FLOATING STORAGE AND REGASIFICATION TERMINAL FOR WEST JAVA Project Updates

Ari Adji
LNG Terminal Summit Singapore, 31 May 1 June 2011

Agenda

1. Background 2. Gas Demand And Supply For West Java 3. LNG Supply And Sources 4. Business Chains 5. Overview Of FSRT Location 6. Key Elements Of FSRU Conversion 7. Project Execution Status 8. Refurbished Vessel 9. Overall Schedule Of West Java FSRT Project

1. This project was intended to cover the lack of existing gas supply from ONWJ-PHE ( Offshore North West Java PT Pertamina Hulu Energy) and to reduce the subsidiary of fuel consumption for Indonesian State Electricity Corporation (PLN) Muara Karang and Tanjung Priok. 2. An MOU among PT Pertamina (Persero), PT PGN (Persero) Tbk and PT PLN (Persero) have been signed on April 25, 2008 in order to utilize and manage LNG for domestic usage. 3. Further discussions have been made and all parties agreed to develop a Floating Storage & Re-gasification Terminal (FSRT) on December 23, 2008 4. A principle agreement for development of the LNG Receiving Terminal company has been signed in the front of BUMNs Ministry on April 17, 2009

5. PT Nusantara Regas as a consortium company of PT Pertamina (Persero) and PT PGN (Persero) Tbk has been announced in April 2010.

ESTIMATES

West Java Demand - Supply

SSWJ Cilegon ONWJ

Cirebon

Jakarta
(Haurgeulis, Pamanukan, Jatibarang)
West Java 2012 2015 Demand1 Local production SSWJ imports2 Shortfall Shortfall after FSRU 1800 600 700-900 300-500 0-50 2050 600 700-980 470-750 20-300 Mmscfd 2020 2350 400 Existing pipeline 500-600 1350-1450 400-500 Gas production Planned location for LNG re-gasification terminal

LNG Supply And Source

PLNs demand is 400 MMscfd (3 MTPA)
3.0
Chevron Deep Water Mahakam PSC Tangguh Permintaan Sempra Diversion

2.5

2.0

Million tons

1.5

Assume ; 20% x 4.5 million tons ( As a DMO portion)

1.0

0.5

0.0 2012

2013

MoA antara Mahakam PSC dan Konsorsium sudah 2014 2015 2016 2017 2018 2019 ditandatangani
2013 1.25 2014 1.25 2015 1.25 2016 1.00 2017 1.00 5 2018 1.00 2019 1.00

2020

2021

2022

Contract Year
In ACQ in MT MTPA

2012 1.50

2020 1.00

2021 0.75

2022 0.75

Business Chains

Production

Shipping

Storage + Re-gasification

Off-takers

Production: Badak LNG Plant, Bontang Sellers: PERTAMINA, Total Indonesie and Inpex Buyer: Nusantara Regas (NR) Shipping: NR Storage + Re-gasification + Gas Sales : NR Off-taker: PLN + others
6

Overview Of FSRT Location

Jakarta Bay Capacity: 3 MTPA On-stream Target : January 2012 LNG Source: 1.5 MTPA from Bontang 1.5 MTPA from others

Detail Location Of FSRT At Jakarta Bay

15 km Subsea Pipeline

5o 58 28.920 S 106o 47 57.96 E At 22 23 m Water Depth

Jakarta
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Key Elements Of FSRU Conversion

The scope of the FSRU conversion for West Java will be similar to the Golar Freeze FSRU Project in Dubai. Key conversion elements include:
Vent Mast Loading Arms Intank pumps Nitrogen Gens Air System Upgrade Low Voltage Switchboard HV/LV Transformer

Vent K.O. Drum

Suction Drum

Regasification Trains Diesel Driven Firepump Mooring Hooks

Automation

Export Manifold Minimum Send Out Compressor Metering High Integrity Protective Pressure System (HIPPS) Seawater Discharge Chain Stoppers

