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A Leading Oil & Gas Services Provider
September 2014 P140901
Saipem: A Leading Oil & Gas Services Provider 2
Contents
Highlights HSE and Q
Ownership
Business Model Assets: Project Execution Centres, Fleet, Yards, Drilling Units
Sustainability and Local Content
Organization
Financial Performance
Drilling
Strategy and Major Projects Under Way
Engineering & Construction
Key Achievements and Activities
Saipem: A Leading Oil & Gas Services Provider 3
Saipem Today: A Major Multicultural E&C & Drilling Contractor
> 50,000 employees from >130 nationalities
11 fabrication yards in 5 continents
Operating in more then 60 countries
29 engineering and project execution offices worldwide
Revenues
Backlog
2013 2014 guidance
December 31, 2013 June 30, 2014
12.3 B€ 13 B€
17.1 B€ 24.2 B€
approx.
Saipem: A Leading Oil & Gas Services Provider 4
A Leading Global EP(I)C General Contractor
High quality player onshore and in niches offshore
Drilling
Distinctive ‘frontier focus’ in Oil & Gas industries
Full service EP(I)C provider
Most modern, technologically advanced offshore construction fleet
Engineering & Construction
BUs Offshore, Onshore, Floaters
Saipem: A Leading Oil & Gas Services Provider 5
An impressive track record over more than 60 years
Designed and built:
More than 100 grass roots complexes, 2,000 process units
Over 130,000 km of land pipelines, sealines and trunklines
In the last decade, more than 100 offshore EPIC projects,
Engineering & Construction
Drilled over 7,300 wells, of which 1,800 offshore
Drilling
including groundbreaking deepwater achievements
Saipem: A Leading Oil & Gas Services Provider 6
Milan
Engineering Centres
Yards & Main Logistic Bases
Other Main Areas and Rep. Offices
Fano
Chennai
Paris
Global Presence with a Multilocal Emphasis (1/2)
Rome
EP(I)C Hubs
Saipem: A Leading Oil & Gas Services Provider 7
Global Presence with a Multilocal Emphasis (2/2)
(°) 31st July, 2014
Human Resources
50,591 employees of 132 nationalities(°)
United Kingdom2%
Malaysia2%
Brazil2%
Morocco2%
Angola3% Peru
3%
Saudi Arabia3%
Indonesia3%
Kazakhstan4%
France4%
Venezuela4%
Mexico5%
Canada6%
Philippines6%
Nigeria7%
India11%
Italy14%
Other <2%19%
Saipem: A Leading Oil & Gas Services Provider 8
HSEQ – Top Saipem Priority The Leadership in Health & Safety Programs
Injuries Frequency Rate
Latest New Programs:
Choose Life!
In preparation for 3Q2014 roll-out
Saipem’s non-profit organization, to sponsor HSE studies, training programs, educational campaigns, etc.
Results and methologies available to the industry
1,44 1,56
1,21
0,84 0,71 0,5 0,48 0,4
0,31 0,32 0,26
4.69
5.21
4.7
2.34 2.33
1.55 1.93
1.71
1.3 1.06 1.15
,000
1,500
3,000
4,500
6,000
0
70
140
210
280
350
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
LTI &
TR
I F
req
uen
cy R
ate
s
millio
n m
an
ho
urs
Worked Manhours LTI Frequency Rate TRI Frequency Rate
6.000
3.000
1.500
4.500
(Started in 2013)
We Want Zero!
Saipem: A Leading Oil & Gas Services Provider 9
Contents
Highlights HSE and Q
Ownership
Business Model Assets: Project Execution Centres, Fleet, Yards, Drilling Units
Sustainability and Local Content
Organization
Financial Performance
Drilling
Strategy and Major Projects Under Way
Engineering & Construction
Key Achievements and Activities
Saipem: A Leading Oil & Gas Services Provider 10
Saipem Businesses and BUs
BU Offshore BU Drilling BU Floaters BU Onshore
Engin
eeri
ng &
Constr
uction
Off
shore
O
nshore
Saipem: A Leading Oil & Gas Services Provider 11
Feasibility Studies
Technology Licenses
Project Definition
Basic Design, Front End
Start-up and Commissioning
Revamps, Upgrades, Modernization
Saipem E&C: Complete Range of EPC/EPIC Services
Engineering, Procurement, Installation, Construction
Lease and Operate Decommissioning
Emphasis on maximizing local presence and content
Superior capabilities for harsh, remote and difficult environments
Customized project and contracting solutions: EPC LSTK EPIC T&I Cost-plus Convertible Lease & Operate
Targeting even the most challenging and technologically advanced projects, offshore and onshore
Maintain and Operate Env. Remediation
Project Management
Safety, Quality Management
Saipem: A Leading Oil & Gas Services Provider 12
Saipem Drilling
International drilling contractor operating both offshore and onshore
World 10th largest contractor in offshore drilling, 2nd largest contractor in onshore drilling international markets (Excl. N. America, Russia and China domestic operators)
Specialization in deep water, harsh environments and remote areas
Completed fleet modernization and expansion: since 2008 +7 offshore
and +57 onshore rigs
offshore drilling positioning (total world: 715 units, as of Apr. ‘13)
onshore drilling positioning (total international markets*: 2.199 units including
