floater product line why a spar - dynamic...
TRANSCRIPT
Spar at MTS Workshop
Floater Product LineWhy a Spar
29 September, 2004
Spar at MTS Workshop
2Why a Spar?
WHY A Spar?
Mature Concept
On Time Delivery
Safest Platform
Best Riser Support Platform
Make Operator More Profit
Spar at MTS Workshop
3TECHNIP SPARS TO DATE
Spar at MTS Workshop
4Truss Spar
Wet TowWet Tow
Dry TransportDry Transport
UpendingUpending
Spar at MTS Workshop
5Truss Spar
Proven Design
Proven Hull Delivery History On-Time and On-Cost
Large Payload Capacity
Dry or Wet Tree Solution
Spar at MTS Workshop
6Why a Spar?
WHY A Spar?
Mature Concept
On Time Delivery
Safest Platform
Best Riser Support Platform
Make Operator More Profit
Spar at MTS Workshop
7
CONSTRUCTION SEQUENCE
Decision Economics
Delay Expensive• For 6 month delay in first oil
180 days at $6 M/day = $1080 M
10 % Interest on CAPEX = $90 M
On Time Spar Deliveries
Make You Money
Spar at MTS Workshop
8Mad Dog Holstein Gunnison
17 months
16 months
17 months
Fabrication Time
9-03
12-03
5-03
Sail Away
24,000 tons
22,000 tons
13,000 tons
Tonnage
14104-02Holstein
13758-02Mad Dog
76012-01Gunnison
Tons / MonthStart Steel Cutting
Spar at MTS Workshop
9Spar Delivery Reliability
Spar Fabrication at TOF
0,0 5,0 10,0 15,0 20,0 25,0
NEPTUNE
GENESIS
DIANA
NANSEN
BOOMVANG
HORN MOUNTAIN
GUNNISON
HOLSTEIN
MAD DOG
Proj
ect
Fabrication - Months
Contract Actual Contract at GOM Actual at GOM
Spar at MTS Workshop
10Why a Spar?
WHY A Spar?
Mature Concept
On Time Delivery
Safest Platform
Best Riser Support Platform
Make Operator More Profit
Spar at MTS Workshop
11Spar Safety
WHY IS A SPAR SAFER?Unconditionally Stable
Failsafe ballast system: intact stability is not endangered by variable ballasting errors
Simple ballast system: Licensed marine crew not required on board
Mooring Line Failure not CatastrophicRedundancy: spread mooring is designed for one line missing
Spar continues to float
Down flooding difficult
Spar at MTS Workshop
12Why a Spar?
WHY A Spar?
Mature Concept
On Time Delivery
Safest Platform
Best Riser Support Platform
Make Operator More Profit
Spar at MTS Workshop
13
Wave Frequency SCR Hang-off Response
0
1
2
3
4
5
6
7
8
Cell Truss TLP Semi
Std
Dev
Mot
ion
- ft
Lateral
Vertical
Spars Better SCR Support Vessel
Spar at MTS Workshop
14RISER SYSTEM ADVANTAGES
Low Motions at keelLower riser stressesAllows less expensive riser
Risers are protected from surface wave and current actionLateral mooring system allows running risers in high currentsAll types of risers and hang-off systems
Spar at MTS Workshop
15PRE-INSTALLED PULL TUBES
Spar at MTS Workshop
16Porches and Piping at Keel
Spar at MTS Workshop
17Fixtures at Keel for Future Flexibles
Spar at MTS Workshop
18Why a Spar?
WHY A Spar?
Mature Concept
On Time Delivery
Safest Platform
Best Riser Support Platform
Make Operator More Profit
Spar at MTS Workshop
19
CONSTRUCTION SEQUENCE
Platform Costs
Finn’s Theorems1. All Platforms Cost the Same
$20 M delta in the noise level
2. Design Competition a Flawed Approach
Winner often low balls estimates to win
Cost increases often much greater than delta
Spar Saves in Other AreasRisers, Completion, Drilling, Workover
Spar at MTS Workshop
20
Typical Field Development CostsGOM Deepwater 300 MB 150 KBD 20 Wells
Subsea Case Millions
• Transportation by Pipeline $100
• Drilling by MODU $1000
• SURF $300
• Topsides $250
• Platform $150
• Total $1800
Field Development Costs
55 %
8 %
Spar at MTS Workshop
21
CONSTRUCTION SEQUENCE
Macro Economics
Is This a Profitable Venture?
