Frigstad Discoverer Invest Ltd. - otc.nfmf.nootc.nfmf.no/public/news/5801.pdf · © Frigstad Discoverer Invest Ltd. ... fHe has a degree in Petroleum Engineering and started his carrier

Frigstad Discoverer Invest Ltd.

February 2007

SS Frigstad Oslo

© Frigstad Discoverer Invest Ltd. | Investor Presentation | 1 February, 2007 2

DisclaimerThis document must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.

This document is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by Frigstad. The sole purpose of this document is to assist the recipient in deciding whether it wishes to proceed with a further investigation of Frigstad and its securities. This document is not intended to form the basis of any investment decision and should not be considered as a recommendation by Frigstad or any Arranger or any other person to purchase any securities. This document does not constitute an offer to sell or an invitation to purchase any securities.

In preparing this document Frigstad has relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to it or otherwise reviewed by it. The information contained in this document has been taken from sources deemed to be reliable. Frigstad can not represent that such information is accurate or complete and it should not be relied on as such. Any opinions expressed herein reflect Frigstad’s judgment at this date, all of which are accordingly subject tochange. Technical details and data may in many cases be preliminary or subject to change or received from other third party sources without verification, and should therefore not be used for any other purposes than mentioned in this disclaimer.

Accordingly, this information is being supplied to you for information purposes only and not for any other purpose. This communication and the information contained in it do not constitute or form any part of an offer of, or invitation or inducement to apply for, securities.


Frigstad Discoverer Invest LtdStatus February 2007

•Jan 06-Building contract signed with Yantai Raffles Shipyard

•April 06-Contract effective YRS

•90% of Owner Furnished Equipment (OFE) secured

•Dec 06-Amendment to contract with YRS


SS Frigstad Oslo Project Status – February 2007

Yard price at Yantai Raffles Shipyard increased by USD 11 mill. in December 2006, from USD 240 mill. to USD 251 mill., with additional incentives of USD 12 mill. for timely delivery.

Total revised project cost, before further financing, is USD 533 mill.

Delivery of rig changed from April 2009 to September 2009.

All required equity in place in 2006 (USD 240 mill.). Process for full financing started.

About 90% of all Owner Furnished Equipment (OFE) ordered.

Organization strengthened. All Project key personnel in place.

Option for 2nd rig expires 5th April 2007, while option for 3rd rig expires 5th

October 2007.


Confidential

Harald FrigstadChief Executive Officer

More than 30 years of offshore drilling and rig design experience of which six years as rig superintendent on semi-submersible drilling rigs

Mr. Frigstad is the founder of Frigstad Offshore Drilling Pte. Ltd. and has served as CEO since inception in 1989

From 1987 to 1989, Mr. Frigstad was co-founder of Viking Offshore Drilling and was responsible for upgrading and operations of two drill ships

In1987, Mr. Frigstad was Drilling Advisor on rig design for Norwegian Rig Consultants AS. From 1985 to1986, Mr. Frigstad was Operations Manager for the drillship Compass Driller

Pål NorheimChief Technical Officer

Mr. Norheim has more than 25 years of drilling related experience, both fromdrilling engineering and operations, drilling equipment and rig design, and deepwater drilling technology

He has a degree in Petroleum Engineering and started his carrier as a Drilling Engineer for Mobil Exploration Norway Inc in 1980. For 9 years he served at Norwegian Rig Consultants as a Drilling Manager / Project Manager

Mr. Norheim have held senior positions with other companies like Unit Rig AS and Maritime Hydraulics AS (the companies merged during the period), BentecNorway (Deutag Group), Kitron AS, and latest 5 years as CEO for Atlantis Deepwater Technology

Bjørn C JacobsenChief Financial Officer

CFO of seismic company Exploration Resources ASA, having led a successful IPO in 2005, and held this position until the company was acquired by CGG

14 years of experience as oil services financial analyst followed by several years as a business consultant

Mr. Jacobsen holds an MBA from the Norwegian School of Business Administration (NHH 1984) and is a Certified European Financial Analyst (CEFA)

Management


Best-in-class ultra deepwater drilling rig

12.000 ft water depth capacity (10.000 ft drilling riser ordered)

50.000 ft drilling depth capacity

8100 mT variable deck load capacity and large deck area.

