FPSO Update for NOIA 2012 Fall Meeting Chinook Gas Export Gregory D. Roland Regulatory Compliance Area Manager Petrobras America Inc. October, 2012 Cascade 1
Disclaimer The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update the presentation/such forecasts in light of new information or future developments. All projects forecasted herein are subject to approval by the appropriate stakeholders. CAUTIONARY STATEMENT FOR US INVESTORS The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as oil and gas resources, that the SEC s guidelines strictly prohibit us from including in filings with the SEC. 2
History 3
More History 1891 1896 Ohio and California 1900 Gulf of Mexico, Texas and Louisiana Drilled on platforms, not too far from shore 1947 - Approximately 50 years pass out of sight of land Need for storage or pipelines... Going farther out, the more the technology has to increase Floating rigs / facilities 4
FPSO Floating Production Storage and Offloading 5
Long History of Technological and Operational Leadership in Deepwater Petrobras America General Meeting - 2nd Quarter 2009 6
Cascade and Chinook Field History (1996 Lease Sale) Year Cascade Chinook 2002 1 Discovery Well 2003 1 Discovery Well 2005 2 Appraisal Wells 2006 Petrobras Operator 2009 2 Wells 2010 1 Well 2012 1 Well Producing 2 nd Well by end of year 1 Well Producing 2 nd Well drilling 7
Petrobras America General Meeting - 2nd Quarter 2009 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 2,000,000 2,200,000 2,400,000 2,600,000 2,800,000 3,000,000 3,200,000 3,400,000 11,200,000 11,200,000 Cascade and Chinook Location & Infrastructure FLORIDA ALABAMA MISSISSIPPI 11,000,000 MISSISSIPPI SOUND TEXAS MOBILE CHANDELEUR SOUND ADDN. PENSACOLA 30 00'N 11,000,000 LOUISIANA CHANDELEUR SOUND CHANDELEUR 10,800,000 10,800,000 CHANDELEUR E. ADDN BRETON SOUND DESTIN DOME SABINE PASS SABINE PASS MAIN PASS S.& E. ADDNS MAIN PASS WEST CAMERON 10,600,000 10,600,000 SOUTH MARSH ISLAND N. ADDN VIOSCA KNOLL EAST CAMERON HIGH ISLAND BAY MARCHAND VERMILION WEST CAMERON W. ADDN SOUTH PELTO SOUTH PASS E. ADDN GRAND ISLE EUGENE ISLAND HIGH ISLAND E. ADDN SOUTH MARSH ISLAND SHIP SHOAL GALVESTON WEST DELTA SOUTH TIMBALIER SOUTH PASS 10,400,000 10,400,000 SOUTH PASS WEST DELTA DE SOTO CANYON VERMILION SOUTH MARSH ISLAND EUGENE ISLAND SHIP SHOAL SOUTH TIMBALIER 10,200,000 GALVESTON WEST CAMERON EAST CAMERON HIGH ISLAND E. ADDN S. EXT 28 00'N 10,200,000 HIGH ISLAND MATAGORDA ISLAND MISSISSIPPI CANYON GRAND ISLE BRAZOS EWING BANK 10,000,000 MUSTANG ISLAND E. ADDN MUSTANG ISLAND LLOYD RIDGE ATWATER VALLEY GREEN CANYON GARDEN BANKS EAST BREAKS 10,000,000 BRAZOS 9,800,000 NORTH PADRE ISLAND 9,600,000 PORT ISABEL Cascade & Chinook HENDERSON LUND WALKER RIDGE SOUTH PADRE ISLAND E. ADDN FLORIDA PLAIN LUND SOUTH AMERY TERRACE SIGSBEE ESCARPMENT 200,000 400,000 600,000 96 00'W 800,000 1,000,000 1,200,000 94 00'W 1,400,000 1,600,000 1,800,000 2,000,000 92 00'W 8 2,200,000 2,400,000 2,600,000 90 00'W 2,800,000 3,000,000 3,200,000 88 00'W 3,400,000 9,400,000 9,400,000 26 00'N SOUTH PADRE ISLAND KEATHLEY CANYON ALAMINOS CANYON 9,600,000 9,800,000 CORPUS CHRISTI NORTH PADRE ISLAND E. ADDN