workover, as of Dec. ‘12)
*excluding North America, China and Russia
Saipem: A Leading Oil & Gas Services Provider 13
Saipem Business Model Supply of complex solutions for even the largest and most challenging projects
Saipem 14
Saipem’s Assets: Major Engineering Centres
Saipem (Milan – Italy)
Saipem (Paris – France)
Saipem (Rome – Italy)
Saipem (Fano – Italy)
Saipem India Projects (Chennai – India)
EP(I)C HUBS
ENGINEERING CENTRES
Saipem Canada (Calgary - Canada)
Saipem (London, Aberdeen - UK)
Saimexicana (Mexico City - Mexico)
Offshore Design Engineering (London - UK)
Saipem do Brasil (Rio de Janeiro - Brazil)
Sofresid (Regional Offices - France)
Moss Maritime (Oslo - Norway)
Sairus (Moscow - Russia)
Snamprogetti Romania (Bucharest - Romania)
Saipem India Projects (New Delhi - India)
Saipem (Rijeka - Croatia)
Saipem Indonesia (Jakarta - Indonesia)
Saipem (Sharjah - UAE)
Saipem Contracting Algérie (Algiers - Algeria)
SA.LI.CO. (Tripoli - Libya)
Saipem (Vibo - Italy)
Saipem Contracting (Nigeria) (Lagos - Nigeria)
Deepwater Engineering and Technology (Luanda - Angola)
Snamprogetti Engineering & Contracting (Al-Khobar - Saudi Arabia)
Saipem: A Leading Oil & Gas Services Provider 15
PROJECT
Complexity
Guidance
Regional Engineering Centres
E&C Typical Project Execution Strategy
Major Centre leadership on large complex projects
Local leadership on small/medium projects
Saipem (Milan – Italy)
Saipem (Paris – France)
Saipem (Rome – Italy)
Saipem (Fano – Italy)
Saipem India Projects (Chennai – India)
EP(I)C HUBS
ENGINEERING CENTERS
Subcontracting
Major EP(I)C Hubs Size
Saipem: A Leading Oil & Gas Services Provider 16
Arbatax Yard - Italy
Rumuolumeni Yard - Nigeria
Pointe-Noire Yard - Republic of the Congo
Soyo Yard - Angola
Ambriz Yard - Angola
Dammam Yard - Saudi Arabia
Karimun Yard - Indonesia
Kuryk Yard - Kazakhstan
Kurik Yard, Kazakhstan
Soyo Yard, Angola
Saipem’s Assets: Fabrication Yards (*)
(*) Construction support facilities worldwide not included
Edmonton Yards - Canada
Ambriz Yard, Angola
Rumuolumeni Yard Port Harcourt, Nigeria
Guarujà Yard - Brazil
Karimun Yard, Indonesia
Guarujà Yard Brazil
Brazil New
Initiative
Edmonton Yards - Canada
Under Development
Rumaila Yard - Iraq
Saipem: A Leading Oil & Gas Services Provider
Castoro Sei
Field Development / SURF Lifting and DLB
Ultra-Heavy Lifting & Deepwater Pipelaying
Saipem 7000
Pipelaying
S355
Semac 1
Saipem FDS
Castoro 7
Castoro ll
Castoro Otto
Saipem 3000
Castorone
Saipem FDS 2
Castoro 10
Saipem’s Assets: Offshore Construction Vessels Our offshore fleet exceeds 40 units
17
Saipem: A Leading Oil & Gas Services Provider 18
Saipem 12000 Angola
Saipem 10000 Mozambique
Scarabeo 5 Norway – North Sea
Deep Water
Perro Negro 8 Italy
Perro Negro 7 Saudi Arabia
Jack-Up
Scarabeo 9 Angola
Scarabeo 8 Norway – North Sea
Saipem’s Assets: Drilling Units 17 offshore units and more than 100 onshore rigs
Heliportable Rig Ecuador/Perù
Desert Enviroment Algeria/Saudi Arabia
Kashagan Field - Kazakhstan
Onshore
Saipem: A Leading Oil & Gas Services Provider 19
Contents
Highlights HSE and Q
Ownership
Business Model Assets: Project Execution Centres, Fleet, Yards, Drilling Units
Sustainability and Local Content
Organization
Financial Performance
Drilling
Strategy and Major Projects Under Way
Engineering & Construction
Key Achievements and Activities
Saipem: A Leading Oil & Gas Services Provider
Saipem Ownership
Market Cap. € 6.8 Billion @ December 31, 2013
Listed on Milan Stock Exchange
57%
43%
Public
20
Saipem: A Leading Oil & Gas Services Provider 21
Contents
Highlights HSE and Q
Ownership
Business Model Assets: Project Execution Centres, Fleet, Yards, Drilling Units
Sustainability and Local Content
Organization
Financial Performance
Drilling
Strategy and Major Projects Under Way
Engineering & Construction
Key Achievements and Activities
Saipem: A Leading Oil & Gas Services Provider 22
(B€) Financials
Revenues New Contract Acquisitions
3.86
5.32
10.1
3.19
0.31
3.51
7.3
0.44 0.47
10.3
4.83
4.34
0.55
0.57
11.2 0.69 0.75
5.24
4.49
3.46
9.3
5.13
0.47
0.42
0.26 0.37
5.95
5.08
12.6
0.74
0.83
13.4
6.18
5.36
0.75 1.09
12.3
4.93
5.4
0.76 1.2
3.2
1.9
0.34
0.56
6.0
2006 2007 2008 2009 2010 2011 2012 2013 H2014
4.49
13.9
10.7 0.64
6.07
4.38
3.50 3.65
9.9
3.67
0.34
5.09
12.9
7.74
4.60
11.9 0.27 0.33
7.52
0.58 0.59
1.20
0.76
1.64
2.23
12.5 0.59
0.78
5.01
6.13
13.4
3.97
7.48
0.92 1.03
10.7
2.57
5.78
0.91 1.40
13.1
8.24
4.33
0.42 0.14
2006 2007 2008 2009 2010 2011 2012 2013 H2014
Backlog
19.1
9.20
4.68
3.78
7.05
4.22
15.4
2.25
5.43
18.7
8.04
3.42
3.76
5.54
10.54
20.5
12.9
6.06
4.18
3.35 1.46
1.49
1.06
0.70
0.38
6.60
9.60
20.4
3.30
0.91
8.72
6.7
19.7
3.24
1.08
17.1
4.11
8.32
3.39
1.24
2006 2007 2008 2009 2010 2011 2012 2013 H2014
13.37
6.55
1.31
24.2
2.97
Saipem: A Leading Oil & Gas Services Provider 23
