Sbm Offshore Nv · EURONEXT:SBMO
Sbm Offshore Nv — Investor Day (September 2014)
86 slides from Sbm Offshore Nv's investor day presentation, Sep 19, 2014
Slide 1: Technology
Technology Mike Wyllie | Andrew Newport Group Technology Director SBM Monaco PTD Director September 19, 2014 © SBM Offshore 2014. All rights reserved. www.sbmoffshore.com
Slide 2: Disclaimer
Disclaimer Some of the statements contained in this presentation that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual
Slide 3: Contents
Contents 1. Key Industry Trends 2. Technology Organisation in SBM 3. Technology Advances • FPSO Technology • Mooring System Technology (A. Newport) • Semi Sub & TLP Technology (A. Newport) • FLNG Technology • Other Technology 4. SBM Group Technical Standards 5. Conclusions 3
Slide 4: Industry Trends
Industry Trends 4
Slide 5: What We Are Hearing From Our Clients as Key Trends in the Industry
What We Are Hearing From Our Clients as Key Trends in the Industry 5
Slide 6: Key Industry Trends
Key Industry Trends 6
Slide 7: Key Industry Trends
Key Industry Trends Deeper Water – Beyond 3000m Riser Technology Deeper Reservoirs – 10,000m and deeper Ultra High Pressure/High Temperature 7
Slide 8: Key Industry Trends
Key Industry Trends Harsher Conditions in Frontier Areas Permanently Moored in Cyclonic Regions Larger mooring loads 8
Slide 9: Key Industry Trends
Key Industry Trends Field developments moving further North into Arctic waters Disconnectable under ice loads Operability in severe ambient conditions 9
Slide 10: Key Industry Trends
Key Industry Trends Improved seismic, drilling and EOR Facilities staying beyond original design life Asset integrity focus Material selection for longer life 10
Slide 11: Key Industry Trends
Key Industry Trends Increased capacity, higher pressures and more complex processing Larger topsides modules Hull size, strength, stability 11
Slide 12: Key Industry Trends
Key Industry Trends Increasing demand for cleaner fuels such as LNG Floating LNG now becoming accepted Need to find lower cost FLNG solutions 12
Slide 13: Key Industry Trends
Key Industry Trends Shortage of skilled manpower, while offshore facilities get more complex Optimise balance between offshore and onshore workforce 13
Slide 14: Key Industry Trends
Key Industry Trends Increasingly hard to sanction deepwater projects – Capex vs. oil price trends Urgent need to reduce cost & schedule 14
Slide 15: Industry Trends Mainly Working Against Cost Reduction Objective
Industry Trends Mainly Working Against Cost Reduction Objective 15
Slide 16: Technology Development in SBM Offshore
Technology Development in SBM Offshore 16
Slide 17: Four Technology Leadership Centres
Four Technology Leadership Centres Monaco Schiedam Houston KL Mooring Gas, Semis, Topsides Systems Hulls TLP’s, Risers 17
Slide 18: Technology Readiness Level (TRL)
Technology Readiness Level (TRL) Status TRL Proven in service for >3 years 7 System installed and operating. 6 Technology Execution of full scale project 5 developed in SBM is now matured System prototype / FEED 4 through a stage- Component prototype / pre-FEED 3 gate process to 2 ensure robustness
Slide 19: FPSO Technology
FPSO Technology 19
Slide 20: Generation 1 Simple Oil Processing FPSOs
Generation 1 Simple Oil Processing FPSOs FPSO IV 1986 to 1998 Rang Dong I FPSO II 1998 to 2008 1981 to 1996 20
Slide 21: Generation 1 Rang Dong & Pre-1998 FPSOs
