1 spar overview - petra christian...

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THE PORI DELIVERY MODEL

SPAR OVERVIEWApril 2003

Euronext13170

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WELCOME

TECHNIP-COFLEXIP FINLAND

MW YARD

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MÄNTYLUOTO WORKS – FINLAND

TECHNIP-COFLEXIP FINLAND

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MÄNTYLUOTO WORKS – FINLAND

n Covered fabrication area 48000 square metersn Total yard area 11 hectaresn Steel fabrication capacity 18000 tonnes per annumn Heavy Lift Capacity 2400 tonnesn Multiwheeler transportation capacity 2300 tonnesn The yard layout&loading facilities fits well for Spar Fabricationn Competitive Advantages

l Reliability and Flexibilityl Short delivery times; successful concurrent engineering&fabricationl Proven infrastructure managementl Cost effective and innovative construction methodsl Schedule according to contract, but not compromising QA/HSEl Reference list

TECHNIP-COFLEXIP FINLAND

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ProjectProject Delivery DateDelivery DateContractContract ActualActual

Sleipner Vest M12 ModDeck Sections Nov 7, 94 Nov 6, 94

Neptune OryxSpar Hull Jun 26, 96 Jun 19, 96

GenesisSpar Hull Feb 15, 98 Feb 14, 98

GeminiSpar Hull Feb 2, 98 Jan 20, 98

DianaDDCV Hull Jun 2, 99 May 26, 99

NansenTruss Spar Hull Jul 27, 01 Jul 27, 01

Boomvang Truss Spar Hull Sep 23, 01 Oct 12, 01

BP Horn MountainTruss Spar Hull Apr 12, 02 Apr 18, 02

GunnisonTruss Spar Hull Jun 1, 03

HolsteinHard Tank & Mooring Sep 13, 03

Mad DogTruss Spar Hull Dec 16, 03

ProjectProject Delivery DateDelivery DateContractContract ActualActual

Gullfaks C, Gravity BaseGBS/MMO May 18, 88 May 1, 88

Snorre TLP TopsidesM1 Deck Part Apr 7, 90 Apr 12, 90

Sleipner CondensateModules Apr 27, 92 Apr 27, 92

Brage M10 ModulesDeck Sections Apr 3, 92 Apr 15, 92

Troll Phase 1 M2 PartTroll Deck May 20, 93 May 20, 93

Troll OljeBox Girders Oct 7, 93 Sep 20, 93

Deepsea BergenSponsons Mar 1, 94 Feb 26, 94

Heidrun M30 ModuleGrillage Apr 5, 94 Apr 6, 94

Troll Olje MOCorbel Rings Jul 2, 94 Jul 2, 94

TECHNIP-COFLEXIP FINLAND

REFERENCE LIST

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Three Businesses:TECHNIP RAUMA OFFSHORETECHNIP RAUMA OFFSHORE••Staff 2000 Staff 2000 -- 100 people100 people••Staff 2001 Staff 2001 -- 120 people120 people••Staff 2002 Staff 2002 -- 130 people130 people Project ManagementProject Management

MÄNTYLUOTO WORKSMÄNTYLUOTO WORKS••Staff 2000 Staff 2000 -- 580 people580 people••Staff 2001 Staff 2001 -- 650 people650 people••Staff 2002 Staff 2002 -- 800 people800 people FabricationFabrication

PIPI--RAUMARAUMA••Staff 2000 Staff 2000 -- 180 people180 people••Staff 2001 Staff 2001 -- 200 people200 people••Staff 2002 Staff 2002 -- 200 people200 people EngineeringEngineering