Major Global E&C Companies in Oil & Gas Markets Revenues in 2013 (B €)
Saipem: A Leading Oil & Gas Services Provider 24
Balanced Exposure to Oil & Gas Industry: Backlog Analysis
40%
49%
6%
5% North Africa
Europe
America
West Africa
CIS
Asia Pacific Majors/Supermajors
National
Independents
Others
BY GEOGRAPHIC AREA BY CLIENT
Middle East
Saudi Arabia
Kazakhstan
BY COUNTRY WITH MAJOR ’LOCAL-CONTENT’ FOCUS
Total Backlog as of June 30, 2014 = 24.2 B €
Nigeria
Angola
Other
Canada
21%
11%
10% 6%
33%
2% 17%
20% 6% 12%
19%
2%
1% 40%
Brazil
Saipem: A Leading Oil & Gas Services Provider 25
Contents
Highlights HSE and Q
Ownership
Business Model Assets: Project Execution Centres, Fleet, Yards, Drilling Units
Sustainability and Local Content
Organization
Financial Performance
Drilling
Strategy and Major Projects Under Way
Engineering & Construction
Key Achievements and Activities
Saipem: A Leading Oil & Gas Services Provider
Company Organization
A. Chiarini
Chief Financial and Compliance Officer (CFCO)
G. Almandoz
Internal Audit Human Resources, and Organisation
D. Gallinari
A. Careddu
Quality
D. Brkic
Business and Technology Development
S. De Sanctis
Health, Safety, Environment
and Sustainability
Chairman of the Board
F. Carbonetti
Chief Executive Officer (CEO)
U. Vergine
E. Mandraffino
Public Affairs and Communications
G. Caselli
Chief Operating Officer (COO)
A. Riva
Integrated Risk Management
P. Formica
Procurement, Contract and
Industrial Risk Management
26
Saipem: A Leading Oil & Gas Services Provider
Saipem Operations
27
COO
G. Caselli
BU Offshore
S. Porcari
BU Onshore
E. Magnani
BU Drilling
E. Palliotto
COO office
BU Floaters
F. Pallavicini
P. Barclay
Engineering, Technologies & Commissioning
A. Cipelli
Project and Post Order
Management
A. Gebbia
Regional
Manager
Europe & North Africa
J. L. Chassagne
Regional
Manager
C.I.S. & Caspian Sea
a.i. G. Caselli
Regional
Manager
Central Africa
G. Surace
Regional
Manager
Southern Africa
L. Furini
Regional
Manager
Middle East
G. Secchi
Regional
Manager
South East Asia &
Oceania
G. Martelli
Regional
Manager
North America
V. Testaguzza
Regional
Manager
South America
L. Cattedri
Saipem: A Leading Oil & Gas Services Provider 28
Contents
Highlights HSE and Q
Ownership
Business Model Assets: Project Execution Centres, Fleet, Yards, Drilling Units
Sustainability and Local Content
Organization
Financial Performance
Drilling
Strategy and Major Projects Under Way
Engineering & Construction
Key Achievements and Activities
Saipem: A Leading Oil & Gas Services Provider 29
Local Content Maximization
A cornerstone of Saipem’s business philosophy
Develop/invest in local project execution centres
Project Management
Engineering
Procurement and Subcontracts with Local Suppliers
Prefabrication Yards
Local hiring
Training, know-how transfer
Local partnerships
HSE, medical training and assistance
Creation of long-term social and economic value
Development of local skills Effective engagement of all stakeholders
Objective: deeply rooted local sustainable presence
Local employees:
>70% of total
From more than 130 nationalities
In more than 60 countries
29 engineering and project execution
centres
11 local prefabrication
yards
Saipem: A Leading Oil & Gas Services Provider
Historical Local Presence: Saipem in Nigeria - Since the 1960s
Personnel employed in Saipem Nigeria Ltd.
Rumuolumeni Base, Saipem prefabrication and construction support yard at Port Harcourt
Okwori Field Development Scarabeo 3 - Addax
16.4 Km
15.4 Km
17.4 Km
Tunu: site camp
Southern Swamp AG Solution SPDC
Recently awarded
Em
plo
ye
es
Egina Field Development- Total Upstream Nigeria Ltd.
30
EP(I)C contracts with as many local resources as possible Recently awarded
In construction
Saipem: A Leading Oil & Gas Services Provider
Expanding Local Presence: Saipem in Canada
Full service project execution centre, with international reach
Upstream Pipelines Refining Oil sands processing Shale gas
31
Husky Oil, Sunrise Oil Sands Project, Central Processing Facilities
CNRL Horizon Upgrader Phases II and III
From 5 employees in 2007 to > 1,500 currently (of which 700 engineers)
Mastered exacting local project execution requirements
Climate impact Modularization Pioneered new entry mechanisms for foreign labor Completed own prefabrication yards
The only real local EPC contractor in Alberta, with full control of the entire work sequence and risk assumption
Business model based on EPC
Innovative contractual and risk management schemes, new for the Canadian market
Major projects under way:
Saipem: A Leading Oil & Gas Services Provider 32
Expanding Local Presence: Saipem in Iraq
Sajer, a JV with local partners, registered in Iraq since 2009
Rumailah Camp Facilities
Sajer Assets: Baghdad Head Office (Int. Zone)
Rumailah: Camp, Logistics Base, Prefab Yard, Training Centre, Laydown Yard, Batching Plant
