Case Study on Fast-Track FPSO/FSO Conversion

Transcription

1 Case Study on Fast-Track FPSO/FSO Conversion Presented by: Leow Ban Tat General Manager (Commercial) Keppel Shipyard Limited

2 Organisation Structure of Keppel Offshore & Marine Operational services Technology Development Procurement Design & Engineering Houston Center Group Facilities Corporate services Finance Legal Human Resource Information Services Corporate Development Overseas Operations Offshore Shiprepair & Conversions Shipbuilding iamfels ifels SETAL / BrasFELS icaspian Shipyard ioffshore & Marine ikeppel Philippines Marine iarab Heavy Industries ikeppel Verolme ikeppel Kazakhstan

3 Market Presence NORWAY THE NETHERLANDS BULGARIA KAZAKHSTAN USA AZERBAIJAN UNITED ARAB EMIRATES VIETNAM CHINA PHILIPPINES HEADQUARTERS BRAZIL 16 OPERATIONAL CENTRES 5 ENGINEERING R&D CENTRES 3 REPRESENTATIVE OFFICES 4 MARINE SERVICES SINGAPORE AUSTRALIA

4 Strategic Location of Keppel s yards in Singapore Coast Guard Army KS (Benoi) KOM KS HQ (Tuas) Navy KS (Gul) KFELS

5 Keppel Shipyard is the Pioneer and Leader in FPSO & FSO Conversions

6 he Latest Delivery of Fast Track FPSO Conversion FPSO Marlim Sul Delivered in 11 months Arrival April 2003 Departure March 2004 Production: 100,000 bopd Storage: 1,600,000 barrels 270,000 DWT October 2003

7 Conversion Track Record : FPSO/FSO 1) FPSO II 1981 Tanker to FPSO 25) Whakkaropai 1996 Tanker to FPSO 2) Afran Ocean 1982 Tanker to FSO 26) Endeavor 1997 Tanker to FSO FPSO II 3) Afran Zenith 1982 Tanker to FSO 27) Armada Perkasa 1997 FSO to FPSO 4) Bon Bateau 1983 Tanker to FSO Pioneer 28) Erawan in FPSO/FSO 1997 Life Conversion Extension of FSO 5) Afran Zodiac 1983 Tanker to FSO 29) Dampier Spirit Tanker to FSO 6) KRYM 1985 Tanker to FSO 30) Petroleo Since Nautipa Year Tanker to FPSO 7) Al Kahera 1985 Tanker to FPSO 31) Ruby Princess 1998 Tanker to FPSO 8) Nanhai Xi Wang 1986 Tanker to FPSO 32) Rangdong Tanker to FPSO 9) Jabiru Venture 1988 FPSO Modification 33) Yetagun FSO 2000 Tanker to FSO 10) Lasmo Riau 1988 FSO Upgrading 34) Espadarte FPSO 2000 Tanker to FPSO 11) Chi Linh 1990 FSO to FPSO 35) Magnolia 2000 Tanker to FSO 12) Cilacap 1990 Tanker to FSO 36) Karratha Spirit 2001 Tanker to FSO 13) Aqua Blu 1990 FPSO upgrading 37) Espoir Ivoirien 2001 Tanker to FPSO 14) Conkouati 1991 FSO to FPSO 38) Petroleo Nautipa 2002 FPSO Upgrading 15) Skua Venture 1991 Tanker to FPSO 39) FPSO Brasil 2002 Tanker to FPSO 16) Nanhai Xi Wang 1992 FPSO upgrading 40) FPSO Falcon 2002 Tanker to FPSO 17) Intan 1993 Tanker to FSO 41) ABO FPSO 2002 Tanker fo FPSO 18) Leader Ingerid Helene in 1993 FPSO/FSO Tanker to FPSV Conversion 42) FPSO Four Vanguard 2003 Tanker to FPSO 19) Jabiru Venture 1993 FPSO Upgrading 43) Caspian Sea 2003 Tanker to FSO With 47 Projects Completed 20) San Jacinto 1994 FPSO Upgrading 21) Nanhai Kai Tuo 1994 Tanker to FPSO 22) Bavi 1994 Tanker to FSO 23) Cossack Pioneer 1995 Tanker to FPSO 24) Knock Dee 1996 Tanker to Shuttle FSO 44) FPSO Serpentina 2003 Tanker to FPSO 45) Kadriah Tanker to FSO FPSO 46) Laksmiati 2003Marlim Tanker Sul to FSO 47) FPSO Marlim Sul 2004 Tanker to FPSO 48) Pattani Spirit 2004 Tanker to FSO (WIP)

8 INNOVATIVE PROCESS KNOWLEDGE BUILDING PROJECT VIABILITY CUSTOMER NEEDS Balance Approach Model Balanced approach for sustainable business model to achieve fast track FPSO/FSO conversion projects. Four main inter-related aspects: Customer needs Project viability Innovative Process Knowledge building

9 Presentation Outline: 1)Definition of Fast Track 2)The Need for Fast Track 3)Analysis of Fast Track Projects 4)Our Guiding Principle 5)Our Project Strategies 6)Balanced Approach Model

10 1. Definition of Fast Track Conversion A Fast Track Conversion is to significantly shorten the time between oil discovery to production.