Cascade and Chinook Phased Development Petrobras America General Meeting - 2nd Quarter 2009 Phase 1 2 Wells from Cascade & 1 from Chinook; Subsea X-Trees, Manifolds, Pumps, Flowlines and Risers; Gas exported by Pipeline and Oil by Shuttle Tanker. Phase 1 Configuration Potential Phases 2 & 3 Up to 6 wells on Cascade & 7 on Chinook; Subsea Trees and Manifolds; Replacement of the FPSO; Oil Export: Shuttle Tanker vs. Pipeline. Option for Phase 3 9
Cascade and Chinook Well Drilling and Completion Rigs 2008 2008 2009 Ocean Endeavor Diamond Offshore Drilling West Sirius Seadrill Limited Discover Deep Seas Transocean Ltd. 10
Drilling and Completion of new Wells 2011 1st Quater 2012 2011 ENSCO Mendocino Drill Ship VANTAGE - Titanium Explorer Drill Ship 11
SUBSEA INNOVATIONS 1.- First pull-in of umbilicals using subsea winch operated by ROVs 2.- Deepest pipe-in-pipe flowlines 3.- Deepest gas export pipeline (8,200 ft) 4.- Deepest subsea boosting system (8,800 ft) 12
Cascade and Chinook Wave Buoy Installation and Operation Wave Buoy on deck 13
Riser Petrobras America General Meeting - 2nd Quarter 2009 Deepest and Highest Pressure Rated Free Standing Hybrid Risers (8200 ft) 4 Production Risers 1 Gas Export Riser 14
Buoy Disconnection Should a hurricane come her way, the FPSO can disconnect from the subsea structures and go to safe waters 15 15
Subsea Installation Vessels Technip - Deep Blue Subsea 7 Seven Seas Technip - Olympic Challenger Hereema Balder Veolia Viking Poseidon 16
Shuttle Tanker Construction in Philadelphia Petrobras America General Meeting - 2nd Quarter 2009 Shuttle Launching 17
Shuttle Tanker Overseas Cascade Shipping in the Gulf of Mexico Part of BP s Macondo Operation First use of purpose-built Jones Act ShuttleTankers in the USA 18
FPSO / Floating Production, Storage and Offloading First FPSO in the US Gulf of Mexico Deepest Floating Production System in the World (8200 ft) 19 Vessel Name: BW Pioneer Length - 794 ft Processing Capacity 80,000 Barrels/day Storage Capacity 500,000 BBL Production: February 2012
cannot currently be displayed. CASCADE AND CHINOOK Main Highlights Petrobras America General Meeting - 2nd Quarter 2009 1. First FPSO in the US Gulf of Mexico. 2. Deepest floating production system (8,200 ft). 3. First use of Purpose-built Jones Act shuttle tankers in the US. 4. First pull-in of umbilicals using subsea winch operated by ROV s. 5. Deepest and highest pressure rated free standing hybrid risers (8,200 ft at 10,000 psi). 6. Deepest pipe-in-pipe flowline (8,800 ft). 7. Deepest subsea boosting system (8,800ft). 8. Deepest gas export pipeline (8,200 ft). 9. First single trip multi-zone Frac Pack System application (3 zones) in deep wells (27,000 ft). 20
SAFET Petrobras America General Meeting - 2nd Quarter 2009 FIRST Y Over 3 million manhour without a Lost Time Incident 21
FPSO BW PIONEER 22
FPSO BW PIONEER 23
Thank you. Chinook Gas Export Gregory D. Roland Regulatory Compliance Area Manager Petrobras America Inc. October, 2012 Cascade 24