NORSHORE Company Presentation - 1 February 2013
description
Transcript of NORSHORE Company Presentation - 1 February 2013
DRAFT
0 0
Norshore Company Presentation
February 2013
February 2013
0
DRAFT
1
Background and business idea
• Established April 2007.
• Combining known drilling technology into a new
patented drilling concept.
• Low investment compared to traditional drilling
vessels big savings for oil companies.
• Low operational risk, no hydrocarbons involved.
• First vessel will be delivered from Batamec Shipyard
in Q2 2013.
• Signed Agreement with Shell for first vessel.
• Construction contract for the second vessel, including
three options to be effected soon. A total of 5 vessels
envisaged.
• Listing at Oslo Stock Exchange planned.
• Current equity MUSD 138, convertible loan of MUSD
5 from shareholder. No other debt.
• On delivery financing to be backed by Eksportkreditt
and GIEK.
DRAFT
Ownership structure Norshore Group
Norshore Holding AS
(Norway)
Norshore
Management AS
(Norway)
Norshore Shipping
Ltd.
(Cyprus)
Norshore AS
(Norway)
Norshore Atlantic
BV
(Netherlands)
Norshore Pacific
BV
(Netherlands)
Norwegian crew International crew Onshore
organization
Construction contract
with Otto Marine and
NOV
Will be owner of the
Norshore Atlantic
Vessel
Ownership of the
new Ship Building
Contract
Private Joint Company
Administration (CEO & CFO)
Owner of patent
Owners Equity 138 million USD
100% 100% 100% 100% 100%
2
DRAFT
Shareholders February 2013
3
• All main shareholders, except
Ocean Champion Holding
Ltd., are Norwegian.
• Appr. 30 % of the shares are
owned by Board members
• Total Share Capital; NOK 760
mill (USD 138 mill*).
• Total number of shares;
76 mill
* Exchange rate NOK/USD=5,5
Name (%)
Ocean Champion Holding Ltd
40,3
Ocean Champion, B-shares 10,1
Ability Holding AS (Board Chairman) 12,1
AID Invest AS 9,6
SJA Invest AS (Board Member) 10,0
PIR AS (Board Member) 5,0
Nord-Peko Holding AS 2,9
Ability Holding Invest AS 2,0
Bonanza Holding AS 1,3
THH 1 AS 1,3
Lande Investering AS 1,3
Haugum Invest AS (Board Member) 1,1
Nor-Par Holding AS 0,7
THH AS 0,7
SOCAP AS 0,4
PJ Investering AS 0,4
Others 1,0
Total 100%
DRAFT
Arnstein Hernes
CFO
• B.A., Siviløkonom and with an MBA from IESE Business School, Barcelona
• More than 20 years experience from the oil industry within finance and administration
• Experience from Elf, Norsk Hydro, ENI and Kverneland ASA (Norway and France)
• Last position was CFO with COSL Drilling Europe (former Awilco Offshore ASA)
Petter H. Tomren
President & CEO
• University of Stavanger – BSc / University of Tulsa - MSc in Petroleum Engineering
• More than 30 years experience from the oil industry, mostly in managerial positions
• Mr. Tomren has worked for DNO, ExxonMobile, Statoil, Odfjell and Prosafe. His last
position was President & CEO with COSL Drilling Europe (former Awilco Offshore)
Experienced Senior Management
Trond Haugland
VP Operation/Market
• University of Stavanger – BSc Petroleum Engineering
• Norshore (3y), Drilling Consultant (Statoil/ Hydro) and GM in Norshore
• Norsk Hydro (12y) Drilling Eng. Drilling Superintendent, Drilling Manager Sonangol
• BJ Services (1.5y) – Field Engineer
Olav Lie
VP Project
• Naval Academy / Bergen Maritime College
• Geoshipping AS (8y), Executive Manager / Operations Manager
• Nomadic ASA (2y), Operation / Port Captain
• The Norwegian Navy (16y) submarine, Commanding Officer
Gøran Furland
QHSE Director
• Educated at the Ålesund University College as Ship Master/Captain (Nautical
Science) and at the University of Bergen within Safety and Risk Analysis.