Sharing people and assets with Saipem ME facilities
Drilling Operations
Technical service agreement to support Iraqi drilling company
4 EPC contracts for water treatment, processing plants and pipelines for ExxonMobil Iraq Ltd.
First projects under way
Khor Al-Zubair Fertilizer Plant Rehabilitation
Iraq Crude Oil Export Expansion Project Phase 2, Basra Oil Terminal, South Oil Company
Umm Qasr Marine Terminal rehabilitation, Inlet Booster Compression Station and other projects for Shell/Basra Gas Company
Central Metering and Manifold Platform Loadout – Iraq Crude Oil Export Expansion Project, South Oil Company
Saipem: A Leading Oil & Gas Services Provider
From occasional contractor to permanent player
8 major deepwater EPIC projects underway
One Leased FPSO in operation offshore Vitoria
3 rigs deployed for onshore drilling
Guarujá Yard FPSO Cidade de Vitoria
• Guara & Lula NE Pipelines • Lula NE – Cernambi
New flagship Saipem FDS 2 vessel, ideally suited for Pre-Salt ultra-deepwater project execution
(Picture of Saipem FDS 2 vessel that will perform the offshore activities)
Investing in Local Presence: Saipem in Brazil
Rio Polimeros Chemical Complex (completed in 2005)
Application of highly specialized ultra-deep water fleet
33
Rio Engineering Centre Under development: scheduled completion to support recently
acquired projects
Developing new Guarujá Yard and Engineering Centre in Rio
Within the industrial hub of Santos, the largest port and industrial area in Brazil
Strategically located to support development of new ultra-deep water Pre-Salt fields
Fabrication of subsea and floating structures and supply of support services to the specialized fleet and project execution
EPIC contracts for the Lula Norte, Sul and Extremo Sul Projects
Lula Extremo Sul Project
Saipem: A Leading Oil & Gas Services Provider 34
Contents
Highlights HSE and Q
Ownership
Business Model Assets: Project Execution Centres, Fleet, Yards, Drilling Units
Sustainability and Local Content
Organization
Financial Performance
Drilling
Strategy and Major Projects Under Way
Engineering & Construction
Key Achievements and Activities
Saipem: A Leading Oil & Gas Services Provider
Oil Refining
IGCC Integrated Gasification and Combined Cycle
Oil & Gas Drilling, Production and Processing
Pipelines
Petrochemicals
Gas-to-Liquids
LNG Regasification
Power
Gas-to-Solids
Gas Liquefaction
Environment & Renewables
Maintenance & Operations
Infrastructures
Maritime Works
Upstream
Subsea Field Development
Drilling
Floaters
Sonsub Remote Subsea Technologies
Offshore Fixed Facilities
Onshore
Offshore Oil Oil
Gas Gas
Excel in all steps of the oil & gas value chain, onshore and offshore, as well as in selected diversified businesses
Saipem Strategy
Downstream
Industrial
Saipem: A Leading Oil & Gas Services Provider 36
Sonatrach - LNG GL3Z
Arzew, Algeria
CNRL Horizon Secondary Upgrader, Phases II and III - Canada(Picture of CNRL – Phase I)
Chevron, LNG Loading Jetty Gorgon - Australia
Southern Swamp Associated Gas Solution SPDC Nigeria
Federal Railways Etihad Rail - U.A.E.
Mega-projects Under Way, Onshore
Abu Dhabi Gas Development Co., U.A.E. Shah Gas Development Program-EPC Packages 2, 3, 5
Gladstone LNG Pipeline, Australia(Pictured)
Shedgum-Yanbu Pipeline, Saudi Aramco, Saudi Arabia South Caucasus Pipeline, Azerbaijan - Georgia
Benisede
Tunu Okupushi
Ogbotobo
Socar & Turcas Aegean Rafineri - Turkey (Vision 2023)
Recently Awarded
Phase III Recently Awarded
Jizan Refinery Pckgs 1&2, Saudi Aramco, Saudi Arabia
Fertilizer Complex Dangote Fertilizer Ltd.,
Nigeria
EPDM Rubber Plant Versalis, Italy
Recently Awarded
Recently Awarded
Recently Awarded
Recently Awarded
Saipem: A Leading Oil & Gas Services Provider
Shah Gas Development Project Abu Dhabi Gas Devel. Co. Ltd. United Arab Emirates
Tout Lui Faut Refinery Expansion Staatsolie Suriname
LNG GL3Z Arzew Sonatrach Algeria
Independent Power Plant at Afam Rivers State Gov. Nigeria
Regasification Terminal Polskie LNG Company Poland
EPDM rubber plant expansion VERSALIS Italy
Major EPC Projects Under Way, Onshore High Speed Railway RFI Italy
Horizon Oil Sands Canadian National Resources Ltd. Canada
Shell Petroleum Development Otumara-Saghara-Escravos Gas Pipeline Nigeria
Federal Railways Etihad Rail United Arab Emirates
Safco V Urea Plant Safco Saudi Arabia
SSAGS Facilities SPDC Nigeria
Topolobampo Gas Pipeline Transcanada Mexico
Rabigh II Complex Saudi Aramco/Sumitomo Saudi Arabia
Ammonia and urea production complex Dangote Fertilizer Ltd Nigeria
Zubair Gathering System ExxonMobil Iraq
STAR Rafineri A.S. Grassroots Refinery Turkey
West Qurna ExxonMobil Iraq
Shedgum Yanbu Pipeline Loop 4&5 Saudi Aramco Saudi Arabia
Jizan Refinery, Packg.s 1 and 2 Saudi Aramco Saudi Arabia
Litchendjili gas treatment plant Eni Congo Congo
37
Saipem: A Leading Oil & Gas Services Provider 38
Sapinhoa Norte and Cernambi Sul Guara & Lula NE Export Pipelines-
Brazil (Pictured)
Mega-projects Under Way, Offshore and Floaters
Ichthys Gas Export Pipeline
Australia
Liwan 3-1 Field - China (Picture of the Saipem FDS 2 vessel that will perform the offshore activities)
First Deepwater Field Developed in the South China Sea
Lula Norte, Lula Sul, and Lula Extremo Sul Pipelines and Riser Systems P55 – Brazil (Pictured)
Petrobras, Brazil Pre-salt Projects
Recently Awarded
Egina Field Development, Total, Nigeria
Al Wasit Gas Program Saudi Arabia
Castoro Otto
Recently Awarded
South Stream Offshore Pipeline, Black Sea
Recently Awarded
Shah Deniz Stage 2, BP Exploration, Azerbaijan
Recently Awarded
Saipem 7000
Castoro Sei
FPU for Jangkrik Complex Project Dev.
