1. Introduction : WEF Capital Project Complexity AA Packages Bulk materials BB SPAR Power- generation module Turbine generator package CC Valves, line pipe DD Project Packages (Sub-systems) Bulk Materials Systems (Modules) Current focus Future focus for industry Goal is to reduce capital costs, project timelines, and improve quality, safety and reliability of major projects through standardisation of equipment specifications for procurement ( supplements to existing industry standards.) To prove the concept, the focus will be on a small number of items. There is CEO agreement and support - they will continue to monitor the progress.

2. Introduction: JIP 33 Approach There are 17 members: BP, Chevron, Engie, Eni, Maersk, OMV, Pemex, Petrobras, PTTEP, Repsol, Saudi Aramco, Shell, Sonangol, Statoil, Total, Wintershall and Woodside (Exxon expected soon). 11 provide funding and experts, others provide experts only. Three priorities: ball valves, subsea trees, LV switchgear. Equipment specification for procurement will comprise : –Technical requirements specification. –Quality requirements. –Documentation requirements. –Supporting technical requirement specifications –Equipment data sheet template. In developing the standardised equipment specifications for procurement, the team must: Justify the safety or business value where proposed requirements exceed minimum proven industry practice. Keep in mind the specification is global, while allowing for regional requirements where necessary. Work collaboratively and be prepared to compromise in order to achieve the goal of the JIP.

3. Tree Design specification status: Work kicked off June 2015 by IOGP Subsea Committee as part of the VISION of increased INDUSTRIALIZATION Created as overlay style to API 17D Developed jointly by - BP/ Statoil/ Total. Takes material from 3 specifications with much simplification. –Committed to compromise, not focus on ‘keeping own requirements’ Document sent to IOGP Subsea Committee in October. As of yesterday’s kick-off on Trees section of JIP 33, agree that this document should be main focus.

5. The way ahead: Document will be re-issued this week with high level questions. Meeting will be held 10 Feb to review comments Recognise need to engage with suppliers – envisage this to be in March. Goal to have specification complete by mid-year. View is this work should eventually integrate to API 17D document