Norshore

AGENDA
NORSHORE PRESENTATION
NORSHORE ATLANTIC OPERATIONAL EXPERIENCE
POTENTIAL OPPORTUNITIES
COMPANY INFORMATION
Norshore is a fully integrated drilling and subsea company based in Bergen, Norway.
Company established in 2007
Norshore Atlantic commenced operations in 2014
Norshore Pacific, under construction. Delivery 4Q 2016
Norshore Atlantic
Norshore Pacific
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MANAGEMENT
Approximately 100 dedicated employees (onshore & offshore)
Petter H. Tomren
President / CEO
Arnstein Hernes
CFO
Olav Lie
VP Projects
Trond Haugland
VP Operations
Finance
Norshore
Site Team
Norshore Atlantic
Support Team
Finance &
Accounting
Tax & subsidiaries
Insurance
New building
projects
Upgrades
Engineering
Concepts
Vessel operations
Marketing /
Contracts
Gøran Furland
VP HSEQ & Business Support
Human
Resources
Technical
HSEQ
IT &
COMM
Proc. &
Logistics
Supporting
Operations and
Projects
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INTEGRATED WELL MANAGEMENT
Rig and Well Management
DRILLING
SERVICES
ATLANTIC
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Rig Operations
Maintenance
Marine Operations
Crew Training
Catering
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Directional Drilling
MWD
Mud
Mud Logging
ROV
Wireline
Cementing
Completion services
Well testing
Sub Sea
SERVICES
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Boats
Helicopter
Supply Base
Site Survey
Logistics
EQUIPMENT
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Wellheads
Tubulars
Well Heads
Drill bits
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KEY AREAS OF OPERATION –
COST EFFICIENT SOLUTIONS
Area of operation
Description / Norshore capabilities
 Top hole drilling represents ~20% of a well
Top Hole
drilling
 The Norshore vessels are equally efficient
as large floaters in drilling the top hole
sections of a well, allowing operators to
achieve significant cost savings
 Water depth range 30-3,000 meters
P&A
 P&A is one of the major costs of
decommissioning a project
 Norshore can perform P&A work, which
today is mostly performed by std. rigs
BOP
system
 Riserless drilling of complete wells to 500
meters water depth
Riserless
drilling
 Highly efficient operations compared to
use of standard drilling units
 Already a number of potential wells with
major oil companies have been identified
Mud
return
system
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KEY AREAS OF OPERATION (CONT’D)
Area of operation
Description / Norshore capabilities
Standard Well
Slender well
drilling
Well
intervention
and Subsea
construction
 A slender well is drilled with substantially
smaller diameter hole size, reducing mud
volumes, casing cost and BOP size
 Slender well drilling is increasingly being
used, and 60% of all wells drilled with
floaters on the NCS could be drilled as
slender wells
Slender Well
Reduced:
Drill cuttings; 50-60%
Steel (casing); 60%
Drilling fluid; 50%
Day Rate; 40-60%
 The drilling and lifting capabilities makes
the Norshore vessels ideal for both light
and heavy well intervention
 Norshore’s vessels are equipped with
Active Heave Compensated Offshore
Cranes, which together with the Passive
and Active compensated lifting capability
of the drilling derrick creates a very
flexible and versatile vessel for subsea
construction work.
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VISION AND STRATEGY
VISION
Norshore’s main vision is to be a leading, international supplier of top hole drilling
and riserless services in the offshore market, through specializing in owning and
operating specially designed multipurpose vessels.
STRATEGY
We shall target and further expand our business by engaging the creative talents
of our employees in applying leading, cost effective technology and intellectual
creativity to enhance innovation in an ever competitive market.
Our target is to have 5 drilling vessels in operation within 2018.
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NORSHORE ATLANTIC - ANIMATION
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SHELL - MALIKAI PRE-DRILL CAMPAIGN
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EXPERIENCE - INTERVENTION
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Well Intervention with DP Riser. Top
Compensated Riser.
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2 Wells Indonesia July 2014
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Production increased from 50 bbl/Day to 4200
bbl/Day, steady 2800 bbl/Day for the last 5
months.
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6 hrs Loading at Quay Side
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Transit to Location 36 hrs
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Well Intervention Operation – Well 1
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3 days (adjusted for downtime on the Sub
Sea Equipment)
Well Intervention Operation – Well 2
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1,5 days
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Transit back to base 36 hrs.
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6 hrs Off Loading at Quay Side
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EXPERIENCE NORSHORE ATLANTIC – CONDUCTOR
INST. AND SURFACE CASING
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South China Sea – Shell Malaysia;
• 1500 ft (450 m) Water Depth
• Jetted 24 x 36 inch Conductors.
• 26 hrs for last conductor
Upper joint on each conductor string; 65 ft (20 m) long and 18 ton heavy.
All within Inclination Limit < 1 deg.
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Drilled 7 wells deviated 17 ½ inch sections down to top reservoir at 4100 ft (1250 m).
Ran 13 3/8 inch surface casing.
KCL mud with return to Shakers using Mud Recovery System.
Drilling completed January 2015.
Average fuel consumption – 13,6 ton/day
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EXPERIENCE– OPERATIONAL WEATHER
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Crane Operation - Ship to Ship
• Max Wave Height 3,5 m – 10 sec
• Max Wind Speed – 30 kts
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Drilling Operation
• Max Wave Height – 5 m – 11 sec
• Max Wind Speed – 50 kts
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Casing Running Operation
• Max Wave Height - 4,5 m – 11 sec
• Max Wind Speed – 40 kts
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PALAU ENERGY, EXPLORATION WELL, LOI
SIGNED
• 7 days sailing from
Singapore
• Palau population; 22 000
• Previous US Navy Base
Republic of Palau
Exploration well;
• First well drilled offshore
Palau
• Water Depth; 50 meters
• Drilling Depth; 1500 meters
• Duration; 40 days
• Casing strings; 2+1
• Use of 18-3/4” BOP
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NORSHORE = COST EFFICIENT DRILLING SOLUTION
 High Transit Speed - 13 knots
 Access to most Offshore Supply Bases - 7,2 m Draft
 Sub Sea Crane
 Low Fuel Consumption - Clean Design
 Multipurpose Drilling / Well Intervention Unit
 Low Day Rate compared to other DP Drilling Vessels
 Integrated Well Services
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