Det norske oljeselskap ASA Leverandørdag. November 10 th 2014

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1 Det norske oljeselskap ASA Leverandørdag November 10 th

2 Agenda Registering og kaffe :30 Velkommen og dagens program Lars Petter Hoven HMS Aage Ertsgaard Det norske - et fullt integrert oljeselskap Det norske sine forventninger til leverandører Karl Johnny Hersvik Ivar Aasen Drift Geir Hjelmeland Alvheim Drift Richard Miller Pause Organisering av anskaffelser i Det norske og kommunikasjon med leverandører Lars Petter Hoven Etablering av driftskontrakter for Ivar Aasen Brit Borsheim Henriksen Status driftskontrakter for Alvheim Kenneth Byrkjedal Lunsj Leverandør presentasjoner

3 HSE in Det norske Our Expectations November 10 th 2014 Aage Ertsgaard

4 Ingen øvelse planlagt i dag 4

5 HSE goals Det norske s main HSE objectives are to execute our operations in a manner ensuring that we: Avoid harm and injuries to personnel, the environment and financial assets Avoid work-related illness ensuing from operations Ensure the technical integrity of facilities Avoid orders from the Norwegian authorities Det norske shall achieve these objectives through: Integrating HSE-related goals, strategies and action plans in all projects and activities managed and carried out by the company. Tasks related to HSE and reducing risk of major accidents shall be prioritized at all levels within the company. Being a good employer. HSE-related issues pertaining to all activities offshore and onshore are to be taken seriously and duly followed up. Det norske s premise is that all undesired events can be avoided. To develop a good HSE culture and promote a healthy attitude is important in order to achieve our goals. 5

6 Key Factors Plan Understand the task Identify risks and control measures Perform Implement control measures Perform the task as planned Monitor Are risk control measures working? Are the risks different to what was expected? Are we following the plan? Are we making unplanned changes? Stop Stop if you are unsure Time-out to assess uncertainties/concerns 6

7 Walking the Walk... Take time to plan things correctly Take your «Authority to Stop Unsafe Work» seriously Take ownership of the choices you make 7

8 8

9 «Det norske s Leverandørdag» CEO Karl Johnny Hersvik November 10 th 2014

10 Det norske at a glance Founded in 2005 About ~500 employees Headquarter in Trondheim, with offices in Oslo, Stavanger and Harstad Listed on Oslo Stock Exchange in 2006 Strong Norwegian owners (Aker ASA 49,99%) Main Assets; Johan Sverdrup, Ivar Aasen and Alvheim 10

11 Det norske- an active player on the NCS Pure play on the NCS Active exploration company Second largest acreage holder on the Norwegian Continental Shelf Significant development projects Ivar Aasen and Johan Sverdrup fields to secure future production growth Acquisition of Marathon Oil Norway Added significant production and reserves Resulted in a diversified asset base across all stages of the E&P lifecycle 11

12 Creation of a strong Norwegian E&P company Acquisition of Marathon Oil Norway transformed Det norske Integration was completed in less than 4 ½ months Organisational set-up to support flexibility and agility in the decision-making process Financing secured for the current work program Significant free cash flow from 2020 onwards as Johan Sverdrup is brought on stream Diversified portfolio to support further growth 12

13 Traditional business model is challenged Cost inflation In all parts of the value chain Falling profitability Return on capital down Cash flow squeeze Oil price stagnant Recent years not increased at same rate as costs Downward trending New business models Focus on value and cost Portfolio activity More focused models

14 We will meet the external challenges Det norske will continue developing by being... Value driven and disciplined in everything we do Focused around our core areas Efficient in how we run our operations Agile and flexible in the way we are organized

15 Strategic choice: Drive execution and build optionality Drive execution: Deliver Ivar Aasen and strengthen position in area Maximize value from the Alvheim area Secure position in Sverdrup unitization Ensure successful integration of MONAS Build optionality: Continue to optimize the capital structure Cost efficiency Long-term reserve replacement strategy

