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Subsea Opportunities in PowerPoint example Asia Pacific Heading Arial bold 54pt Sub Arial bold 28pt 17 June 2020 SDI Asia Pacific Energy Trade Team Kevin Liu Helen Chen Ketan Pednekar Sridaran Sabapathy Yukiyo Miyakita Regional Lead

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PowerPoint example Heading Arial bold 54pt

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Subsea Opportunities in Asia Pacific

17 June 2020

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SDI Asia Pacific Energy Trade Team

Kevin Liu Regional Lead

  • Offshore wind
  • Marine energy
  • Project finance

Helen Chen China

  • Subsea services
  • Decommissioning
  • Offshore wind

Ketan Pednekar India

  • Offshore E&P
  • Subsea services
  • Decommissioning

Sridaran Sabapathy Southeast Asia

  • Offshore E&P
  • Decommissioning
  • Distributed energy

Yukiyo Miyakita Japan

  • Offshore wind
  • Marine energy
  • Hydrogen
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Kevin Liu

Head of China and Head of Energy Asia Pacific Scottish Development International Beijing kevin.liu@scotent.co.uk

Based at the British Embassy in Beijing, Kevin is the senior China representative for Scottish Development International, the Scottish Government’s international economic agency. He also leads the agency’s trade development work in the energy sector across the Asia Pacific region, with a team of specialists in Beijing, Tokyo, Mumbai and Kuala Lumpur supporting Scottish companies in subsea engineering,

  • ffshore renewables, hydrogen and energy systems.

Prior to joining SDI, Kevin led the UK Department for International Trade’s communications and marketing team in Asia Pacific, and before that was part of a Scottish whisky distillery startup. He began his career in UK Government Communications, then spent eight years in the political risk industry, specialising in energy, infrastructure, insurance and project finance in the emerging markets.

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Senior Energy Specialist – China Scottish Development International Beijing helen.chen@scotent.co.uk

Helen Chen

Based at the British Embassy in Beijing, Helen leads on energy trade development in China for Scottish Development International, the Scottish Government’s international economic agency. She has been with the agency for over 17 years, during which she has developed great expertise on China’s energy industry and supported numerous Scottish companies to win business in this exciting yet complex market. Helen’s focus in the year ahead includes promoting Scotland’s offshore engineering services to Chinese operators and contractors, exploring

  • pportunities in hydrogen transportation, and supporting Scottish supply

chain companies to enter China’s world-leading offshore wind market.

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Ketan Pednekar

Senior Energy Specialist – India Scottish Development International Mumbai ketan.pednekar@scotent.co.uk

Based at the British Deputy High Commission in Mumbai, Ketan leads

  • n energy trade development in India for Scottish Development

International, the Scottish Government’s international economic agency, focusing on promoting Scotland’s offshore engineering services to India’s public and private operators. He is also exploring opportunities in India’s emerging offshore wind and tidal sectors. Ketan has worked in the Indian energy industry for over 20 years, including senior positions at Mumbai and Karaikal ports, and 14 years in engineering and business development at Reliance Industries. He is also a specialist in asset integrity management and design verification.

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Sridaran Sabapathy

Senior Energy Specialist – Southeast Asia Scottish Development International Kuala Lumpur sridaran.sabapathy@scotent.co.uk

Based at the British High Commission in Kuala Lumpur, Sri leads on energy trade development in Southeast Asia for Scottish Development International, the Scottish Government’s international economic agency, focusing on offshore and renewable energy opportunities in Malaysia, distributed generation in Indonesia, hydrogen and decommissioning in Brunei, and offshore wind in Vietnam. Prior to joining SDI, Sri worked on trade promotion and policy projects for the British Malaysian Chamber of Commerce, working closely with the UK Department for International Trade, and sat on the Chamber’s energy committee. He began his career with BP.

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Senior Energy Specialist – Japan Scottish Development International Tokyo yukiyo.miyakita@scotent.co.uk

Yukiyo Miyakita

Based at the British Embassy in Tokyo, Yukiyo leads on energy trade development in Japan and Northeast Asia for Scottish Development International, the Scottish Government’s international economic agency, focusing on offshore wind, tidal and hydrogen opportunities for Scottish developers and supply chain companies. She is also exploring collaboration with Japanese energy companies in third countries. Prior to joining SDI, Yukiyo worked as a trade advisor for the UK Department for International Trade for over 16 years, specialising in energy and infrastructure. She began her career with the Japanese Ministry of Foreign Affairs and the Development Bank of Japan.

