Terra Nova Development

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1 Canada-Newfundland and Labradr Industrial Benefits Public Quarterly Reprt January 01, 2014 March 31, 2014

2 Table f Cntents Sectin 1.0 Intrductin... 3 Sectin 2.0 Prject Activity and Benefits Accmplishments... 4 Sectin 3.0 Emplyment... 5 Sectin 4.0 Canadian-Newfundland and Labradr Cntent... 7 Sectin 5.0 Cntracting and Prcurement... 8 Sectin 6.0 Cnclusin... 9

3 Sectin 1.0 Intrductin The Terra Nva Oil Field is situated n the Grand Banks, abut 350 kilmeters east-sutheast f St. Jhn s, Newfundland, and 35 kilmeters sutheast f the Hibernia Oil Field. The Terra Nva field is cmprised f a cmbinatin f prducing wells, as well as water injectin and gas injectin wells, and delivers prductin frm the Graben, East Flank and Far East blcks. Discvered in 1984, the field was the secnd t be develped ff Newfundland. Prductin frm the field began in 2002, thrugh the use f a Flating, Prductin, Strage and Offlading (FPSO) vessel. This was the first develpment in Nrth America t use FPSO technlgy in a harsh weather envirnment. The FPSO is a ship-shaped vessel which has integrated il strage capability frm which il is ffladed int a shuttle tanker. The strage capacity f the Terra Nva FPSO is 960,000 barrels f il with accmmdatins fr up t 120 persnnel while prducing. The vessel is meters lng, 45.5 meters wide and stands higher than 18 streys. Terra Nva pre-prductin capital expenditures were apprximately $2.8 billin. The FPSO arrived in field n August 21, 2001 and prduced first il in January Suncr Energy, as peratr f Terra Nva, is cmmitted t enhancing pprtunities fr the peple f the prvince thrugh participatin in the Terra Nva Develpment. A lasting ecnmic legacy is being created fr the prvince thrugh Suncr s recruitment and training f lcal talent, its prvisin f full and fair pprtunity t lcal businesses, and by giving first cnsideratin t lcally prduced gds and services within the Prvince, where thse gds and services are deemed cmpetitive. The fllwing represents Suncr s Industrial Benefits Public Reprt fr the quarter ending March 31, This first quarter public reprt prvides a summary f activities related t the prductin phase f the Terra Nva prject carried ut by Suncr and its majr sub-cntractrs. 3

4 Sectin 2.0 Prject Activity and Benefits Accmplishments Suncr achieved a number f milestnes during the first quarter f Sme f these highlights and achievements include: Operatinal and capital expenditures fr the Terra Nva prject ttaled apprximately $108 millin, 69% f which was spent in Newfundland and Labradr (NL) and the ther prvinces and territries f Canada. 54% was spent in NL 15% was spent in the ther prvinces and territries f Canada A ttal f 1,570 purchase rders valued at $20.5 millin were issued, 1,147 f which were awarded t vendrs with a NL lcatin r anther Canadian lcatin. Apprximately $17.3 millin (85%) was spent in Canada including NL. $11.9 millin in purchase rders awarded t NL lcatins (58%), and $5.4 millin in purchase rders awarded t ther Canadian lcatins (27%). A ttal f 1,342 peple were wrking n the Terra Nva prject at the end f March 31, Of that 95% (1284) were residents f Canada including NL. 1,195 r apprximately 89% were residents f Newfundland and Labradr 89 r apprximately 7% were residents f ther Canadian prvinces r territries 4

5 Sectin 3.0 Emplyment As f March 31, 2014, a ttal f 1,342 peple were wrking n the Terra Nva develpment. Of the 1,342 ttal, 1,195 r apprximately 89% were residents f NL, while anther 89 r apprximately 7% were residents f ther regins f Canada at the time f hiring (Table 3.1). Of the Newfundland and Labradr residents, 585 emplyees wrked nshre, and 607 wrked ffshre. Of the residents frm ther Canadian prvinces and territries, 29 wrked nshre, 58 wrked ffshre and 2 wrked utside f NL (Table 3.2). Table 3.1 Ttal Emplyment Summary Terra Nva Prject Direct Emplyment (Ttal Number f Persns) Newfundland and Labradr Residents (%) Other Canadians (OC) (%) Nn-Canadians (NC) (%) 1,342 89% 7% 4% Table 3.2 Emplyment Summary by Lcatin Terra Nva Prject Ttal Number f Persns Lcatin Residency Status Gender Ttal NL OC NC Male Female Onshre Offshre Other Ttal: 1,342 Of the 1,342 emplyees supprting the Terra Nva develpment, 1,136 were male and 206 were female r apprximately 15% f the ttal wrkfrce (Table 3.3). Table 3.3 als breaks dwn the emplyment summary by discipline, which includes management, administratin, engineers, technicians, prfessinals, skilled trades wrkers, labur wrkers, students and thers that d nt fit ne f these categries. The disciplines that are the mst male dminant are the ther categry (largely represented by 5