Eni M.B., Indonesia
Just Awarded
Two FPSOs for Kaombo Field Dev. Project, Block 32 Total, Angola
Just Awarded
Saipem: A Leading Oil & Gas Services Provider
Major EPIC and T&I Projects Under Way, Offshore and Floaters Various platform and pipeline installations North Sea
South Stream Pipeline South Stream Transport B.V. Russia-Bulgaria
Basra Oil Terminal Expansion South Oil Company Iraq
Chirag Oil Project AIOC Azerbaijan
Al Wasit Gas Program Arabiyah and Hasbah fields development Saudi Aramco Saudi Arabia
Ichthys Gas Export Pipeline INPEX Australia
Filanovsky Field Export pipelines and T&I activities Lukoil Russia
Long Term Agreement Offshore Maintain Potential Program Saudi Aramco Saudi Arabia
Girassol Resources Initiative Topside modifications Total E&P Angola Angola
Congo River Crossing Pipeline Project Cabinda Gulf Oil Co Republic of the Congo
P55 Steel Catenary Risers and Flowlines Petrobras Brazil
FPSO Cidade de Vitoria Petrobras Brazil (Leased - in operation)
Guara & Lula NE Export Pipelines Petrobras Brazil
Dragon - CIGMA Gas Pipeline PDVSA Venezuela
Sapinhoa Norte and Cernambi Sul SLWR and FSHR Petrobras Brazil
Rota Cabiunas Gas Export Trunkline Petrobras Brazil
Perla EP Project J/V Eni Repsol Venezuela
Sapinhoa Norte and Iracema Sul Project Petrobras Brazil
Litoral - A Platforms Dragados Mexico
Shah Deniz Stage 2 BP Azerbaijan
Lula Norte, Lula Sul and Lula Extremo Sul project Petrobras Brazil
Kizomba Satellites Phase 2 Tiebacks Esso Angola
Bonga NorthWest Field development Nigeria
FPU for Jangkrik Complex Project Eni Muarau Bakau Indonesia
Egina Field Development Total Nigeria
West Delta Deep Marine Phase IXa Project Burullus Gas Company Egypt
FPSO Units for Kaombo Field Dev. Total Angola
FPSO Gimboa Sonangol Angola (Leased - in operation)
Mafumerira Project URF facilities Modification and tie-in s CABGOC Angola
Moho Project Subsea structures Aker Solutions Republic of Congo
Gorgon LNG Loading Jetty Chevron Australia Australia
Port of Tangier expansion TMSA Morocco
39
Saipem: A Leading Oil & Gas Services Provider 40
Saipem Drilling Business Unit: Key Utilization Data
60%
70%
80%
90%
100%
'09 '10 '11 '12
deep water floaters mid water floaters
high specs jackups
standard jackups
tender assisted
heavy rigs
medium rigs
light rigs
all fleet
60%
70%
80%
90%
100%
'09 '10 '11 '12
Utilization rate significantly higher than market average
Offshore Drilling % utilization
(2013 under elaboration)
Onshore Drilling % utilization
Saipem: A Leading Oil & Gas Services Provider 41
Scarabeo 5 (4th gen semi)
Scarabeo 8 (6th gen semi)
Scarabeo 9 (6th gen semi)
Scarabeo 6 (3rd gen semi)
S10000 (drillship)
S12000 (drillship)
Scarabeo 7 (5th gen semi)
Ocean Spur
Perro Negro 2-3-5
Perro Negro 4
Perro Negro 7
Perro Negro 8
TAD
Scarabeo 3 (2nd gen semi)
Scarabeo 4 (2nd gen semi)
deep water floaters
mid water floaters
high specs jackups
standard jackups
tender assisted
logistic bases
Saipem Offshore Drilling Fleet Deployment
Saipem: A Leading Oil & Gas Services Provider 42
Saipem Onshore Drilling Rigs Deployment
Peru (24 rigs)
Bolivia (4 rigs)
Ecuador (3 rigs)
Colombia (8 rigs)
Venezuela (28 rigs)
Congo (2 rigs)
Tunisia (1 rig)
Saudi Arabia (23 rigs)
Kazakhstan (8 rigs) Ukraine (1 rig)
Italy (1 rig)
Mauritania (1 rig)
Chile (2 rigs)
Turkey (1 rig)
Morocco (1 rig)
Saipem: A Leading Oil & Gas Services Provider 43
Contents
Highlights HSE and Q
Ownership
Business Model Assets: Project Execution Centres, Fleet, Yards, Drilling Units
Sustainability and Local Content
Organization
Financial Performance
Strategy and Major Projects Under Way
Drilling
Engineering & Construction
Key Achievements and Activities
Saipem: A Leading Oil & Gas Services Provider 44
Saudi Aramco, K.S.A.
Mega Oil Projects Upstream
Individual project values: > 2 bn $ each Last years total awards: > 10 bn $
FEED
(Cost-plus)
EPC
(Lump Sum)
With pre-agreed formulae
Flagship projects to bring huge new gas and oil production capacity on stream quickly
New “Convertible” contract structures:
Khurais Oil Field: Saipem awarded 60% of total investment
Source: Saudi Aramco (2007)
Qurayyah Sea Water Treatment
Khurais WIPS Khurais Utilities Package
Qatif Central Producing Facilities
Khursaniyah Processing Facilities
Manifa Central Processing Facilities
Saipem: A Leading Oil & Gas Services Provider 45
Other Recent Large Oil & Gas Production Project Awards
Karachaganak Petroleum Op. B.V. Kazakhstan Karachaganak Field Development Project and Export Pipeline
Sonatrach, Algeria UTBS - Crude Oil Treatment
Agip KCO, Kazakhstan Kashagan Project Phase 1
• Husky Oil, Alberta, Canada Sunrise Oil Sands Projects Central Processing Facilities
16.4 Km
15.4 Km
17.4 Km
Tunu: site camp
• SPDC, Delta State, Nigeria Southern Swamp Associated Gas Solution
Qatar Petroleum, Qatar Dukhan Field Gas Lift Project
Saipem: A Leading Oil & Gas Services Provider 46
Floating Oil and Gas Production
ExxonMobil, Erha FPSO, Nigeria
Total, Dalia FPSO, Angola
Designed and completed :
6 converted FPSOs under Lease & Operate contracts (3 in operation)
Continuously developing new concepts and top quality engineering services, including the design of more than 20 semisubmersible units.
