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Presentation by
Glen Olivera
CEO
Equatorial
Drilling
International
12 June 2008
Offshore Support Services
(OSS)Offshore Construction Services
(OCS)
Offshore Drilling Services
(ODS)
• Marine transportation
• Charter of offshore marine
support vessels
• Provision of diving support
vessels
• Shipyard facilities
• Ship repair and maintenance
• Subsea products
• Pipelay and subsea
construction
• Subsea maintenance
• Floating and fixed platforms
installation
• Subsea field commissioning
• Supply rig and crew
• Well services
• Work over services
• Drilling and service
applications
OVERVIEW OF SWIBER GROUP BUSINESS
• Ship repair and maintenance
services
• Shipbuilding services
• Conceptual and feasibility
• Front end engineering design
• Mooring systems design
• Basic and detailed engineering
• Start up and commissioning
• Operation and maintenance
• Vessel life extension
• Subsea field commissioning
• Mooring services
• Top side construction
• Installation and operations
1996 2002 2007
Offshore Drilling Services
Equatorial Drilling International
(Singapore)
Equatorial Drilling Services
(Singapore)
90%
100%
Offshore Construction Services
Swiber Rahaman (Brunei)
Swiber Offshore (Brunei)
Swiber Offshore (India)
PT Swiber Offshore (Indonesia)
51%
100%
100%
99.5%
Swiber Marine (Malaysia)
Swiber Engineering (Labuan)
100%
100%100%
100%
Offshore Support Services
Kreuz International (Singapore)
Kreuz Engineering (Labuan)
Kreuz Shipbuilding &
Engineering (Singapore)
Kreuz Offshore Marine
(Singapore)
100%
100%
PT Kreuz Berjaya (Indonesia)49%
Equatorial Driller
(Singapore)
100%
PT Swiber Berjaya (Indonesia)
Swiber Offshore Marine
(Singapore)
Swiber Offshore Construction
(Singapore)
80%
100%
100%
Swiber Maritime (Seychelles)
Swiber Marine (Singapore)
100%
100%
Swiwar Offshore (Singapore)50%
OBT Holdings (Singapore)30%
Principia Asia Pacific
Engineering (Singapore) 49%
Raymond Goh Jean Pers Darren Yeo Francis Wong Nitish Gupta
Executive Chairman
& Group CEO
Group Senior
Executive VP -
Engineering
Group Executive VP
- Marine
Group Executive VP
– CFO and
Corporate Services
Group Executive VP
– COO, Offshore
Construction
Services
SWIBER GROUP SENIOR MANAGEMENT
Services
DRILLING DIVISION MANAGEMENT
Glen Olivera Ee Li Choo Hilmy Chung Ron Schakovsky Richard Purcell
CEO VP - Operations CFO VP - Business
Development
HSE Manager
Execution Strategy
• Build a strong team:
– Upper management team
– Drilling team
– Core operation team
– Recruitment programme
� Build strategic assets:
Building a World Class Drilling Company
Deepwater – The Next Growth Frontier Execution Strategy
– Cost-effective newbuilds – Example, ED1
– Target market fundamentals
� Build markets
– Leverage on Swiber’s existing client base
– Target appropriate deepwater markets
� Secure Contract at Premium Dayrates
� Maintain Safe and Efficient Operations
• Expand Swiber’s Competitive Advantage
– Moving up the oil and gas value chain
• Leverage on the Drilling Team’s
Capabilities
A Top Notch Drilling Team
Glen Olivera
> 35 years of drilling experience• shelf operations in West Africa & Trinidad; ERD wells in the Netherlands & California; HPHT wells in Madura Straits & Mobile Bay; and the rocky mountain regions of USA
Graham Pomstra
> 28 years of drilling experience• Has worked for major drilling contractors - Transocean, Schlumberger, Sedco-Forex, Sedco, Sedneth
One of the most productive drilling team in the world
Drilled more than 140 deepwater wells and water depths approaching 7,800ft
Significant experience working on a full range of drilling vessels, water depths & weather conditions
Track record in drilling new basins, and commercial execution
Track record in technical innovation in drilling
Choo Ee Li
> 14 years of drilling experience• Has worked for major drilling contractors and operators -Schlumberger, Unocal, Santos and Hess• Expertise in designing and executing deepwater exploration wells
