FLNG

Floating Production Systems
The Industrys Best Solution for the Future

Presented by Bruce Crager
Image Source: McDermott Engineering
Rice Global Engineering & Construction Forum

November
8, 2013
PAGE 1
Source: FMC Technologies
Endeavor Management 2013
1 Deepwater
1.
Deep ater drilling began long before wee had prod
production
ction capabilit
capability
2. Time and depth gap between drilling and production is closing
3 10,000
3.
10 000 has
h been
b
the
th water
t ddepth
th th
threshold
h ld ffor almost
l
t 10 years
Source: Mustang Engineering
PAGE 2
Issues Driving Use of Mobile Offshore

P d ti S
Production
Systems
t
(MOPS)
(MOPS):
Geographical Location
Water Depth and Environmental Regime
Wellhead Location (Surface,
(S f
Subsea
S
or both))
Drilling/Workover Requirements
Oil Export Options (Need Storage? )
Gas Usage / Export Options
Size and Weight of Process System (Primary Function)
Fabrication (Local Content)
.
PAGE 3
Mobile Offshore Production Systems (MOPS): Principal Types

SUBSEA
WELLHEADS
SEMISUBMERSIBLE
FPS
PAGE 4
MONOHULL
FPSO
SURFACE
WELLHEADS
JACKUP
JPU
TLP
SPAR
PRODUCTION SYSTEM TYPES

Solutions for Recovery of Offshore Oil & Gas
COURTESY OF: MUSTANG ENGINEERING
Three System Groups:
PAGE 5
Source: Mustang Engineering
1.
Dry Tree Systems Fixed Platform, Production Jackup, Compliant Tower, TLP, Spar
2.
Wet Tree Systems New Gen. TLPs, Conventional TLPs, FPSOs, Cell Spar, Control Buoy, SS
Tiebacks Semi-FPS
Tiebacks,
3.
Mixed Dry / Wet Tree Systems Fixed Platforms, New Gen. TLP, Conventional TLP, Spar
Jackup Production Unit (JPU) or MOPU

Operating:
40
First:
1971, Gulftide, Ekofisk
Deepest:
Harding, UK, 400 ft
Depth Range:
43 ft 400 ft
Construction:
Co
st uct o
Locations:
Worldwide
PAGE 6
FPS Floating Production System (Semi)

Operating :
43
First:
1975 Argyll
1975,
Argyll, Hamilton
Deepest:
7,920 ft, MC920

Independence Hub
Construction:
Co
st uct o
Locations:
Worldwide
PAGE 7
FPSO- Floating Production Storage & Offloading

FPSO
Operating :
165
Fi t
First:
1977 Castellon,
1977,
C t ll Sh
Shellll
Deepest:
8,200 ft, Cascade Chinook
Construction:
44
Locations:
Worldwide
PAGE 8
ROSEBANK FPSO
SOURCE: UT3
SOURCE: UT3
PAGE 9
TLP- Tension Leg Platform

TLP
Operating :
22
First:
1984, Hutton, Conoco
Deepest:
4,674 ft., Magnolia

GB783/84
Construction:
Locations:
North Sea, Angola, Brazil,

Gulf of Mexico, Indonesia
and Equatorial Guinea
.
PAGE 10
SPAR
Operating :
19
First:
1996, Neptune, VK 826
Deepest:
Perdido 8,008 ft
Alaminos Canyon 857
Construction:
Locations:
Gulf of Mexico, Malaysia,

Norway (future)
PAGE 11
Optimum Application Ranges

50,000
Spar
p
Facility Payload (st)

F
Spars
Semis
40,000
TLP
Semi
30,000
TLP
20,000
10,000
0
0
2,000
4,000
6,000
8,000
10,000
Water Depth (ft)

S
Source:
FloaTEC
C
PAGE 12
FPS By Type
TLP
Spar
FPSS
FPSO
Linear (FPSO (% of total))
45
40
35
100%
90%
80%
70%
30
60%
25
50%
20
40%
15
30%
10
20%
10%
0%
1975
1979
1983
1987
1991
1995
1999
2003
2007
2011
2015
Source: Douglas-Westwood
PAGE 13
Worldwide FPS Forecast Awards 2004 2017 (e)

B Award
By
A d Status
St t (Mean
(M
Case)
C )
35
Numb
ber of FPS Unitts
30
25
20
15
10
5
0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Hull Award Year

Awarded
Unawarded
High Case
Base Case
Source: Quest Offshore Resources, Inc.
PAGE 14
Worldwide FPS Awards 2004 2017 (e)

