Indonesia - Gajah Baru development update 23 June 2010
Forward looking statements This presentation may contain forward-looking statements and information that both represents management's current expectations or beliefs concerning future events and are subject to known and unknown risks and uncertainties. A number of factors could cause actual results, performance or events to differ materially from those expressed or implied by these forward-looking statements. June 2010 | Page 1
Gajah Baru project update Contents • Natuna Sea Block A development overview • Gajah Baru development • Project Metrics • Accomplishments and Key Achievements • Key Dates and Overall Level 1 Schedule • Execution highlights • Project Graphics & Progress Photographs • Project Management Team (PMT) • Key Events for 2H 2010 June 2010 | Page 2
Natuna A Block development plan Anoa / AGX Complex Gajah Puteri (future) Gajah Baru Hub Pelikan, Naga, Iguana & Bison (future) Domestic Gas Delivery – Batam (GSA3&4) International Gas Delivery – Singapore (GSA2) June 2010 | Page 3
Gajah Baru development overview June 2010 | Page 4
EPCI summary and split in scope of work Engineer, Procure, Construct & Install (EPCI) Contract is a joint venture between Saipem* and SMOE • Saipem responsible for: • Engineering and procurement of materials and packaged equipment • Load out, transportation and installation of all components • SMOE responsible for: • CPP Topsides, living quarters, flare boom & bridge • Offshore hook-up of all components and pre-commissioning • Nippon Steel Batam (NSB) responsible for: • Wellhead Deck • Wellhead Jacket, Piles & Conductors • CPP Jacket & Piles • Premier Oil responsible for commissioning with Contractor’s assistance * Saipem consortium leader June 2010 | Page 5
Project metrics • Design Life – 20 years for Facilities, 50 Years for Pipeline • Integrated Float-over Deck design, minimal Hook-Up • Fabrication Durations • CPP Topsides = 18 months • Living Quarters = 13 months • Component Weight • CPP Topsides – 8,000 tonnes (including 800 tonne LQ module) • Design Output • 2 Turbocompressor packages supplied each with initially HP stage only and plinth for future supplied LP stage – Initial HP stage sized to export MR at 1750 psia ( i.e. 2x100% versus MR). – Between 2012 / 2015 LP Stage added to plinth and capacity of combined HP/LP train reduced to 50% of MR • 1 No. Turbocompressor package supplied initially with both HP and LP stages and train sized to export 50% of MR at 1750 psia from a suction pressure of 255 psia June 2010 | Page 6
Key schedule dates CONTRACTUAL MILESTONES FIRST GAS 01 Oct 2011 WHP Facility Mechanical Acceptance Ready for Drilling 15 Sep 2011 01 Oct 2010 4Q 3Q 4Q 2009 2010 2011 1Q 2Q 3Q 2Q 2Q Delivery of Install CPP Vessels Export Pipeline Delivery of Install WHP Install CPP CPP Compressors Jacket & Deck Jacket & Deck KEY MILESTONES June 2010 | Page 7
Execution plan highlights •Long Lead Item (LLI) procurement • Premier pre-purchased and then transferred nine orders including WHP Steel and CPP Compressors and Generators and large Pressure Vessels •Initially bid project at peak steel price and an overheated market • Re-bid as prices in excess of AFE limit, relaxed single yard requirement • Revised final price ~US$ 100 million lower •Managing delay of award of contract • Maintained engineering with short listed bidders through final negotiations •Close Government liaison on project approvals • GOI maintains certification process, bi-annual work plan & budget reviews, quarterly progress meetings at yards •Highest local content – new benchmark >30% • Independent verification body audits underway •Early installation of Wellhead Platform to allow early development drilling • Premier has extensive experience working with NSB yard, viz. – AGX Compression Platform (2000-2001) and West Lobe WHP (2005-2006) – Both facilities delivered and installed on schedule June 2010 | Page 8
