FPSO Business Plan and Decommissioning Themes

Transcription

1 Marine Money Forum Brazil FPSO Business Plan and Decommissioning Themes Marine Money Forum Brazil Thiago Baraldi Ferreira Strategic Sourcing and Categories Management October 2018

2 Marine Money Forum Brazil

3 AGENDA PETROBRAS Supply Chain Management Overview Business Plan FPSO Business Models Decommissioning Themes Conclusion

4 AGENDA PETROBRAS Supply Chain Management Overview Business Plan FPSO Business Models Decommissioning Themes Conclusion

5 OVERVIEW Procurement & Contracts VALUE GENERATION MINDSET THROUGH CATEGORY MANAGEMENT MOVING FROM A TRANSACTIONAL RELATIONSHIP TO NEW BUSINESS MODELS STRATEGIC SOURCING AND SUPPLIER MANAGEMENT SOURCING AND PROCUREMENT Partner to the Business Capital Projects Services Goods

6 AGENDA PETROBRAS Supply Chain Management Overview Business Plan FPSO Business Models Decommissioning Themes Conclusion

7 CAPEX Source: Business and management plan

8 PRODUCTION PROFILE Production (Million BPD) 2,500 2,5 2,0 2,000 1,5 1,500 1,0 1,000 0,5 500 Deep water Marlim Ultra-deep water Marlim Sul Pre-salt Lula/Lapa/Búzios Pre-salt Ultra-deep water >1500 Deep water >300m Shallow water <300m Onshore Onshore Post-salt Pre-salt

9 EXPERIENCE AND LEARNING CURVE Accumulated Oil Production (Million barrels ) 1, PRE-SALT 6 YEARS NORTH SEA 8 YEARS GOM 14 YEARS CAMPOS BASIN 15 YEARS PETROBRAS 26 YEARS Years from first oil

10 START-UP OF 19 NEW PRODUCTION UNITS BY 2022 Source: Business and management plan

11 AGENDA PETROBRAS Supply Chain Management Overview Business Plan FPSO Business Models Decommissioning Themes Conclusion

12 A DIFFERENT APPROACH STANDART APPROACH AND POSSIBLE VARIATIONS STANDARD APROACH MODEL ENGINEERING CONSTRUCTION OPERATION OIL COMPANY S CASH FLOW OWNED FPSO OIL COMPANY S BASIC ENGINEERING Higher interface, harder to allocate responsibility of change orders OIL COMPANY S LOGIC OIL COMPANY S PERSONEL CAPEX OPEX LEASED FPSO OIL COMPANY S NEEDS (General Technical Description GTD) Lower interface, more accountability of change orders CONTRACTOR S LOGIC CONTRACTOR S PERSONEL CAPEX OPEX VARIATIONS MODEL ENGINEERING CONSTRUCTION OPERATION OIL COMPANY S CASH FLOW BOT OIL COMPANY S NEEDS (General Technical Description GTD) Lower interface, more accountability of change orders CONTRACTOR S LOGIC (possible influence of oil company) MIXED PERSONEL (Phase1;Phase2) CAPEX OPEX BOOT/LEASED OIL COMPANY S NEEDS (General Technical Description GTD) Lower interface, more accountability of change orders CONTRACTOR S LOGIC CONTRACTOR S PERSONEL CAPEX OPEX

13 DECISION MAKING DRIVERS Key elements Financial return ($) Other decision making drivers ECONOMICAL ASPECTS Financial strategy: difficulties or access to cheaper money Time constraints (lead time for 1st oil) Direct cost Cost mechanisms Recovery STRATEGIC ASPECTS Projects/fields with large scale Flexibility to implement improvements during operation phase Oil company with in-house expertise (design, construction and operation)

14 WAY FORWARD MAIN PILARS TO A SUCESSFULL BUSINESS MODEL Selection of Contractors (track record and competency) 1 KEY TAKEAWAYS Leased and Owned è Balanced Portfolio Operation experience is an advantage (able to work better with functional requirements) 3 accountability of change orders Sucessfull project 2 Incentives alignment (business model) Clearly defined specifications Maximize outcome: Uptime, lead time and cost (lifecycle) Financial aspects play a big role in this market

15 INTERACTION WITH MARKET WS OPERATORS q 1º WS: Contratual Analysis major difficulties clauses of greater impact on competitiveness q 2º WS: Law / BOT Model / Contract Management / Repetro Sped q 3º WS: BOOT Model Build / Own / Operate / Transfer q Interact with the supplier market to identify and minimize aspects that restrain and reduce competition. WS FINANCIERS q 1º WS: Contratual Analysis major difficulties for financing q 2º WS: Law / BOT Model / Repetro Sped q 3º WS: BOOT Model Build / Own / Operate / Transfer q Interact with funders to identify main difficulties for FPSO financing and specific difficulties for the financing of medium-sized FPSO operators.

16 AGENDA PETROBRAS Supply Chain Management Overview Business Plan FPSO Business Models Decommissioning Themes Conclusion

17 Petrobras has an extensive portfolio of exploration and production development projects, as well as some assets to be decommissioned... Exploration Production development Production Decommissioning / Deactivation Purchase of 20 new exploratory blocks since new production units in Brazil until 2022 Increase of 800 thousand barrels/day until ongoing decommissioning projects

18 MAIN AREAS AND CHALLENGES Topside Subsea System Wells 3 All operations are precedents of the appropriate authorizations of the competent agencies

19 AGENDA PETROBRAS Supply Chain Management Overview Business Plan FPSO Business Models Decommissioning Themes Conclusion

20 TO SUM UP... FPSO Business Plan There is a pipeline of projects for the next years PETROBRAS is considering new business models Maximized outcome trough : Uptime, lead time and cost (lifecycle) Financial aspects play a big role in this market Decommissioning The regulatory framework is under development in Brazil, with the participation of Companies, regulatory agencies and universities The Scenario in Brazil has its own particular challenges, with wide usage of subsea systems which require customized solutions based on international experience There are optimization opportunities in the development of techniques and new commercial models

21 THANK YOU! Information: Investor Relations