Additional Capability; Top hole + main well completion, Step 2.Top hole main well completion, Step 2.

Typical average well construction sequence; 52 days drilling and 10 days completion work.

Top Hole Drilling 12 days(Drill for and run 36 and 20)

19% of the Well Construction Time

Main Drilling Phase 40 days(Run BOP, drill for and run 13-3/8, 9-5/8

and 7 casings. Do initial completion)

65% f th W ll C t ti ti

Main Completion Phase 10 days

16% of the Well Construction Time65% of the Well Construction time

SAVING ON DAY RATE 3 mUSD

SAVING ON DAY RATE 2,5 mUSD

SAVING PER WELL Direct day rate savings on drilled well; 20% (5.5 mUSD)

10

Cost reduction, increased rig utilization and increased

Rig can be utilized for 22 days on other well; USD10 mill in increased efficiency

Cost reduction, increased rig utilization and increased numbers of wells drilled per year.

Rig Dayrate 450.000,. USD Norshore Atlantic Day Rate 200.000,- USD

Well Intervention Vessel

Light Well Intervention Intervention with Riser

Module Installation

Wireline / Tractor Riserless Well Interventionith LRP/L bricator

Riser Intervention with LRP/EDP - Stiff or Compensated Riser.

with LRP/Lubricator.

Rotatable RiserTension Ring

Lubric. Valve Sec.

6 5/8 DP Riser or Riser ID 7,25

11

LRP/EDP

Subsea Construction Vessel

Alternative to large Crane Vessels

Sub Sea Module Installation 150 mT compensated Offshore SS Crane.

Wet Tow Items moved Offshore, hanging below the vessel in safe distance above the Seabed.

500 sTon Compensated during Transit and Installation.

Large size Sub Sea EquipmentLarge size Sub Sea Equipment Installation

Templates / Manifolds / Etc..

ROV t ROV support - survey

12

Contact:Trond Haugland VP Operationth@norshore noth@norshore.noMobile: +47 99454561www.norshore.no

Thank You !

13

Vessel specification

Main particulars

L h ll 11 40

Class notation

Length overall : 115,40 m Breadth molded 22,00 m Depth main deck 9,00 m Deadweight approx 6,500 t

DNV *1A1 Ship-shaped Drilling Unit Drill(N)-FS E0 DYNPOS AUTRO-DK Heldk SH-LFL* HL(2,8) COMF-V(3) - Clean design

Capacities

Moon Pool 7,20 x 7,20 m Speed (dm-4,5m, open moonpool) 14,5 kts 116 Beds

EquipmentCapacities

Fresh Water 1,000 m3

Fuel oil 1,400 m3

Equipment

Main engines : MAK (6pcs) 14,600 kW Thrusters : RollsRoyce 2x3,000kW and 4 x 1,500 kW

Liquid Mud 1,250 m3

Dry Bulk (Cement/barite) 280 m3

Hydrocarbon Slop tank 85 m3

Methanol 7 m3

Drilling Module Handling tower : NOV (500 sT A&P HC) Top Drive (Continuos Drilling Torque 55200 ft-lb) Drilling Equipment; NOV (including 3x1600 mud pumps) Remote Operated Pipe Handling, NOV.

Work deck 1,200 m2 Special designed for handling of large size conductors casing.

Mud Mixing Package; NOV Offshore Crane : NOV (140t AHC, 2500 m wire) ROV : TBN (150 hp / 3000m) Optional LARS : TBN (4,000m AHC), Optional 6 x 100 mT Skid Stations 14

Top SideTop Side

15..\Animation\Noreshore_MPD.wmv

Top SideTop Side

16

GA Norshore AtlanticGA Norshore Atlantic

17

GA Norshore Atlantic

18

GA Norshore Atlantic

19

Operability Analysis at North Sea

Marine Cybernetics - Simulator Simulations

2 Sigma Values

High accurancy

5 mHs maximum Operation Condition5 mHs maximum Operation Condition

North Sea Less than 10 % WOW.

Brazil Less than 1 % WOW.

20

Tophole Drilling - A more efficient way of drilling

North Sea Scenario Norshore Concept

Tophole Drilling A more efficient way of drilling

+

Semi submersible drills entire well; tophole Norshore drill top holes & last part of P & ASemi-submersible drills entire well; tophole drilling, drilling with riser/BOP, well completion.

75 Days 10 + 65 Days

Norshore drill top holes & last part of P & A.Drilling rig/ship to perform remaining drill work.

75 Days 10 + 65 Days

An oil company with three drilling rigs can drill ~14 wells in one yearWith one Norshore unit and three drilling rigs he can drill ~17 wells in one yearWith one Norshore unit and three drilling rigs he can drill 17 wells in one year

Well cost reduction of 5 -15 %.Annual increased rig utilization of 10 - 20 %World wide marketWorld wide market

21

Riser to Catwalk

Riser to Elevator

Skidding XMTRT into Moonpool. g p

Lower Cursor frame attached to XMTRT

Skidding XMT into Moonpool g p

Open Moonpool Door p p

Run in with XMT

Coil Tubing Operation

Alternative to SS Rig / Drillship

Stiff or Compensated Riser

High V-Door OpeningHigh V Door Opening

Passive Compensation System Return of HC to the Unit.

29

Slender - Slim Well Drilling, Optionalg, p

Potential Savings; 35%

Well Cost Component

Slender Well % Savings

Casing 28 %

Cement & Casing

30 %g

Drilling Fluids 44 %

Rental Tools 20 %

Logistic 30 %

Rig Rental 50 %

30