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Floating
Production Systems
 March
2007 Report
I.
CURRENT AND PLANNED FLOATING PRODUCTION SYSTEMS 1. Overview of the Floater Business
Sector Recent Orders, Deliveries and Relocations
What's Now Being Built
Current Fabrication and Conversion
Activity Floaters Planned or Under Study
2. Details for Floaters in Operation, On Order or Planned
Inventory of Floating Production
Systems Inventory of Floating Storage/Offloading
Systems Production and Storage Systems
Installed Over the Past Ten Years Floaters Now on Order
Floating Production Projects
Planned or Under Study
1. Projects in the Planning Stage Block 32 (Angola) Clov (Angola) Block 14 (Angola) Etan (Nigeria) Egina (Nigeria) Bobo (Nigeria) Bonga Southwest (Nigeria) Obo (Nigeria-San Tome JDZ) Browse (Australia) GTM Floater (Australia) Tupi (Brazil) Caxareu (Brazil) Kaskida (Gulf of Mexico) Tubular Bells (Gulf of Mexico) Knotty Head (Gulf of Mexico) Perdido South (Gulf of Mexico) Stones (Gulf of Mexico) Laggan (U.K.) Acorn/Beechnut (U.K.) Milburn/Selkirk (U.K.) Golden Eagle (U.K.) Kraken (U.K.) Nucula (Norway) Port Qasim (Pakistan) Hai Su Trang (Vietnam) Bumerah (Indonesia) Dua/Blackbird (Vietnam) 2. Projects in the Final Design or Bidding Stage Block 31 (Angola) Usan (Nigeria) Pazflor (Angola) Okoro (Nigeria) Kole (Cameroon) BMG (Australia) Crux (Australia) Ichthys (Australia) Jubarte P 57 (Brazil) Roncador P 55 (Brazil) BS-4 NE (Brazil) Opportunity Gas 2 (Brazil) Papa Terra (Brazil) Deep Panuke (Canada) Cascade/Chinook (Gulf of Mexico) Gotcha (Gulf of Mexico) Snohvit Oil (Norway) Wei (China) South Pars Oil Layer (Iran) Soroosh/Norwuz (Iran) Bunga Orkid Pakma (Malaysia) Malampaya Oil Rim (Philippines) Ruby (Vietnam) Song Doc (Vietnam) 3. New Orders Olowi FPSO vessel (Gabon) Opportunity Oil FPSO vessel (Brazil) Opportunity Gas 1 FPSO vessel (Brazil) Peregrino FPSO vessel (Brazil) Skarv FPSO vessel (Norway) Yurri Korchagin FSO vessel (Russia) AGR/Helix Spec FPSO vessel (Southeast Asia) Gumusut production semi (Malaysia) Galoc FPSO vessel (Philippines) Su Tu Vang FSO vessel (Vietnam) Nortechs Spec 2 FPSO vessel PetroProd Spec FPSO vessel Sevan 300 speculative FPSO vessel Sevan 650 speculative FPSO vessel Oyong production barge (Indonesia) Dragon FSO vessel (Vietnam) Yme MOPU/storage unit (Norway) 5. Systems On Order Montara FPSO vessel (Australia) Maari FPSO vessel (New Zealand) Helix Producer I FPU (Gulf of Mexico) Ettrick FPSO vessel (U.K.) Chestnut FPSO vessel (U.K.) Gjoa production semi (Norway) Thunder Hawk production semi (Gulf of Mexico) MA FPSO vessel (India) Shelley FPSO vessel (U.K.) Pilot FPSO vessel (U.K.) Nexus speculative FPSO vessel MPF 1000 FDPSO vessel (speculative) 6. Systems Recently Completed Espadarte Sul FPSO (Brazil) Polvo FPSO vessel (Brazil) PRA-1 FSO vessel (Brazil)
Piranema FPSO vessel (Brazil)
Independence Gas Hub production semi (Gulf of Mexico) KuMaZa FPSO vessel (Mexico) Dumbarton FPSO vessel (U.K.) Alvheim FPSO vessel (Norway) Volve MOPU and FSO vessel (Norway) Abu FSO vessel (Malaysia) Sepanjang FSO vessel (Indonesia) Kikeh FPSO and wellhead spar (Malaysia)
7. Existing Systems Okume/Oveng TLPs (Equatorial Guinea) Bonny River FPSO vessel (Nigeria) Chinguetti FPSO vessel (Mauritania)
Griffin FPSO vessel (Australia)
Wanaea/Cossack FPSO vessel (Australia)
Woollybutt FPSO vessel (Australia)
Roncador FPSO vessel (Brazil)
White Rose FPSO vessel (Canada)
Ursa TLP (Gulf of Mexico) Front Runner production spar (Gulf of Mexico) Innovator production semi (Gulf of Mexico) Didon FPSO vessel (Tunisia) Ross/Blake FPSO vessel (U.K.) Janice production semi (U.K.) Balmoral production semi (U.K.) Norne FPSO vessel (Norway) Crystal Sea FPSO vessel (India) Panna Mukta FSO vessel (India) Jasmine FPSO vessel (Thailand)
1.
Global Oil Demand Growing 1.8 Percent in 2007
2.
Crude Futures Prices Remain in the mid-$60s
3.
E&P Spending Expected to Grow 13 Percent This Year
4.
Drill Rig Demand and Utilization is Very Strong
5.
Production Floater Orders Continue at a Record Pace
1. Summary of the Available Five Year Market 2. FPSO Vessels Why FPSOs? Five year ordering history Outlook for FPSO projects Future role of redeployments Composition of future FPSO orders Projected capex for FPSOs 3. Production Semis Why production semis? Five year ordering history Future production semi requirements Potential redeployments of production semis Heavy vs. light deckload units Production semi capex projection 4. Tension Leg Platforms Why TLPs? Five year ordering history Outlook for TLP contracts Composition of future orders Projected TLP capex 5. Production Spars Why spars? Five year ordering history Outlook for spar contracts Composition of spar orders Projected capex for spar contracts 6. Floating Storage Systems Five year ordering history Future FSO contracts Projected FSO capex
1.
Conversion Hulls Account for 67% of FPSOs Installed in 2007 or On Order
2.
Major Field Operators Have Varying Preferences on Choice of New vs. Converted Hulls for FPSOs
3.
VLCC-size Units Account for Almost 40% of FPSOs Since 1997
--- With Suezmax-Size the Second Leading Choice
4.
LNG Floating Regas Projects Having Mixed Success in the U.S.
5.
M&A and Financing Activity Among Floater Operators Continues at a Brisk Pace
6.
Chinese Builders Gaining Increasing Presence in the Floater Fabrication Sector
7.
Joining Opec Could Slow Future Floater Projects in Angola
8.
One Less Potential Redeployment
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