• Sailed as Ship Master and OIM in international waters
• Last position as OIM on J/U Maersk Guardian
4
Michele Steinsland
HR Manager
• Educated at Seton College in Australia.
• Broad international experience from the oil industry, has worked with companies
like; DOF, Seadrill, Total Marine Services, Diamond Offshore
• Last position with Odfjell Drilling responsible for recruitment/training of new crews.
DRAFT
Geir N. Pedersen
Chairman
• Founder of the oil service company AGR (listed on Oslo Stock Exchange 2006)
• Founder and chairman of several other oil service related companies, including an oil
company
• 22 years experience in the oil service industry
Per Inge Remmen
Board member
• Founder of Drilling Production Technology (DPT), acquired by AGR
• More than 22 years experience from the the upstream oil industry
• Key player in the development and use of new drilling technologies in the North Sea
Per Haugum
Board member
• University of Stavanger – MSc Petroleum Engineering
• DPT/AGR (6y), Co-founder of DPT and Engineering Manager
• Norsk Hydro (12 y), Drilling Eng., Drilling Supervisor, Drilling Superintendent
• Aker Drilling (now KCA Deutag) (3 y) – Offshore positions and Drilling Eng.
Board of Directors
5
• Founder of Dalseide & Fløysand Group AS
• 30 years experience in Norway’s leading company supplying surface treatment and fire
proofing (Dalseide & Fløysand Group AS)
• Experience as chairman and board member in several companies
Svein Fløysand
Board member
DRAFT
6 6
Startup (SPUD)
Drilling of 36’’ section
30’’ conductor installed
/ cemented Drilling of 26’’ section
20’’ casing
installed / cemented
Install protection frame (Norwegian requirement)
Frame installed (Norwegian requirement)
Change location
Top Hole Concept Step by Step Water depth capacity 70 – 3,000 meter
6
Very low operational risk, no hydrocarbon exposure
DRAFT
Well intervention vessels are used to
increase the oil recovery from existing
subsea wells
Wireline/tractor/coil tubing riserless well
intervention
Cooperation with third party for subsea
lubricator, X-mas tree control system
However, high complexity of equipment and
increasing market competition
Well Intervention
Increasing oil recovery
Slender well
Saving well costs
The Slender Wells delivers large
production casing or liner size (7”) while
reducing the size of the intermediate and
surface casing strings
Vessel prepared for installation of 8 x 125
kips Riser Tension system and BOP
Water depth between 150 and 1,500
meters or up to 3,000 meters with support
vessel
Norshore will drill the complete well,
saving 35% of well cost
7
Subsea construction
Additional capabilities
Subsea module Installation
X-mas tree installation
Manifold installation
Wet tow (installation of large subsea
constructions – 450 ton lifting capacity)
Geotechnical coring
ROV support - survey
LRP/EDP
6 5/8” DP
Riser
or Riser
ID – 7,25”
Lubric.
Valve
Sec.
Rotatable
Riser
Tension Ring
A True Multi Purpose Vessel
Rotatable
Riser
Tension Ring
Rotatable
Riser
Tension Ring
Rotatable
Riser
Tension Ring At
approximately
50 m. 13 5/8’’
Sub surface
BOP
Seabed
Isolation
device
16’’ High
pressure
casing riser
DRAFT
Shell Agreement, Atlantic
• Global 3 year Agreement, signed 30. November 2011
with Shell Global Solution International B.V., a
subsidiary of Royal Dutch Shell Plc.
• Shell’s intention is to keep Atlantic fully utilized by
themselves, alternatively have farm in from other oil
companies
• Currently, Shell is establishing the work program
based on vessel delivery July 2013
8
DRAFT
Norshore Project organization
9
• Norshore will have
people at yard and
with MT from Contract
effective Date.
