The Amplus Versatile Production Unit (VPU™) is a superior breed of DP FPSO which sets new standards in operations efficiency and safety.

Whether it’s early production, marginal field development, or unlocking stranded reserves – the economics and opportunities are now unlimited.

Amplus VPU Presentation, BP, Sunbury March 10, 2016

BP | AMPLUS VPU

Contents

Amplus Introduction

VPU™ Overview:

Vessel

Topsides Processing Equipment

Dis-Connectable Turret Buoy

VPU Safety Case

Provision of Duty Holder Services

SCU / SPCU (Topside Integration)

Shipyard Selection

Overview of SURF

Amplus Economics

Appendices

1-3

4-19

5-12

13-17

18-19

20-22

23-26

27-29

30-31

32-54

55-58

59-70

1 BP | AMPLUS VPU

DP FPSO – Well Proven Technology

(SWOPS Single Well Oil Production System)

1989 BP take delivery of DP FPSO Seillean and operated on Cyrus field. The vessel served on the Cyrus Oilfield in the UK and then the Donan oilfield.

1993 BP streamlined business and sold Seillean to Reading and Bates who continued to operate the vessel for BP.

1998 Petrobras approached Reading and Bates – while they were negotiating with Premier for development of Chestnut field – with a requirement for an early production vessel. This led to a six-year contract between Petrobras and Reading and Bates.

1999 Operated on the Roncador, Jubarte and Golfinho fields.

2010 Seillean contracted as oil collection and processing facility on the Macondo oil spill.

In 2008 Petrobras commenced a build of their own version of the Seillean DP FPSO (the Dynamic Producer), which has since been utilised for extended well testing in the Espirito Santo and Campos and Santo basins, in Brazil

2004 Munin operated on DP for Conoco Phillips on Xijiang field

2010 Munin operated on DP for 18 months on Huizhou Field for CACT

2005 Hurricane Rita destroys Typhoon field tension leg platform

2008 Helix convert ice class train ferry to dynamically positioned production unit, to redevelop Typhoon field

2010 Production commenced from Phoenix field (previously Typhoon)

The Helix Producer was also utilised in the Macondo spill response

BP Seillean DP FPSO

Munin DP FPSO

Helix Producer DP FPU

2 BP | AMPLUS VPU

NOBLE SEILLEAN (EX BP SWOPS) VPU AMPLUS ECONOMICS

DP2 DP3 An industry recognised highest quality system is included as standard within VPU day rate.

Process below deck Process above deck (offers client flexibility)

VPU arrangement enables the installation and removal of additional process modules, which facilitate flexible options for staged CAPEX. This helps to reduce major up front financial commitments while providing long-term cost savings for our client.

Variable pitch thrusters (high maintenance)

Fixed pitch frequency drive thrusters (low maintenance)

Delivers low fuel consumption

Enables VPU to stay offshore for a longer period i.e in excess of 5 years.

Rigid riser one flow path plus nitrogen kick off Flexible multiple risers control and power telemetry

Offers flexibility in running ESPs/ HSPs, water injection pumps, gas lift, gas export, as well as any other additional project requirements.

Fixed boom cranes Knuckle boom cranes Increased operability to allow loading and offloading of supply vessels in higher sea states.

BP SWOPS (Noble Seillean) vs Amplus VPU Solution

3 BP | AMPLUS VPU

General Safety West of Shetland (WoS) Operations

Both Amplus’s MD and Technical Director have extensive experience of operations West of Shetland, which resulted from the award by BP to Sub Sea Offshore to manage the construction activities related to the installation of the Schiehallion Field, WOS.

This included manifold installation and remote tie ins, flowline installation, FPSO mooring installation and tow out of the FPSO and riser installation.

All construction activities were undertaken from DP vessels and as a result of the experience gained, Sub Sea Offshore specified a new DP construction vessel, the Subsea Viking, which has been actively employed on construction and maintenance by BP for many years, WOS.

Safety was a priority for BP in the challenging environment and subsequently Sub Sea recommended Managing Director safety forums to share safety learnings. The forums were successful and continued for several years.

The effort was recognised by BP, which is reflected in the commendation letter attached.

