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�T E E K A Y – T H E M A R I N E M I D S T R E A M C O M P A N Y®
www.teekay.com
Teekay Petrojarl
FPSO Pioneer i Vekst
MainTech Konferansen
Trondheim 12 April 2012
2 www.teekay.com
Scope of Presentation
�Teekay Corporation
�Teekay Petrojarl
�Market
�Our Aspiration for future Growth – Developing new Technology.
�T E E K A Y – T H E M A R I N E M I D S T R E A M C O M P A N Y®
www.teekay.com
Teekay Corporation
4 www.teekay.com
Vision and Values
5 www.teekay.com
Teekay – A Global Franchise
Glasgow
London
Mumbai
SydneyPerth
Singapore
Manila
VancouverNassau
Houston
TokyoHamburg
Madrid
Trondheim
� Founded 1973 by the late Torben Karlshoej� Transnational company with over 6,300 employees worldwide� Largest tanker company by market capitalisation (NYSE: “TK”)� Fleet of over 150 vessels� Transporter of more than 10% of the world’s seaborne oil� Leading franchises in shuttle tanker and conventional tanker segments� Fastest growing independent LNG shipping company� Growing presence in the offshore sector� Recognized leader in safety, quality, and service
Aberdeen
Stavanger/Grimstad
Rio de Janeiro
Gdynia
Luxembourg
6 www.teekay.com
40 Shuttle
Tankers11
FPSO’s62 Crude Oil
Tankers
26 Gas
Tankers
9 Product
Tankers
The Teekay Fleet
Total of 153 Vessels
Terminal
5
FSO’s
Offshore Conventional
7 www.teekay.com
Business Unit Structure
8 www.teekay.com
Scope of Presentation
�Teekay Corporation
�Teekay Petrojarl
�Market
�Our Aspiration for future Growth – Developing new Technology.
�T E E K A Y – T H E M A R I N E M I D S T R E A M C O M P A N Y®
www.teekay.com
Teekay Petrojarl
The FPSO Pioneer
10 www.teekay.com
Teekay Petrojarl’s background
Pertra established -takes over 70% of PL038 (Varg field) and assumes operatorship. Continued production from Petrojarl Varg.
PGS Production, Acquired by PGS
Petrojarl Banff commences production on the Banff field.
Petrojarl Varg Acquired from Saga Petroleum
Teekay Petrojarl Acquired by Teekay
Petrojarl I, the first purposed FPSO ever ordered
1984 1995 1999 20011974
Golar Nor Offshore, spinn-off from Nordenfjelske
1998
Agreement with BP for Petrojarl Foinaven
2006 2006 - 2011
Years of change, 6 more FPSOs contracted;Petrojarl Cidade de Rio das Ostras. Petrojarl Cidade de Itajai. Petrojarl Knarr.Sevan Piranema.Sevan Hummingbird.Sevan Voyageur.
Sale of Pertra
2005
11 www.teekay.com
Teekay Petrojarl - FPSO Fleet & Customers
Petrojarl
Foinaven (BP)Petrojarl Banff
(CNR)
Ikdam (Lundin)Ikdam (Lundin)
Petrojarl
Cidade de Itajai
(Petrobras)
Petrojarl Knarr
(BG Norge)
Petrojarl Varg
(Talisman)
Petrojarl I
(Statoil)
Voyageur Spirit
(E.ON)
Voyageur Spirit
(E.ON)
Petrojarl
Cidade de Rio
das Ostras
(Petrobras)
Petrojarl
Cidade de Rio
das Ostras
(Petrobras)
Piranema Spirit
(Petrobras)
Piranema Spirit
(Petrobras)
Hummingbird
Spirit
(Centrica Energy)
Hummingbird
Spirit
(Centrica Energy)
12 www.teekay.com
Glitne
Angus
Balder
Oseberg
Troll
Hudson
Lyell
Blenheim
Kyle
Fulmar
�
�
�
�
�
��
�
�
�
Petrojarl I – Redeployments (1986 – 2012)
13 www.teekay.com
Teekay Petrojarl - Long term Operational Experience
Unit In Operation
� Petrojarl I 25 years� Petrojarl Foinaven 14 years� Petrojarl Varg 13 years� Petrojarl Banff 12 years� Petrojarl Cidade 3 years
de Rio das Ostras� Piranema Spirit 0 years (oper. from 01.12.11)� Humingbird Spirit 0 years (oper. from 01.12.11)
� Voyager Spirit 0 years (sailout Q3 2012)� Petrojarl Cidade de Itajai 0 years (first oil Q3 2012)� Petrojarl Knarr 0 years (first oil Q2 2014)
� In total 67 years
14 www.teekay.com
Status of Contracts for Existing Units
15 www.teekay.com
Scope of Presentation
�Teekay Corporation
�Teekay Petrojarl
�Market
�Our Aspiration for future Growth – Developing new Technology.