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Introduction

Kevin Liu

Head of Energy Asia Pacific / Head of China Scottish Development International Beijing kevin.liu@scotent.co.uk

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SDI Asia Pacific Energy Trade Team

Scotland China India Southeast Asia Japan Helen Chen Beijing Ketan Pednekar Mumbai Sridaran Sabapathy Kuala Lumpur Yukiyo Miyakita Tokyo Ian Ross Offshore E&P Subsea Services Offshore Wind Murray Bainbridge Offshore E&P Subsea Services Decommissioning Offshore E&P Decommissioning Marine Energy Offshore Wind Marine Energy Hydrogen

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Helen Chen

Senior Energy Specialist – China Scottish Development International Beijing helen.chen@scotent.co.uk

China

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  • With covid-19 largely contained, China is returning to
  • normal. According to official reports, as of 25 March

2020, 96.6% of large and medium-sized enterprises are already working again.

  • PMI rebounded to pre-crisis levels at 50.6 in May

2020 and remained above 50 for three months, from a record low of 35.7 in February 2020.

  • Government support is so far focused on critical

infrastructure spending, including transport, construction, environment and agriculture.

  • Further stimulus will be directed to telecoms and

technology, including 5G network, data centres, smart cities and smart grids, in anticipation of the 14th Five- Year Plan (2021-2025).

China’s Recovery from Covid-19

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  • Limited disruption from COVID-19 as all 120 offshore

platforms continued operating. CNOOC reported a 15.9% increase in net profit in 2019, with 17 new domestic discoveries in Bohai Bay and South China Sea.

  • 2020 capex is likely to be reduced to around $12

billion, the lower limit of its previous forecast, with 227 exploration wells and 8 new domestic projects still on schedule, and its new offshore wind project in Shantou already started.

  • Ambitious 7-Year Action Plan (2019-2025) to increase

production by 23% to 70 million tonnes oil equivalent in

  • 2025. There are opportunities in subsea engineering

specific to emergence response, decommissioning and offshore wind.

Key Target – CNOOC

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SDI Activities

  • With travels been cancelled due to COVID-19, we have

been promoting Scottish supply chain capabilities mainly through webinars and social media.

  • So far we have assisted around 40 Scottish

companies since April and included them in our

  • ngoing engagement with CNOOC and potential

partners.

  • 11 Chinese companies came to us asking for more

information and expressed interest in specific areas such as ROV, subsea inspection tools, pipeline inspection and repair solutions, riser analysis etc.

  • We are planning to bring a trade delegation to the

Deepwater Energy Conference in Hainan and meet with COOEC Subsea in Shenzhen in November.

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India

Ketan Pednekar

Senior Energy Specialist – India Scottish Development International Mumbai ketan.pednekar@scotent.co.uk

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India Energy Outlook

  • Our focus is on ONGC and Reliance-BP, which

appear less affected by the current downturn.

  • India will likely remain one of the world’s top energy

consumers (currently third), with crude oil and gas consumption projected to increase 3-5% by 2040.

  • GoI will push ahead to reduce reliance on imports and

increase domestic production, including a projected 20% increase in refining capacity by 2025.

  • By 2040, renewable energy is set to account for

around 45% of power generation (including a target of 30GW in offshore wind capacity by 2030), while coal drops from the current 74% to around 46%.

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Current Offshore E&P Activities

ONGC

  • Eastern Offshore – G1 Fields (4 wells), Vashistha and

& S1 Fields (4 wells), KG 98/2 Block Development (34 wells – under development)

  • Western Offshore – Mumbai Offshore for marginal

fields (11 wells) Reliance Industries – BP

  • Eastern Offshore – D1 D3 Fields, MA Field

(production ceased); R Cluster, Satellite Cluster, MJ Fields (under development); NEC-OSN-97/2 (FDP submitted)

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Upcoming Offshore E&P Activities

Open Acreage Licensing Policy V Bidding Ongoing bidding for ultra deep water block CY-UDWHP-2019/1 KG‐DWN‐98/2 Block Cluster‐1 + GS‐29 Development KG‐DWN‐98/2 Block Cluster‐3 Development KG‐OSN‐2004/1 Block + GS‐49 Development Overview 6 Oil wells + 2 gas wells, 80-700 m (4 wells > 400 m) 9 gas wells (UDW), 2400-2900 m 11 gas wells, 7-320 m Value US$665 million US$3.2 billion US$560 million Award Year 2020 2021 2020 Production 2022 2023-24 2022

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Decommissioning and P&A

D1 D3 Field MA Field

Reliance Industries is planning P&A of 25 subsea wells in its MA and D1-D3 fields in the next 2-3 years. Most of the subsea Xmas trees are from Aker Solutions. MA Field

  • Production stopped in September 2018
  • 7 subsea wells in 1100m to 1400m water depth

D1-D3 Fields

  • Production stopped in February 2020
  • 18 subsea wells, 6 subsea manifolds in 400m to

2700m water depth

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Margin Field Development

  • The Indian Government awarded blocks to various

independent operators for Discovered Small Fields / Marginal Fields through bidding.

