Name and Location
Pazflor oilfield development project, Gulf of Guinea, off Angola.

Project Description
The project involves the development of the Pazflor oilfield, located 150 km off Angola, in the prolific block 17. The field consists of the Perpetua, Acacia, Zinia and Hortensia reservoirs, which cover an area of 600 km², lying under 1 200 m to 2 100 m of sediment, in water depths of 600 m to 1 200 m.

The project will target the development of hydrocarbons in two independent reservoir structures, namely the Oligocene reservoir (Acacia field), which contains light crude oil, and the Miocene reservoirs (Perpetua, Zinia and Hortensia), containing deposits of heavy crude oil.

Pazflor will produce into a 325-m-long, 61-m-wide and 32-m-high floating production, storage and offloading (FPSO) vessel, which will process oil produced by a system of 49 subsea wells that includes 25 producers, 22 water injectors and two natural gas injectors.

The FPSO unit will have an oil-processing capacity of 200 000 bbl/d of oil, 150 million cubic feet of natural gas a day and a storage capacity of about 1,9-million barrels of crude.

Value
The project carries a budgeted cost of about $9-billion.

Duration
First oil is expected in early September 2011.

Client
Total E&P Angola is the field operator with a 40% interest, with the other shareholders being StatoilHydro, with 23,33%; Esso Exploration Angola, with 20%; and BP Exploration, with 16,67%.

The project is undertaken under the concession of Angola’s national oil company, Sociedade Nacional de Combustiveis de Angola (Sonangol).

Key Contracts and Suppliers
Daewoo Shipbuilding & Marine Engineering (DSME) (engineering, procurement and construction contract to construct the FPSO moorings, hull and topsides); KBR, subcontracted by DSME (engineering, procurement and interface design services for the FPSO unit); Technip and an Acergy-led consortium (pipelay, subsea construction and associated products); SBM Offshore and Advanced Production & Loading (APL) consortium (engineering, procurement, supply, construction and installation of the oil loading system); FMC Technologies (subsea processing and production systems); Sonadiets, a Sonangol-Dietsmann joint venture (maintenance engineering and long-term general maintenance contract); and Balltec, subcontracted by DSME (supply and installation of 16 permanent subsea mooring connectors).

Latest Developments
On January 18, 2011, the Pazflor FPSO vessel sailed out of DSME’s Okpo shipyard, in South Korea, to Angola’s block 17, where it is destined to moor for a period of over 20 years.

On Budget and on Time?
The project is in progress and on schedule to deliver first oil in the fourth quarter of 2011.

Contact Details for Project Information
Acergy, Karen Menzel, tel +44 20 8210 5568 or email karen.menzel@acergy-group.com.
APL CEO Carl Arnet, tel +47 23 13 0000 or fax +47 23 13 0005.
Balltec, tel +44 15 2473 3388, fax +44 15 2473 3399 or email sales@balltec.com.
BP Exploration Angola, tel +244 222 63 7300.
DSME, tel +82 2 2129 0114.
Esso Exploration Angola, tel +244 222 33 3058 or fax +244 222 39 1583.
FMC Technologies investor relations director Rob Cherry, tel +1 281 591 4560 or email InvestorRelations@fmcti.com.
KBR communications director Heather Browne, tel +1 713 753 3775 or email heather.browne@kbr.com; or investor relations director Rob Kukla, tel +1 713 753 5082 or email investors@kbr.com.
SBM Offshore investor relations, Sebastiaan de Ronde Bresser, tel +377 9 205 8515 or fax +377 9 205 8940.
Sonadiets, tel +244 914 492 529.
Sonangol media and press, tel +244 226 64 3343/3342 or email CGI@sonangol.co.ao.
Statoil Angola, tel +244 222 64 0900 or fax +244 222 64 0999.
Technip Angola, tel +244 2 371 635 or fax +244 2 371 757.
Total E&P Angola, tel +244 222 67 2000 or fax +244 222 67 2261.