1. Removing 36 hours from a workover Optimising rig time using LWIV & eRED technology Presented by: Andy Skinner Date: 9 th March 2011 Slide 1

2. LWIV – up front work in advance of drilling rig 1.Conventional subsea vertical dual-bore tree 2.Install deep barrier, cut tubing and circulate to kill fluid 3.Set shallow barrier in hanger – annular string 4.Set shallow barrier c/w eRED in hanger – tubing string 5.eRED? – Electronic Remote Equalisation Device: ball type downhole barrier, remotely opened and closed up to 50 times over 6-9 months. 6.Remove tree – install debris cap 7.Return to base – tree sent for refurbishment Workover or well abandonment Slide 2

3. Drilling rig – when available move on site & pull completion 1.Remove debris cap – install BOP’s 2.Latch tubing hanger on drill pipe: no need for dual bore riser to remove hanger barriers 3.Apply pressure command to open eRED 4.Tubing & annulus now equalised 5.Close BOP rams onto drill pipe – unseat hanger 6.Vent gas cap & circulate top hole clean 7.Open BOP rams – pull completion Workover or well abandonment Slide 3

4. Value highlights LWIV & eRED 1.Reduction in intervention and exposure to weather: PCE rig up/down and pulling operations (10 hours ) 2.Remote equalisation – no intervention once eRED has opened 3.No wireline – no need to run Dual Bore Riser: riser deployment/test ( 26 hours ) 4.Completion pulled on drill pipe 5.Rig time savings in excess of 36 hours have been achieved Workover or well abandonment Slide 4

5. What’s next? If new completion is being installed 1.Drilling rig installs and tests new completion 2.Shallow & deep barriers run as part of completion – tubing mounted full bore eRED 3.Install debris cap – drilling rig moves on to next well 4.LWI moves to well site within 9 -12 months 5.Remove debris cap – install tree and test 6.Apply pressure commands to remotely open shallow & deep barriers 7.Well brought on stream with no slickline intervention Questions? Completion deployment Slide 5