2 x 1000 sT Dual RamRig

Vertical set-back capacity for 10.000 ft of drilling riser and 50.000 ft of drill pipe

SS Frigstad Oslo


Market

Deepwater Fixtures

Source: ODS-Petrodata and Pareto Securities ASA


Agenda

New Schedule

Project Merits Project Merits

Myth busterMyth buster

OrganizationOrganization


What Happened in Q4 2006?1. Late delivery of drawings and assertion of late delivery schedule for drilling package led to

a dispute with the shipyard.

• DNV-approved Main Scantling Approval (“MSA”) was delivered to Yantai-Raffles Shipyard (“YRS”) on 6-Nov-2006– approximately three months later than required by the YRS contract.

– The delay was caused by management’s inability to secure guaranteed delivery of engineering services from a subcontractor within the necessary time frame.

– Expectations of the subcontractor’s availability based on discussions held prior to the signing of the YRS contract proved overly optimistic as industry conditions tightened in the immediate aftermath of signing the YRS contract.

– Engineering considerations raised during discussion with DNV led to design optimization requiring more engineering time and a change to higher steel grade specifications.

• Additionally, the delivery dates achieved for certain components of the drilling package under the contract with Aker Kvaerner Maritime Hydraulics (“AKMH”) were later than those contemplated by the fabrication yard, although deemed sufficient by FDIL.

2. YRS claimed consequential delays and substantial monetary damages even though YRS previously indicated otherwise. FDIL disputed that.

3. After evaluating all possible options, the board approved the settlement of the dispute between YRS and FDIL on December 1st, 2006.

Agenda > New Schedule > What Happened in Q4 2006?


Impact of RevisionsDelivery date extended by 5 months to September 4th, 2009.

Contract price increased by USD 11m to USD 252m

Additional USD 12m incentive payments to YRS

• Payment conditional upon major milestones being reached on time and budget.

Delay causes increases in cost for project management, and site supervision (23.3m) due among others to increased staff

Project is back on track with increased safety margins for meeting construction milestones and ultimate completion.

Agenda > New Schedule > Impact of Revisions


Basic Engineering/Procurement of Equipment

Detailed Engineering

Construction

Contract Effective(April 5th, 2006)

MSA Delivery(November 6th, 2006)

Addendum #2(December 1st, 2006)

Delivery(September, 5th, 2009)

Mating of Deck Box and Columns using

Giant Crane

New Construction Schedule

Sea trial

Agenda > New Schedule > New construction Schedule

Production Engineering

Mechanical completion and commissioning

Steel cutting starts(September, 7th, 2007)

First Erection(April, 1th, 2008)


Comments on the YRS Contract RevisionsThe delay in contractual delivery date and associated cost overrun USD 30m is disappointing to shareholders and management.

However, the new contract provides increased certainty of successful construction within the new time frame and improves the specification of the rig.

• The new time frame is more realistic given the developments in the major equipment suppliers and the yard after the effective date of original YRS contract. Should help to avoid delay and change orders in later stages of construction, especially after the start of fabrication, which could be much more costly.

• The revision contains numerous incentives for the yard to reach defined milestones. It also sets up adequate protection for possible worst case scenario.

Agenda > New Schedule > Comments on the YRS Contract Revisions


Final Rig Design ImprovementsSeveral design improvements were made during the initial period, such as:

• Installed one more pipe handling machine (Aker MH) to further increase operational efficiency.

• Enlarged deck cranes (150Mt rating w/upgrades) to allow for more efficient handling of X-mas trees and other equipment during development drilling.

• Increased the maximum wave height criteria from “old” Gulf of Mexico standards to latest standard (23.5 vs 27 meters maximum wave height). This will increase operability of the rig for world wide operations except for very harsh environments such as the northern North Sea/Norwegian Sea.

• Enlarged pilot house and helicopter lounge in the accommodation module.

• Increased capacity of two drums of anchor winches from 450m to 1113m to comply with all DNV requirements.

