2002 Annual Report - SBM Offshore

TotalFinaElf, first dry-tree SeaStar ® , with nine well slots,
and first lumpsum turnkey EPIC contract for a
deepwater project.
The US$ 175 million Matterhorn contract represents a
major commercial milestone for the company. The
Matterhorn SeaStar ® is a prototype for future platforms
that can be integrated into deepwater complexes built
around FPSO’s and FSO’s, or that will be used as central
drilling and production hubs worldwide. The facility will
process 35000 bopd and 55 mmscfd gas. Total topsides
payload capacity is approximately 12000 tons.
The Matterhorn hull fabrication was completed by
KeppelFels (Singapore) at the end of December 2002,
one month ahead of schedule and under budget. The
success of this construction effort will be used as a
benchmark on which to base future hull projects that the
company intends to build. The hull was transported to
the Gulf of Mexico for final outfitting before its
scheduled installation in May 2003.
The Matterhorn deck has been constructed at Gulf
Marine’s yard in south Texas, USA. The company designs
its topsides so that virtually all hook-up and
commissioning are done onshore at the fabrication yard,
thereby eliminating costly and time-consuming offshore
commissioning.
The Matterhorn SeaStar is also serving as a standard
design for the company’s generic dry-tree unit platform
design effort that will be placed offshore West Africa,
Brazil, and in the Gulf of Mexico. Atlantia successfully
used the standard generic design model in development
of its shallow water business.
The company’s other SeaStar ® platforms performed well
in service during 2002. The Agip Morpeth, Agip
Allegheny and ChevronTexaco Typhoon platforms were
all impacted by major hurricane storms in the Gulf of
Mexico. Allegheny and Typhoon received direct hits by
Hurricane Lili, a 100-year occurrence interval storm. All
were undamaged.
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Technological highlights
Atlantia is developing new fundamental technologies
that will have a material beneficial impact on sales over
the long term. The generic design effort will favourably
impact the company’s marketing progress offshore West
Africa and Brazil. When completed, these designs will be
used in multiple locations and situations around the
world.
A new methodology has been developed that will enable
complete SeaStar ® platform installation without the use
of a large derrick barge. This will be especially applicable
in remote areas where large installation equipment is not
available.
Finally, the company has developed a new proprietary
device that will double the water operating depth of
TLP’s from the current industry-conceived 1650 metres
limit to ultra-deep water, i.e. at least 3350 metres. In all,
the company was awarded eight patents in 2002 and has
25 additional patent applications in process for new
proprietary technology.