16 Always moving forward to create value on the Norwegian shelf Reliable Committed Responsible Enquiring

17 Recap strategic direction: Det norske way Value driven and disciplined in everything we do Focused around our core areas Efficient in how we run our operations Agile and flexible in the way we are organized

18 Implications for how we want to work with our suppliers More value driven Business Strategy More cost driven Value driven and disciplined Emphasize best value, not only lowest costs Focused around our core areas Efficient in how we run our operations Agile and flexible in the way we are organized Accelerate innovation through partnerships Partner to get best possible capabilities for our assets Continuous improvement Run efficient processes Use supplier capabilities and capacity strategically Drive standardization Work together to improve quality, cost and time Our supply chain strategy is supporting our by the business strategy

19 Internal focus External focus We will work together with our suppliers to improve performance over time Value Value creation beyond cost cutting SRM driven by innovation and continuous improvement SRM Increased complexity, spend and criticality Value creation on the table Impact of contract management No contract management Contract management Contract Administration Time Number of suppliers Impact of strategic sourcing Impact of supplier relationship mgmt (SRM)

20 Corporate SCM established to work strategically with sourcing across the organization Corporate SCM Lars Petter Hoven Logistics & Operating Supplies Erlend Toftesund Air and Aviation Supply Base Marine Vessels D&W Logistics Category Mgr Projects (DG1 DG4) Lars Petter Hoven (acting) Category Mgr Drilling & Well Services Kjersti Holmvik Category Mgr Operations Kenneth Byrkjedal Category Mgr Planning & Business Support Torgeir Brenne Pre-FEED FEED Subsea Pipelines Fixed Platforms Floating Facilities Major Modifications Rig Contracts Rig Assignments Well Services Drilling Services Seismic Contracts Operational Contracts Material Services Maintenance Services Logistics Subsea Frame Agreements Business Consulting and Temporary Staff Market Intelligence ICT Contracts Sponsoring House and Office Rentals 20

21 Det norske`s expectation to suppliers Plan Perform Improve Service minded and responsive High performance and responsibility for HSE&Q Open and honest communication Plan work with correct resources & competence Delivery upon agreed time and quality. ALWAYS Identify adjustments, get approvals and implement Prequalify and follow-up all subcontractors Ability to develop products, services & competence Standardize to improve overall value High ambitions and ability to challenge, think differently Contribute to high operational regularity Focus on continuous improvements 21

22 What to expect from Det norske An innovative organization......staying close and hands-on......seeking continuous improvement......creating value for all stakeholders Developing strategic partnerships to increase value creation for all stakeholders 22

23 23

24 Ivar Aasen November 10 th 2014 Geir Hjelmeland

25 IVAR AASEN Maersk Interceptor arrived in Norway

26 IVAR AASEN Fourth Jacket Roll-up Completed

27 IVAR AASEN Topside Construction on Schedule

28 IVAR AASEN Development on Track H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 Concept selection FEED studies PDO approval Unitisation Agreement Construction of jacket Construction of topside Construction of LQ Maersk Interceptor to Norway Drilling of geo-pilots Jacket lifted into place Drilling of production wells Topside to leave SMOE yard Installation of topside Installation of living quarters Hook-up and commissioning Production start-up

29 Ivar Aasen Development tied-in to Edvard Grieg 29

30 Management model for Operations Ivar Aasen November 10 th 2014 Geir Hjelmeland

31 Ivar Aasen Management Operation Model Det norske goals Operation Objectives Management Principles Plan Act Changes to be made Improve and Prioritize Continuous Improvement Do Right things for right reasons Measure Monitore and Evaluate HSE/Risk/Production/Cost 31

