeg

River Mine

1996

2003 - 2008

Suncor

Consolidated Tailings

Canadian Natural

Resources Horizon

Oil sands market

Introduction

AMEC’s position

Appendix

appendix amec mineable and in situ capability
AppendixAMEC - mineable and in situ capability

Leading market positions

  • Conventional (mineable)
    • Involved in world’s first commercial oil sands mine in 1967
    • Helped build biggest oil sands mine (Mildred Lake)
    • Worked on virtually every major mineable oil sands development since 1991
  • Non-conventional (in-situ)
    • AMEC BDR 30+ years oil sands processing experience
    • Particularly in-situ technologies and deep reserve extraction
      • steam assisted gravitational drain (SAGD)
      • cyclic steam stimulation (CSS) thermal recovery

Oil sands market

Introduction

AMEC’s position

Appendix

appendix amec scope of services
AppendixAMEC scope of services

Design, delivery & specialist consultancy across extraction and production spectrum

  • Engineering & procurement services
  • Process, ore prep and utilities are designed using state of the art systems supported by a worldwide procurement network
  • Study services
  • From mine planning and design through DBM and EDS (FEED) packages

Environmental Services

Environmental permitting, geotechnical design, waste water treatment, reclamation and tailings

  • Project & construction management
  • Construction planning from contract strategy, constructability through work packages, estimating progress and quality management at site all with an emphasis on HSSE

Asset management

Plan start-up and commissioning, operator training and in-plant engineering services

Oil sands market

Introduction

AMEC’s position

Appendix

slide15

Leveraging AMEC - common tools and processes

AppendixKearl – workshare

Imperial Oil: Kearl Project

Scope: EPCM services for Phase 1, which is designed to deliver 100,000bpd (production 2012)

3 Phases to project – facility could ultimately produce 300,000 bpd

Major AMEC Project

  • Natural Resources
  • Power & Process
  • Earth & Environmental

Involves 3 divisions

Calgary: overall project management / controls / systems

Leveraging our resources

Houston

  • Product pipelines
  • River water pipelines
  • Associated pipelines

Vancouver

  • Ore prep
  • Slurry prep
  • Hydrotransport
  • Mine Maintenance
  • Basal H2O System

Calgary

  • Extraction
  • Froth Treatment
  • Tailings
  • Civil Works
  • Buildings

Oakville

  • Steam plant
  • Water treatment facilities
  • Power

Oil sands market

Introduction

AMEC’s position

Appendix

slide16

AppendixFurther information

  • Find out more about AMEC’s oil sands position on our website:
    • Oil Sands Breakfast - Calgary (Oct 2010)
      • Note: links only active in ‘slideshow’ mode
      • For further info see: amec.com/investors/events
  • Useful sources of information on oil sands industry:
    • Alberta Oil Sands: http://www.oilsands.alberta.ca
    • Alberta Energy: http://www.energy.alberta.ca

See links for more details on AMEC’s oil sands business

Oil Sands market

Introduction

AMEC’s position

Appendix