Bryan Archibald
> 32 years of drilling experience• Has worked for major drilling contractors and operators - Santos, Pearl, Nippon Oil, Daewoo Int’l, IPSAA, Lapindo Indonesia, Unocal, Transocean, Sedco-Forex, Sedco
Rick Dupin
>20 years of offshore oil & gas engineering and construction experience• shallow & deepwater experience in the design, installation of offshore facilities & mooring system• Managed project teams
Equatorial Team’s Drilling Track Record
25000000
30000000
6000
7000
8000
Drilling
Costs
Water
Depth
S
S
Over 140 wells in the last 7 years, or an average of 20 wells per year
Highly efficient drilling, with virtually all well drilled within US$10 million per well
Efficient drilling attributable to:
• Excellent planning, coordination and logistics skills
• Extensive well construction and drilling knowledge
• Extensive drilling experience
0
5000000
10000000
15000000
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Well Details
Well cost
Well water depth
S
T
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S
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Well drilled using subsea BOP
Well cost includes test cost
Case Study – The West Seno Project
Case Study – The West Seno Project (cont’d)
Executing the Nucoastal Drilling Project in the Gulf of Thailand
Nucoastal’s Forward Plan
� Nucoastal is the licensed offshore concession block of G3/43
� Equatorial has been awarded a 1+1 year drilling contract
� Operation to commence within the next few months
� There is limited entry opportunities
� A great stepping stone for Equatorial
Nucoastal’s Forward Plan
A Dedicated Supervision Team for the Equatorial Driller
Nicolas Genton
> 13 years of experience in design and construction of offshore drilling rigs.• Has worked for Schlumberger, Transocean, PT Apexindo.•Involved in design and construction of semi-subs, barges and jack-up rig
Paul Antunano
>34 years of experience in drilling and construction of drilling rigs.• Has worked for Schlumberger and Transocean• Involved in drilling operations, maintenance and repair of about 50 offshore rigs worldwide
A team with common past experience
A team with vertical knowledge & experience from basic design to drilling operation.
A team with horizontal knowledge & experience (naval architecture, electricity, drilling, structure, etc.)
A team with background on various type of offshore drilling rigs: semi-sub, jack-up, tender, etc…
Track record in construction from basic design to completion of vessel in Singapore
Olivier Chapuis
> 13 years of experience in engineering and design of drilling rigs.• Has worked for Schlumberger, Transocean, PT Apexindo.• Involved in design and construction of semi-subs, barges and jack-up rig
offshore rigs worldwide
Roberto Lopez
> 32 years of drilling experience• Has worked for Schlumberger and Transocean• Involved in drilling operations, design, repair and construction of about 50 offshore rigs worldwide
Patrick Courte
> 32 years of experience in engineering and construction of drilling rigs.• Has worked for Schlumberger and Transocean• Involved in construction and repair of about 50 offshore rigs worldwide
TECHNICAL ARRANGEMENT
Accommodation
Block
Drill Floor
Riser StorageLarge Pipe rack
General Outside
The Equatorial Driller
Designer Moonpool Consultants Pte Ltd
Builder TBD
Drilling Depth 9,144m (30,000 ft)
Water Depth From 50 m (165 ft)
Up to 1,830m (7,000 ft) w/ subsea BOP stack
Up to 2,600m (8,500 ft) w/ surface BOP stack
Classification Bureau Veritas
Flag TBD
Accommodation 136 Pax in single or double berth cabins
Main Characteristics
• Deep water drilling capabilities using well proven and easy-to-handle drilling equipment
• Capable of operations with surface BOP or subsea BOP in equatorial environment
Special Features
Equatorial Driller Specifications
• Large Variable Load capacity, large deck space
• Low maintenance and operating cost
• Zero-discharge capability integrated from the early design stage of the vessel