32 Ivar Aasen Operation Objectives Support Company s overall strategy Prioritize HSE and Safety, Quality, Production and Cost Lean and efficient Operational model and Organization Promote Continuous Improvement and effective Knowledge Sharing Efficient preparation for operations, ready for first oil October 1 st 2016 Clear view on how Ivar Aasen is to be operated A detailed plan on how to be ready for operation Integrated and aligned organization with effective use of internal and external resources 32

33 Management principles 1. Safe production is our core business a) All other functions shall support safe production through daily effective activity planning 2. HSE is included as an active element in all operational activities 3. Work that can be executed onshore in a safe and cost efficient manner shall be executed onshore 4. Activities to be managed through work processes. a) Work processes and not organizational structure to drive operational activities both for internal and external resources b) Roles and responsibilities clearly defined in established work processes 5. Continuous improvement is a fundamental principle for all activities and levels of the organization 33

34 Requirments for a lean and efficient operation HSE priority #1 for all work Efficient Operation Center Offshore and Onshore alignment (Operation, Technical Support, Drilling & Well and PETEK) Internal and external resource collaboration Use of available technology and tools Defined in-house competence requirements Staff vs consultancy and third party assistance Utilize external expertise Optimize number of suppliers / contracts 34

35 Organizational structure and alignment Onshore operating center Onshore control room Organizational Alignment & Support Work processes OIM 1 Aligned Multidiscipline team Catering 4 Operations Supervisor 1 HSE/Medic 1 Competence & Training Processoper./ Controlroom 7 Mechanics/ Deck 2 Logistic Crane/Store 2 Automation/ 2 2 Electro Instrument Offshore organization 35

36 Operational «fit for purpose» contracts with optimized utilization of internal and external resources 140 contract objects analysed Goal for 30 operational contracts 36

37 37

38 Alvheim area November 10 th 2014 Richard Miller

39 The Alvheim area Alvheim Vilje Volund Alvheim Oslo Stavanger Bøyla 39

40 Alvheim emerges as a regional oil hub Vilje Vilje Sør East Kameleon Boa Kneler B Volund Kneler A August June September October Q4 2013: 2008: 2008: 2011: Vilje Alvheim 2009: Vilje Alvheim SørVolund E Kam. Production Development Vilje Sør is commenced a of southern East extension in Kameleon August June September of 2008 the and 2009, reservoir Viljeat field. and PDO commenced at the PDO field the was in field 2010 estimated was with estimated the to contain to drilling contain of P50 three P50 resources dual-lateral of mmboe of horizontal mmboe. 50 MMBOE. production A single lateral wells. horizontal production well Det The Volund tiedback norske Alvheim was through holds the Field third the a is majority comprised existing subsea 46.9 Vilje of percent subsea the working Kneler, development The system. first Boa, interest. two and tied wells East back began Kameleon to the production Alvheim drill in centers. FPSO October solidifying its position as a regional Initially oil Production hub. two daisy startup chained was early production in 2014 wells, Currently A fourth tied producer back there in are an is 15 currently 18-km producing pipeline being wells to drilled the and The as part Alvheim two field of water produces the FPSO. IOR disposal Project 15,000 wells. BOPD from four producing wells and also contains The one Production water field IOR currently project injection is currently will produces well. deliver 10, ,000 new BOPD from BOPD horizontal three wells. infill producers during 2015/16 Current production is 60,000 BOPD 40

41 NCS - Top 10 oil producing fields, (mill Scm3 oil) 41

42 Alvheim hub extends its reach The next development Bøyla was discovered in Q and was one of several prospects near the Alvheim FPSO with tieback potential. Viper Deep Alvheim The project is nearing completion. Production start up is expected in early 2015 with two horizontal production wells and one water injection well. Kobra Gekko Bøyla 42

43 Opportunities still abound Future opportunities: Multiple opportunities in the Greater Alvheim Area with tieback potential to Alvheim FPSO. Deep Alvheim IOR project o 3 infill wells Viper Kobra Attic oil Volund infill program Caterpillar Gekko appraisal Exploration Deep Alvheim Boa area Potential 3rd party business Viper Kobra Gekko Bøyla Caterpillar 43