�T E E K A Y – T H E M A R I N E M I D S T R E A M C O M P A N Y®
www.teekay.com
FPSO
Market
17 www.teekay.com
FPSO – the preferred solution
18 www.teekay.com
Market - World wide FPSO Contractors
19 www.teekay.com
Market - The FPSO Market Outlook
144 Operation
39 Construction
126 Prospects
Teekay’s view is 50-60 FPSOs are likely to be contracted
2012 2012-2016
Source: International Maritime Associates March 2011
Approx. 50 % are expected to be leased
Analysts expect the FPSO fleet to grow by 126 units within the next 6 years.
However
Of Which
25 to 30 FPSOs to be bid competitively over the next 5 years.
Leaving
Conclusion
Growth potential is relative and competition will remain high in the FPSO segment over the next 5 years.
20 www.teekay.com
Scope of Presentation
�Teekay Corporation
�Teekay Petrojarl
�Market
�Our Aspiration for future Growth – Developing new Technology.
�T E E K A Y – T H E M A R I N E M I D S T R E A M C O M P A N Y®
www.teekay.com
Our Aspiration future Growth
Developing new Technology.
22 www.teekay.com
Our Aspiration – the future Growth
� Retain our position as the leading North Sea
FPSO contractor
� Redeployment of existing units (contract
extensions)
� Continuously improve Teekay Petrojarl’s track
record for Safety and Operational Excellence
� Continue to be recognized for superior project
execution and engineering excellence within the
FPSO and FSO segments
� Grow our FPSO operations in harsh weather
environments, and develop new areas of
expertise (e.g. heavy oil production)
� Grow our operations in regions outside of the
North Sea (e.g. Brazil,)
23 www.teekay.com
Organic Growth
Newbuilding or Conversion?
� Newbuilding (e.g. Current North Sea projects under development);
� Long lead time
� Potentially lower cost for harsh environment and strict legislative
regimes (e.g. North Sea)
� Potentially less risk (One stop shop)
� Conversion (e.g. Petrojarl Cidade de Rio das Ostras)
� Shorter lead time (e.g. Brazil)
� Lower cost for less strict environment and legislative regimes
24 www.teekay.com
Purpose Build FPSO
One stop shop.
25 www.teekay.com
� Tampen Basin� 110 km from shore� 410 m water depth� Closest infrastructure; Snorre (43 km)
BG Group – Knarr (Jordbaer) Block 34/3
26 www.teekay.com
A Cost Comparison – Knarr FPSO vs Hurtigruteskip
27 www.teekay.com
Conversion of an existing Tanker to a FPSO
Multiple Contractors.
28 www.teekay.com
Design Overview
Utility M
odule
Process Module
Flare KO drum
Metering
Power Generation
Expro InternationalWartsila Automation
Switchboard
Module
CCRLER
Wartsila Power GenerationRemontowa
Riser Balcony
Life Boat
Life Boat
MOBBoat
Helideck
Flare Tower
Teekay Petrojarl
Integration Work
Mooring
Mooring
Mooring
Mooring
Boiler
Crane CraneFire Pump
Fire Pump
Offloading
29 www.teekay.com
Tiro Sidon – Petrobras
� Petrobras discovered the Tiro andSídon deposits in 2009 in block BM S-40 in around 250 m of water (close toother oil discoveries Cavalo Marinho,Caravela and Estrela do Mar.
� Good quality oil (34° API) with 150MMboe of estimated recoverablereserves.
30 www.teekay.com
Strategic Growth - Acquisition
Technology driven.