Turbo Generators

Seawater Pumps

High Voltage Switchboard Source: Golar LNG Energy

Khannur (West Java) 3.8 MTA

Artists Drawing of Khannur plus topside conversion elements

Source: Golar LNG/ Energy / Picture copyright Petrobras

Khannur (West Java) 3.8 MTA

Khannur FSRU

Artists Drawing of Khannur plus conversion compenents

1977 Built / 125,000 m3 Moss Containment 5.0 bcm / year Side by side LNG transfer Gas topside Risers Open Loop
Source: Golar LNG/ Energy / Picture copyright Petrobras

Side To Side LNG Transfer

Mooring Dolphin

Project Execution Status

FSRU Development Refurbishing works being carried out in Jurong shipyard - Singapore Sail away schedule to Jakarta is December 25, 2011 Commissioning / Start Up : January 16, 2012

Pipeline and ORF (Onshore Receiving Facilities) EPC scope of work being carried out 12 months project duration starting from January 10, 2011 Mechanical Completion : December 23, 2011 Commissioning : January 10, 2012
Operational Target Commissioning / Start Up : January 2012 Full Operational : February 2012

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Conversion Vessel - Khannur

Source: Golar LNG/ Energy / Picture copyright Petrobras

Refurbished Vessel Hull Section

Source: Golar LNG/ Energy / Picture copyright Petrobras

Refurbished Vessel Hull Section

Source: Golar LNG/ Energy / Picture copyright Petrobras

Refurbished Vessel Side Deck Starboard Section

Source: Golar LNG/ Energy / Picture copyright Petrobras

Refurbished Vessel LNG Tank Top Side

Source: Golar LNG/ Energy / Picture copyright Petrobras

Refurbished Vessel LNG Tank Vent Valve Side

Source: Golar LNG/ Energy / Picture copyright Petrobras

Refurbished Vessel LNG Tank Section

Source: Golar LNG/ Energy / Picture copyright Petrobras

Refurbished Vessel Accommodation Section

Source: Golar LNG/ Energy / Picture copyright Petrobras

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COMPANY PROFILE
Establishment PT Nusantara Regas (NR) has been established on May 17, 2010

Share Holders

60 %

40 %
Core Business To handle the LNG procurement, manage the FSRT facilities and operational, and sell the re-gasified LNG to Indonesian State Electricity Corporation (PLN) or other off taker(s)

FSRU CONVERSION
Engineering This Period WBS DESCRIPTION
ENGINEERING PROCUREMENT TOPSIDE - REGAS UNIT MOORING & OFFLOADING PLATFORM YARD CONVERSION & REPAIR FSRU MOBILIZATION & HOOK UP TOTAL --->

To Date Plan
87.64 49.62 46.33 26.85 12.85 0.00 35.22

Plan
14.26 13.61 10.35 13.11 8.86 0.00 10.93

Actual
12.91 18.68 10.59 13.60 1.53 0.00 9.80

Actual
72.35 43.36 45.60 27.11 1.53 0.00 29.37

Variance (%)
-15.29 -6.26 -0.73 0.26 -11.32 0.00 -5.85

Physical Progress

1 2 3 4 5 6

Yard Conversion

Mooring & Offloading Platform

Topside Regas

Procurement

S-Curve

ORF & SUBSEA PIPELINE

Engineering

S-Curve

WBS

DESCRIPTION

Weight Factor
4.29% 70.27% 6.18% 14.89% 2.43% 1.95% TOTAL ---> 100.00%

Achieved Progress (%)

Previous Month
44.11 9.31 6.11 0.00 0.00 8.98 8.98

This Month
0.44 0.52 0.96 0.00 0.00 0.45 0.45

Physical Progress

Up to this Month
44.55 9.82 7.07 0.00 0.00 9.43 9.43

Plan up to this Month (%)

68.08 18.07 11.58 0.00 0.00 16.66 16.66

Variance (%)
-23.53 -8.25 -4.51 0.00 0.00 -7.23 -7.23

2 3 4 5 6

PROCUREMENT CONSTRUCTION INSTALLATION COMMISSIONING OTHERS

Construction

ENGINEERING

Procurement