(M
(Mean
C
Case))
B FPS TType
By
30
Num
mber of FPS Unitts
25
20
15
10
0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Hull Award Year

TLP
FLNG
Spar
FPS-Semi
FPSO
PAGE 15
2017
Worldwide Forecast FPS Spending by Year

Type Contribution Thousands of US Dollars by FPS Award Year
$30,000,000
Thousan
nds of US Dollars
s
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Hull Award Year

FPSO
FPS-Semi
Spar
FLNG
TLP
PAGE 16
2016
2017
Forecasted Off Contract FPS Leased Fleet Availability

By Year Current -2020 (Likely to be retired and EWT excluded)
14
Num
mberofUniits
12
10
8
6
4
2
0
2013
2014
2015
2016
2017
2018
2019
2020
Year
PAGE 17
Floater Projects Planned or Under Study = 248

72 Floater Projects are in Bidding
and Final Design Stage
(as of March 2013)
176 Floater Projects

j
are in the
Planning or Study Stage
(as of March 2013)
49
36
24
21
12
17
9
12
7
10
Source: www.imastudies.com
PAGE 18
Growth of Floating Production,

Storage and Offloading Systems (FPSO)
FPSOs were originally considered an economical solution for the
production of marginal fields that otherwise might not be produced.
Later, FPSOs became an essential component in developing
remote offshore fields as Early Production Systems (EPS) with
increasing production capacity, numbers of risers, and ever
i
increasing
i water ddepths
h which
hi h now allow
ll their
h i utilization
ili i as ffullll
field production facilities.
PAGE 19
FPSO Surveyy Results

Gulf Research Panel--Joint venture of Gulf Publishing
g and Gelb
Consulting:
Opt-in database of 45,000+ World Oil and Hydrocarbon
P
Processing
i readers
d usedd exclusively
l i l ffor iindustry
d t surveys
Since 2001, annual multi-client surveys on marketing
effectiveness, brand equity, technology needs and HR issues in
the oil and gas industry (upstream and downstream)
Respondents to this survey have current and/or recent
experience
i
iin FPSO projects
j t
125 qualified respondents out of 27,000 surveys
Margin
g of error +/- 8.74%
PAGE 20
How many FPSOs have you been involved with

i your career??
in
More than 5
23%
44-55
14%
2-3
40%
1
0
23%
0%
Percentage of total respondents
n = 125
PAGE 21
What is the nature of the biggest challenge we

are ffacing
i today
t d in
i our FPSO IIndustry?
d t ?
Technical challenges
26%
Project execution
24%
Cost overruns
22%
Schedule issues
Financing capacity
19%
9%
n = 125
PAGE 22
What do you see as the main driver for use of

an FPSO?
Fl ibilit
Flexibility
30%
Time to first oil
19%
Reservoir / production uncertainty
19%
Storage
17%
Cost
Re-deployment
10%
6%

n = 125
PAGE 23
Given the gap between demand for FPSO from the Oil
companies and supply capacity from the FPSO Contractors,
which party shall mostly provide for the missing FPSOs?
O companies themselves
Oil
37%
New comers FPSO Contractors
28%
Large Engineering/Project Contractors
19%
Shipyards
14%
Re-deployment
Other
6%
2%

n = 125
PAGE 24
FPSO Construction Type
PAGE 25
Worldwide FPSO New Build vs. Conversion

2000 to 2017 (e) (Mean Case)
20
18
16
Number of FPS Units
14
12
10
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Hull Award Year

Newbuild
PAGE 26
Conversion
2017
Where do you feel the FPSO market is heading

i tterms off hhullll fforms??
in
New purpose-built hulls
46%
Conversion of existing hulls
Re-deployment of existing FPSOs
39%
14%
n = 125
PAGE 27
Converted hull versus new-build FPSO: What

will
ill be
b the
th ratio
ti 10 years from
f
now??
In the range of 30% converted hull / 70% new
build
41%
In the range of 70% converted hull / 30% new

build
28%
50% converted hull / 50% new build
No Opinion
24%
7%

n = 125
PAGE 28
FPSO Ownership
PAGE 29
FPSO Owners ((Three or More Units))
Source: www.imastudies.com
PAGE 30
Leased FPSO Market Share by Owner
PAGE 31
Do you expect new build FPSOs to be:

