3. Açu Industrial Complex
A new cluster for the offshore and heavy industry
90 km² Industrial Complex (1.5 x larger than Manhattan Island)
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4. UCN Açu: Layout
Platform construction
area
Jacket assembly
area Module construction
area
Dry dock
and ETS Green Curtain
Industrial unit ETA
Administrative
FPSO buildings
Quays
Electricity Substation Administrative
345 kV – 13.8 kV buildings with LEED
Certification (US Green
Building Council)
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5. UCN Açu: Licensing Schedule
Preliminary Installation
EIA/RIMA Public License (LP) License (LI) Beginning of
Filling Meetings Issuance Issuance Construction
P P P P P
Oct-10 Jan-11 Feb-11 Jun-11 Jul-11
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6. UCN Açu: Shipbuilding Unit schedule
Packages Procurement Mobilization
Removal of Vegetation 2Q11 P 2Q11 P
Preparation of the Terrain 3Q11 P 3Q11 P
North Quay and Jacket’s Area 4Q11 1Q12
Dry Dock 4Q11 1Q12
South Quay and Respective Retro Area 4Q11 1Q12
Industrial Buildings 3Q11 P 4Q11
Utilities and Infrastructure 3Q11 P 3Q11 P
Administrative Buildings (Leed) 1Q12 1Q12
Auxiliary Buildings (Non Leed) 4Q11 1Q12
Electromechanical Assembly 1Q12 2Q12
Supervision Support 2Q11 P 2Q11 P
Construction Site 3Q11 P 3Q11 P
Breakwater 1Q11 P 1Q11 P
Dredging 3Q11 P 3Q11 P
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7. UCN Açu: Estimated partial deliveries
UCN Sections (Ready) 2012 2013 2014
Area 1 for assembly of jackets 4th Quarter - -
Area 2 for assembly of jackets - 1st Quarter -
Area for initial cutting of steel plates - 1st Quarter -
Slot 1 for FPSO integration - 1st Quarter -
Slot 2 for FPSO integration - 2nd Quarter -
Slot 3 for FPSO integration - 3rd Quarter -
Slot 4 for FPSO integration - 4th Quarter -
Slot 5 and 6 for FPSO integration - - 2nd Quarter
Completion of construction of UCN - - 2nd Quarter
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8. UCN Açu: Financing (Merchant Marine Fund)
Credit facility: 80% of CAPEX
Total tenor ranging from 18 to 20 years with a grace period of up to 3
years and interest rates that vary from US$ + 2% to US$ + 4% per year
Lending Agents: BNDES, Caixa Econômica Federal, Banco do Brasil, BNB
and Banco da Amazônia
14.4% 63.6% 20.1% 1.9%
2011 2012 2013 2014
Capex Distribution by Activity:
US$ MM OSX LLX
Dredging and Engineering 93 90
Break Water 135 129
Quay 262 -
Buildings 339 -
Dry Dock 133 -
Roads and Paving 146 -
Equipment and Others 487 -
Total of US$ 1.933 MM 1.714 219
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18. FPSO OSX-1: Destination Waimea
Milestone Date
Beginning of instalation of mooring system September 2011
Arrival of buoy (from Batam) September 2011
Arrival of OSX-1 in Rio de Janeiro, Brazil 6th October 2011
Installation of STP Buoy November 2011
First Oil OGX December 2011
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19. FPSO OSX-1: Total Crew: 89 people
Age Years of Experience
4%
14% 20 to 30 years
19%
Less than 20 years
30 to 40 years
28%
49% 20 to 30 years
40 to 50 years
26% 32%
Greater than or equal to
50 to 60 years 30 years
Greater than or equal to
60 years
28%
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22. OSX-2 / WHP-1 System
OSX-2 WHP-1
Mile sto ne Date Mile sto ne Date
Arrival of hull at Keppel shipyard
(Singapore) 3rd Quarter 2011 Start of construction and assembly 4th Quarter 2011
P&IDs approved for construction 2nd Quarter 2011 Load Out of WHP-1 3rd Quarter 2013
FPSO departure from yard 2nd Quarter 2013
Construction Contract Construction Contract
EPCI contract signed with SBM Signing of LOI with Techint – 1Q11
Acquisition of VLCC – accomplished Start of Engineering – 1Q11
Contract signed with Techint
Long term debt commitment LOI for Drilling Package signed with TTS
Facility agreement entered into lead by ING,
Itaú-BBA and Santander: US$ 850 million
Other financial institutions participating in the
syndicate : HSBC, Citibank, ABN Amro Bank,
Banco do Brasil, NIBC and DnB Nor.
Debt/Equity structure – 80/20
12 years, LIBOR +4,41% p.a.