Agenda > New Schedule > Final Rig Design Improvements


Steps Taken to Minimize Further DelaysMonthly detailed progress report from the shipyard will identify any emerging issues in the construction process.

• Added additional site team members with Singaporean shipyard experiences to closely monitor the day to day progress in Yantai-Raffles.

• Integrated some of owners site team members into various yard personnel groups to assist and monitor the yard work and progress.

• Weekly CEO report to the board. Tighter internal control on all issues by the management and the board. Board and management will act proactively and aggressively.

Newly-appointed Chief Technical Officer Paal Norheim adds strength to the project management team.

• Former CEO of Atlantis Deepwater Technology, founded by Statoil and Aker Kvaerner. He is well-respected and experienced in the offshore industry.

• He has assumed overall responsibility of project management together with CEO Harald Frigstad.

Agenda > New Schedule > Steps Taken to Minimize Further Delays


Close monitoring of OFEsSubstantial majority of Owner Furnished Equipment (“OFE”) are from four industry-leading vendors, which making monitoring easier.• Aker Kvaerner MH/Sub sea: Drilling package and Marine Riser

• NOV Shaffer: BOP and its control system

• Liebherr: Cranes

• Rolls-Royce Brattvaag: Winches

Equipment site team established in Kristiansand, Norway• The team is manned with personnel with considerable experience in design, delivery, purchase and operation of

AKMH equipment.

• The team also contains an experienced sub-sea engineer to monitor the progress of the BOP and Marine Risersystem.

• The anchor winches and the deck cranes will also be followed-up from the Kristiansand office.

Buffers have been reserved between vendors’ delivery dates and the corresponding OFE contractual delivery dates to the yard. • A minimum of two months transportation has been reserved for most OFE equipments, which is more than

normally required.

• Airfreight can also be used if need, as an alternative to sea-borne transportation.

Agenda > New Schedule > Steps Taken to Minimize Further Delays > Close Monitoring of OFEs


OFE Delivery Schedule

Riser JointsExternal Equipment

Q1 09

Special Joints and Handling

Tool

BOP StackMain Bulk + Drilling Control Room

Q4 08

Control System

Winches and Fairleads

Hydraulic Power Unit

Q3 08

Control System

Q2 08

Deck CraneMud PumpsQ1 08

Brackets for Fairleads

Q4 07

Marine Riser

BOPWinchesCraneDrilling Equipment

Quarter

Agenda > New Schedule > OFE Delivery Schedule


Upcoming Milestones

01-Mar-07 : Local connection points details of MSA delivered to YRS.

01-Apr-07 : First batch of steel ordered by YRS.

05-Sep-07 : Detailed design completion.

07-Sep-07 : First block fabrication start.

Agenda > New Schedule > Upcoming Milestones


Agenda

New ScheduleNew Schedule

Project Merits

Myth BusterMyth Buster



“The Move to Development is Upon Us”

After studying the relationship between exploration and development drilling in deepwater for many years, ODS-Petrodata recently concluded “The move to development is upon us”.

• “Although exploration activity is still very high… it appears to be decreasing in its relative importance, which will at some point affect the long-term market for development drilling. However, the medium-term outlook for the latter looks extremely good, which has implications for the type of work that the 19 currently available deepwater newbuilds will probably end up performing.” - The Atlantis Deepwater Report, page 8, November 2006, Volume 10, Number 11.

Focusing on development drilling is a strategy Global Santa Fe has pursued in its semisubmersible new building program.

• In fact, the rigs are named Development Driller I, II and III.

Agenda > Project Merits > Design Optimized for Development Drilling


D-90: Optimized for Development DrillingSS Frigstad Oslo will be one of the most capable deep water drilling rigs for development drilling and completion operations:

• One of the most powerful dual activity drilling packages (2 x 1000 short ton)

• Largest distance between two well centers (14.1 m) and large moon pool opening (42m x 8 m) enables maximum flexibility for development drilling operations

• Two 100 tonnes cranes for lifting of fully assembled x-mas trees.