Ordered for a leased project and
owned by an FPSO leasing company
51%
Ordered for a project and owned by

the Operator
p
after beingg built
Built initially on speculation
44%
5%

n = 125
PAGE 32
Worldwide FPS Top Operators

2008 to 2017 Top 14 Operators
30
25
Num
mber of FPS Units
20
15
10
2008-2012
2013-2017
PAGE 33
Do you expect New Build Projects to be:

The topsides were built at another
location (s) from the hull
46%
The topsides and hull were built in the

same yard
The integration was done at a third
location from the hull and topsides
30%
24%

n = 125
PAGE 34
The ratio of global Spread moored versus Turret

mooredd FPSO is
i increasing,
i
i why?
h ?
Larger number of FPSO installed in
benign waters
Larger number of risers
Swivels challenges in terms of
ppressure,, flow rate
Changes in Oil Companies philosophy
22%
20%
18%
14%
All of the above
38%

n = 125
PAGE 35
What do you think is the most important factor in

d i i andd operating
designing
ti an offloading
ffl di system?
t ?
Marine safety policy of the operating oil
company on the development
Economics
Use of dynamic positioned tankers, as

is common with "shuttle tankers"
40%
33%
27%

n = 125
PAGE 36
Where do yyou feel the market is in terms of pplayers?

y
New entrants welcome
49%
More consolidation needed
Too many players
38%
14%
n = 125
PAGE 37
Worldwide FPSO Awards 2004 2017 (e)
(M
(Mean
C
Case))
30
Number of FPS U
Units
25
20
15
10
0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Hull Award Year

South America
North Sea/Arctic
North America
Asia Pacific/Middle East
Africa/Medit.
PAGE 38
Are you currently working on a new FPSO

project
j t and,
d if so, ffor what
h t geographic
hi area??
I am nott working
ki on a new FPSO
36%
Asia Pacific (including Australia)
17%
South America
16%
West Africa
14%
North Sea
7%
Other area
5%
Gulf of Mexico
5%

n = 125
PAGE 39
Are all FPSOs

FPSO s Shipshaped ?
PAGE 40
Sevan Piranema Technical Data

Operator, Field, Location
Petrobras, Piranema, Brazil
Date Built / Converted
2007
PAGE 41
Owner
Sevan Marine
Operating Water
Depth
1,090 meters (1,600

- Phase 2)
Number of
Locations
Max Liquid
Handlingg
30 MBOPD
Oil Storage
Capacity
250 MBBLs
Mooring System
Type
9 Point Spread
Azurite Graphic
p - FDPSO
PAGE 42
San Jacinto Technical Data

Conoco - Kepiting, Ikan Pari, Sembilang - Indonesia
1986 Built / 1994 Upgraded
PAGE 43
Owner
?
Coldstacked
Operating Water
Depth
91 meters,
Sembilang
Number of
Locations
Max Liquid
Handling
11,000 bpd
Oil Storage
Capacity
53,000 bbls
Mooring System
Type
8 Point Spread
Zafiro Producer Technical Data

ExxonMobil, Zafiro Block B, Equatorial Guinea
1973 / 1996
PAGE 44
Owner
ExxonMobil
Operating Water
Depth
180 meters
Number of
Locations
Max Liquid
Handling
80,000 BOPD
Oil Storage
Capacity
1.9 Million Barrels
Mooring System
Type
12 Point Spread
Zafiro Producer
PAGE 45
ORCA
ORIBI Development
ORCA Fl
Floating
ti
Production Facility
Knock Dee
Calm Buoy
E-BT1
E-BT01P
E BT5
E-BT5
PAGE 46
ORCA Technical Data

PetroSA, Oribi, South Africa
1970 Halifax Canada / 1997 Conversion
PAGE 47
Owner
PetroSA
Operating Water
Depth
120 meters
Number of
Locations
Max Liquid
Handlingg
30,000 BOPD
Oil Storage
Capacity
34,000 Barrels
Mooring System
Type
9 Point Spread
Conclusions
Floating Production Systems have become THE solution for
water depths over 1000 feet and for many marginal fields
FPSOs make upp the majority
j y of the FPSs now and
forecasted for the future
Our industry continues to develop innovative solutions
Subsea production is the common method for developing
wells for FPS solutions
The size and cost of FPS units continue to grow significantly
Our industry is near full capacity and more projects are
coming
i !
.
PAGE 48
About Bruce Crager