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25. OSX-3 / WHP-2 System
OSX-3 WHP-2
Mile sto ne Date Mile sto ne Date
Arrival of hull at conversion shipyard 4th Quarter 2011 Start of construction and assembly 4th Quarter 2011
P&IDs approved for construction 1st Quarter 2012 Load Out of WHP-2 4th Quarter 2013
FPSO departure from yard 3rd Quarter 2013
Construction Contract Construction Contract
Aquisition of VLCC - accomplished Signing of LOI with Techint – 1Q11
EPCI contract signed with MODEC Start of Engineering – 1Q11
Contract signed with Techint
Long term debt commitment
Financing: 1st half 2012
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27. FPSO OSX-4: Milestones achieved and next steps
VLCC sister hulls acquired by OSX in Nov. 2010 : US$ 27 million each
FPSO OSXFLEX concept contracted with CKE Consortium (Chemtech, Kromav and
OSX-3
Exactum) WHP-2
Close-up Survey of the hulls performed by ShipScan and monitored by Bureau Veritas
Preparation Stage: engineering project for conversion of the hulls
Integration UCN Açu : 2Q2013 marking the start-up of UCN Açu’s activities
Delivery at UCN Açu in 2Q2014
Milestone Date
Specifications for hull conversion 1Q12
End of hull conversion 4Q12
Arrival of hull at UCN slot 1 2Q13
Delivery by shipyard 2Q14
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29. FPSO OSX-5:Milestones achieved and next steps
VLCC sister hulls acquired by OSX in Nov. 2010 : US$ 27 million each
FPSO OSXFLEX concept contracted with CKE Consortium (Chemtech, Kromav and
OSX-3
Exactum) WHP-2
Close-up Survey of the hulls performed by ShipScan and monitored by Bureau Veritas
Preparation Stage: engineering project for conversion of the hulls
Integration UCN Açu : 3Q2013 marking the start-up of UCN Açu’s activities
Delivery at UCN Açu in 4Q2014
Milestone Date
Specifications for hull repair 2Q12
End of hull conversion 2Q13
Arrival of hull at UCN slot 2 3Q13
Delivery by shipyard 4Q14
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32. Project Accelerators: Standardization of Equipment
Maximize competitiveness through standardization of production units
Reach 70% of standardization of units (plant and deck)
Signature of long-term contracts with suppliers
KEY SYSTEMS OTHER SYSTEMS
Water injection Water harvesting
Cargo handling Compressed air
Energy generation Fire Fighting System
Gas compression Tubing and Accessories
Offloading System Load pump
Supervisory System Ballast pumps
Anchoring and Turret System
SEP / 11 FEB / 11
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33. Project Accelerators: OSX Flex Engineering
Advantages
Modules can be removed without damaging the project
Capable of treating a range of oil specifications
Potential gain: 5 months in the engineering phase
Status
Contract signed with Chemtech-Kromav-Exactum
First OSXflex units: OSX-4 and OSX-5.
MIN MAX MIN MAX MIN MAX
API RGO LDA
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35. ITN : Objectives
Qualification of up to 3,100 personnel in 23 functions by the
end of 2012
Use of SENAI’s facilities and faculty in the city of Campos, as
well as mobile units in São João da Barra. Macaé in the future
Scholarships providing financial assistance, food and
transportation
Estimated budget: R$ 12.7 million
SENAI São João da Barra
SENAI Campos
Fase 2 – Conhecimento, SENAI Macaé
Tecnologia e Inovação
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36. ITN : Phase I – Qualification and Training
City Aprox. Distance Work Force Population
São João da
20 Km 6.000 33.000
Barra
Campos 40 Km 92.000 460.000
Radius Up to 50 Km 98.000 493.000
Quissamã 75 Km 3.000 20.000
São Francisco 95 Km 3.000 41.000
São Fidelis 100 Km 5.000 37.000
Macaé 130 Km 113.000 206.000
Radius 2 Up to 150 Km 222.000 797.000
Curriculum planning
Adapting the necessary facilities
Classes scheduled to commence in January 2012
Organization and production of teaching material
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37. ITN : Phase II – Training at UCN Açu
40 specialists from Hyundai based in Brazil for 5 years
50 employees from UCN Açu to be trained at Hyundai’s shipyard in
Ulsan, South Korea (4 groups from August 2012 through April
2014)
Construction of ITN at UCN Açu, with an area of approximately
1.800 m2
Facilities for workshops, labs, classrooms, auditorium and library
Implementation of systems for simulation of operations and
Fase 2 – Conhecimento,
Tecnologia e Inovação
offshore units
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38. ITN – Phase III Supply Chain Strengthening
Identification of suppliers that have the potential to develop new materials,
equipment, and innovative work methodologies, focused on OSX’s potential
demand
ITN: Phase IV Technological Innovation
Establish partnerships with Brazilian and international academic institutions,
focused on the development and assimilation of new technologies
Fase 2 – Conhecimento,
Tecnologia e Inovação
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40. Next Milestones
First Oil OGX – December 2011
Beginning of construction: WHP-1 and WHP-2
Financing: OSX-3, WHP-1 and WHP-2
Contract shipyard to convert the OSX4 and OSX5 hull’s
Shipyard financing contract (Merchant Marine Fund)
New orders from OGX
Orders from third parties
37