4 BP | AMPLUS VPU

VPU Overview

4

5 BP | AMPLUS VPU

Modular concept allows for building blocks, catering for a full range of options

System designed to handle 30,000bpd. Option to increase capacity is available

Produced gas to be used in engines

Gas compression can be accommodated

Produced water treated and discharged to sea

BASE CASE COMPONENTS

Hull

Turret

Process

6 BP | AMPLUS VPU

Length 144m Length 192m Length 215m

Breadth 26m Breadth 32m Breadth 40m

112,000 bbl oil storage capacity 200,000 bbl oil storage capacity 360,000 bbl oil storage capacity

+OI 100 A1 Floating Production & Oil Storage Vessel

+OI 100 A1 Floating Production & Oil Storage Vessel

+OI 100 A1 Floating Production & Oil Storage Vessel

Offtake reel Offtake reel Offtake reel

Accommodation for 65 persons (35 person crew)

Accommodation for 70 (operating crew 37)

Accommodation for 70 (operating crew 42)

Quoted Cost $175M Quoted Cost $220M Estimated Cost $310M

Process Skid is included in cost DTS (Disconnectable Turret System) is included in cost

7 BP | AMPLUS VPU

PAST HURDLES LESSONS LEARNT

Poor project definition Amplus VPU specification refined over 5 years and subject to third party reviews

Optimistic Scheduling Amplus have undertaken several rounds of shipyard bidding and specified field proven standard equipment

Yard overbooked Yards currently have low order backlog due to industry downturn

Yard lacks experience Both yards proposed have experience in high specification vessels. The process system will be constructed by process system fabricator and delivered to shipyard

New technology not proven Amplus strategy is to utilise standard field proven equipment

Interfaces not clearly defined Amplus contracted NOV to undertake piping and services schematic to provide clarity for yard

Integration of software dependent systems not given enough attention

Amplus has nominated Siemens to provide integrated vessel management system and Siemens has liaised with all critical suppliers

DNV “Risk Ex” FPSO Lessons Learnt

8 BP | AMPLUS VPU

Lloyds Register

BP EXPERIENCE

Classification and verification of new-build FPSO Glen Lyon for UK North Sea

Verification of Clair Ridge new-build fixed platform complex for UK North Sea

Operational verification for all BP UK sector offshore installations

Classification for majority of BP managed marine fleet, both in-service and under construction

HELIX PRODUCER 1

Classification of DP FPU for Gulf of Mexico

Conversion and integration including DTS with FES, Newcastle

9 BP | AMPLUS VPU

VPU Operability

The Amplus VPU is designed to operate “Head to Weather” at all times. The VPU is so powerful, with an excess of 24 Megawatts of installed power, we can never envisage a situation of having to dis-connect for anything other than a planned event.

The Modelling we have done shows that the VPU can remain on station in Hurricane Force Sea conditions and still only use around 35% of her installed power.

A recently completed study for a major oil company proved that the Amplus VPU 200 could remain connected 365 days per year in the West of Shetland area of the UKCS.

24+Megawatts

365Days

35%usage

10 BP | AMPLUS VPU

Amplus VPU Inherent Integrity

DP FPSO Classification

To assure core marine safety and integrity the vessels hull, machinery and equipment will be constructed under survey of Llyods Register Classification to obtain the notation:

+OI 100 A1 Floating Production and Oil Storage Vessel +LMC, GF, UMS, IGS, LI, DP(AAA), SDA, FDA, Heli Deck

Maintenance

The vessel is designed and outfitted for a five year dry dock period and in water intermediate inspection. Maintenance has been considered in the design phase and storage tanks equipped with deep well pumps to simplify maintenance.

During the design phase Houlder Offshore Ltd undertook a study to determine the strategy to minimise interfaces and thereby maintenance issues for the major vessel machinery.

The disconnectable turret enables simple disconnection from the sub sea infrastructure and permits the vessel to move to harbour where full facilities in controlled conditions are available for any major maintenance or modifications required. This can be undertaken if required during routine export pipeline shut down periods for example.