• Total of 47 people now
at Batamec for Atlantic
• 30 of the 47 persons
are expats and will
join Norshore Atlantic
or the Pacific Project
team
• Key people from
Atlantic project team
will join the Pacific
project team
DRAFT
10 10
Atlantic on Quay Side
DRAFT
11 11
Bridge Bridge
DRAFT
12 12
ROV
Door
ROV Operation room
Cement Unit Mess Room
DRAFT
13 13
Conference Room Client office
Gymnasium Hospital
DRAFT
14 14
Engine Room
DRAFT
15 15
Thruster Rooms
DRAFT
16 16
Switchboard & Engine Control Room
DRAFT
17 17
Mud Pump Room, Mud Mixing Room, HPU Room
DRAFT
18 18
Drilling Equipment
DRAFT
19 19
Drilling Equipment
DRAFT
20 20
Drilling Equipment
DRAFT
Norshore Pacific
21
DRAFT
Norshore Pacific; One Contract
22
Selected shipyard will be awarded an all
inclusive, fixed price and fixed delivery
contract. Including; vessel design,
engineering, marine systems, drilling
package., installation, interface,
commissioning and final sea trials
National Oilwell Varco is nominated
supplier for the drilling package.
Marin Teknikk is nominated vessel
designer.
Owner will take responsibility for the
functionality of the drilling package
Detailed Technical Specification part of the
Contract
Norshore approved vendor list will apply
Shipbuilding Contract
Shipbuilding Contract
DRAFT
MT 6028 is a bigger vessel compared to Atlantic.
156 m x 28 m (compared to 115m x 22m)
Drilling capacity slightly increased
26 February 2013 23
Norshore Pacific
DRAFT
Norshore Pacific
Specification and Capabilities
Capacities Main particulars
• Length overall: 156,60 m
• Breadth molded: 28,00 m
• Depth main deck: 11,50 m
• Max draft midship: 7,95 m
• Deadweight approx.: 13500 t
• Gross tonnage: 11800 t
• Net tonnage: 4600 t
• Moon pool: 8,0 x 8,0 m
• Speed: 14,5 kts
• Fresh water: 1,000 m3
• Potable water: 800 m3
• Fuel oil: 1,400 m3
• Ballast water: 4,100 m3
• Liquid mud: 2,250 m3
• Anti heeling: 800 m3
• Dry bulk (cement/barite): 500 m3
• Hydrocarbon slop tank: 85 m3
• Methanol: 7 m3
• Work deck: 2,200 m2
Equipment Class notation
• Main engines: RollsRoyce (6pcs) –
20,500 kW
• Thrusters: RollsRoyce – 2x3,500 kW,
4x1,500 kW and 1x880 KW
• Drilling tower: NOV (700t A & P HC)
• Drilling equipment: NOV (including
3x1,600 hp mud pumps)
• Offshore crane: NOV (150t - 3000 m
AHC)
• ROV: TBN (150 hp / 3000 m) option
• LARS: TBN (4,000 m AHC) option
Using the right-sized tool = Significant cost-savings
Main capabilities
As efficient as semis and drillships
NCS regulations, DNV class, Norwegian flag
Improved safety
National Oilwell drilling package
Large mud capacity (2,250m3)
High capacity mud pumps (3x1600 HP)
High capacity derrick and top drive (700 t)
Large pipe deck capacity (2,200 m3)
DP3 capability
Reduced need for support vessels
Prepared for RMR (Riser less Mud Recovery)
DNV *1A1 – Ship-shaped Drilling
Unit - SF – E0 – DYNPOS AUTRO-
DK – Heldk SHF – LFL* – HL(2,8) –
COMF-V(3) - Clean design
DRAFT
25 25
Bringing the future one step closer…
Contacts:
Petter H.Tomren, CEO, Tel.: +47 9321 9215, Email: [email protected]
Arnstein Hernes, CFO, Tel.: +47 9740 6241, Email: [email protected]