Increased Safety & Efficiency from a Dedicated Light Well Intervention Vessel on Deepwater Wells

A Truly Integrated Service Delivery

09 August 2017 Agenda

Introduction to Light Well Intervention

Pros and Cons + alternative

Latest Generation LWI vessel & equipment

Types of Services run

Additional Future Services

Q&A

TechnipFMC Integrated LWI | 2 RLWI History • 440 Wells • 3,350 Wireline Runs 1987: BP first RLWI campaign in the North Sea Mature technology with 28 years of continuous track record Highly efficient and effective

Deepest RLWI job: 8,200 ft (2,499m) in 60 1200 58 58 50 54 1000 49 47 More than 1,300 wells intervened on 40 43 800 38 30 34 600

20 400

17 425 10 13 200 More than 3,300 runs into the well (just 11 by FMC Technologies and Island 0 3 0 Offshore)

Sum Wells (all vessels) SUM Wells 2005-2016 Sum days (all vessels)

TechnipFMC Integrated LWI | 3 Global LWI Market

Source: Quest Offshore; Infield Systems database North Sea 90% of global subsea Data for global flowing wells @ end 2017 • Exisng subsea wells: ~2700 • Number of subsea stacks: 6 – wells are in less than TechnipFMC = 3 1500m Asia Pacific Gulf of Mexico • Exisng subsea wells:~950 • Subsea wells: ~1100 • Number of subsea stacks: 2 • Number of subsea stacks: 3 + 3 – 2017 FMC = 1 x 3” – TechnipFMC =1

Brazil • Exisng subsea wells: ~1700 World total • Number of subsea stacks: • Global Subsea wells: >8000 by 0 West Africa YE 2017 • Exisng subsea wells: ~1600 • Number of available (large • Number of subsea stacks: 0 bore) subsea stacks; 11

TechnipFMC Integrated LWI | 4 Key Components for RLWI

DP2/3 Intervention vessel (+ROVs) Vessel • 100-150M$, 2 yrs lead time

Subsea Stack • 30-80M$, 1.5-2 yrs lead time Subsea Stack Mechanical Intervention services • Continually developing; ENABLER for the utilization of subsea non-rig based intervention Mechanical Intervenon Services

TechnipFMC Integrated LWI | 5 5 APAC Integrated, Purpose Built RLWI System

250 T. AHC Crane 300 T. Module Handling Tower Pumping Equipment and Downlines

Wireline and Slickline Equipment Built-in Fluid Tanks

TechnipFMC Integrated LWI | 6 Intervention Options Conventional (CAT C)

Pros Cons Depth only limited to rig High day-rate and total spread cost capacity Needs to be reconfigured Full pumping capability for work over High mob/demob costs- Can run all interventions impact economics for (WL, CT, Pipe) interventions Over-kill for e-line Can pull/run completions interventions Well-known deployment/ Not able to drill when using access technology for intervention.

7 TechnipFMC Integrated LWI | 7 Intervention Options Riserless Light Well Intervention (CAT A)

Pros Cons Light, cost effective, flexible Limited number of subsea intervention setup stacks worldwide (11) Mobilize, deploy & move Limited in volume of fluid between wells quickly to inject 80-90% of intervention requirements on e-line Cannot run CT (today) Vessel used for additional Cannot pull pipe (today) activities (Stimulation, Installation, P&A etc.), Operators not all locally increases economics for aware of technology and intervention services possibilities Depth capability can reach >95% of global wells TechnipFMC Integrated LWI | 8 8

Latest Generation Vessel & Stack now in Australia

• 440 Wells • 3,350 Wireline Runs

1st Gen. Stack #1 2nd Generaon Stack #2 & #3 3rd Gen. Stack #4

TechnipFMC Integrated LWI | 9 Benefits of Fully Integrated Vessel • Safer • Skidding system avoids lifting • Automated deployment avoids manual handling • Integrated shutdowns (Bridge/Control cabin/Back deck) • Vessel management system based on Well Intervention • Shorter Mob/Demob • Faster to respond to well integrity issues • Higher Operational Efficiency & continued improvements w same crew & procedures

• Lower total job costs to Operator • Requires minimal Operator resources to manage • TechnipFMC committed to expand services into APAC • Can provide full service with well services subcontracted

TechnipFMC Integrated LWI | 10 Economies of Scale with mul-capable vessel & equipment

Rigless Plug & Abandonment Riser-based Well Intervenon Riserless Well Intervenon Hydraulic Intervenon Inspecon, Maintenance & Installaon & Repair Commissioning