It is intended to have the planned maintenance system developed during the build programme and the system will be managed in operation by the chief engineer.

It is intended to employ the OIM/Master, Chief Engineer and Electronics technician on commencement of the build programme.

Accommodation

Notwithstanding the fact that the vessel can be easily moved inshore for major unplanned maintenance and modification the vessel is designed with 100% redundancy over regular crew accommodation requirements.

Crew welfare was identified as a key parameter by the Health and Safety Executive in delivering a safe and efficient operation and has been considered in the design of the accommodation and associated facilities.

Accomodation is for 70, comprising 20 crew mainly in single cabins and 50 service personnel in single and double cabins.

The following fully furnished offices are provided: Engine Room Office, Catering Office, Reception Office, General Office, OIM office and Conference Room for 14 persons.

Public rooms include Coffee shop/duty mess, Mess Room to seat at least half compliment, Two dayrooms/recreation rooms, Helicopter lounge, Gymnasium, changing room, sports room and sauna.

Internet/PC room to accommodate 12 persons.

Fully equipped Hospital and Dispensary.

Access to the back deck is through port and starboard fully enclosed A60 rated access tunnels.

11 BP | AMPLUS VPU

Amplus VPU Inherent Integrity

VPU Power and Station Keeping Integrity

For installations on the UK Continental Shelf (UKCS), the Health and Safety Executive (HSE) Offshore Safety Division requires operators to use suitable and sufficient risk assessment to demonstrate that risks have been made as low as reasonably practicable. For DP systems, this is normally satisfied by an FMEA and trials.

Amplus have specified in the VPU design requirements that the FMEA will be a holistic study to include the process system and riser turret.

Vessel Management System

Amplus are aware that incidents have occurred on offshore vessels as a result of failures in the design process for PLC controlled systems.

The Vessel Management System will provide operational personnel with the real time information and control interfaces necessary to safely and efficiently manage vessel operations as well as assure safety of personnel, process and machinery. To achieve this safety objective, it is essential that the vessel owners and operators, equipment vendors and automation system integrators follow a clearly defined process to assure the functional safety of the automated VMS during the complete life cycle, from concept to commissioning.

Amplus Energy have specified the process defined in the IEC61508 and IEC61511 standards (IEC=International Electro-technical Commission) to provide assurance of the integrity of control systems.)

Helideck

Amplus Energy commissioned a design review by Houlder Offshore Ltd to optimise the position of the vessels helideck to minimise helideck movements while meeting other helideck design regulations.

Green Water

Lessons have been learnt from Green Water incidents and Houlder Offshore have reviewed and reported on measures taken in the vessel design to obviate the risks. Final confirmation of the success of these measures will be confirmed during the planned model testing.

Cranes

FPSO’s have conventionally been equipped with fixed boom cranes but to improve operability Amplus has specified a knuckle boom crane for supply boat operations.

12 BP | AMPLUS VPU

Environmental Discharges

Produced Water

The National Oilwell Varco process system will be equipped with a Compact Flotation Unit (CFU)

The inlet to the CFU is produced water from the Deoiling Hydrocyclone and produced water from the Electrostatic Coalescer.

It is the final polishing step in the produced water cleaning process and the outlet specification of the CFU is less than or equal to 20 ppm at which concentration water can be discharged overboard.

The produced water treatment of the Lancaster Field Product is not onerous for the NOV process system but In the unlikely event of out of specification produced water, a return line to the slops tank is included with constant monitoring available.

Flaring

Amplus has specified that the VPU will be provided with Wartsila dual fuel engines to provide maximum operational flexibility and reduce OPEX costs.

To assure the VPU can operate on a range of associated gas with either large amounts of heavier hydrocarbons or variable low methane compositions: the VPU will be equipped with Wartsila GasReformers.

The traditional way of getting rid of associated gas is either flaring, or burning in boilers, or gas turbines with high operational costs and low efficiency.

The Wartsila Gas Reformer has the following benefits:

Reduction in CO2 emissions

Minimise/cut flaring

Low NOx from dual fuel engines

Dual - fuel engines can operate on full load and efficiency

The Wartsila GasReformer has been approved by DNV and is field proven

Wartsila state an 8MW gas reformer reduces flaring by 1.5 million standard cubic feet per day and the VPU will have 3 x 8MW reformers installed.