• Large variable deck load (“VDL”) (8100 MT) and large deck space allow more sub sea equipments being handled and stored on the deck simultaneously, thus improving the efficiency of development drilling and completion operation.

– SS Frigstad Oslo is only rig in the world whose anchor winches are located within the deck structure to provide more usable deck space.

Mooring system prepared for hook-up to pre-installed taut-leg deep water mooring system, enabling DP fuel saving during long term development drilling operations.

The design has undergone extensive testing and received approval from DNV.

• DNV will supervise the construction and classify the vessel upon delivery

• Diamond Offshore and Global Santa Fe have expressed favorable opinions towards the design.

Agenda > Project Merits > Design Optimized for Development Drilling


Strategy: Not Targeting the Nordic SeasReason #1: The increased capabilities of 6th generation rigs may be

overkill for these areas while substantially increasing costs:

• Average Water Depths far below 6th generation capability:

North Sea: 94 meters (315 feet)

Barents Sea: 230 meters (756 feet)

Norwegian Sea: 1600-1750 meters (5264-5756 feet). Most drilling activities to date in <= 1500 meters (5000 feet).

• Modern 4th generation, harsh environment capable rig meets operating specifications for these areas while costing much less: This is the OffRig strategy.

Reason #2: North sea, Norwegian sea and Barents Sea are niche markets relative to the global market. Today, only 21% of world’s floater fleet works in those areas.

Conclusion: We are not targeting this very competitive but niche market.

Agenda > Project Merits > Strategy


Strategy: Not Targeting the Nordic Seas

Further Support for the Strategy:

Cancellation of Odfjell and West Navigator LOIs demonstrate competitiveness of these niche markets.

Aker Drilling day-rate demonstrates difficulty of achieving a premium even for state-of-the art Nordic Seas capability and QHSE.

Merger of Statoil and North Hydro likely to put further pressure on pricing power of rigs operating in the Nordic Seas.

Agenda > Project Merits > Strategy


Tax Efficiency

Unlike many Norwegian rig new building companies, FDIL is incorporated in the British Virgin Islands, which has no corporate tax, compared with the 28% Norwegian corporate tax rate.

Agenda > Project Merits > Tax Efficiency


Construction Cost is Cheap!Favorable project budget relative to competition due to:

• Very competitive shipyard contract price, even after revised terms.

• Major OFEs were locked in at favorable prices one year ago and market has in general only risen since.

• Rig does not have Nordic Seas specifications and design is construction friendly, thus less cost for the shipyard to build.

• Non-EPC contract, but shipyard is responsible for interface, testing and commissioning. Yantai-Raffles is well-suited for semi submersible construction.

• Budget includes 10k feet of marine riser (>= USD 50m market value) and other spare parts.

See the detailed cost comparison with Odfjell’s Deepsea Rig on the following page of this presentation:

• The price for 90% of OFEs by value has been locked in. This is not a budget but rather a contracted price list.

• The price paid to the yard and all OFEs is $118m lower for SS Frigstad Oslo than for Deepsea Rig.

Agenda > Project Merits > Favorable Project Pricing


Comparison with Deepsea Rig

Q3 2009Q4 2008Scheduled delivery date

532.5653.5Adjusted Total (adjust for marine riser)

532.5617.5Total

1017Contingency and spare parts

15.39Working capital

20.114G&A, marketing, financing fees

4.811Capitalized interest (net)

23.318Rig construction supervision fee

510Direct project costs / license fee

(10,000 feet)(1,600 feet)- (Riser ordered)

191132Drilling package/OFE

263.3406.5Shipyard contract price

Non-EPC contractEPC ContractScope of contract

Yantai Raffles ShipyardDaewooShipyard

SS Frigstad Oslo (USDm)Deepsea Rig (USDm) (budget)

Components

Agenda > Project Merits > Favorable Project Pricing > Comparison with Odfjell’s Deepsea Rig


Project Cost

USDmYantai Raffles total 263.3

YRS fixed 251.3YRS bonus 12.0

Licence fee 5.0OFE 190.7Total Rig Cost 459.0

G&A 8.1Site supervision/engineering 23.3Financing fee (equity) 12.0Realised currency loss 4.0 Other owner’s costs 11.3Contingency 10.0Total proj.cost ex.financing 527.7

Total project costsvarious components

263

5

191

59

10

0

100

200

300

400

500

600

USD

mill

ion

Contin-gency

Other ow ner costs

OFE

Design

YRS


Cheap Share Price = Good InvestmentFDIL’s shares were originally issued at USD 10 but now trade at NOK 32, equivalent to USD 5.05.