11 2. The Need for Fast Track FPSO Deployment Models FPSO Operator Leased Units Redeployment Units Conversion from Trading Vessel Oil Company Owned Units New Buildings Production Typical Marginal Fields < 7 year field life Rate Fast Track improve the field development feasibility by providing early cash flows Successive wells tie-in Full Field Development Oil Discovery Year

12 2. The Need for Fast Track FPSO Deployment Models FPSO Operator Leased Units Redeployment Units Conversion from Trading Vessel Oil Company Owned Units New Buildings Production Typical Major Fields > 7 year field life Rate R 3 R 2 R 1 EPS Full Field Development Oil Discovery EWT Year

13 FPSO Brasil : SBM (Petrobras) 2002 (12 Months) Delivery Bonus National Silver Safety Award Recent Fast Track FPSO Projects FPSO Falcon : SBM (ExxonMobil) 2002 (15 Months) Espadarte FPSO : SBM (Petrobras) 2000 (10 Months) Delivery Bonus Delivery Bonus National Silver Safety Award National Certificate of Merit Safety Award

14 Recent Fast Track FPSO Projects Ruby Princess : Prosafe/Nortrans ABO FPSO : Prosafe (AGIP) 1998 (7 Months) 2002 (5 Months) Delivery Bonus Delivery Bonus National Silver Safety Award Espoir Ivoirien: Prosafe 2001 (7 Months) Petroleo Nautipa: Prosafe/Nortrans 1998 (5 Months)

15 Recent Fast Track FSO Projects Dampier Spirit FSO : Teekay 1998 (3 Months) Karratha Spirit FSO : Teekay 2001 (2 Months) Pattani Spirit FSO : Teekay 2004 (4 Months) - WIP

16 Recent Fast Track FPSO Projects FPSO Serpentina : SBM (ExxonMobil) 2003 (13 Months) Delivery Bonus Safety Bonus 2 National Silver Safety Awards

17 4. Our Guiding Principles a) Strong Project Management b) Integrated Project Management Team with Owners c) Strong Health & Safety Focus d) Strong Quality Culture e) Proactive Interface Management f) Focused & Forward Planning g) Institutionalized Project Execution Processes h) Effective Change Management i) Synergy in Engineering, Procurement and Resources j) Core-Values Driven - Can Do Attitude

18 5. Our Project Strategies a) Early Identification of Key Milestones & Critical Activities b) Relentless Effort in Ensuring that Key Milestones are Met c) Analysis of Critical Activities to Break into Parallel Activities d) Use of Zoning Concept e) Use of Potential Problems Analysis to Protect the Plan f) Shared Competency - Ride on Each Other Strength, Knowledge & Experience g) Remove bottlenecks in Project Administration & Procedures

19 Project Management Execution Process Construction Process Technology INNOVATIVE PROCESS Cost Effective Solutions PROJECT VIABILITY Upfront Involvement 6. Balance Approach Balanced approach for sustainable business model to achieve fast track FPSO/FSO conversion projects. Specialised Capability / Skill Development & Acquisition KNOWLEDGE BUILDING CUSTOMER NEEDS Engineering/ Procurement Services Four main inter-related aspects: Customer needs Technology Foresight Provider of Choice/ Customer Partnership Project viability Innovative Process Knowledge building

20 6. Balance Approach CUSTOMER NEEDS CUSTOMER NEEDS Engineering/ Procurement Services Provider of Choice/ Customer Partnership KOM Customisation of our engineering, procurement & specialist services, in meeting customers requirements and demands. Business Unit

21 Cost Effective Solutions FPSO Task Force Dedicated Specialised Teams 6. Balance Approach PROJECT VIABILITY To add value through upfront involvement and by providing cost effective solutions. PROJECT VIABILITY Upfront Involvement

22 Integrated Project Team Partnership Key Vendors/ Contractors Project Management Execution Process CAD/ CAE/CAM Construction Process Technology INNOVATIVE PROCESS 6. Balance Approach INNOVATIVE PROCESS Improvements through innovative construction processes, optimised use of materials and experienced project management team.

23 KNOWLEDGE BUILDING 6. Balance Approach Center of Excellence Keppel Professorship Specialised Capability/Skill Development & Acquisition OTD KNOWLEDGE BUILDING Technology Foresight Guided development and acquisition of knowledge & capability through technology foresight and market feedback MTD

24 Summary Balanced Approach for Sustainable Leadership in Fast Track Conversion Project Management Execution Process Construction Process Technology INNOVATIVE PROCESS Cost Effective Solutions PROJECT VIABILITY Upfront Involvement KNOWLEDGE Specialised BUILDING Capability/Skill Development & Acquisition CUSTOMER NEEDS Production Process Technology/ Engineering Technology Foresight Provider of Choice/ Customer Partnership

25 THANK YOU Jointly Prepared by: PP Tan (GM, Engineering & Development) Louis Chow (Senior Project Manager) WS Chong (Project Manager) BT Leow (GM, Commercial) Keppel Shipyard Limited