  • Operators are looking for innovative and cost effective

development of these marginal, shallow water offshore blocks.

  • Innovative technologies like ‘Tieback of the Future’

could be of significant interest to these operators.

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Malaysia

Sridaran Sabapathy

Senior Energy Specialist – Southeast Asia Scottish Development International Kuala Lumpur sridaran.sabapathy@scotent.co.uk

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Malaysia and PETRONAS

PETRONAS cuts CAPEX by 21%

  • Domestic projects are unlikely to be affected, however that would change should current economic condition persist or

worsen. New Leadership at PETRONAS

  • Tan Sri Wan Zulkiflee Wan Ariffin will be replaced by his CFO Tengku Muhammad Taufik.
  • With the new CEO, industry players are expecting a VP reshuffle at PETRONAS, thus potentially delaying major

announcement on some projects and other initiatives. Revamping Petroleum Development Act 1974

  • Current posturing by the federal government suggests that the legislation may be changed to provide more autonomy over

petroleum resources to states in East Malaysia.

  • State-level public sector oil companies are likely to have more discretion over the development and extraction of its

petroleum resources.

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Acreage

1. Petronas Carigali 2. Conoco Philips 3. Lundin Petroleum 4. JX Nippon 5. Mubadala Petroleum 6. Ophir Energy 7. HESS 8. KPOC 9. TOTAL E&P

  • 10. RHP Mukah
  • 11. Enquest Petroleum
  • 12. Sapura Energy
  • 13. Repsol
  • 14. Exxon Mobil
  • 15. Shell
  • 16. PEXCO N.V.
  • 17. Murphy Oil
  • 18. Ophir Production
  • 19. PCPP Operating Company
  • 20. Petrofac
  • 21. PTTEP
  • 22. Coastal Energy
  • 23. Vestigo Petroleum
  • 24. Hibiscus
  • 25. Roc Oil
  • 26. Pertamina
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Upstream Overview

DRO Oil Fields DRO Gas Fields Mostly are in close proximity to producing assets Some fields with more than 1tcf Single or Cluster fields for development Can be clustered for sizeable development Require technology to manage contaminants Discovered Resource Opportunities

  • Malaysia has more than 12 billion barrels of oil equivalent

(bboe) of undeveloped resources awaiting to be monetised.

  • This presents great opportunities for new entrants and

existing players to invest in marginal fields or Discovered Resource Opportunities (DRO) and extending value of Late Life Assets (LLA) until abandonment. Platforms & Subsea Structures Pipelines Floaters 353 Offshore Platforms 616 Lines 7 FPSOs 1 Tension Leg Platform 10,235 km 8 FSOs 14 Subsea Structures 2 FPLNG 1 MOPU 1 FPS 1 SPAR

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The following will be key points for typical marginal field development in shallow water offshore Malaysia:

Late Life Assets (LLA)

Snapshot

  • Fields adequately

developed with growing maturity

  • < 30 Million stock tank

barrels (MMstb)

  • Single, Clusters of fields for

development Item Consideration

Topside

  • Minimal Fixed Platform (Topside weight within 500MT)
  • Used but good condition Topside

Jacket

  • Minimal structure to suit to Topside weight, metocean criteria and design fatigue life

Pipeline

  • Rigid Pipeline (if more than 10km)
  • New technology i.e. Non-metallic Pipeline (if less than 5km) – Note: restriction on

design temperature and pressure

  • Flexible Pipeline
  • Reinforced Thermoplastic Pipeline

Others

  • Subsea wells (for development less < 2 wells)
  • Economic of Scale
  • Design one build many concept
  • Group discount (engineering and fabrication)
  • Single campaign (installation)
  • Rig installed platform (installation)
  • Focus on redeployment
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44% of facilities in Malaysian waters are

  • perating beyond design life.

Key players in Malaysia for P&A:

  • Velesto Energy
  • Vantage Energy Group
  • Uzma Bhd
  • Haliburton
  • PETROFAC
  • Muhibbah

PETRONAS Integrated Abandonment Services Umbrella Contract

Plugging & Abandonment

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Market Research for Scottish based companies

  • Primary research – SE Research Services (FREE!) research@scotent.co.uk
  • Second research – DIT OMIS (quote on demand)
  • GlobalScots
  • Independent bespoke research

Upcoming Events

  • Malaysia – Virtual North Sea Technology Week (Aug)
  • India – Indian Energy Forum (Oct)
  • China – Offshore Wind Webinar Series (Jun-Nov)
  • China – Deepwater Energy Conference (Nov)

Further Support and Contact