6 marine crew) and the skilled trades categry- at 98% and 96% male respectively, while the discipline that is the mst female-dminated is administratin at 79% female. Table 3.3 Emplyment Summary by Discipline Terra Nva Prject Number f Persns Discipline Male % Female % Ttal Number f Persns Management % 19 16% 120 Administratin 19 21% 75 79% 94 Engineers 79 81% 18 19% 97 Technicians % 20 11% 189 Prfessinals 77 74% 26 26% 103 Skilled Trades % 12 4% 306 Labur 93 83% 19 17% 112 Students 17 59% 12 41% 29 Other % 5 2% 292 Ttals: 1, ,342 Ntes: 1. Disciplines are based n the fllwing Natinal Occupatinal Classificatin (NOC) Cdes: Management includes: Senir Managers as well as Middle & Other Managers Administratin includes: Administrative & Sr. Clerical Persnnel as well as Clerical Persnnel Engineers includes: nly thse in that NOC Cde Technicians includes: Semi-prfessinals & Technicians Prfessinals includes: nly thse in that NOC Cde Skilled Trades includes: Skilled Crafts & Trades as well as Skilled Trades & Service Labur includes: Semi-Skilled Manual Wrkers, Other Manual Wrkers as well as Intermediate Sales & Service 2. Students includes: any student enrlled at a recgnized educatinal institutin r accredited academic prgram and includes bth graduate and undergraduate students, cadets r any ther student. 3. Other includes: psitins that d nt fit int any f the ther disciplines. 6

7 Sectin 4.0 Canadian-Newfundland and Labradr Cntent The fllwing table is intended t reflect the benefit distributin frm Terra Nva cash expenditures. Table 4.1 summarizes the cntent distributin f perating and capital cash expenditures fr the perid, by Newfundland and Labradr, ther Canadian, and nn-canadian spending. Table 4.1 Canadian-Newfundland and Labradr Cntent Terra Nva Prject - Operating and Capital cash expenditures Reprting Perid Newfundland and Labradr (%) Cntent Other Canadian (%) Nn-Canadian (%) This Quarter: 54% 15% 31% Year t Date (YTD): 54% 15% 31% Prject Cumulative(since prductin started in 2002): 56% 16% 28% The expenditure cntent percentages fr the first quarter ending March 31, 2014 were 54%, 15% and 31% fr Newfundland and Labradr, ther Canadian and nn-canadian spending, respectively. 7

Sectin 5.0 Cntracting and Prcurement A ttal f 5 new cntracts having a value f apprximately $16 millin were awarded during the perid January 1, 2014 t March 31, 2014. Table 5.

Other Canadian Small Mds Fabric Maintenance Crsbie Salamis Ltd. NL Ad-Hc Cmmunicatin Services The Idea Factry NL Ad-Hc Drilling Services BKL Energy Slutins Inc.

8 Sectin 5.0 Cntracting and Prcurement A ttal f 5 new cntracts having a value f apprximately $16 millin were awarded during the perid January 1, 2014 t March 31, Table 5.1 New Cntracting Activity Terra Nva Prject Descriptin Cntractr Lcatin Cntractr (NL, Other Canadian, Nn- Canadian) Survey Psitining and Gephysical Services Fugr Canada Crp. Other Canadian Small Mds Fabric Maintenance Crsbie Salamis Ltd. NL Ad-Hc Cmmunicatin Services The Idea Factry NL Ad-Hc Drilling Services BKL Energy Slutins Inc. NL Dimensinal Survey Services UTEC Survey Canada Other Canadian Medical & Occupatinal Health Services Atlantic Offshre Medical Services NL A ttal f 1,570 purchase rders with a cumulative value f apprximately $20.5 millin were awarded during the first quarter f Apprximately $17.3 millin, (85%) was spent in Canada including NL. Figure 5.1 summarizes the distributin f spend assciated with all purchase rders acrss lcatins. Figure Purchase Orders (Percentage f Participatin n a Value Basis) Quarter 1, 2014 Ttal Value f Purchase Orders: $20.5 millin 15% 27% 58% NL Based Vendrs Other Canadian Vendrs Nn-Canadian Vendrs 8

9 Sectin 6.0 Cnclusin Suncr Energy is cmmitted t enhancing lcal industrial benefits fr the peple and the prvince f Newfundland and Labradr frm the life f the Terra Nva develpment t create a lasting legacy frm the prvinces first FPSO develpment. 9

Terra Nova Development

Terra Nova Development Canada-Newfundland and Labradr Industrial Benefits Public Quarterly Reprt January 01, 2015 March 31, 2015 Table f Cntents Sectin 1.0 Intrductin... 3 Sectin 2.0 Prject Activity and Benefits Accmplishments...