INSURING PROJECT CARGOINSURING PROJECT CARGOWhat is it about?What is it about?

•Infrastructure Projects Worldwide•Oversized Cargoes•High Insured Values•Complex Logistics Requirements•Projects Often Exceed 2 Years To Complete•Time Element Coverage Often Required•Required For Project Financing

PROJECT CARGO INSURESPROJECT CARGO INSURES

• Offshore Energy Projects• Petrochemical Projects• Power Generation Facilities• Liquefied Natural Gas Plants• Refineries• Mining Operations• Bridge Construction

Offshore Drilling PlatformOffshore Drilling Platform

220 Ton Module220 Ton Module

DELIVERY VOYAGEDELIVERY VOYAGE

BOEING Sea-Based X-Band BOEING Sea-Based X-Band RadarRadar

SBX RADOME INSTALLATIONSBX RADOME INSTALLATION

DELIVERY VOYAGE:DELIVERY VOYAGE:Corpus Christi, TX to Adak, AK Corpus Christi, TX to Adak, AK

via Strait of Magellanvia Strait of Magellan

PEMEX PEMEX Accommodation ModuleAccommodation Module

Power Generation ModulesPower Generation Modules

Offshore Platform LegOffshore Platform Leg

Critical ComponentsCritical Components

MINING EQUIPMENTMINING EQUIPMENT

MODULES TO BAKUMODULES TO BAKU

Components of an Offshore Components of an Offshore WindmillWindmill

Heat Exchangers to West AfricaHeat Exchangers to West Africa

TransshippingTransshipping Cable Reels Cable Reels

Mining Equipment to NorwayMining Equipment to Norway

FPSO Turret to SingaporeFPSO Turret to Singapore

Bridge Construction ProjectBridge Construction Project

Oil/GasOil/Gas Engineering Industry: Engineering Industry: Improved Earnings, Rising Stock PricesImproved Earnings, Rising Stock Prices

20 largest oil producers

Countryand 2004 rank

Estimated Reserves(billion barrels, 2006)

Source

2004 ProductionIncludes Crude Oil, NGL, Condensate, Refinery Gain

1. Saudi Arabia 267 billion bbl 10.4 mb/d

2. Russia 60 9.3 mb/d

3. USA 218.7 mb/dCrude oil < 5.2 mb/d

4. Iran 132 4.1 mb/d

5. Mexico 13 3.8 mb/d

6. China 18 3.6 mb/d

7. Norway 8 3.2 mb/d

8. Canada179(includes tar sands)

3.1 mb/d

9. Venezuela 79 2.9 mb/d

10. United Arab Emirates 98 2.8 mb/d

20 largest oil producers (cont.)

Countryand 2004 rank

Estimated Reserves(billion barrels, 2006)

Source

2004 ProductionIncludes Crude Oil, NGL, Condensate, Refinery Gain

11. Kuwait104(some sources say 48 billion - the difference is 5% of world reserves)

2.5 mb/d

12. Nigeria 36 2.5 mb/d

13. United Kingdom 4 2.1 mb/d

14. Iraq 115 2.0 mb/d

15. Other FSUMostly Kazakhstan + Azerbaijan

47 1.9 mb/d

16. Algeria 12 1.7 mb/d

17. Brazil 11 1.5 mb/d

18. Libya 39 1.5 mb/d

19. Indonesia 4 1.1 mb/d

20. Angola 6 0.9 mb/d

12 top natural gas countries(by reserves, 2005)

Country Reserve estimate

World 6,300 trillion cubic feet

1. Russia 1,680 trillion cubic feet (some say 2,300 tcf)

2. Iran 940 trillion cubic feet

3. Qatar 910 trillion cubic feet

4. USA 265 trillion cubic feet

5. Saudi Arabia 235 trillion cubic feet

6. United Arab Emirates 212 trillion cubic feet

7. Nigeria 176 trillion cubic feet

8. Algeria 161 trillion cubic feet

12 top natural gas countries(by reserves, 2005)

Country Reserve estimate

9. Venezuela 151 trillion cubic feet

10. Iraq 110 trillion cubic feet

11. Kazakhstan 106 trillion cubic feet

12. Turkmenistan 102 (maybe 535) trillion cubic feet

13. Indonesia 90 trillion cubic feet

14. Malaysia 87 trillion cubic feet

15. Norway 84 trillion cubic feet

16. China 79 trillion cubic feet

CASPIAN OIL & GASCASPIAN OIL & GAS

KASHAGAN OIL FIELDKASHAGAN OIL FIELD

Kashagan Oil FieldKashagan Oil Field

KASHAGAN “ISLAND”KASHAGAN “ISLAND”

BRAZIL OIL & GAS FIELDS

BRAZIL OIL & GAS FIELDS

BRAZIL OIL & GAS FIELDS

US GULF OF MEXICO OIL & GAS FIELDS

Semi SubmersibleSemi Submersible

FLOATING PRODUCTION UNIT FLOATING PRODUCTION UNIT (FPU)(FPU)

Floating Production Storage Floating Production Storage Offshore (FPSO)Offshore (FPSO)

Floating Production Storage Floating Production Storage Offshore (FPSO)Offshore (FPSO)

Offshore Oil Production FacilityOffshore Oil Production Facility

Jack Up Drilling RigJack Up Drilling Rig

WHAT GOES INTO A JACK-UP UNIT?WHAT GOES INTO A JACK-UP UNIT?