9 new built floating production systems, including 3 large scale projects with storage capacity exceeding 2 million barrels of oil
FPU for Jangkrik Complex Project Eni Muarau Bakau Indonesia
Latest Award
Two FPSOs for Kaombo Field Development Project, Total, Angola
Latest Award
Saipem: A Leading Oil & Gas Services Provider 47
Complex Integrated Offshore Fixed Facilities
Saudi Aramco, Saudi Arabia, Al Wasit Gas Program
EPIC flagship projects:
Agip Gas B.V., Libya Bahr Essalam Full Field Development
Completed more than 100 offshore EPIC projects over the last ten years, including several challenging large-scale integrated complexes
Bahr Essalam Full Field Development: Gathering sealines, export trunklines, subsea production system, production platform
Al Wasit Field Development: Complete system, including 12 wellheads, 2 tie-in and 1 injection platforms, 200 km export trunkline offshore, 120 km onshore pipeline, service pipelines and sealines, marine works
South Oil Company, Iraq Crude Oil Export Expansion Project, Phase 2 (Picture of Castoro otto installing similar platform)
Under Execution
Under Execution
Shah Deniz Stage 2 T&I of jackets, topsides and subsea production systems and subsea structures; laying of over 360 km of pipelines; diving support services; upgrading of main installation vessels
BP, Shah Deniz Field (general layout), Azerbaijan
Latest Award
Saipem: A Leading Oil & Gas Services Provider 48
Platforms Installation
Saipem 7000 installing platform accommodation module
Installed 2.5 million tons of offshore structures
Heaviest lift record: 12,100 t integrated deck
Floatover and heavy lift techniques
Sakhalin Island, Russia, integrated deck floatover installation
Jacket launch
Saipem: A Leading Oil & Gas Services Provider 49
Subsea Deepwater Field Development
Elf Petroleum Nigeria, Usan, Nigeria EPCI of subsea system connecting 42 wellheads to FPSO, with export sealines
Designed and executed more than 20 major deepwater systems in the last ten years
Numerous high technology proprietary solutions available for risers and flowlines
Gazprom, Sakhalin 3, Russia (*) Not deepwater
Burullus Gas Company, West Delta Deep Marine Project, Egypt (Picture of Saipem FDS operations in Egyptian waters)
Currently Under Execution
Recently Completed
Under way:
Egina Field Development, for Total Upstream Nigeria Ltd. EPIC Contract for Umbilicals,
Flowlines and Riser System
Sapinhoa Norte and Cernambi Sul Project for Petrobas EPIC contract for Steel Lazy Wave Riser and Free Standing Hybrid Riser for the gas export systems
Egina Field Development - Nigeria
Latest Award
Saipem: A Leading Oil & Gas Services Provider
Sonsub Remote Subsea Technologies
Repsol, Spain, Prestige Deepwater oil recovery
Construction Services Diverless Tie-in and Pipeline Repair Systems Diving Operations Specialist Tooling & Engineering Survey & Positioning Services Dedicated fleet of 11 Construction Support Vessels
and Several ROVs
Bar Protector Dive support and construction vessel
Innovator 250 Heavy duty ROV
Deepwater sealine repair system
More than 200 subsea inspection, maintenance, repair and support services completed world-wide in the last 20 years
Deepest recovery operation of oil from tanker at 3,850 m water depth (Repsol, Prestige)
Full service deepwater intervention capabilities:
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Saipem: A Leading Oil & Gas Services Provider 51
Refining and Heavy Oils Conversion
CNRL - Canada
Eni - Isocracker Sannazzaro Refinery
Mohammedia Refinery Expansion - Morocco
36 grass-roots refineries
World-wide track record
30 hydrocrackers, H-Oil and LC Finers
In the last decade, emphasis on “Bottoms-of-the-Barrel” upgrading
Today’s focus:
Staatsolie, Suriname, refinery expansion
EST First Commercial Unit for Eni R&M
2 desulfurization and amine units for Pemex - Refinacion, Mexico
Canadian projects
Eni - EST Sannazzaro Refinery
Staatsolie Maatschappij Suriname N.V.
Reformer and Aromatics Complex for Saudi Aramco/Sumitomo - Rabigh II, Saudi Arabia
Aegean Refinery Project
CNRL Horizon Upgrader Phases II and III - FEED and EPC
212,000 BPSD Grassroots Refinery Aliaga, Turkey
Phase III Latest Award
Recent Award
Jazan IGCC Complex Saudi Aramco Saudi Arabia
15 gasifiers, plus H2, ASR, Soot Ash Removal, Sulfur Recovery and other units
Latest Award
Saipem: A Leading Oil & Gas Services Provider 52
IGCC-Integrated Gasification with Combined Cycle
Significant interrelationships EPC/Project Financing requirements
Designed and built the two world largest IGCC plants 0n stream
GE (then Texaco) and Shell technologies
Integration of many technologies and proprietary equipment
Designing and building the world largest gasification project Saudi Aramco Jazan IGCC
ISAB, Priolo - Italy
512 MWe
Sarlux, Sarroch - Italy
550 MWe
Contributed to technology optimization and development (E.g. Reactor redesign)
Eni R&M Sannazzaro - Italy
250 MWe
Feed
Quenchwater
Syngas
Soot water
VaporOxygen
Feed
Quenchwater
Syngas
Soot water
VaporOxygen
15 gasifiers, plus H2, ASR, Soot Ash Removal, Sulfur Recovery and other units
New grassroots refinery in Jazan, KSA
Latest Award
View of a tipical Sulphur Recovery Unit
Saipem: A Leading Oil & Gas Services Provider
Processing
Gas to Market
20 Integrated Natural Gas Complexes
Individual project values > 1 bn $
Designed and built > 200 process units
ExxonMobil, Al Khaleej Qatar
AGIP GAS BV, Mellitah Libya
Petronas, GPP - 5/6 Malaysia
QP, NGL4 Qatar
Abu Dhabi Gas Development Co. Shah Gas Development Program EPC Packages 2, 3, 5
GASCO, NGL 3rd Train U.A.E.