TECHNIP-COFLEXIP FINLAND

7SPAR CAPABILITIES

n Water depth 1,000 to 10,000 ft

n Well slots up to 40

n Oil throughout to 400 Mbod

n Gas throughout to 750 MMscfd

n Topside payloads 1,500 to 45,000 s. tons

n Hull diameters 20 to 200 ft

n Hull drafts 280 to 800 ft

n Storage 5 to 10 days production

8SPAR ADVANTAGES

èProven Concept

èProven Delivery Record

èFlexible to Late Changes

èCAPEX Competitivel T-C Delivers on Timel T-C Delivers on Budget

èOPEX Superiorl More Drilling/Workover Up-Time due to Seafloor Riser Anglel Smaller Marine Crew

èSafest Floater on the Market

èConcept for the Future Deep Water Activities World Wide

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è Unconditional Stability

è Center of Gravity always below Center of Buoyancy

è Derives No Stability from Mooring System

è Failsafe Ballast Systeml Filling all Ballast Tanks does not Sink the Spar

è No Licensed Marine Crew Required

è High Reserve Buoyancyl Spar remains Afloat with 3 Buoyancy Compartments

è Good Tolerance for Topside Eccentricity

è Good Tolerance for Change in Topside Weight

è Stable in all Phases of Installation

è Can be Towed Vertically with Topside Installed

SPAR STABILITY

10SPAR OPERATIONS

n Drilling/Workoverè Can start Well Deviation at Seafloorè Pre-Drill with MODU

l Complete with MODUl Complete with Spar WO Rig

è Drill and Complete with Sparl Drilling Rig

è Phased Drilling with MODUl Pre-Drill Phase 1 Wells with MODUl Complete and Produce Phase 1 with Sparl Offset Spar with Mooring Systeml Drill Phase 2 Wells with MODU while Spar is Offset and Producing Phase 1 Wellsl Complete and Produce Phase 2 Wells with Spar

n Ballastingè Unconditional Stabilityè Failsafe Systemè No Licensed Marine Crew Requiredè Operators Option

l Trim for Rig Offsetl Trim for Load Changes

è Adjust Variable Ballast if Significant Weight Changes in the Futurel Neptune increased Topside Weight 17% after installation

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è Designl Robust Conceptl Can adopt Changes at late Stage§ Increase hard Tank Depth§ Utilize Variable Ballast Margin

è Hull Fabricationl Mantyluoto Works Experienced Yard Dedicated to Spar Hull Fabricationl Proven Track Record

è Mooringsl Simple and Rugged

è Topside Fabricationl Gulf Marine Experienced Yardl Proven Track Record

è Risersl TOI Design and Delivery Capabilityl Proven Track Record

è Marine Operationsl Heavy Lift Vessel Requiredl Topside Lift Critical

SUCCESSFUL PROJECT EXECUTION

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SUCCESSFUL PROJECT EXECUTION

ISO 9001Quality Standard

Supply Chain

ManagementInfrastructure

Project

ManagementProject

Customer Relationship

ManagementRESULTS

DELIVERY

CAPACITY

PROCESS

TECHNIP-COFLEXIP FINLAND

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CompanyProcedures

StandardProject Management

Procedures

Project Specific Plans

Sub

stan

ce

ProjectManagementPlan - PMP

PROJECT MANAGEMENT PLAN

SUCCESSFUL PROJECT EXECUTION

TECHNIP-COFLEXIP FINLAND

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TechnicalSpecification

ProjectManagement

Plan

Pricing

Proposal

Delivery Commitment

PROPOSALBASIS

SUCCESSFUL PROJECT EXECUTION

TECHNIP-COFLEXIP FINLAND

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PROJECT COST DRIVERS

OwnershipStructure

ManagementSystems

Price

Track Record

ExecutionPlan

CONTRACTOR

RISK COST

Contingency

CUSTOMER

• Innovation• Productivity• Profit Expectations• Currency Rate• Labor cost

•• InnovationInnovation•• ProductivityProductivity•• Profit ExpectationsProfit Expectations•• Currency RateCurrency Rate•• Labor costLabor cost