Generation 1 Rang Dong & Pre-1998 FPSOs
Slide 22: Generation 2 FPSO Brasil and Marlim Sul
Generation 2 FPSO Brasil and Marlim Sul Marlim Sul FPSO Brasil 22
Slide 23: Generation 2 FPSO Brasil & Marlim Sul
Generation 2 FPSO Brasil & Marlim Sul Power generation
Slide 24: Generation 3 Cidade de Paraty and Beyond
Generation 3 Cidade de Paraty and Beyond… Cidade de Ilhabela 2014 Cidade de Saquarema 2015 Cidade de Maricá 2016 24
Slide 25: Generation 3 Cidade de Paraty and Beyond
Generation 3 Cidade de Paraty and Beyond
Slide 26: Generation 3 FPSOs Measure of Complexity
Generation 3 FPSO’s Measure of Complexity Topsides Weight (mt) Shaft Power (MW) 23,000 225 10,000 100 1,000 10 G1 G2 G3 G1 G2 G3 26
Slide 27: Cidade de Ilhabela – Sailaway
Cidade de Ilhabela – Sailaway
Slide 28: Process Intensification (PI)
Process Intensification (PI) Compact Process Intensification: Greater capacity topsides Reduce topsides weight Cost reduction technologies Increase capacity Improved & Reduce HC inventories Inherent Safety Subject Proposition Objective Value Improved Performance Reduce fabric maintenance 28
Slide 29: New Technology with PI Ultrafiltration of Seawater
New Technology with PI Ultrafiltration of Seawater Note: Pictures to approx. same scale 2013 2015 C.de Ilhabela sea water treatment: Standardised, scalable SW treatment: MMF vac DA SRP UF SRP vac DA 180,000 bwpd 270,000 bwpd 29
Slide 30: New Ways of Working Offshore
New Ways of Working Offshore Offshore Full data transmission to shore Onshore Improved Support performance Center (OSC) Optimized Real Time offshore Support to manning Crew Onshore Lower More plant maintenance automation equipment 30
Slide 31: Mooring Technology
Mooring Technology Andrew Newport 31
Slide 32: Turret Moored FPSO
Turret Moored FPSO 32
Slide 33: Spread Moored FPSO
O Y) ae oo ro) o fs) fs) = Oo © © 5 Y)
Slide 34: Past Mooring Systems
Past Mooring Systems 34
Slide 35: Current Range of Internal Turrets
Current Range of Internal Turrets Petrobras P- Shell Espirito Petrobras BP Skarv Shell Prelude BP Quad 204 53 Santo Marlim Sul 35
Slide 36: Water Depth Trend For FPSO and FSO Moorings
Water Depth Trend For FPSO and FSO Moorings 36
Slide 37: Top Mounted Internal Turret (TMIT)
Top Mounted Internal Turret (TMIT) Virtually no limit on riser number – scalable Virtually no limit on mooring loads Bogies and radial wheels are inspectable and replaceable 37
Slide 38: Top Mounted Internal Turret (TMIT)
Top Mounted Internal Turret (TMIT) Bogies support axial loads Radial wheels support radial loads Dry access in turret for inspection and maintenance The bogie design is standard The number of bogies is selected to accommodate the design loads (N+1) 38
Slide 39: TMIT with Steel Risers
TMIT with Steel Risers Espirito Santo employs steel lazy wave risers Steel Lazy Wave Risers terminate at lower cylinder deck Umbilicals terminate at upper cylinder deck Weathervaning system unaffected 39
Slide 40: Disconnectable Turrets
Disconnectable Turrets 40
Slide 41: FPSO Turritella
FPSO Turritella • Disconnectable FPSO in 2,900 meters • Steel lazy wave risers • Worlds deepest production unit IR – 14/11/2013 41
Slide 42: Turritella Mooring System
Turritella Mooring System 42
Slide 43: Disconnectable Mooring Systems
Disconnectable Mooring Systems Able to disconnect under loads (600 tons per locking device) Able to transfer up to 900 tons per locking device when connected 43