Execution plan highlights •Export Pipeline Tie-In to WNTS • To be undertaken to avoid interruption of gas export from Anoa •PMT influenced EPCI contractors’ decision to proceed with Integrated Deck Float-over design as opposed to conventional module design • Maximizes onshore pre-commissioning and consequently greatly reduces offshore Hook-Up duration •PMT actively involved in initial equipment layout concepts • Including positioning of major pieces of equipment on Cellar and Mezzanine Decks •PMT planning efforts have included the following: • Sequence of equipment erection including early identification of critical pieces required to be delivered before stacking of deck panels • Thorough reviews of planned construction and outfitting of Technical Buildings • Providing assistance in defining pipe spool erection sequence on an area basis •Premier stationed a Living Quarters specialist in Singapore to liaise with SM0E on 60 man LQ design • Also reviewed procurement recommendations and • Ensured clash free interfaces between LQ and CPP Topsides June 2010 | Page 9
Wellhead platform (WHP) 3D CADD model Main Deck Cellar Deck Wellhead Control Panel Well Bay June 2010 | Page 10
Wellhead platform (WHP) 3D CADD model Well Bay Area (Plan) Well Bay Area (Elevation looking South) June 2010 | Page 11
Gajah Baru – Wellhead platform (WHP) Wellhead Deck ~800 tonnes Wellhead Jacket ~1,500 tonnes Piles & Conductors ~1,200 tonnes June 2010 | Page 12
Gajah Baru – Central processing platform (CPP) CPP Topsides - ~8,000 tonnes • 3 x MAN Turbo Gas Compressors c/w Solar Turbine drivers (GTCs) Main Deck Flare Boom • 2 x Solar Gas Turbine Generators (GTGs) • 60 man Living Quarters Bridge to WHP • Bridge linked to Wellhead Platform GTCs Cellar Deck GTGs ACHEs June 2010 | Page 13
Gajah Baru – Central processing platform (CPP) CPP Topsides ~8,000 tonnes Cellar Deck frame and support columns Main Deck frame (to be stacked on Cellar Deck July 2010) June 2010 | Page 14
Gajah Baru – Central processing platform (CPP) CPP Jacket ~4,800 tonnes Piles ~1,200 tonnes June 2010 | Page 15
Gajah Baru – Central processing platform (CPP) 60 man living quarters June 2010 | Page 16
Gajah Baru – Central processing platform (CPP) 60 man living quarters (~800 tonnes) June 2010 | Page 17
Asian Hercules II heavy lift derrick barge Lifting Capacity: 3,200 tonnes June 2010 | Page 18
“West Callisto” drill rig in Keppel FELS, Singapore June 2010 | Page 19
Jack-Up rig drilling through wellhead platform June 2010 | Page 20
Onshore receiving facilities (ORF) modifications status • COPI supervised FEED with PT. WorleyParsons Indonesia (WPI) complete • Long Lead Item (LLI) procurement orders ready to place • Two sole source vendors, Cameron & Mokveld for various valve & control requirements (on hold - pending to results of SDP discussion) • EPCI Execution • EPCI contract for the implementation of the ORF modification has been awarded to Punj Lloyd • Surveillance Plan • Premier Oil has established a surveillance team to over view COPI progress, cost control and schedule June 2010 | Page 21
Incoming gas June 2010 | Page 22
Overall ORF process facility June 2010 | Page 23
Key events on Gajah Baru for 2H 2010 • Engineering will reach 90% in August • Procurement • All WHP equipment & materials to be delivered by end of June • Majority of CPP major equipment will be delivered by July/August • Fabrication • WHP Jacket will load out in July and sail away early September • WHP Deck will load out in August and sail away mid September • CPP Jacket fabrication – start Elevation Panel assembly/erection 25 June • CPP Topsides Main Deck stack 01 July • Transport and stacking of 60 man LQ on 15 December • Installation • WHP Jacket installed 10 September and piled with conductors by 24 September • WHP Deck installed and ready for drilling 30 September • Drilling – West Callisto drill rig mobilizing to field in October • Development drilling of five wells will take place over the monsoon season June 2010 | Page 24
June 2010 June 2010 | Page 25 www.premier-oil.com
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