Close to Completition
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Saipem: A Leading Oil & Gas Services Provider 54
Onshore Transportation Systems - Pipelines
Gas to Market
Hawiyah Gas Pipeline System Saudi Arabia
Kashagan - Caspian Sea NAOC GTS4 - Nigeria
Leading global E&C contractor for oil and gas pipelines
30,000 km of oil & product pipelines 40 pumping stations (~2,100 MW)
Over 60,000 km of gas pipelines > 90 compressor stations (~3,000 MW)
1,400 km of water pipelines 11 Pumping Stations (~130 MW)
Alinta - Australia
BS 160 - Kuwait
BS 171 - Kuwait
Complete Shedgum-Yanbu Gas Pipeline for Loops 4&5, Saudi Aramco, K.S.A.
Latest Award South Caucasus Pipeline Azerbaijan – Georgia Shas Deniz Consortium
Latest Award
Saipem: A Leading Oil & Gas Services Provider 55
Gas to Market Offshore Pipeline Systems
Nord Stream Gas Pipeline – Baltic Sea 1224 Km, 48’’
Leader in deepwater and shallow water pipelaying: laid over 35,000 km of sealines
Designed and laid the most challenging offshore pipelines since the 70s
Numerous complex mega-projects under way in Brazil, Australia etc.
New state-of-the-art, high productivity Castorone pipelaying vessel for very large diameter pipes in sub-arctic conditions and in deep waters
South Stream Offshore Pipeline System, up to 4 lines, 931 km, depths up to 2200 m across the Black Sea
• Inpex - Ichthys LNG Project - Australia (Picture of Castorone vessel that will perform the offshore activities)
Completed Ahead of Schedule in April 2012
Latest Award
Castoro 6 On duty for Nord Stream
Saipem 7000 To be used for South Stream
Installation underway
Saipem: A Leading Oil & Gas Services Provider 56
Flagship Integrated Mega-project: Kashagan Experimental Program
Major offshore and onshore integrated project for the production of crude oil and associated gas:
Kashagan Field
EPCI of trunklines and production flowlines
Transportation & installation of piles, flares and modular units
Fabrication of structures
Hook-up and commissioning
Drilling of multiple wells from artificial islands
Developed locally purpose-built construction fleet and unique taylor-made pipelaying techniques and equipment
Severe weather, winter sea freezing, very shallow waters
Offshore artificial islands for drilling, process and utility facilities
Oil and gas export system
New onshore processing facility
Saipem’s scope:
Saipem: A Leading Oil & Gas Services Provider 57
Flagship Pipeline Integrated Mega-project: Sakhalin II
Saipem main contractor - multibillion EPC contracts
Client: Sakhalin Energy Investment Co. (SEIC)
Very challenging logistics: Remote and inhospitable terrain T < -45°C, frost Snow storms Mountains, slopes >15°
Built over 5,000 km of temporary access roads
Start-up Dec. 2008 Shell CEO 2008 Safety Award
Oil & gas twin 780 km land pipeline system
Oil: 24” Gas: 48” > 80 MM construction man-hours Driven > 150 MMkm
Several segments of sealines and subsea power and communication cables
Offshore transportation and installation of two massive integrated platform decks
Saipem: A Leading Oil & Gas Services Provider 58
LNG – NG Liquefaction
Gas to Market
1st multi-billion $ contract as Main
Contractor to design and execute a
world class
4.7 MTPA LNG project
Arzew - LNG GL3Z - Algeria
NLNG, Bonny Island - Nigeria, Trains 1÷6 EPC / Train 7 Plus RasGas, Ras Laffan - Qatar EPC Trains 3÷5
To date, designed and built 9 LNG trains,
35 MTPA total capacity
Major synergies with Saipem’s
long-standing experience and
capabilities in marine works and
LNG tankage
Close to Completition
Several FEED projects under way for
major new projects in Canada,
Mozambique etc.
Saipem: A Leading Oil & Gas Services Provider 59
LNG Import / Storage / Regasification
LNG Import Terminal Chengtoujiao, Guangdong - China
Canaport LNG - Canada
Extensive proprietary technology and expertise
Designed and built:
Pioneer in new technologies for treatment, storage, handling of liquefied gas
12 world scale LNG terminals More than 40 LNG tanks
LNG Import Terminal Zeebrugge - Belgium
Gas to Market
Fos Cavaou Marseille - France
Polskie LNG Terminal Swinoujcie - Poland
Under Construction
Saipem: A Leading Oil & Gas Services Provider 60
Floating LNG – Regasification and Liquefaction
First FSRU worldwide positioned offshore
Combining onshore and offshore engineering and construction competencies with the emerging conversion / new built floating LNG market
Several designs and FEED studies developed and under way
Significant R&D effort way
Broadwater FSRU, USA, pre-FEED and ITT preparation
Azure, Deepwater LNG FPSO for mild environments, Joint Industry Project
Petrobras, LNG FPSO, FEED
OLT, FSRU Toscana, Italy
Floating Hose Development with Trelleborg
Saipem: A Leading Oil & Gas Services Provider 61
Gas-to-Liquids
Chevron Nigeria Ltd. - Escravos, Nigeria
Sasol process to produce premium diesel from natural gas
ATR - New Syngas production technology from Haldor Topsoe
Multibillion $ contract, in JV with KBR
One of three world scale GTL projects in execution (34,000 bpsd)
Modules Fabrication in Abu Dhabi
Natural Gas + Steam
Oxygen
Syngas
Natural Gas + Steam
Oxygen
Syngas
Oxygen
SyngasGTL site - Nigeria GTL site - Nigeria Modules shipment Single module Module loading
Gas to Market
Saipem: A Leading Oil & Gas Services Provider 62
Omifco - Oman
Ammonia 2 x 1,750 t/d Urea 2 x 2,530 t/d
Ammonia 2,194 t/d Urea 3,835 t/d
Engro Chemical Pakistan Ltd. Daharki - Pakistan
Ammonia 2 x 2,300 t/d Urea 3,850 t/d
Qafco-5 - Qatar
Snamprogetti™ Urea Technology: 130 licenses world-wide