Slide 44: MoorSpar
MoorSparTM A slender buoy (spar) decoupled from the FPSO heave motions Capable of supporting much larger number of steel risers Disconnectable for hurricane events 44
Slide 45: MoorSpar
MoorSparTM 45
Slide 46: Arctic Moorings
Arctic Moorings Icebergs Ice fields • 100 yr return • Ice vaning condition • Disconnect • Disconnect under high under low loads loads 46
Slide 47: Ice Class FPSOs
Ice Class FPSOs Key Mooring Challenges • Sheet ice – “Ice Vaning” required • Mooring system disconnectable under ice loads 47
Slide 48: Ice Vaning Tests in Arctic Model Test Basin
Ice Vaning Tests in Arctic Model Test Basin Ice model test campaign in Arctic conditions 48
Slide 49: Articulated Rod Connecting Arm (ARCA)
Articulated Rod Connecting Arm (ARCA) • Improved Maintenance • Diverless – Safer • Cost Reduction 49
Slide 50: ARAC Prototype
ARAC Prototype 50
Slide 51: Swivel Overview
Swivel Overview Swivels transfer fluids, utilities, power and signals between the geostationary turret and the weathervaning vessel. 51
Slide 52: Growing in Size of Swivel Stacks
Growing in Size of Swivel Stacks 52
Slide 53: Present Fluid Swivel Operating Envelope
Present Fluid Swivel Operating Envelope 900 800 700 VHP Swivel 600 Pressure (bars) 500 400 300 200 100 0 0 500 1000 1500 2000 2500 3000 Seal Diameter (mm) 53
Slide 54: Very High Pressure Swivels Introduced in 2014
Very High Pressure Swivels Introduced in 2014 2014 54
Slide 55: Core Swivel Technology
Core Swivel Technology SBM’s Carros Laboratory 55
Slide 56: Lower Seal Replacement
Lower Seal Replacement 56
Slide 57: Large Scale Power Import or Export
Large Scale Power Import or Export 2011 HVAC swivel rated at 65 kV and 150 MW 57
Slide 58: Mooring Systems – Summary
Mooring Systems – Summary Deeper • VPH Swivels for deeper reservoirs • Increased mooring loads using bogie Harsher bearings Colder • Disconnectable turrets for Arctic Larger • Higher capacity swivels, optimised manifolds Lower Cost • ARCA, higher capacity external turrets 58
Slide 59: Semi Sub & TLP Technology
Semi Sub & TLP Technology 59
Slide 60: Proven Deepwater Semi-Submersibles and Tension Leg Platforms
Proven Deepwater Semi-Submersibles and Tension Leg Platforms Beyond ~1500m water depth DeepDraft Semi Submersible • 2 Units installed in US GoM • Operating in 2450m water depth • Optimised for wet trees and steel risers • Also available for dry trees in moderate Hs Below ~1500m water depth Tension L
Slide 61: Alternatives to FPSOs
Alternatives to FPSOs Production units in areas of developed infrastructure do not need storage 61
Slide 62: FourStar TLP
FourStarTM TLP Builds on SeaStar experience Higher payload than SeaStar Suitable for Wet or Dry Trees Topsides integrated at Quayside 62
Slide 63: Drilling Riser TRIP-SAVER
Drilling Riser TRIP-SAVER™ Allows all wells to be drilled consecutively without recovering and redeploying the Drilling Riser Significant Drillex saving 2013 63
Slide 64: Horizontal Tendon Assembly
Horizontal Tendon Assembly 64
Slide 65: Horizontal Tendon Assembly
Horizontal Tendon Assembly Significant Installation saving 65
Slide 66: SBM Deep Draft Semi with Dry Trees
SBM Deep Draft SemiTM with Dry Trees Builds on production semi experience Lower cost and more flexible than a Spar Quayside topsides integration Beyond 1500 m, more cost effective than a TLP 66
Slide 67: FLNG Technology
FLNG Technology 67
Slide 68: Conversion or New Build?