44 Gross BOEPD Alvheim FPSO Extending the Plateau Plan Current 44

45 MMBOE Alvheim FPSO current resource base Contingent projects IOR/Extensions Bøyla Volund Reservoir Management & Performance Alvheim/Vilje at PDO 0 45

46

47 Overall Field Layout Status at 27 th October 2014 Available for production Complete but not tied in Suspended Drilling/completion ongoing Shut in temproarily

48 Operations & Maintenance philosophy 2004 (developed 4 years prior to startup, and still going strong..) To maximise the value of the Alvheim investment by achieving high production availability together with superior HSE performance through commited Leadership and personal commitment. With an Operations team that is a small, flat organisation of competent, multi-skilled personnel with tight onshore/offshore integration and working across departmental boundaries; a team with special knowledge in operation and maintenance of plant by virtue of individual engagement achieved through system ownership. With the minimum amount of activity offshore by ensuring that as much as is practicle is performed onshore; the offshore team focusing on HSE & uptime whilst the onshore team supports the offshore effort, performs long term planning and maintains the strategy. With special emphasis on onshore / offshore co-operation to avoid traditional barriers, and exploring new ways of integration. 48

49 Operational model Based on the following attributes: Leadership Continuous improvement Management of risk Planning Onshore / Offshore co-operation Flexible and dynamic organisation Manning, adhoc/temporary resources, internal vs external competence... Risk based inspection Reliability centred maintenance Campaign maintenance 49

50 Our business partners The Asset organisation has a limited capacity and selective expertise.. and a very clear set of deliverables and performance commitments: every year, every month, every week, every day. With 35 onshore & 33 offshore direct FTEs, we require our business partners to: Deliver what is «ordered» Take responsibility Have an open dialogue with us Provide expertise, sometimes integrated into our organisation Do it right first time Estimate and plan accurately Deliver in accordance with plans Provide the appropriate quality Not to over engineer or bureaucratise 50

51 51

52 Anskaffelser i Det norske November 10 th 2014 Head of SCM - Lars Petter Hoven

53 Agenda New Det norske SCM Organisation Framework Conditions for tendering Background - Preparation of operation contracts Contracts Awarded per today Communication with supplier market 53

54 Corporate SCM established to work strategically with sourcing across the organization Corporate SCM Logistics & Operating Supplies Air and Aviation Supply Base Marine Vessels D&W Logistics Category Mgr Projects (DG1 DG4) Category Mgr Drilling & Well Services Category Mgr Operations Category Mgr Planning & Business Support Pre-FEED FEED Subsea Pipelines Fixed Platforms Floating Facilities Major Modifications Rig Contracts Rig Assignments Well Services Drilling Services Seismic Contracts Operational Contracts Material Services Maintenance Services Logistics Subsea Frame Agreements Business Consulting and Temporary Staff Market Intelligence ICT Contracts Sponsoring House and Office Rentals 54

55 Framework Conditions for tendering Authority Requirements/contract law Due to ESA exemption April 2013 covering oil and gas companies «Forsyningsforskriften» has been replaced by general contract law i.a. «Konkuranseloven» Competition, transparency, equal treatment, predictability, objective evaluation criteria's, good tender practice it all remains good common sense... Joint Operating Agreement (JOA) Standard agreement governing rights and liabilities between partners in a Production Licence Procurement strategies and contracts above agreed threshold values are subject to license approval 55

56 Background - Preparation of operation contracts Phase 1 Phase 2 Phase Overall Contract Strategy Category Strategy and Mobilisation Implementation

57 Contracts Awarded for Ivar Aasen Maintenance, Modification and Operation Services Helicopter Services (Cooperation with Lundin) Helicopter booking services Supply base services Platform Supply Vessel Standby Vessel 57

