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THE DEEP OFFSHORE MARKET
Ivan REPLUMAZCEO Offshore Branch
INVESTOR DAY, PARIS, FRANCE - October 22, 2004
29Investor Day – 22 October 2004
I. INTRODUCTION
II. DEEP WATER DEVELOPMENT CONCEPTS
IV. MAIN OPERATORS & CAPEX
III. RESERVES AND PRODUCTION
V. TECHNIP POSITIONING
30Investor Day – 22 October 2004
INTRODUCTION
Definitions:
! Deep water: depth between 500m and 1,500m
! Ultra deep water: depth exceeding 1,500m
History:
! First deep water development in 1989 in the US Gulf of Mexico
! 96 deep water and ultra deep water fields on stream today in US
! Gulf of Mexico, Brazil and Africa mainly
! These developments have been made possible thanks to:
" the discovery of new reserves located in giant offshore fields
" technological innovations in exploration, drilling and production
31Investor Day – 22 October 2004
DeepWater
ShallowWater
INTRODUCTION: DEEP WATER RECORD-BREAKING HISTORY
2000Roncador
Brazil
1 853 m
1997Marlim Sul
Brazil
1 709 m
UltraDeepWater
2003NakikaGoM
2315 m
1989JollietGoM
540 m
1991MarlimBrazil
752 m
312 m
1978Cognac
GoM
1994Marlim 4
Brazil
1,027 m
1997MensaGoM
1,650 m
32Investor Day – 22 October 2004
II. DEEP WATER DEVELOPMENT CONCEPTS
1. WET TREE
2. DRY TREE
33Investor Day – 22 October 2004
DEEP WATER DEVELOPMENT CONCEPTS: WET TREE
“Wet tree” concept relates to a development scheme where the production trees are located below the sea surface, generally on the seabed
Semi-Submersible
Floating ProductionStorage & Offloading (FPSO)
34Investor Day – 22 October 2004
SPAR
DEEP WATER DEVELOPMENT CONCEPTS: DRY TREE
“Dry tree” concept relates to a development scheme where the production trees are located above the sea surface
Extended DraftPlatform (EDP)
Tension-LegPlatform (TLP)
35Investor Day – 22 October 2004
II. RESERVES & PRODUCTION
1. DEEP WATER RESERVES: GEOGRAPHICAL SPLIT
2. DEEP OFFSHORE PRODUCTION:OIL & GAS
36Investor Day – 22 October 2004
Source: Infield
Billions of barrels of oil equivalent (bboe)
DEEP WATER RESERVES: GEOGRAPHICAL SPLIT
75% of total reserves and 93% of oil reserveslocated in Africa, Gulf of Mexico and Brazil
0
5
10
15
20
25
30
35
Africa Gulf ofMexico
Brazil Australia South EastAsia
North Sea Others
Gas38%Oil &
Liquids62%
Total: 90 bboe as of 1/1/04
37Investor Day – 22 October 2004
DEEP OFFSHORE PRODUCTION: OIL & GAS
Source: IFP
2004: 0.9 mboe /d or 52 bm3 /y2010: 3.1 mboe /d or 180 bm3 /y
0
40
80
120
160
200
1990 1995 2000 2005 2010
North Sea
Gas Production
Billionsof m3 p/y
0
1
2
3
4
5
6
7
1990 1995 2000 2005 2010
Gulf of Mexico
South East Asia
Oil Production
Brazil
Africa
OthersMillions of barrels p/d
2004: 3.0 mb /d2010: 6.5 mb /d
38Investor Day – 22 October 2004
III. MAIN OPERATORS & CAPEX
1. MAIN OPERATORS
2. DEEP WATER CAPEX:GEOGRAPHICAL SPLIT
3. DEEP WATER CAPEX BY SEGMENT
39Investor Day – 22 October 2004
DEEP OFFSHORE: MAIN OPERATORS
Source: Infield
Billions of barrels of oil equivalent (bboe)
0 2 4 6 8 10 12 14 16
Others
BHP Billiton
Murphy
Reliance
Kerr-McGee
British Gas/Edison/EGPC
Statoil
Norsk Hydro
Unocal
ChevronTexaco
BP
Total
Shell
ExxonMobil
Petrobras
Liquid Reserves
Gas Reserves
Liquid reserves: 56 bboeGas reserves: 34 bboeTotal reserves: 90 bboe
40Investor Day – 22 October 2004
DEEP WATER CAPEX: GEOGRAPHICAL SPLIT
Over the 1999-2008 period, 90% of capital expenditureslocated in Africa, North America and Latin America
$ in millions
Africa
NorthAmerica
LatinAmerica
Asia &Oceania
Europe
India
Source: Infield
0
2 000
4 000
6 000
8 000
10 000
12 000
14 000
16 000
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
41Investor Day – 22 October 2004
DEEP WATER CAPEX BY SEGMENT
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
SURF Facilities Subsea Hardware
$57 bn deep water capital expenditures forecast over the 2004/2008 period:
! $21 bn on facilities
! $19 bn on SURF (subsea, umbilicals,risers and flowlines)
! $17 bn on subseahardware
Average Yearly Deep Water Capex
2000 - 2003 2004 - 2008
Source: Infield
$ in billions
+72% +68% +112%
42Investor Day – 22 October 2004
IV. TECHNIP POSITIONING
43Investor Day – 22 October 2004
TECHNIP POSITIONING IN DEEP OFFSHORE
Technip is present on:! SURF (Subsea, Umbilicals, Risers and Flowlines)! Floating facilities (FPSO, semi-submersibles, SPAR…)
Leadership in SURFmarket! 52% share in 2003! 35% share over
the 2000-2003 period
10% share on thefloating facilities market! Dry tree concepts:
" 10 SPAR platformsdelivered
" 1 currently underfabrication
! FPSO: Girassol (sub contract), Dalia in Africa! Semi-submersibles: P51 and P52 in Brazil
44Investor Day – 22 October 2004
TECHNIP POSITIONING: MAIN REFERENCES IN DEEP OFFSHORE
1,255PetrobrasSEMI-SUB FacilityP52Brazil
1,255PetrobrasSEMI-SUB FacilityP51Brazil
1,850PetrobrasSURFRoncadorBrazil
USA
USA
USA
USA
USA
USA
USA
Ivory Coast
Egypt
Angola
Angola
Angola
Angola
Angola
Country
1,520Kerr McGeeSPAR PlatformConstitution
1,620Kerr McGeeSPAR PlatformRed Hawk
1,370British PetroleumSPAR PlatformHolstein
2,040British PetroleumSPAR PlatformMad Dog
2,315ShellSURFNakika
1,050Williams Energy serv.SURFBanjo Seahawk
1,050Williams Energy serv.SPAR PlatformBanjo Seahawk
1,300Canadian Natural Res.SURFBaobab
500British GasSURFSimian Sapphire
1,350TotalSURFDalia
1,350TotalFPSO FacilityDalia
1,500British PetroleumSURFGreater Plutonio
500Chevron TexacoSURFKuito
1,450TotalFPSO Facility (Eng.)
Girassol
Water depth (m)ClientSegmentProject
45Investor Day – 22 October 2004
For more information, please contact:
INVESTOR RELATIONS
G. Christopher WeltonTel. +33 (0) 1 47 48 66 74e-mail: [email protected]
David-Alexandre GuezTel. +33 (0) 1 47 78 27 85e-mail: [email protected]
46Investor Day – 22 October 2004
TRADING TECHNIP
ISINFR0000131708