This combined with the associated gas required for thermal oil heating boilers – for VPU storage tank heating – should consume the majority of associated gas from the Lancaster field – Circa 6MMSCF / per day

13 BP | AMPLUS VPU

NOV Process Topsides Overview

NOV’s design premise for the Amplus VPU focuses on:

VPU operating for between 2-5 years on one field

Minimised CAPEX outlay

Offering an optimised design for changing production

To achieve the best fit design NOV have:

Standardised components across the Process Topsides

Focused on conventional technology

14 BP | AMPLUS VPU

NOV Process Topsides has been designed to achieve required outlet specifications.

Typical being the following:

Basic Sediment and Water: <0.5%

Salt content of the crude: <200 mg / l (70PTB)

True Vapour Pressure: 12 psia @ 27oC

Oil in Water concentration: <20 mg / l

Treated fuel gas at 8 barg (for use in engines)

Metering: 1800 m3/h

Availability: >98.5%

NOV Process Topsides Outlet Specifications

15 BP | AMPLUS VPU

The key components of the NOV production system are:

Production Choke Manifold

Horizontal Production Separator

Electrostatic Coalescer with Degasser

2-Stage Produced Water Treatment

Direct seawater cooling system

Chemical Injection, Metering & Flare

Integration with VPU

Operational Asset Support Services

NOV Process Topsides Key Components

16 BP | AMPLUS VPU

17 BP | AMPLUS VPU

Amplus and NOV have evaluated the option of adding a compression system to the VPU with the following capability:

Duty / standby arrangement

Centrifugal / Screw compressors

15 - 45 MMSCFD gas total flowrate

Compression from 10 barg to 175 barg

Glycol dehydration package operating between 50-75 barg

Closed Loop Cooling system

Upfront engineering with installed connections for future installation to reduce time off-station

NOV Process Topsides Option for Additional Compression Solution

18 BP | AMPLUS VPU

Base Case - Turret

Standard turret designed for 6x 6 inch risers, 3x control umbilicals

FES supplied and installed Turret

19 BP | AMPLUS VPU

Quick Connect Disconnect Connector (QCDC)FES have worked very closely over the past 10 years to develop a QCDC – a key component – with a maximum capacity which allows the system to be safely disconnected in a matter of seconds without any spillage of oil, and to allow for a safe re-connection in a matter of hours. The QCDC consists of a number of interlocked valves and hydro-electric umbilical quick release stab plates. The upper half of the QCDC is connected to a turntable structure mounted on the vessel to allow the risers / umbilicals to maintain a geostatic position whilst allowing the vessel to weathervane 360 Degrees, thus maximising operational uptime. The lower half of the QCDC is connected to a buoyancy unit (riser buoy) which disconnects to go subsea.

The Current QCDC Design Limitations

The current QCDC design limitations would be based on the following:

Total QCDC load capacity including full pressure loads = 2000 Te

Total Structural capacity excluding pressure loads = 1500Te (approx.)

6 –off 6inch NB 5000 PSI fluid flow lines

3 – off Hydro-electric disconnectable stab plates

Maximum connected riser and umbilical tension = 25 Te (each).

20 BP | AMPLUS VPU

VPU Safety Case

20

21 BP | AMPLUS VPU

VPU Safety CaseAmplus have developed a generic draft safety case and draft design notification, and these will ultimately be finalised against a specific development.

During a paid feasibility study for Maersk Oil and Gas, a one-day HAZID was conducted with Maersk facilitated by ERM, with no major issues identified.

At the request of Hurricane Energy a meeting was arranged with the Health and Safety Executive to review the VPU concept which was also attended by EPC Ltd (now Costain). The HSE were very supportive of the concept and only commented on the need for a high standard of accommodation for offshore crews. Additionally, there was a day in the North Sea when there was no wind that had caused an issue with cold venting on an FPSO, which Amplus should consider. Amplus amended the VPU design to mitigate any risk associated with cold venting.