• Commitment• Communication

•• CommitmentCommitment•• CommunicationCommunication

SUCCESSFUL PROJECT EXECUTION

TECHNIP-COFLEXIP FINLAND

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ALL PROJECTS AREALL PROJECTS ARESCHEDULE DRIVENSCHEDULE DRIVEN

ENGINEERING SERVESENGINEERING SERVESFABRICATIONFABRICATION

THE ONE WHO DOES THE WORKTHE ONE WHO DOES THE WORKIS THE BEST EXPERTIS THE BEST EXPERT

OF HIS WORKOF HIS WORK

• Clear goals• Clear responsibilities• Meaningful work

FABRICATION ORIENTED

SUCCESSFUL PROJECT EXECUTION

TECHNIP-COFLEXIP FINLAND

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KEY SUCCESS FACTOR

Engineering

Fabrication

CONCURRENT

• Knowledge Sharing• Controlled Risk Decisions

Fabrication

Engineering

SEQUENTIAL

• InformationTransfer

TECHNIP-COFLEXIP FINLAND

18CAISSON SPAR VS. TRUSS SPAR

19SPAR DRILLING OPTIONS

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RING SECTION ASSEMBLY

TECHNIP-COFLEXIP FINLAND

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MATING TRUSS TO HULL

TECHNIP-COFLEXIP FINLAND

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DRY TRANSPORT

TECHNIP-COFLEXIP FINLAND

23PRE-UPEND

24TOPSIDE LIFT

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NEPTUNE ROC-32 GENESIS ARO-33 DIANA ARO-45

Main dimensions:Hull diameter 21,95 mHull height 214,88 mHull light weight 11 699 tons

Delivery year 1996Client Oryx

Main dimensions:Hull diameter 37,19 mHull height 214,88 mHull light weight 25 923 tons

Delivery year 1998Client Chevron

Main dimensions:Hull diameter 37,19 mHull height 214,89 mHull light weight 31 224 tons

Delivery year 1999Client Exxon

TECHNIP-COFLEXIP FINLAND

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NANSEN ARO-55Main dimensions:Hull diameter 27,43 mHull height 165,51 mHull light weight 10 521 tons

Delivery year 2001Client SII

BOOMVANG ARO-56Main dimensions:Hull diameter 27,43 mHull height 165,51 mHull light weight 10 540 tons

Delivery year 2001Client SII

HORN MOUNTAIN ARO-58Main dimensions:Hull diameter 32,21 mHull height 169,16 mHull light weight 13 278 tons

Delivery year 2002Client AMI

TECHNIP-COFLEXIP FINLAND

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n Water depth: 4,344 ft. (1,324 m)

n Topsides payload: 28,000 ST (25,400 metric tons)

n Diameter: 146 ft. (44.5 m)

n Length: 780 ft. (HT: 256 ft., T: 493 ft., ST: 22 ft.)

n (237.7 / 78.0 / 150.3 / 6.7 m)

n Center-well: 75 ft. x 75 ft. (22.9 m)

n Top tensioned risers: 16

n Hard tank weight: 20,700 ST (21,500 metric tons)

n Truss and soft tank weight: 9,000 ST (8,200 metric tons)

n Mooring: 16 lines with suction anchors

BP HOLSTEIN SPAR

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Status of projectsProject Section

fabricationHalf sectionassembling

Hull erection Outfitting Delivery

Gunnison 100 % 100 % 100 % 80 % June 1.2003

Holstein 100 % 70 % 30 % 20 % Sep 9.2003

Mad Dog 60 % 40 % 10 % 10 % Dec 16.2003

TECHNIP-COFLEXIP FINLAND

29TECHNIP-COFLEXIP FINLAND

SPAR PROGRESSION

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For more information, please contact:

INVESTOR RELATIONS

G. Christopher WeltonTel. +33 (0) 1 55 91 88 27e-mail: cwelton@technip-coflexip.com

David-Alexandre GuezTel. +33 (0) 1 47 78 27 85e-mail: daguez@technip-coflexip.com