Managing Director Offshore, Subsea and Marine
Bruce has over 38 years experience in offshore drilling and production activities, primarily in
management positions. This has included a significant amount of experience in evaluating and
providing field development solutions based on floating production systems and subsea
production equipment.
Bruce joined Endeavor in 2010 and is responsible for the development of an experienced team
to support clients in the areas of strategy development, organizational change/development,
decision analysis and in technical areas such as field development planning and operational
i
improvement.
t Since
Si
j i i Endeavor,
joining
E d
B
Bruce
h consulted
has
lt d to
t multiple
lti l clients,
li t including
i l di Addax
Add
Petroleum, Audubon Engineering, Barra Energia, Cal Dive, Cameron, ENI, Lupatech, Maersk
Oil, Pemex, Petrobras, Ridgewood Energy, T-Rex Engineering & Construction and VAALCO
Energy.
gy
Education:
Bachelor of Science Ocean Engineering,
Engineering Texas A&M University
University College Station
Station, Texas
Texas, 1975
Master of Business Administration, University of Houston Houston, Texas, 1979
PAGE 49
For more information about Endeavor

Managements
Oil and Gas practice and specifics about our
expertise in Offshore, Subsea and Marine visit:
http://endeavormgmt.com/industries/oil and gas
http://endeavormgmt.com/industries/oil-and-gas
bcrager@endeavormgmt.com
PAGE 50
Endeavor Management is a management consulting firm that

leads clients to achieve real value from their strategic
transformational initiatives. Endeavor serves as a catalyst by
providing the energy to maintain the dual perspective of
running the business while changing the business through the
application of key leadership principles and business strategy.
The firms 40 year heritage has produced a substantial portfolio
of proven methodologies, enabling Endeavor consultants to
deliver top-tier transformational strategies, operational
excellence organizational change management
excellence,
management, leadership
development and decision support. Endeavors deep
operational insight and broad industry experience enables our
team to quickly understand the dynamics of client companies
and markets.
2700 Post Oak Blvd

Galleria Tower 1, Suite 1400
Houston, TX 77056
+1 713.877.8130
713 877 8130
www.endeavormgmt.com
PAGE 51
Combined with our Gelb Consulting experience (founded in

1965) we also offer clients unique capabilities that focus their
marketing initiatives by fully understanding and shaping the
customer experience through proven strategic frameworks to
guide marketing strategies, build trusted brands, deliver
exceptional customer experiences and launch new products.
Our experienced consultants and analysts use advanced
marketing research techniques to identify customer needs and
spot high potential market opportunities.

FLNG

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Floating Production Systems

The Industrys Best Solution for the Future

Image Source: McDermott Engineering

Rice Global Engineering & Construction Forum

Source: FMC Technologies

Endeavor Management 2013

Endeavor Management 2013

Issues Driving Use of Mobile Offshore

Endeavor Management 2013

Mobile Offshore Production Systems (MOPS): Principal Types

Endeavor Management 2013

PRODUCTION SYSTEM TYPES

COURTESY OF: MUSTANG ENGINEERING

Three System Groups:

Source: Mustang Engineering

Jackup Production Unit (JPU) or MOPU

1971, Gulftide, Ekofisk

Harding, UK, 400 ft

Endeavor Management 2013

FPS Floating Production System (Semi)

7,920 ft, MC920

Endeavor Management 2013

FPSO- Floating Production Storage & Offloading

8,200 ft, Cascade Chinook

Endeavor Management 2013

Endeavor Management 2013

TLP- Tension Leg Platform

1984, Hutton, Conoco

4,674 ft., Magnolia

North Sea, Angola, Brazil,

Endeavor Management 2013

1996, Neptune, VK 826

Gulf of Mexico, Malaysia,

Endeavor Management 2013

Optimum Application Ranges

Facility Payload (st)

Water Depth (ft)

Endeavor Management 2013

Endeavor Management 2013

Worldwide FPS Forecast Awards 2004 2017 (e)

Hull Award Year

Endeavor Management 2013

Worldwide FPS Awards 2004 2017 (e)

Hull Award Year

Source: Quest Offshore Resources, Inc.

Endeavor Management 2013

Worldwide Forecast FPS Spending by Year

Hull Award Year

Endeavor Management 2013

Forecasted Off Contract FPS Leased Fleet Availability

Endeavor Management 2013

Floater Projects Planned or Under Study = 248

176 Floater Projects

Endeavor Management 2013

Growth of Floating Production,

Endeavor Management 2013

FPSO Surveyy Results

Endeavor Management 2013

How many FPSOs have you been involved with

Endeavor Management 2013

What is the nature of the biggest challenge we

Endeavor Management 2013

What do you see as the main driver for use of

Time to first oil