OFFSHORE MARKET REPORT NORWAY a complete and fully segmented market overview of the norwegian oil and gas supplier industry OFFSHORE MARKET REPORT NORWAY

EXHAUSTIVE OVERVIEW OF THE NORWEGIAN OFFSHORE MARKET

SEGMENTS COVERED, CHAPTER-BY-CHAPTER, ARE: THE FIRST TRULY EXHAUSTIVE OVERVIEW OF THE NCS OFFSHORE MARKET - Maintenance Services - Operational and Professional Services The Offshore Market Report Norway is a complete overview of the NCS - Engineering market available to companies active in Norway. It is a report intended - Procurement, Construction and Installation to develop an understanding of the market size and expected growth, - Topside and Processing Equipment business opportunities and competitor positioning. The Offshore Market - Subsea Equipment and Installation Report provides, among others, a platform-by-platform review with key - Well Services information and recent as well as upcoming large modifications. - Rigs and Drilling Contractors - Drilling Tools and Commodities The report includes more than 800 oil service companies active in Norway, - Seismic and G&G all with revenue broken down into different sub-segments. The report also - Transportation and Logistics includes a market forecast to 2020 for the respective segments. Forecasts are developed bottom-up, asset-by-asset and based on a variety of sources, These 11 segments are further broken down into more than 50 segments e.g. Rystad Energy’s UCube & DCube, company reported numbers, at level 2 and more than 150 segments at level 3. industry interviews, Statistics Norway, and NPD. Forecasts show size and growth for a wide range of splits, including operators, geography, THE REPORT IS DEVELOPED THROUGH COMBINING FOUR and facility type. DIFFERENT SOURCES: Information is available through both a graphical and table view, in which 1 Bottom-up field level budgets and plans the user can search for any given company, field or segment.

2 Bottom-up oil service company reported financial numbers

3 Top-down statistical numbers from SSB and NPD

4 Industry interviews (oil service companies, platform managers, etc.)

This makes it possible to estimate a much more precise market than previously estimated in the press/literature. Market forecast: NCS offshore market forecast, by main oil service segment Segment analysis: NCS rigs and drilling contractors revenue 2011 for all players Heidrun Field Information Operator Statoil Offshore Market by main segment NCS Rigs and Drilling Contractors Revenue 2011 split by level 2 Upcoming modification projects NOK million nominal NOK million Support org. Stjørdal Heidrun MMO FA Aker Solutions • Heidrun Northwest tie-in ISO FA Linjebygg • Heidrun North tie-in Other FA Mollier with HVAC • Zidane tie-in with gas export through new Polarled pipeline, decided March 2013 Oil Service Segment Odfjell Drilling / Baker Hughes Drilling op. • Maria possible tie-in (most likely Åsgard or stand- Maintenance Services Wells 35 alone development) since 2005 Operational and Professional Services 2008 2009 2010 2011 • Low pressure production DG2 Q1 2012, DG3 Q1 2013. EPCI contract for topside modification awarded Engineering Total OPEX 1452 1806 1784 1199 to Reinertsen , 370 MNOK. Ongoing (Q2 1311 3554 1349 2029 2012 - Q4 2014) Procurement, Construction and Total CAPEX Installation • Likely gas treatment upgrade Topside and Processing Equipment • Plan to prolong lifetime to 2045 (from 2020). Platform Facts Possible new deck for planned EOR work with Rigs and Drilling Contractors Heidrun injection of polymers (no weight limitations). • Heidrun launched as a candidate to get a new Well Service TLP; Drilling+Process+Hotel (350); Installed Jul 1995; Start-up: Oct 1995; 56 well slots; Capacity: 250 kbbl /d; wellhead platform by Tor Skjærpe , Petoro, on Drilling Tools and Commodities Topside weight: 34 kt ; Base: NC; Deck: HMV process Modifikasjonskonferansen March 2011. Amec ; Installation: NC; W. depth: 350 m • Production riser in tender process Subsea Equipment and Installation Transportation and Logistics Recent modification projects Heidrun Upcoming redevelopment projects Seismic and G&G • Water reinjection (2008) Heidrun • Upgrade of gas turbine and compressors (2009) • EPC for FSU in tender process

2005 2008 2011 2014 2017 2020 Recent redevelopment projects • No info Source: NPD; Company information; Source: Rystad Energy research and analysis Source: Company information, public sources, Rystad Energy research Rystad Energy research and analysis; Industry sources

COMPLETE MARKET COVERAGE & FORECAST SEGMENT-BY-SEGMENT ANALYSIS OF MORE OVERVIEW OF ALL CURRENT AND COMING TOWARDS 2020 THAN 800 COMPANIES PLATFORMS ON THE NCS

Each quarterly report includes an up-to-date and Each report provides a detailed breakdown of The report covers the key facts for all platforms as well complete coverage of all market segments on the NCS, revenues into more than 50 sub-segments for more as investment plans for new platforms on each field. This from maintenance services to subsea equipment. than 800 oilfield service companies active on the NCS. includes an overview of framework agreements for each It comprises (1) forecasts broken down for each of the This provides an overview over the largest and most platform, recent and upcoming modifications as well as 11 main segments and more than 50 sub-segments; economical companies as well as relevant competitors in latest contract awards. Sources include annual reports, (2) key events and trends affecting the offshore market; terms of size and activities. Sources include management industry interviews, contract awards, and tender processes. (3) NCS production forecasts, and (4) a complete list of interviews and annual reports. upcoming field developments. THE STORY BEHIND THE OFFSHORE MARKET REPORT NORWAY HOW TO OBTAIN THE OFFSHORE MARKET REPORT NORWAY

The founder of Rystad Energy, Jarand Rystad, has been the speaker at The Offshore Market Report Norway is delivered to the customer in print and numerous conferences for the oil and gas supplier industry, presenting, as a pdf-file and can be updated or expanded upon request. Users can either among others, recent research on the oil service market in Norway. Following make a one-off purchase or sign up for a one year subscription, which comes his presentations, there has been an increasing demand to access material with quarterly updates and a presentation by the Rystad Energy Offshore Market he had presented. As a result of this, Rystad Energy decided to develop Report team. a comprehensive report so that all interested parties could immediately access the material and find numbers pivotal to their business going forward. ABOUT RYSTAD ENERGY

Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy advisory and research products for E&P and oil service companies, investors and governments. Rystad Energy’s headquarters are located in Oslo, Norway, with additional research teams in India. Further presence has been established in the UK (London), USA (New York & Houston), Russia (Moscow), for Africa as well as South East Asia. Design: tindre.net Design:

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