Conversion or New Build? Analogy with FPSO Tanker Conversions Dominate the Global FPSO Fleet 100% % of Global FPSOs Based on Tanker New Builds 250 Dominate 80% Number of FPSO Vessels 200 Prospect Conversions 60% Bidding 150 Construction 40% Working 100 Standby 20% Conversions Scrapped Dominate 50 0%
Slide 69: Analogy to FPSO Market
Analogy to FPSO Market FLNG vessels based on LNG tanker New Build FPSO New Build FLNG conversions can 150,000+ bpd 2+ mtpa replicate the success of converted FPSOs, drawing on experience from the global FPSO fleet Converted FPSO Converted FLNG <150,000 bpd <2 mtpa 69
Slide 70: Mid Scale Floating LNG
Mid Scale Floating LNG © 2013 SBM Offshore
Slide 71: Topsides Process Selection
Topsides Process Selection Efficiency, Capex Uptime, Safety NPV = fn (Capex, Opex, Efficiency, Uptime, Risk) 71
Slide 72: Comparison of Liquefaction Process Options
Comparison of Liquefaction Process Options Dual Mixed Single Mixed Dual Nitrogen Refrigerant Refrigerant Expansion Proven technology Yes Yes Yes Overall space required High High/Moderate Moderate Hazardous Refrigerant Yes Yes No HC Refrigerant make-up Yes Yes No Explosion Hazards High High Low Compl
Slide 73: 1/60 Scale Model Test in MARIN Basin
1/60 Scale Model Test in MARIN Basin Camera 6 Motion sensors 1 Splitting force measurement frame 8 Wave height sensors 5 Slamming sensors 4 Green water pressure sensors 8 Wave proves for water on deck 73
Slide 74: Comparison Between Converted FPSO and Converted FLNG
Comparison Between Converted FPSO and Converted FLNG • Similar Topsides weight • Similar Capex • Similar Schedule FPSO 150,000 bpd Twin Hull FLNG 2.0 MTPA 74
Slide 75: Competitive Advantage Through Technology – Twin Hull FLNG
Competitive Advantage Through Technology – Twin Hull FLNG Lower CAPEX Local Content Faster Delivery Opportunity Strong Better Inherent Partners Safety Excellent Performance 75
Slide 76: Other Technology
Other Technology 76
Slide 77: Extended Well Test with GTL
Extended Well Test with GTL 30,000 bpd + 40 MMscfd 33,000 bpd blended crude 77
Slide 78: Heavy Oil Upgrading
Heavy Oil Upgrading 50,000 bpd of 9o API 45,000 bpd 20o API 78
Slide 79: S3 Wave Energy Converter (WEC)
S3 Wave Energy Converter (WEC) Electro Active Polymer (artificial muscle) converts mechanical energy into electrical energy No mechanical moving parts, Excellent Efficiency 79
Slide 80: SBM Offshore Group Technical Standards
SBM Offshore Group Technical Standards 80
Slide 81: Continuous Feedback Loop
Continuous Feedback Loop ENGINEERING PROCUREMENT RELOCATION CONSTRUCTION OPERATIONS INSTALLATION 81
Slide 82: Technical Lessons Learnt
Technical Lessons Learnt CLIENT: SBM OPERATIONS OFFSHORE GROUP TECHNICAL STANDARDS ES45000 PECEMETS999005 A3 DOCUMENT TITLE: MECHANICAL UNFIRED PRESSURE VESSEL STANDARD SPECIFICATION 82
Slide 83: Technical Lessons Learnt
Technical Lessons Learnt • Established 2003 • 150 Standards and Specifications • Pre Approved by ABS • Updated annually • Default standards for SBM leased FPSOs • Now also applied to 4 EPC Sale FPSOs 83
Slide 84: Conclusions
Conclusions 84
Slide 85: SBM Technology – Conclusions
SBM Technology – Conclusions Exciting Portfolio of new Products and components Aligned to Strong Technical needs of clients Partners and Industry Trends Major Cost & Stage Gate Schedule process for TRL reduction initiative 85
Slide 86: Q&A
Q&A © SBM Offshore 2014. All rights reserved. www.sbmoffshore.com © SBM Offshore 2014. All rights reserved. www.sbmoffshore.com