The HSE undertook to review the detailed vessel specification on an informal basis and only had minor comments on the specification.

The VPU was approved by the marine technical authorities in both Maersk and ConocoPhillips.

The following page contains Amplus’s VPU Activities Plan.

22 BP | AMPLUS VPU

         AES      Client        NOV      Other 1 2 3 4 5 6 7 8 9 10 11 121 FEED  Phase1.1 Project  HSE  Philosophy Lead Input Input Input1.2 Concept  Safety  Evaluation Input Lead1.3 Layout  Safety  Review Input Input Lead1.4 Coarse  HAZID  (identify  MAH) Lead Input Input1.5 Coarse  Envid Lead Input Input Input1.6 Coarse  HAZOP Input Input Lead Input1.7 Develop  SCE  Performance  Standards Lead Input Input Input1.8 Develop  ECE  Performance  Standards Lead Input Input Input1.9 Draft  Verification  Scheme Lead Input Input Input Description  of  Scheme  for  inclusion  in  DN1.10 Design  Notification Lead Input Input Input1.11 EIA  to  support  FDP  Submission Input Lead Input Input

2 Detailed  Design  Phase2.1 Detailed  HAZID Lead Input Input Input2.2 Detailed  HAZOP Input Input Lead Input2.3 Failure  Modes  &  Effects  Analysis Lead Input Input Input2.4 Fire  &  Explosion  Hazard  Analysis Lead Input Input Input2.5 Temporary  Refuge  Impairment  Study Lead Input Input Input Report  in  support  of  OSC  and  input  to  design2.6 Evacuation  Escape  &  Rescue  Analysis Lead Input Input Input Report  in  support  of  OSC  and  input  to  design2.7 Emergency  Systems  Survivability  Analysis Lead Input Input Input Report  in  support  of  OSC  and  input  to  design2.8 Dropped  Objects  Study Lead Input Input Input Report  in  support  of  OSC  and  input  to  design2.9 Ship  Collision  Study Lead Input Input Input Report  in  support  of  OSC  and  input  to  design2.10 Relief  and  Blowdown  Study Input Input Lead Input Report  in  support  of  OSC  and  input  to  design2.11 Hazardous  Areas  Classification Input Input Lead Input Report  in  support  of  OSC  and  input  to  design2.12 Flare  Radiation  Study Input Input Lead Input Report  in  support  of  OSC  and  input  to  design2.13 Safety  Integrity  Level  (SIL)  Assessments Input Input Lead Input Report  in  support  of  OSC  and  input  to  design2.14 Marine  Systems  Hazard  Assessments Lead Input Input Input Report  in  support  of  OSC  and  input  to  design2.15 Pipelines  &  Risers  Hazard  Study Input Lead Input Input Supporting  MAPD  and  input  to  design2.16 Cargo  Tank  Venting  Study Lead Input Input Input Report  in  support  of  EIA  and  input  to  design2.17 Shuttle  Tanker  Loading  Study Lead Input Input Input Input  to  detailed  engineering  &  operational  guides2.18 Human  Factors  Study Lead Input Input Input Report  in  support  of  OSC  and  input  to  design2.18 Design  Safety  Review Lead Input Input Input Report  in  support  of  OSC  and  input  to  design2.19 Quantitative  Risk  Analysis  (QRA) Lead Input Input Input Input  to  OSC  in  support  of  ALARP  Demonstration2.20 ALARP  Demonstration Lead Input Input Input Key  requirement  of  OSC  acceptance  by  CA2.21 Detailed  ENVID Lead Input Input Input Input  to  plant  design  and  to  installation  EMP2.22 Develop  Detailed  SCE  Perf.  Standards Lead Input Input Input Input  to  Verification  Scheme  and  Integrity  MS2.23 Develop  Detailed  ECE  Perf.  Standards Lead Input Input Input Input  to  Verification  Scheme  and  Integrity  MS2.24 Verification  Scheme Lead Input Input Input OSC  Regulatory  and  key  operational  requirement2.25 Well  Examination  Scheme Input Lead Input Input OSC  Regulatory  and  key  operational  requirement  2.26 Environmental  Impact  Assessment Input Lead Input Input Input  to  Aspects  &  Impacts  Register  and  EMP2.27 Major  Accident  Prevention  Document Input Lead Input Input Required  by  Pipelines  Safety  Regulations2.28 Operations  Safety  Case  (OSC) Lead Input Input Input Offshore  Safety  Case  Regulations  2015