TechnipFMC Integrated LWI | 11 11 Intervention Priority & Capabilities

Capability: Tier 1 – Seng Plugs Integrity Restoraon XMT change out Tubing leak repair (straddle) Hydrate & Flowline remediaon etc…

Capability: Tier 2 – Producon Scale milling, debris/sand cleanout Restoraon & P&A Water shut off Sliding sleeve, GLV & valve manipulaon P&A & recovery Priority Etc…

Capability: Tier 3 – Producon Producon logging Enhancement Re-perforaon Acidizing & Scale treatment Etc… Increasing Demand as fields age TechnipFMC Integrated LWI | 12 Typical RLWI Applications

1% 2% 0% • Zone isolation (plug/straddle) • Perforating 4%

• Data gathering (PLT) 10%

• Milling and removal of scale 786 Plug/Straddle • Well barrier re-establishment prior to rig work 246 Perforations over (XT change out) 176 PLT • Well Clean Up 12% 151 Insert DHSV 62 Scale Mill 54% • Chemical Spotting 30 Scale Brush • Inspection/repair 15 SPM change outs • Camera inspection 1 Hydrate Mill • Change-out of valves 17% • Sleeve operations – DIACS valves • Caliper logging • Fishing on e-line • Temporary P&A operations of subsea wells

TechnipFMC Integrated LWI | 13 P&A Operations • RLWI Vessels are capable of a variety of P & A related operaons which can reduce Rig me. • Drilling Rigs are currently needed for pulling or milling Casing • Opons available for B & C annular cemenng from RLWI vessel • Wells must be assessed on a case-by-case basis • Spling workscope has been best pracce by operators in the North Sea and GOM.

New Technology/Well Specific

Dri, Primary Bullhead Pull Tbg. Across Cut/Pull Final Plug Clean and Cement Well Kill Log Csg. Well Csg. Mill & Log Barrier Cement RLWI Vessel Barrier Window Abandon

RLWI RLWI RIG

Well Primary Bullhead Pull Tbg. Across Cut/Pull Final Plug Cleanout Cement Well Kill Mill Csg. Well CSG. Mill & And Log Barrier Window Barrier Window Abandon

Drilling Rig

TechnipFMC Integrated LWI | 14 Deployment of Additional Services

TechnipFMC Integrated LWI | 15 Open Water on Island Performer

TechnipFMC Integrated LWI | 17 Pipe Handling from Island Performer Intervention Vessel

TechnipFMC Integrated LWI | 18 240T tower to run 6 5/8” or 8 5/8” casing riser or Drill pipe

TechnipFMC Integrated LWI | 19 Convertible system from Vessel

Agreed requirements: • Minimum change to existing equipment • Maintain safety functions and propose equipment safe to use • Meet typical RLWI needs – flushing, hydrate prevention, grease injection • Utilize standard casing joints vs specialty riser joints • Enable easy integration on vessel • Water depth capability 150m – 1500m • CTLF designed for optimal WL/CT operations

Lessons Learnt from pipe handling on other vessels

TechnipFMC Integrated LWI | 20 Pipe Handling from monohull vessel Island Froner 106m LOA Dead weight 4700 Ton Deck area 945m2 Tower 70 T AHC Crane 140T AHC DP3

Island Performer 130m LOA Dead weight 7300 Ton Deck area 1400m2 Tower 140T AHC Crane 250T AHC DP3

TechnipFMC Integrated LWI | 21 The first Step to making a Step-Change

hps://www.youtube.com/watch?v=JZFNqOxaJVY TechnipFMC Integrated LWI | 22 Step 2 Oil & Gas Open Water Coiled Tubing Drilling

hps://www.youtube.com/watch?v=nGp7gGGn4n0 TechnipFMC Integrated LWI | 23 Conclusions

RLWI is a mature technology • 28 years of field experience • > 1,200 wells • FMC > 3,300 runs (4 vessels in last 10 years) • Industry > 5000 runs & 2,500m maximum water depth

Integrated RLWI Services from dedicated vessel • Safer • Shorter Mob/Demob + faster response • Higher Operational Efficiency • Equipment in state of readiness • Same crews • Lower total job costs to Operator

TechnipFMC is expanding Integrated System to Australia in 2017 • Flexible with ability to run multiple services

TechnipFMC are developing other unique solutions for cost effective vessel based interventions (P&A, Riser from vessel etc)

In Australia now – 2023 +

TechnipFMC Integrated LWI | 24 QUESTIONS

bevan.morrison@.com

www.technipfmc.com

TechnipFMC Integrated LWI | 25