� Sevan Techonology, Spread Moored;
� Marginal fields
� Ultra Deep Water
� Artic waters
� Power from shore
31 www.teekay.com
The Sevan Deal
� Acquire ownership of the Sevan units;
� Hummingbird
� Piranema
� Voyager (effective when on-going modification completed)
� 40% interest in Sevan Marine ASA
32 www.teekay.com
3 F MANAGEMENT AS
3 T PRODUKTER AS
ADRESSEAVISEN AS
AGR EmiTeamAS
AIDCOM AS
Aker Elektro AS Verdal
Aker Elektro AS, Stjørdal
ALBERT E OLSEN AS
AMENTIO DATAKJEDEN AS
APB REPORTS
APB REPORTS ADAM PETER BUTT
ARBEIDSTILSYNET
Argon Elektro AS
ARKITEKT KJETIL NORDØ
ATEA AS
AUTOFAKT AS
Autronica Fire and Security AS Trondheim
AXESS ORKLA INSPECTION AS
BAKERIET KAFE OG SELSKAPSMAT AS
Bakgården Bar og Spiseri AS
BIGTALK
Bilhuset Ola Brun AS
BIRGER L.S KOREN
BKT AS - NEXT OFFICE
BLOMSTER I BYHAVEN AS
Britannia Hotel AS
BRUSTAD BUSSTRAFIKK AS
Bryggen Gastronomi AS
BYGGMESTER INDERGÅRD OG NYPAN AS
BÅRDSHAUG HERREGÅRD AS
C.I.Pedersen AS
CAMERON SYSTEMS AS
Centrum Bowling AS
CHARLOTTENLUND SPORTSKLUBB FOTBALL
CIELO AS
CITY LIVING AS
CRENO AS
DANA 7 SEAD TASLIDZA
DELTA ELEKTRO AS
Designdata.no
DET NORSKE VERITAS AS
DET NORSKE VERITAS AS (USD)
DGM Nord AS
DITT APOTEK SOLSIDEN
Dråpen Solsiden AS
ECOXY AS
Eggen Arkitekter AS
EGON SOLSIDEN V/ AKER BRYGGE GRO AS
Egon Tårnet
ERLING HAUG AS
Ernst & Young AS, Trondheim
ERZSCHEIDERGÅRDEN AS
EXIDE TECHNOLOGIES AS AVD TRONDHEIM
EXPAT MID-NORWAY AS
Expert Norge AS Avd. Lade
Fagerhaug & Olstad AS
FAGTRYKK TRONDHEIM AS
FAVEO PROSJEKTLEDELSE AS
Takk til våre Midt-Norske samarbeidspartnere
33 www.teekay.com
FEDEM TECHNOLOGY AS
Floriss Solsiden - Pias Blomst AS
FORCE Technology Norway AS, Trondheim
FOSEN TOOLS AS
Franske Nytelser AS
FRATI CATERING AS
FRØSET ØSTRE KIRSTEN M FRØSETH
Førstehjelpservice AS
GILBERG SKILT OG REKLAMEIDÉ
GOLAR-NOR (UK) LTD
GUNNAR SAUNES V/ODIN KAPITAL AS
Gunvald Karlsen
HARALDS SELSKAPSMAT AS
HEADSPIN PRODUCTIONS AS
Heidenreich AS
Hjelp 24 BHT AS
HRAFN AS
IDE HOUSE OF BRANDS AS
INTRAPOINT AS
INTRO MUSIC AS
ITNOR Økonomi AS
IVAR GRÆSMANN DRIFT
JAN LAUGEN - ROBRYGGA LEGEKONTOR
JOSTEIN BØRLI TRANSPORT
KINNARPS AS
Klapp Media AS
Kongsberg Seatex AS
Kontor & Stempelservice AS
KRAFT - KONTORADM FORENING TRONDHEIM
Kreditorforeningen Midt-Norge
KROGH OPTIKK H. IVERSEN AS
KVILHAUGEN GÅRD AS
LADE TEKNOPARK AS
LEADERSHIP PARTNER NORGE AS
Lega AS
Leo & Co Transport AS
Libra Blomster AS
LIKE BLID AS
Lindbak AS
List og Hempe/ Glassmaker'n A