At NOK 32 NOK, FDIL’s market capitalization is USD 106m implying an enterprise value for SS Frigstad Oslo of USD 418m.

• N.B. This gives no value to the option rigs but also no value to HFM’s options. Assumes 1 USD = 6.33 NOK.

In comparison, at NOK 16.6/share, Odfjell Drilling’s market capitalization is about USD 267m, implying an enterprise value for Deepsea Rig of USD 653m (or USD 689m after adjusting for its lesser length of marine risers).

The difference in EVs stands at USD 271m. If SS Frigstad Oslo were to achieve the same EV/rig valuation, the shares would have to more than triple.

Do we think the risks of construction of SS Frigstad Oslo are so much greater that they justify the USD 271m difference? NO!!

Agenda > Project Merits > Cheap Share Price


Agenda


Merits of the projectMerits of the project

Myth Buster



Myth #1: Yantai Raffles = TroubleYantai Raffles has never built rigs before - they probably cannot… Life is complicated

enough, why bother to bring yourself more trouble?

- Senior executive of a well known drilling contractor

Myth: Yantai Raffles Shipyard cannot build a semisubmersible rig.

Fact: YRS management has extensive experience in building both jackup and semisubmersible rigs.

• True, YRS has yet to build a semisubmersible drilling rig on its premises. However, the management of YRS has.

• Majority owner, founder, executive chairman Brian Chang (former owner of PPL) built his career and reputation constructing Jackups and Semis (e.g., Transocean Cajun Express).

• A significant portion of YRS senior executives are recruited from top Korean and Singaporean shipyards

• The yard’s track record for on-time delivery is good.

Agenda > Myth Buster > Yantai Raffles


Closer look at Yantai RafflesGreat Hardware

Excellent location for shipbuilding:

• Close to other shipbuilding centers = convenient outsourcing and subcontracting

• Dry climate, no adverse weather events, no earthquakes, flat hard-rock land.

• Large and qualified workforce with good labor conditions—24/7 work possible when needed.

Most facilities are state of the art.

Numerous facilities are under construction to make the yard more efficient.

• For example, sub assembly shop, new outfitting shop and painting and blasting shop

Great Software

IBM/Dassault PLM software package is powerful:

• Used by Boeing to develop the 777.

• Greatly improves efficiency of detailed engineering:

– Can digitally simulate vessel operation and thereby verify the detailed engineering to minimize rework.

– Detailed engineering will be completed before construction starts.

• Sevan Marine’s SSP has benefited from the use of this software.

YRS is taking a leading role on a world wide basis in applying this type of advanced software.

Agenda > Myth Buster > Yantai Raffles


Its success may fundamentally change the way semi-submersibles are built.

The traditional process of building the deck box in numerous blocks, then lifting them individually to the top of pontoon columns, is inefficient.

• Creates bottleneck due to lack of adequate lifting capacity.

• Equipment and personnel are inefficient when operating at that height.

With this crane, the entire deck box will be built on the ground, then lifted to the top of the pontoon column at once.

• Potentially will save 1 million man hours and 2 months in the building process.

• These time and labor savings translate into cost savings for FDIL.

Status, Nov. 2006

The 20,000 Ton CraneAgenda > Myth Buster > Yantai Raffles > 20,000 Ton Crane

Rendering of Completed State


Yantai Raffles recently completed numerous projects in a fashionsatisfactory to the owner:

• Four regional supply vessels for BP.

– BP was impressed enough to sign an LOI for OffRig’s Offshore Pioneer (which will be the first semisubmersible rig built on YRS’s premises).

• The first ever Sevan SSP FPSO for Sevan Marine ASA.

• Safe Bristolia conversion for Consafe (now Prosafe).

