Flex LNG Ltd. · NYSE:FLNG
Flex LNG — Pareto Oil and Offshore Conference 2009
18 slides from Flex LNG's conference presentation, September 2009
Slide 1: Pareto Seminar Presentation
Pareto Seminar Presentation September 2009
Slide 2: Where Do We Stand Today
Where Do We Stand Today Commercial status Financing Strategy and Summary
Slide 3: FLEX LNG Producer – Key facts
FLEX LNG Producer – Key facts Classification Overall (riser to offloading) Fuel DNV Shrinkage: Approx. 10 % Maintenance 20 years on-station maintenance Liquefaction Capacity: Turret 1.7-2.0 mtpa LNG Internal Submerged Turret Production system (STP) from APL Accomodation 150 POB (regular + temporary)
Slide 4: Key Design Principles For The Generic LNG Producer
Key Design Principles For The Generic LNG Producer Maximize production capacity within the Principle FLEX LNG Q-FLEX/MAX Dimensions Producer LNG Carrier constraints of a standard ship building Length: 336 m 315-345 m hull size and standard equipment sizes Beam: 50 m 50-55 m Cost optimization Standar
Slide 5: LNG Containment Technology
LNG Containment Technology – SPB tank technology the only safe and reliable option for FLNG SPB Containment SPB Tank Technology Superior for LNG Production Excellent track record from operation in the Spherical harshest LNG trade since 1993 No filling restrictions On-site inspection Maximized flat d
Slide 6: Maturity of Design
Maturity of Design - The industry’s most mature FLNG concept Engineering and Design Generic FEED completed 1Q 2009 Approx 300.000 engineering hours invested in the development of the generic LNGP concept 5 x Field Specific FEED/Pre-FEEDs undertaken for real field cases HAZIDs, HAZOPs, RAM, FMECA, SI
Slide 7: Project Execution
Project Execution - Strong EPCIC framework is in place Single contract FLEX LNG Lumpsum, turnkey Single EPCIC EPCIC (incl. on-site) contract Successful partnership with Samsung Heavy Industries Samsung Heavy Industries Clear legal responsibilities Umbrella Contract Close collaboration together with
Slide 8: Project Execution
Project Execution World leading partners Strong FLEX LNG organisation A strong team of approx. 45 people from different backgrounds and core disciplines: Technical/project execution Pre-ops Upstream and subsea Business development Corporate functions In-house specialists for all key disciplines for
Slide 9: Where Do We Stand Today
Where Do We Stand Today Commercial status Financing Strategy and Summary
Slide 10: Strong Long-Term Prospects For LNG
Strong Long-Term Prospects For LNG - The emergence of China and India is changing the landscape Recent months have seen a number Offtake Deals 2009 of LNG offtake deals being concluded Project Supplier Offtaker Tenor Volume Gorgon LNG Project ExxonMobil PetroChina 20 yrs 3.25 mtpa Gorgon LNG Project
Slide 11: Key Applications For an LNG FPSO
Key Applications For an LNG FPSO Small stranded offshore Associated gas projects Onshore gas fields non-associated gas fields Provide a feasible Provide a viable alternative Offer a cheaper, quicker, development concept for for large scale associated and less complex solution small stranded offshore
Slide 12: The Minza Project
The Minza Project - Promising opportunity for a JV project Acreage and Field Location FLEX LNG has signed an agreement to buy Minza Oil & Gas which holds a 100% ownership of JPDA 06-101A in the Timor Sea The acreage was previously held by Shell who drilled a discovery well in October 1998. Minza sec
Slide 13: The Minza Project
The Minza Project - Development timeline: Target FID by year-end 2010 FLEX has initiated a farm-out process to Anita 2D Survey: “BOS Atlantic” select a partner that will fund the required appraisal drilling programme Expect that 3-4 wells will be needed to reach P90 estimates of 1.2TCF of recoverabl
Slide 14: Where Do We Stand Today
Where Do We Stand Today Commercial status Financing Strategy and Summary
Slide 15: Financing Strategy
Financing Strategy - Getting the structure right is vital to secure debt finance Large part of the industry seems to have overlooked the challenges of financing floating LNG production projects FLNG cannot be financed in similar fashion as oil FPSOs or traditional ship financing: Significantly longe
Slide 16: Understanding of FLNG Financing is Crucial for Success
Understanding of FLNG Financing is Crucial for Success FLEX LNG has been working closely with financial advisors for 2 years to optimally structure all aspects of the project EPCIC contract / managing new technology risk Commercial framework / interface between upstream, FLNG and LNG offtaker Insura
Slide 17: FLEX LNG – Unmatched Leader in Floating Liquefaction
FLEX LNG – Unmatched Leader in Floating Liquefaction Fully negotiated and signed turnkey EPCIC contract where the world’s best yard takes new technology risk Financeable EPCIC contract and unmatched visibility of cost and schedule Access to the SPB LNG containment system – the industry’s preferred L
Slide 18: Leading the Liquefaction Revolution
Leading the Liquefaction Revolution From 2012 Onwards This is Going to Become a Familiar Sight The LNP Producer – A generic design with great adaptability Wouter Pastoor