58 Contact info Det norske Suppliers day - Kick off Phase 3, Tendering and Contracting Communication to be as follows: - Inquiries to be issued to - Nomination of single point of contacts for each tender will be done at submittal of individual ITTs 58

59 59

60 Operational contract portfolio for Ivar Aasen November 10 th 2014 Brit Borsheim Henriksen

61 Goals for establishment of Operational Contracts Secure necessary contract portfolio for Ivar Aasen Operation, containing contracts for all services and products needed. All contracts to be ready for Operation - start up planned Q Provide a contract portfolio reflecting Det norske as a lean organization, with requirements for effective and productive processes. Realize synergies between Ivar Aasen and Alvheim contract portfolios. All contracts established shall include an option for future licenses in Det norske. 61

62 Category strategies Contract objects Verification, analyse and bundling Review of Alvheim contract portfolio Category strategies 62

63 Principles for tendering Main rule is competitive tender process. Request for Information. Achilles qualification system to be used for tenderer selection. Request for Quotation/ITT Different contract models Standard contract templates for Det norske Frame agreements with Call-off Orders 63

64 Preliminary Contract Portfolio for Ivar Aasen Operation Mechanical, Rotating, Static and HVAC 6 RFQ/ITT EICT 7 RFQ/ITT Cranes & Lifting 3 RFQ/ITT Valves 1 RFQ/ITT Inspection 1 RFQ/ITT MMO 1 RFQ/ITT HSE&Q 7 RFQ/ITT 64

65 Preliminary Contract Portfolio for Ivar Aasen Operation Catering 1 RFQ/ITT Chemical & Petroleum, Oil and Lubricants 4 RFQ/ITT Consumables 1 RFQ/ITT Helicopter 2 RFQ/ITT Vessels 2 RFQ/ITT Supply-base, Warehouse and transport - 2 RFQ/ITT Subsea estimated 1 RFQ/ITT 65

66 Approach to Ivar Aasen contracts with Alvheim synergies Contracts are subject for renegotiation of existing Alvheim Contracts Contracts are subject for common ITT and contract for Ivar Aasen and Alvheim Contracts to be established for Ivar Aasen Operation, and with option for other licenses in Det norske 66

67 67

68 Status contract portfolio for Alvheim Operations 10 November 2014 Kenneth Byrkjedal Category Manager Operations

69 Agenda Category Management in Det norske Contracts for Alvheim FPSO operations Vision for the Alvheim FPSO portfolio 69

70 Category Management in Det norske Category management is an international practice that helps to transform the process of procurement and supply to generate value by segmenting the procurement of goods, leases, services and public works to achieve the most favourable conditions in terms of quality, timeliness and price Sell Stakeholder management Strategize Category Management Deliver Sourcing / Operational Procurement 70

71 Contracts for Alvheim FPSO operations Number of contracts just over 100 contracts 2015 Alvheim opex procurement: Main commodity groups Valves and PSV`s Instrumentation Mechanical spares (pumps, motors, generators) Electrical components Tools and hardware 71

72 Vision for the Alvheim FPSO portfolio Category Management Realize synergies with Ivar Aasen portfolio Bundling of contracts Best practice transfered to Ivar Aasen Reduce the gap between Alvheim and Ivar Aasen portfolio Alvheim Ivar Aasen 72

73 73

74 Agenda Registering og kaffe :30 Velkommen og dagens program Lars Petter Hoven HMS Aage Ertsgaard Det norske - et fullt integrert oljeselskap Det norske sine forventninger til leverandører Karl Johnny Hersvik Ivar Aasen Drift Geir Hjelmeland Alvheim Drift Richard Miller Pause Organisering av anskaffelser i Det norske og kommunikasjon med leverandører Lars Petter Hoven Etablering av driftskontrakter for Ivar Aasen Brit Borsheim Henriksen Status driftskontrakter for Alvheim Kenneth Byrkjedal Lunsj Leverandør presentasjoner

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