Designed and built more than 30 large
Ammonia/Urea complexes
World largest single train complexes: 3,850 t/d
3 on stream 2 in design and construction
3 in design preparation
‘Jumbo’ single train - ready! >5,000 t/d
Ammonia – Urea Complexes
World largest complex in operation >5,000 t/d
(2 trains):
Gas to Market
Urea
Urea
Urea
Dangote Complex, Nigeria
Ammonia 2 x 2,200 t/d Urea 2 x 3,850 t/d
Saipem: A Leading Oil & Gas Services Provider
Petrochemicals
Dushanzi China Ethylene
5 Ethylene 13 HD/LLDPE
Univation
Dow
ExxonMobil
Versalis
Lummus Global
Engineered and built most advanced
petrochemical plants
Access to first class technologies
10 LDPE 3 Styrene
RIO POLIMEROS, Rio de Janeiro - Brazil
Ethylene (520,000 t/y) LLDPE (2 x 250,000 t/y)
Petrochina Dushanzi Petrochemical Co. SSBR (100,000 t/y) SBS (80,000 t/y)
PE, Brindisi - Italy UNIPOL™
Qatofin - Qatar LLDPE (450,000 t/y)
Expansion of the Ethylene Propylene Diene
Monomer plant Versalis, Ferrara, Italy
Latest Award
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Saipem: A Leading Oil & Gas Services Provider 64
Power Plants
Designed and built over 10,000 MW (EPC basis)
Italy, France, Algeria, Nigeria
Ansaldo, GE, Alstom, Siemens turbines
Natural gas and syngas, combined and single cycle, combined heat and power, waste to energy
Ferrera Erbognone - Italy
Berrouaghia - Algeria Dombasle - France Ravenna - Italy Okpai - Nigeria Afam - Nigeria
Awarded 2° Train
Saipem: A Leading Oil & Gas Services Provider 65
Milan-Bologna Po river crossing
Infrastructure Italian High Speed Railway System
Milan-Verona 112 km
Basic and Front End designs completed EPC started
on Milan-Brescia stretch
Milan-Bologna 182 km
Main Contractor for Design and Construction
(Single Contract > 6 B €)
Inaugurated in 2008
Calatrava road bridge
Ruwais - Shah, Habshan (U.A.E.) 265 km
EPC Railway Track
Shah-Ruwais Railway track
Under Way
Under Way
Saipem: A Leading Oil & Gas Services Provider 66
Environment & Renewables
Business Line with core team of dedicated specialists integrated into global Saipem organization
Site Remediation Priolo - Italy
Full Environmental Services Provider:
Contaminated sites remediation
Water and waste treatment plants and management
Ecology, monitoring and emissions abatement
Developing of new environmental and renewable technologies and systems
CCS programs Electrochemical Remediaton Technology
Groundwater Treatment Plant Porto Torres - Italy
Physical Barriers at Porto Marghera - Italy
Saipem: A Leading Oil & Gas Services Provider 67
Marine Works
Shore-line facilities for onshore projects Innovative structures Optimization of overall facilities
layout In-house specialist expertise:
Ports & Container Terminals
Waterfront Developments
Jetties & Berths Breakwaters
Oil & Gas Marine Structures
Recent awards:
Tangier Harbour Morocco
Costa Azul Mexico
Guangdong LNG - China Callao Container Terminal, Lima Peru
Ammonia/Urea jetty, Arzew, Algeria (Sonatrach)
LNG loading jetty, Barrow Island, Australia (Chevron)
Bulk unloading and loading jetty, Sohar Port, Oman
Tangier II Port Project, Morocco (TMSA)
Pointe Noire Container Quay, Republic of the Congo
Puerto Nuevo Export Terminal, Colombia
Coastal Engineering
Structural Design
Hydraulic Testing
Foundation Engineering
Construction Methods
Melchorita LNG Peru
Saipem: A Leading Oil & Gas Services Provider 68
Offshore Decommissioning
Successfully completed 7 decommissioning projects in the last decade in the North Sea, Mediterranean and Gulf of Mexico
Flagship project example - Frigg Field Decommissioning for Total E&P Norge:
Platforms (topsides and jackets) and related subsea facilities
Project duration: 5 years up to 2010
Scope: engineering, preparation, removal, transportation and disposal
340 days of offshore activities by Saipem 7000
Removed 85,000 tons of structures
Over 2 million man-hours without LTIs
Developed innovative seafastening techniques and substructure removal methods
Saipem: A Leading Oil & Gas Services Provider 69
Maintenance, Modifications & Operations
Leverage on continuing in-country local presence
Global O&M Services around 3 main products:
1. Maintenance & Inspection Engineering CMMS, Assets register, RCM, RBI Spare parts management Training services Special studies
3. Modifications & Turnaround Projects Project management Engineering & procurement services Fabrication support from local yards Installation capabilities
2. Operations & Maintenance Long-Term Contracts
Technical expertise QHSE continuous improvement plans On-the-job training programs Local content and nationalization
Saipem: A Leading Oil & Gas Services Provider
Advanced Subsea, Offshore and Onshore Technology Development
SURF
Riser concepts : SIR, BIRD, …
Forged ends PIP
Plastic liners : FBJ
Active heating for pipe in pipe
Welding
Subsea Processing
Gas/liquid separation : Multipipe
Liquid/Liquid separation : SpoolSep
Seawater treatment: SPRINGS
Floaters
Offshore LNG offloading
FLNG technologies
Dry tree Unit (WHB)
Subsea Field Architectures
SIR Riser
SPRINGS Multipipe
FLNG tandem
offloading system
SpoolSep
SpoolSep Multipipe
Flowlines with PiP, heating,
liners, …
Process Technologies
"Zero emissions" urea synthesis
Environment and remediation control
Advanced Welding & Pipelaying
Techniques
Ultra-shallow, ultra-deep, Arctic pipelaying
Productivity acceleration
Exotic and clad materials
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Saipem: A Leading Oil & Gas Services Provider
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