• Yacht Carrier for Dockwise was successfully loaded out and floated off on Jan. 19th, 2007.

Good Track RecordAgenda > Myth Buster > Yantai Raffles > Good Track Record


Positive developments in the yard add additional certainty to quality and timely delivery:

• Armed with funding from equity raise and large order book, the yard is aggressively building up its personnel and facilities.

• CEO, COO and other executives/managers are recruited from leading Korean and Singaporean shipyards.

– They bring with them a network of specialist subcontractors which will work at YRS or from their home locations.

• Two new indoor fabrication halls were completed in two months.

Recent Positive DevelopmentsAgenda > Myth Buster > Yantai Raffles > Recent Positive Developments


Myth: A turnkey contract for the building of a semisubmersible drilling rig will eliminate the risk of delays and cost overrunsotherwise assumed by the rig owner.

Fact: Most experienced drilling contractors prefer non-turnkey contracts (e.g., DO’s upgrading of its Victory Class Semis; GSF’sDevelopment Driller I and II).

• How can this be? To understand this better, it is beneficial to have a deeper understanding of the key features of shipyard contracts, turnkey and otherwise…

Myth #2: The Turnkey ContractAgenda > Myth Buster > Yantai Raffles > Myth of the Turnkey Contract


“Turnkey” does not have a universal definition:

• A Turnkey-EPC contract usually means that the shipyard will be responsible for procurement of subsystems and for managing the integration of those systems.

• The benefit comes from that experienced shipyard potentially manages interface risk better than the rig owner.

Managing subsystem procurement and integration does not mean that the shipyard assumes all risks of delay and cost overrun.

• Risks of delay and cost overrun are transferred through the permissible delay clause, Force Majeure clause and other related clauses in the contract between shipyard and owner.

• Given the extremely large order book at most reputable shipyards, shipyards are taking substantially less risks of delay and cost overrun in the current market. (e.g., the Force Majeure clause now often contains many typical sources of delay).



Conclusions:

• Each contract is unique: an individual contract’s other clauses determine the distribution of risks between yard and rig owner, not whether it is so-called “Turnkey” or not.

• It is wrong to assume that a turnkey-EPC contract bears less construction risk than a non-turnkey contract.

• Experienced drilling contractors prefer non-turnkey contracts most of the time.



Agenda


Merits of the projectMerits of the project

Myth Buster



Harald Frigstad AS (Norwegian Private Shareholding Company) was established in 1980, and has been active since then.

HF AS’s main activity from 1980 to 1989 is in offshore rig design consultancy at several European yards, training of shipyard and operational personnel and investment in oil rig.

Harald Frigstad Engineering (HF Engineering) and Frigstad Offshore were established in Singapore in 1989 and 1990 respectively. The former carries out consultant work on offshore rig design, modification and shipyard project management. The latter is a drilling company, operating different oil rigs for various owners and oil companies.

Frigstad Offshore has operated the following rigs during the 17 year period since 1990:

• Jack Up Nordic Explorer, Jack Up Palawan Princess, Semi Sub Pioneer Driller, Semi Sub Port Magellan, Semi Sub Galaxy Driller, Drill Ship Northern Explorer 2, Jack Up Marawah, Jack Up Astra (Key Personnel), Jack Up N252 and various other units on short term or as owners representative.

The oil companies which have chartered the rigs are: • Atlantic Richfield, Philippine National Oil Company, Saudi Aramco, OXY, British Gas,

Conoco, Lukoil, PTTEP (Thailand), GFB Resources (Indonesia)

References for the Frigstad GroupAgenda > Organization > References


HF Engineering have completed numerous projects since 1989.

• Modification and upgrade engineering at Sembawang Shipyard for SS Pioneer Driller (Increase deck load and space, capacities etc.) Client: Viking Rigs.

• Docking and upgrade work at Keppel FELS Shipyard for the JU Nordic Explorer.Client :Nordic offshore

• Docking and re-activation work at Pan United Shipyard for DS Northern Explorer 2Client: Northern Offshore

• Modification and upgrade engineering at Premier Shipyard (Sin) for the SS Galaxy DrillerClient :Galaxy Drilling

• Modification and upgrade engineering for the JU Atwood VicksburgClient: Atwood Oceanics

• Provide Frigstad D70 design package, prepare bid and engineering package for Caspian Project.Client: Santa Fe Drilling Co.