MAGNUS HALDORSSON, IDUNGÅRDEN LEGESENTER
Main Tech AS
MALVIK IDRETTSLAG SKI
MARINTEK
MARITIMT FORUM MIDT-NORGE
MASKE GRUPPEN AS
MERINVEST AS
Midnor CNI AS
MYNET AS
MØLLER BIL TRONDHEIM AS
NETTBUSS TRØNDELAG AS
NIDAROS PROFIL AS
NORDENFJELDSKE CREDITREFORM AS
Nordialog Trondheim AS
Nord-Trøndelag fylkeskommune
Norli Gruppen as
NORSK FORENING FOR TERMISKE STRØMNINGSMASKINER
Takk til våre Midt-Norske samarbeidspartnere
34 www.teekay.com
Norsk Oljelaboratorium AS
NOVA HOTELL KURS OG KONFERANSE AS
NTNU
NTNU Videre
NY GIV PERSON- OG ORGANISASJONSUTVIKLING AS
OCE-NORGE A/S
Odd Forseth AS
Offshore & Marine Hydraulikk AS
Offshore Marine Consulting
Offshore Marine Consulting (Traveling)
OLAV ANGEN, IDUNGÅRDEN LEGESENTER
Olavsfestdagene i Trondheim
Olsen Batterier
OPPDAL UTELIV AS, AVS SPISBAR
ORKLA ENGINEERING AS
Orkla konsult AS
Plenum reklameatelier
PRICEWATERHOUSECOOPERS AS
PROJECT MANAGEMENT KNUT ENGENE
PROJECT MANAGEMENT KNUT ENGENE (TRAVEL)
RADISSON SAS ROYAL GARDEN HOTEL
Reisevaksiner Trondheim AS
Rekvisitt AS
RESTAURANT CREDO
Rica Nidelven Hotel
ROAR ANDERSEN, PROSJEKTRÅDGIVNING
ROLF BØRRESEN CONSULTING
ROM TIL ROM DRIFT AS
Rosenborg Bakeri A/S
ROSENBORG KROM NIKKEL AS
ROXAR ASA (GBP)
Safetec Nordic AS
Scandic Solsiden
Ship Manoeuvring Simulator Centre AS
SINTEF
SINTEF ENERGI AS
SINTEF ICT
SKIPNES KOMMUNIKASJON AS
STAR INFORMATION SYSTEMS AS
STAR INFORMATION SYSTEMS AS (EUR)
STATKRAFT VARME AS
Stjørdal Kommune
STOKKØYA SJØSENTER AS
SYSTEMVASK AS
SØLVIKS DELIKATESSER AS
SØSTRENE KARLSEN AS
Teekay Petrojarl Production AS
Telenor Mobil AS
TELIASONERA NORGE AS (NETCOM AVD SOLSIDEN)
TELTSPESIALISTEN AS
Terje Olsen Data Design
To Rom og Kjøkken
TRENINGSINSTRUKTØR AS
TROMAS AS
Takk til våre Midt-Norske samarbeidspartnere
35 www.teekay.com
TRONDHEIM HAVN
TRONDHEIM LÅSSERVICE AS
TRONDHEIM TURBUSS AS
TRØAN CONSULTING Elisabeth Trøan Johansen
TRØNDERENERGI NETT TRONDHEIM AS
Trøndertaxi AS
TS PARTNER UNDERHOLDNING AS
UKA-11
UMOE IKT AS
VIA TRAVEL TVETE AS
Vinjes Transport AS
VIRTUALWORKS AS
VISIONTECH AS
VITAL FORSIKRING ASA TRONDHEIM
VITAL PEKON AS
Wenaas Trondheim
Wennbergs Trykkeri AS
WISE ONLINE SERVICES AS
Wittusen & Jensen
x BIGTALK ANS (USE 252669)
x TELEBUTIKKEN HOLDING AS AVD SOLSIDEN (253173)
XTronica AS
YIT AS
Øien & Indergaard AS
Øwre-Johnsen AS
ØWRE-JOHNSEN AS (EUR)
Takk til våre Midt-Norske samarbeidspartnere
�T E E K A Y – T H E M A R I N E M I D S T R E A M C O M P A N Y®
www.teekay.com
Takk for oppmerksomheten ☺☺☺☺