Report  to  influence  detailed  process  design

Philosophy  documentReport  to  support  Design  Notification  (DN)Report  to  support  Design  Notification  (DN)Report  to  support  Design  Notification  (DN)Report  to  support  DN  &  Environmental  Statement  (ES)

*NOTE:  All  HS&E  activities  set  out  in  this  table  will  have  some  Regulatory  compliance  requirement  but  are  all  also  integral  to  the  delivery  of  a  safe  and  reliable  VPU  and  hence  are  elements  of  the  design  processes

Amplus  Versatile  Production  Unit  (VPU)  -­‐  Project  HSE&E  Activities  and  DeliverablesResponsibility *Output  &  Purpose Programme  Schedule  (Month)

Input  to  detailed  engineering  &  operational  guidesReport  in  support  of  OSC  and  input  to  design

Activity

Input  to  design  and  driving  Project  Action  RegisterInput  to  design  and  driving  Project  Action  Register

Initial  list  of  SCE  to  support  DNInitial  list  of  ECE  to  support  DN  and  ES

OSCR  15  submission  to  Competent  Authority  (CA)ES  to  support  new  or  revised  FDP

VPU Activities Plan

23 BP | AMPLUS VPU

Provision of Duty Holder Services

23

24 BP | AMPLUS VPU

The Amplus and Aker Solutions memorandum of understanding / confidentiality agreement in place – covers all project phases from concept through to operations

Aker Solutions is present in Angola with existing subsea work and wants to expand into asset support services

BP is a strategic client for Aker Solutions in Angola

Aker Solutions as Duty Holder Support Partner

25 BP | AMPLUS VPU

Aker Solutions’ Experience

As a seasoned duty holder and platform operator with over 15 years’ experience, Aker Solutions fully understands all asset operation regulatory and licensing requirements associated with running an operational asset

Aker Solutions has developed a specific duty holder management system (DHMS) for running an operational asset

DHMS comprises all processes and procedures needed to maintain the safety case and ensure regulatory compliance is achieved across all HSEQ disciplines

Operations readiness and start up

competence

knowledge skill

operatingattitude

educ

atio

n

valu

es

training experience / time

currency

behaviours

Design Notification

We can provide a design notification service to satisfy regulatory requirements

Safety Case

Installation verification

ALARP

Aker Solutions has extensive experience in demonstrating that all major accident hazards have been reduced to a level which is as low as reasonably practicable (ALARP). The techniques we use are industry standard and involve quantified risk assessment (QRA) calculations and cost benefit analysis (CBA)

26 BP | AMPLUS VPU

Verification and interface with the IVB

As duty holder we are responsible for establishing and managing a verification and operational assurance scheme

Definition of Major Accident Hazards (MAHs) in accordance with the requirements of the safety case. Development of list of safety critical elements (SCEs). Performance standards for each SCE define the criteria within which each SCE must be maintained. Once in operation a set of operational assurance routines is developed with an associated verification scheme prepared in conjunction with an approved IVB organisation

Consents and approvals

Significant framework of legislation compliance to be considered and approvals sought for operating

In-depth knowledge of the licensing and regulatory requirements covering offshore oil and gas operations

Aker Solutions’ Experience

27 BP | AMPLUS VPU

SCU / SPCU (Topside Integration)

27

28 BP | AMPLUS VPU

TopologySCU / SPCU I

Topology SCU / SPCU I

29 BP | AMPLUS VPU

TopologySCU / SPCU II

The topside SCU node is an interface between the subsea vendor equipment and the topside DCS orstandalone system. The SCU node enables the operator to control the subsea wells and collect vital data:

Valves, chokes including valve footprint;