• Modification and upgrade work engineering for the Semi Sub Atwood Falcon and Atwood Southern Cross.Client: Atwood Oceanics

• Provide Frigstad D80 design package, prepare bid and engineering package for UK based investor group. Client: PPL Shipyard

References for HF EngineeringAgenda > Organization > References


CEO, Harald Frigstad(Singapore)

CTO, Paal Norheim(Singapore)

Project Director, Peter Leonard(Singapore)

Project Site Manager, Walter Janssen(Yantai)

Department Manager, Lars Norheim(Kristiansand)

Project Support Manager, Dag Frigstad(Singapore)

Rig Manager, Booth Henson(Singapore)

Frigstad Management Inc.

Frigstad Discoverer Invest Ltd

Organization Chart for SS Frigstad OsloAgenda > Organization > Organization Chart for SS Frigstad Oslo Project


Organization Chart for Site TeamAgenda > Organization > Organization Chart for Site Team

Project Site ManagerWalter Janssen

Hull SuperintendentLo Boon Keong

Mechanical SuperintendentBjorn Haugen

Electrical/DP SuperintendentJohn Engdal

Marine SuperintendentTBA

Deputy Project ManagerLee T C

Project Control EngineerTan Chee Wee

Site SecretaryLily Fu

Document ControllerCathy Quan

Lead Hull EngineerChong C S

QA/QC EngineerChu Chee Heong

NDT SupervisorLau Sheau Niann

Steel SupervisorBong Kim Hua

Painting SupervisorTBA

Outfitting & Mech. EngineerLau L C

Piping EngineerTang Ru Tao

Commissioning SupervisorTBA

Electrical & Instr. EngineerTBA

VMS SupervisorTBA

Chief EngineerTBA

Quality Mgmt EngineerKetil Hauken

Commissioning SupervisorTBA


Appendix

Technical SpecificationsTechnical Specifications

Equipment picturesEquipment pictures

33--D digital MockupD digital Mockup


Specifications compared with Deepsea RigAppendices > Technical Specifications > Specifications compared with Deepsea Rig

DP Class 3DP Class 3DP Class

18 ¾ + 15,000 psi18 ¾ + 15,000 psiBOP

Unknown42 x 8Moon Pool Size (meter x meter)

16,353 24,892Liquid Mud/Brine Capacity (bbls)

158160Living Quarter Capacity (men)

52,18859,326Power Generation (horse power)

Unknown6,000Variable Deck Load (transit condition, metric ton)

7,5008,100Variable Deck Load (operating condition, metric ton)

1000/5001000/1000Derrick Lifting Capacity (short tons, two cranes)

37,50050,000Drilling Depth Rating (feet)

National Oilwell Varco 2nd Generation Dual Activity RamRig

Drilling Rig

10,00012,000Water Depth Rating (feet)

Unknown+1A1 Column Stabilized Drilling Unit

Class Notation

DNVDNVClassification Society

Deepsea RigSS Frigstad Oslo


Deck CranesAppendices > Equipment Pictures > Deck Crane


21” Clip Marine RiserAppendices > Equipment Pictures > 21” Clip Marine Riser


3-D Digital Mockup, from CATIAAppendices > 3-D digital Mockup


Anchor winches inside the deck boxAppendices > 3-D digital Mockup

Placing anchor winches inside the deck box saves valuable deck space.


Riser tension system and thrustersAppendices > 3-D digital Mockup


Deck layout, top downAppendices > 3-D digital Mockup


Port sideAppendices > 3-D digital Mockup


FrontAppendices > 3-D digital Mockup


BackAppendices > 3-D digital Mockup

Documents

Frigstad Discoverer Invest Ltd. - otc.nfmf.nootc.nfmf.no/public/news/5801.pdf · © Frigstad Discoverer Invest Ltd. ... fHe has a degree in Petroleum Engineering and started his carrier