• Large BOP storage platform allowing safe maintenance and improved handling operations. Include facilities for handling wellheads and Shut In Device (SID)
• Fully integrated and ergonomic system for driller’s control and instrumentation
• High standard accommodations
Hull Length 161 m 528 ft
Hull Breadth 31 m 102 ft
Hull Breadth at water line 27 m 89 ft
Hull Depth 10 m 33 ft
Normal Operating Draft 4.75 m
Max Transit Draft (M.E.) 5.50 m
Maximum Load Line Draft 6.50 m
Moonpool
Width 9.0 m
Length 20.0 m (excluding beach)
Main Dimensions
Operating Areas for Equatorial Driller
00
Operating areas of interest
West
India
Nigeria
Arabian
Sea
Rated Water Depth : 50 to 8,500ftTargeted Countries
• Asia - Malaysia, Indonesia, Thailand, parts of India, parts of Vietnam and parts of Myanmar• West Africa – Angola, Nigeria, Liberia, Togo, Benin, Equatorial Guinea
Targeted Clients:
• Key NOCs: PETRONAS, Pertamina, PetroVietnam, ONGC• Key IOCs: XOM, BP, Chevron, Hess, COP, TOTAL, Murphy, Shell• Key Asian players: Reliance, SK, Santos
7West
Africa
S.E.A
Angola
Equatorial Driller – “The right rig for the right job”
Why are deepwater dayrates so high?
• Tight deepwater rig markets
• High capex for newbuilds - >US$700 million for new deepwater rigs
– Rig contractors must get high dayrates to cover high costs
GOM, North Sea, etc ED Operating Areas
“the Bath Tub”
New deepwater rigs are built for severe drilling environment of Gulf of Mexico, North Sea, etc
• Severe met ocean conditions
• Water depth > 10,000ft
• Drilling depth >30,000ft
Many areas targeted by Equatorial Driller have benign met drilling environment, where new deepwater rigs are over-spec and over-sized
• Benign met ocean conditions
• Water depth <8,000ft
• Drilling depth <20,000ft
Equatorial Driller – Significant cost savings for oil companies
• Significant savings through:
• a purpose built rig, like the Equatorial Driller
• drilling wells using surface stack BOP
Surface
BOP Mode
Sea Level
Conventional
Subsea Mode
21” Marine Riser Surface BOP
Sea Bed
21” Marine RiserWith buoyancy
18-3/4” SubseaBOP
High PressureRiser
Surface BOP(Jack up type)
Shut In Devicecontrolled byacoustic signal
� Faster to build
� Cost effective
Why Barge-Shaped instead of Semi-Submersible or drillship
� Cost effective
� Can be built by many yards
� Larger deck space for same amount of steel
� Larger loading capacity for same amount of steel
� Model test proves operability is very good in the targeted environment
� BETTER reliability for positioning lead to SAFER operations (well
testing, well control, drilling with HP riser)
� Environmental Friendly (less emissions)
� Lower OPEX (fuel, maintenance, crew)
WHY Moored Instead Of Dynamic Positioning?
� 40 years of field practice
• Stability Analysis
performed using
Moses. Approved by
Bureau Veritas.
• Hydrodynamic
analysis performed
with Diodore.
Checked motions,
accelerations and
validated hull size.
Model Tests Conducted
validated hull size.
• Model Test in various
sea states. Simulation
of target environment
(85 runs, wave &
current).
The rig can drill in head seas of 3.8m high which cover the 10 year return period of the region
Global Strength Analysis
of the Hull and
superstructure using
Structural FEM Analysis Conducted
superstructure using
NASTRAN ®
Structural Drawings are completed
and approved by Bureau Veritas
Main Scantling Has Been Approved By Bureau Veritas
• We have the Right People
– A strong management team
– The best drilling and operation team
– An abundance of drilling experience
• We have the Right Equipment
– ED is a unique targeted solution
– Purpose built and market driven demand
Critical Success Factors of Our Business Model
– Purpose built and market driven demand
• We have the Right Focus
– A clear vision
– A dedicated drilling management team to spearhead development
• We have Adequate Resources
– Strong commitment from Swiber group
– The next engine of growth for Swiber