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TNOS Classification: Statoil internal Status: Draft Review of NnwaDoro (OML 109) screening work to NAPIMS by Statoil March 2004.

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Presentation on theme: "TNOS Classification: Statoil internal Status: Draft Review of NnwaDoro (OML 109) screening work to NAPIMS by Statoil March 2004."— Presentation transcript:

1 TNOS Classification: Statoil internal Status: Draft Review of NnwaDoro (OML 109) screening work to NAPIMS by Statoil March 2004

2 TNOS 2 License Map

3 TNOS 3 OPL 217OPL 216OPL 218OPL 219 OPL 246 OPL 220 AGBAMI BOLIA/CHOTA NGOLO NNWADORO BILAH Gas: 6 AKPO NnwaDoro - The key to monetise gas and unlock oil for Nigerias southern deepwater area SOUTHERN RIM JDZ Gas:10 – 15 tcf Oil:1-2 bn bbls Gas: 5 – 10 tcf ? Oil: 2 –5 bn bbls ?

4 TNOS 4 Background Nnwa discovered in Same structure drilled as Doro in the adjacent OPL 219 same year. Nnwa-2 Appraisal drilling 2002 Partners in OML 109 (OPL 218) Statoil (Operator) and ChevronTexaco Partners in OPL 219 Shell (Operator), ExxonMobil, Total and Agip Water depth 1400 meters, main reservoir fluid is dry gas Floating LNG evaluated by both Operators to be possibly the most promising concept for commercialising of the Nnwa Doro gas resource in 2002 MoU signed in June 2002 terminated Dec 2003 Upstream and Mid stream scoping work 2004 by OML 109 – Upstream 20 wells and sub sea production system – Midstream FLNG and onshore LNG

5 TNOS 5 Design Basis - Arrival Conditions Feedstock flowrate: 920 mmscf/d – ~17 year on plateau – ~9 years on decline Arrival conditions: Space will be provided for future re-compression Operating range: 50 – 100% of design throughput Phase of production Total gas rate mmscf/d Pressure battery limit battery limit Initial bara20 – 90 °C End of initial depletion92075 bara °C End of plateau92040 bara20 – 90 °C End of field life25040 bara20 – 90 °C

6 TNOS 6 NnwaDoro FLNG concept FLNG cap Gas prod : 920 mmscf/d LNG : 5,77 MTA LPG: 0,30 MTA Cond Prod: 35 kbpd Hull Storage LNG: m3 LPG: m3 Cond: m3

7 TNOS 7 Layout Summary Updated FLNG study 2004 MOU FLNG study 2003 Topside length inclusive safety gaps 368,2 m329 m Topside width76 m81,2 m Footprint area m226,715 m2 Number of Modules510 Numbers of levels3 - 4 Steel Barge450m x 76m435m x 81,2m


9 TNOS 9 Topside FLNG Weights Updated FLNG study 2004 MOU FLNG study 2003 Master Equipment List –Tonnes % Structure –Tonnes % Bulk –Tonnes % Weight allowance included15% Total -Tonnes Weight outside topside area

10 TNOS 10 Steel Hull issues The hull concept design is based on: – Double hull used for ballast water – Double deck areas (dry voids) – Steel deck fully insulated over full deck area for process modules – LNG tanks of either the membrane or SPB type – LPG tanks non-pressurised fully refrigerated design – Living Quarters for 200 persons at the aft end of the hull NnwaDoro topside footprint/ topside area requirement dictate the size of the hull Flare is positioned at the bow

11 TNOS 11 NnwaDoro FPSO concept and onshore LNG plant Offshore FPSO cap Gas prod : 967,5 mmscf/d Cond Prod: 32 kbpd Storage Cond: m3 Onshore plant cap Gas prod : 920 mmscf/d LNG : 5,63 MTA LPG: 0,34 MTA Cond Prod: 4 kbpd

12 TNOS 12 LNG plant Layout Tank farm cap – 2 x 150,000 m3 LNG tanks – 1 x 50,000 m3 Propane tank – 1 x 50,000 m3 Butane tank – 1 x 36,000 m3 condensate tank Infrastructure for surrounding districts, e.g. roads / township / civil amenities /airport / etc. is excluded from the present scope C4 C5+ C3

13 TNOS 13 Cost and schedule Assumptions ESTIMATE ASSUMPTIONS – The estimate is prepared in USD mid 2004 values – Basis for the estimate are the update of results from technical studies in the MoU phase

14 TNOS 14 CAPEX estimates – Scoping concepts MOU FLNG MUSD 2003 Updated FLNG MUSD 2004 Offshore & Onshore MUSD 2004 Upstream costs (20 wells) Drilling Sub sea production system Pipeline to shore--319 FPSO--976 FLNG concept Topside facilities Riser tower and turret380-- Steel hull including LQ Onshore plant Total costs

15 TNOS 15 Price expectations Feb 2005 The current market assumes that the US natural gas prices in real terms will move towards 4,00 05USD/MMBtu by 2010

16 TNOS 16 Nigeria block 218 – NnwaDoro Assumptions Condensate sales price: – $25 04/bbl 04 LNG sales price: – $4,0 04/mmbtu, Henry Hub Regas tariff $0,55/shipping tariff $0,50 FOB price = $2,95 04 Propane sales price: – $217,4 04/t Butane sales price: – $216,0 04/t Inflation: – 2,5% Discount rate: – 10% nominal All values given as 100% project, un-risked

17 TNOS 17 Nigeria block 109 – NnwaDoro Assumptions No abandonment cost included for midstream (useful life of asset longer than assumed production period) For upstream; condensate volumes treated according to oil terms, gas volumes according to new gas terms. Cost split according to relative shares of total volumes. Export pipeline treated as subsea cost (VAT/import duty) in upstream

18 TNOS 18 NnwaDoro cases - results Base case nom IRR Case 1 NnwaDoro subsea dev., gas sales to FLNG ,5% Case 2 NnwaDoro FPSO dev., gas sales to onshore plant 45911,3%

19 TNOS 19 Summary Need to negotiate gas PSC and pre-unit agreement to be able to move project forward Gas PSC and pre-unit necessary must be in place before embarking on further appraisal drilling Statoil is prepared to take the leadership and fast track the NnwaDoro project Technical Feasibility has been demonstrated Reduced sub surface uncertainty and increased reserve basis is a requirement for moving forward US market is the key target

20 TNOS 20 Way Forward 1. Exploration drilling 2. Appraisal drilling ongoing 3. FLNG MoU phase 4. OML 109 data trade (no success towards OPL 219 and OPL 246) 5. OML conversion 6. Re-processed seismic 7. Subsurface evaluation OML 109/ OPL 219 (ongoing) 8. Negotiate gas PSC/ pre-unitisation agreement (gas terms)/ Joint operating agreement 9. Prepare NnwaDoro assessment plan and budget 10. Drill appraisal wells 11. Subsurface evaluation 12. Concept evaluation 13. Establish commercial structure/terms 14. Concept selection 15. FEED 16. Finalise commercial agreements and fiscal terms 17. Sanction (FID) 18. Construction and pre-drilling phase 19. Production start

21 TNOS Current OML 109 Long term development plan Gas terms Gas PSC/Pre unit agreement Subsurface Evaluation Phase 1 & 2 Appraisal Drilling ( 2-3 wells) Phase 3 Conceptual evaluation Concept selection PRE-FEED & FEED Commercial Structure/unitisation Sanction (FID) Construction and pre-drilling phase Production start Keys to delivery 1.Negotiate gas PSC 2.Partner alignment 3.Sufficient reserves 4.Cost effective concept ITT process Scoping work ITT process

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