300 MB at $40/B = $12 B
150 KBP at $40/B $6 M/day
300 days = CAPEX ($1.8 B)
YES!!
Spar at MTS Workshop
22
CC
PI
EB
AC
GB
KC
MioceneBasins
PlioceneBasins
Pleistocene Basins
Port
Isab
el F
oldb
elt
Perdid
o Fold
belt
Sigsbee PlainSigsbee Escarpment
EB
{
Mississ
ippi Fan
Fold Belt
Gemini
Salt Canopy
Auger
Mars Ursa
Genesis
Hoover
Great White
MC
Mensa
Thunder Horse
GC
WR
AV
LD
Pliocene Basins
AtlantisAtlantisMad Dog
Tahiti
Neptune
The Salt Canopy
Spar at MTS Workshop
23
Spar Can Reduce Drilling CostsCompleting Wells from Spar Saves
Less expensive completion rig
Workover costs also reduced
Drilling wells from Spar SavesLess expensive than MODU
More drilling uptime
Spar Mooring good for 100 hurricane
Reduce Drilling Costs
Spar at MTS Workshop
24Offset Drilling with MODU / Spar Completion
Kerr McGee Neptune (1000 HP WO)BP Horn Mountain (DP Rig) (1500 HP WO)Kerr McGee Boomvang (1000 HP WO)Kerr McGee Nansen (1000 HP WO)Kerr McGee Gunnison (1500 HP WO)
Applications
Spar at MTS Workshop
25Drilling and Completing from Spar
Chevron Genesis (3000 HP Drill)ExxonMobil Diana (3000 HP Drill)BP HolsteinBP/ UNOCAL Mad Dog
Spar at MTS Workshop
26
Drill From Spar to Reduce CostsGOM Deepwater 300 MB 150 KBD 20 Wells
Subsea Complete Drill & Comp
• Transportation $100 $100 $100
• Drilling $600 $600 $240
• Complete $400 $160 $160
• SURF $300 $100 $100
• Topsides $250 $250 $250
• Platform $150 $180 $220
Total $1800 $1400 $1070
MODU vs. Spar Drilling Comparison
Spar at MTS Workshop
27
Drill From 2 SparsGOM Deepwater 300 MB 75 KBD 10 Wells each
One Spar Spar 1 Spar 2
• Transportation $100 $100 $10 M
• Drilling $240 $150 $150
• Complete $160 $80 $80
• Risers $100 $50 $50
• Topsides $250 $140 $140
• Platform $220 $120 $120
Total $1070 $640 $550 $1190
Two Drill Centers Comparison
Spar at MTS Workshop
28Conclusions
Conclusions• Drilling From Spar Saves Money
• Completing from Spar Also Saves
• Two Smaller Spars Very Attractive• Better Reservoir Coverage
• Efficiencies in Building 2
• Staged Development Lowers Reservoir Risk
Spar at MTS Workshop
29The Cell Spar
WHY A Cell Spar?Cost Effective Small Field Platform
Low Cost Automated Fabrication
Quick DeliveryLow cost Installation
Same Good Motion CharacteristicsSCRsTTRsFlexibles
Spar at MTS Workshop
30Cell Spar Tube Fabrication, Outfitting & Assembly
Spar at MTS Workshop
31Cell Spar Tube Assembly – November 14th to December 14th
Spar at MTS Workshop
32Red Hawk Cell Spar Installation
Spar at MTS Workshop
33Red Hawk Cell Spar Installation
Contract Award to Delivery in 22 months
Spar at MTS Workshop
34
Cell Spar Has Good Motion CharacteristicsSCRsTTRs
A Low Cost HullLess steelFast fabrication – automated process
Suited for Marginal FieldsSmaller deck loadsDeep waterHigh currents
Conclusions