Analogue monitoring for wells and manifolds

Down hole measurement, MPFM, MEG, Sand rate and more

Shutdown handling and application interlocks

Communication towards subsea vendor equipment

Interface towards HPU, PSD, ESD and utility systems

Barrier testing and well maintenance

The SCU can be designed with single or redundant HW. Siemens Oil & Gas uses the PCS7 410H as the SCU controller. The SCU software are designed in IEC 61131-3 (structured coding)The communication towards subsea can be of various types Modbus onTCP, Modbus RTU, FMC 722, TCPI/IP, Profinet, Profibus etc

30 BP | AMPLUS VPU

Shipyard Selection

30

31 BP | AMPLUS VPU

Shipyard SelectionAmplus has undertaken three rounds of enquiries to shipyards for lump sum quotations for the VPU vessel build

First Round 1

Houlder developed an outline VPU specification for initial pricing to determine the vessel would be built at a price that was acceptable for the development of marginal oilfields

Budget prices were received from Far Eastern and European shipyards which determined that the CAPEX cost for the vessel were acceptable

Second Round

Houlder went on to develop a 100 page specification for the second round of bidding. This was for the 100,000 barrel storage capacity vessel with a rigid drill pipe riser system.

Both the Hyundai Mipo shipyard in Korea and the Wadan Shipyard in Germany provided attractive quotations.

2

During the evolution of the VPU design it became apparent that the single riser did not offer the flexibility required by prospective clients to provide gas lift, gas export, power for ESP’s multiple production risers. Amplus then identified the FES disconnectable turret system which was North Sea field proven and had been accepted by the US Coastguard for use in the Gulf of Mexico. The turret was incorporated in the design and Houlder undertook some steelwork design work in the moonpool area to confirm the turret could be integrated into the vessel.

Several clients requested more storage capacity and in response Houlder were commissioned to write a more detailed specification for a 200,000 barrel unit with the FES turret system.

This 300 page specification was issued to Far Eastern and European shipyards. Consequently the most attractive offers were received from Vard in Norway and Dame in Holland.

Shipyard slots are available at Vard and Damen in the third quarter of 2016 with a 24-26 month delivery schedule for the VPU.

Third Round 3

32 BP | AMPLUS VPU

Overview of SURF

32

33 BP | AMPLUS VPU

Very Broad Execution Capabilities in Subsea

34 BP | AMPLUS VPU

Technip Subsea – Position and Activities

35 BP | AMPLUS VPU

An Enhanced Subsea Technology Network

36 BP | AMPLUS VPU

New Steps for the Offshore IndustryFrom Subsea to Surface

37 BP | AMPLUS VPU

Established Deep Water Track Record

38 BP | AMPLUS VPU

UDW R&D Programme Overview

39 BP | AMPLUS VPU

FSFR® Concept Overall Description

40 BP | AMPLUS VPU

FSFR® Advantages

41 BP | AMPLUS VPU

FSFR® Offers System SimplificationFSFR® Advantages relative to FSHR

42 BP | AMPLUS VPU

Carbon Fibre Armours Description

43 BP | AMPLUS VPU

CFA Weight Reduction Example

44 BP | AMPLUS VPU

CFA Full Scale Testing

45 BP | AMPLUS VPU

IPB Capabilities Can Be Added

46 BP | AMPLUS VPU

IPB Flexibles Layer Make-up

47 BP | AMPLUS VPU

IPB Track Record

48 BP | AMPLUS VPU

Key Conclusions

49 BP | AMPLUS VPU

Forsys Subsea – the 50/50 Joint Venture as an enabler to demonstrate the Alliance value

THE ALLIANCE FOR SURF & SPS INTEGRATED APPROACH

Subsea Production Systems Field Architecture Flexible Flowlines

Subsea Separation and Boosting Systems

Flow Assurance Umbilicals

Control and Automation Systems Front-end studies Pipeline/Flowline/Jumper Installation

Subsea Well Intervention Life of Field Surveillance Subsea Equipment Installation

Subsea Services Joint R&D Platform design, fabrication, installation

Topsides design and fabrication

The Exclusive Alliance

50 BP | AMPLUS VPU

Integrated Approach to Field Design, Delivery and Life of Field

Seamless transition between project phases - Forsys Subsea personnel transferred into Execution

Elimination of interfaces through combined SPS and SURF scopes

Forsys Subsea will pull on all capabilities within parents

Concept Definition FEED Integrated

Execution Life of Field Surveillance

Subsea Intervention

How this Exclusive Alliance works?

