1. Floating Production Systems
Presentation at
Tulane Energy Week 2010
Jim McCaul – IMA

2. Outline of Presentation
Overview of FPS Technology
Current FPS Situation
FPS Projects Being Planned
Forecast of FPS Orders
International Maritime Associates

3. Four Basic FPS Solutions
FPSO
Production Semi
Tension Leg Platform
Production Spar
International Maritime Associates

4. FPSO Weathervaning Spread Moored
Serpentina FPSO
Pazflor FPSO
International Maritime Associates

5. FPSO PRO Has field storage and can be used in remote locations.
Can operate on shallow or ultra-deepwater fields.
Less weight sensitive than other types of FPSs.
Leasing transfers some risk from field operator to contractor.
Assumed residual value a competitive tool in leasing bids.
Deck area allows flexibility in process plant layout.
Surplus/aging tankers can be used for conversion.
Can be modified/redeployed following field depletion.
Quick disconnect turrets enable emergency relocation.
CON
Subsea tiebacks create higher well maintenance costs.
Turret/swivel machinery expensive, high maintenance.
Redeploying an FPSO not as easy as it may appear.
International Maritime Associates

6. Production Semi
PRO
Relatively wide deck space provides good layout footprint for process plant.
Can support large number of risers.
Has relatively little surface motion.
Water depth not a limitation.
CON
No storage – requires either an FSO or pipeline offtake.
Hull weight carrying capacity imposes limitations on deckload.
Deck space more limited than large FPSO.
Dry tree designs developed, but to date wet trees utilized with production semis.
P-51 Production Semi
International Maritime Associates

7. Tension Leg Platform PRO
Surface motion limited by tendon tension, providing stable platform for dry trees.
CON
Tendon weight grows with water depth and increasingly restricts deck payload capacity.
Deepest TLP water depth to date has been Magnolia, in 1430 meters water.
TLPs are inherently unstable and will capsize if tendons fail.
ETLP
Moses TLP
Sea Star TLP
International Maritime Associates

8. Production Spar PRO Can accommodate dry trees.
Water depth does not seem to be a limitation – Perdido Host spar is in water depth of 2400 meters.
Spars can provide storage but to date no spar has been used in this capacity.
Inherently stable, will remain upright if moorings fail.
CON
Need to utilize heavy lift or floatover for hull/topsides mating – an expensive proposition.
Kikeh Spar
International Maritime Associates

9. Optimum Application Range
Source: FloaTEC, Review of Deepwater Floating Structures and Dry Tree Semi Developments, November 2006
International Maritime Associates

10. FPS Units in Operation (as of July 2010)
22 tension leg platforms
43 production semis
152 FPSOs
18 production spars
8 production barges
5 FSRUs
95 FSOs
International Maritime Associates

11. Where FPSs are Operating (as of July 2010)
International Maritime Associates

12. FPSs Being Built/Converted (as of July 2010)
39 FPSOs (16 new, 23 conversions)
4 production semis (new)
1 TLP (new)
1 FSRU (conversion)
4 FLNGs (new)
3 MOPUs (2 new, 1 conversion)
2 FSOs (1 new, 1 conversion)
International Maritime Associates

13. Where FPSs Are Being Built (as of July 2010)
International Maritime Associates

14. FPS Construction Has Shifted to Asia (number of facilities involved in FPS construction/conversion)
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15. Where FPSs Will Be Installed (as of July 2010)
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16. Trend in FPS Order Backlog
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17. FPS Projects Planned/Under Study (as of July 2010)
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18. Forecast of FPSO Orders Over the Next Five Years
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19. Forecast of Production Semi Orders Over the Next Five Years
International Maritime Associates

20. Forecast of TLP Orders Over the Next Five Years
International Maritime Associates

21. Forecast of Production Spar Orders Over the Next Five Years
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22. Forecast of FSO Orders Over the Next Five Years
International Maritime Associates

23. Summary Forecast of FPS Orders Over the Next Five Years
Most Likely Scenario
Scenario 1 $50-70 Oil
Scenario 2 ~$80 Oil
Scenario 3 $ Oil
Type FPSO
No. Units
Total Capex
(bil of $)
Production Floaters
FPSOs 95
$56.6
120
$67.1
150
$81.8
Semis 10
$5.6 12
$6.1 14
$6.7
TLPs 3
$2.2 4
$3.2 5
$3.8
Spars
$1.5
$1.8
$2.1
All production floaters
111
$65.9
140
$78.2
174
$94.4
Storage Floaters
FSOs 25
$2.6 30 35
$3.7
Total Market
136
$68.5
170
$81.4
209
$98.1
International Maritime Associates

24. International Maritime Associates, Inc. Website: www.imastudies.com
th Street, NW — Suite 350
Washington, DC USA
Tel: (Washington)
Tel: (Houston)
Fax:
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