51 BP | AMPLUS VPU

Optimized subsea architecture

Mitigated project risks

Reduced time to first oil

Optimized offshore installation campaigns

Improved performance over the life of field

Joint SPS+SURF R&D and technology application for increased value creation

What will the Alliance and Forsys Subsea offer?

52 BP | AMPLUS VPU

53 BP | AMPLUS VPU

54 BP | AMPLUS VPU

55 BP | AMPLUS VPU

Amplus Economics

56 BP | AMPLUS VPU

EXISTING FPSO AMPLUS VPU - DTS (Disconnectable Turret System)

Connect time 54 days / 5 months Connect time 3/4 hours

Disconnect time 2/4 weeks Disconnect time 4 hours

Can be difficult to take off station Emergency disconnect time: 30 seconds

Long production outage for off station work Short production outage for off station work

MOORED FPSO AMPLUS VPU - DP3 DYNAMIC POSITIONING

Cost of the moorings, their installation and ultimate removal

c30M$ Cost of the moorings, their installation and ultimate removal

0M$

Costs burden on the development schedule from weather dependencies of mooring

c10M$ Costs burden on the development schedule from weather dependencies of mooring

0M$

Conventional Solution vs Amplus VPU Solution

The Amplus VPU is designed to reduce risk, achieve early production, and lower both CAPEX and OPEX.

57 BP | AMPLUS VPU

FIXED PLATFORM TANKER CONVERSION TO FPSO VPU200

COST $841M $800M $220M

Based on the recently published figures for a conventional fixed platform, West of Shetland.

Based on publicly quoted figures for a recent North Sea FPSO Conversation

Build Costs for Existing Solutions vs Amplus VPU Solution

58 BP | AMPLUS VPU

VPU Cost Profiles

VPU200 COSTS (PER DAY) circa $300K including OPEX, logistics and support costs

PRODUCTION 15kbpd 20kbpd 30kbpd

LIFTING COST $20bbl $15bbl $10bbl

OPTIMUM ECONOMIC UTILISATION

A unit with 2/3 production wells delivering a combined 30kbpd over a five year profile, at GOR rates sufficient for VPU fuel needs and production support via Water Injection / ESP`s can operate at circa $10bbl lifting cost

Outline all-in costs $300k per day (Bare-boat $185kpd + $115kpd for OPEX, logistics and support cost)

59 BP | AMPLUS VPU

Appendices

60 BP | AMPLUS VPU

8MW Wartsila Gas Reformer

When the final flow line and tank heating requirements are established, our study conducted by Houlder into the use of associated gas through the Wartsila Gas Reformers concludes that we would effectively use 6 mmscfd of associated gas per day for power generation and heating requirements.

The associated gas separated from crude oil is often flared because it varies in composition and contains a lot of heavier hydrocarbons and is an unreliable fuel source.

The Wartsila GasReformer Technology is based on steam reforming a catalytic process from the petrochemical industry.

The methane number of any fuel gas is improved up to 100 + or - 5 by converting the heavier hydrocarbons to synthesis gas and finally to methane.

With the Wartsila GasReformer dual fuel engines can be utilised with high efficiency, reliability and flexibility.

8MW Gas Reformer

Length:

Height:

5.8m

3.5m

Width:

Weight:

3.5m

18.5 Tonnes

61 BP | AMPLUS VPU

Overall VPU Process Topsides

62 BP | AMPLUS VPU

Turret to Inlet Separator

63 BP | AMPLUS VPU

Separation Module

64 BP | AMPLUS VPU

Flare Knockout

65 BP | AMPLUS VPU

Offloading

66 BP | AMPLUS VPU

Plan View

67 BP | AMPLUS VPU

Gas Compression Module

68 BP | AMPLUS VPU

Glycol Dehydration

69 BP | AMPLUS VPU

Plan View

70 BP | AMPLUS VPU

Overall VPU Process Topsides