Terra Nova Development

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1 Canada-Newfundland and Labradr Industrial Benefits Public Quarterly Reprt January 01, 2015 March 31, 2015

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 first 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 $121 millin, 74% f which was spent in Newfundland and Labradr (NL) and the ther prvinces and territries f Canada. 59% was spent in NL 15% was spent in the ther prvinces and territries f Canada A ttal f 1,409 purchase rders valued at $15.2 millin were issued, 1,283 f which were awarded t vendrs with a NL lcatin r anther Canadian lcatin. Apprximately $12.1 millin (80%) was spent in Canada including NL. $9.4 millin in purchase rders awarded t NL lcatins (62%), and $2.7 millin in purchase rders awarded t ther Canadian lcatins (18%). A ttal f 977 peple were wrking n the Terra Nva prject at the end f March 31, 2015, f which 98% (964) were residents f Canada including NL. 896 r apprximately 92% were residents f Newfundland and Labradr 68 r apprximately 7% were residents f ther Canadian prvinces r territries 4

5 Sectin 3.0 Emplyment As f March 31, 2015, a ttal f 977 peple were wrking n the Terra Nva develpment. Of the 977 ttal, 896 r apprximately 92% were residents f NL, while anther 68 r apprximately 7% were residents f ther regins f Canada at the time f hiring (Table 3.1). Of the Newfundland and Labradr residents, 490 emplyees wrked nshre, and 406 wrked ffshre. Of the residents frm ther Canadian prvinces and territries, 33 wrked nshre, 32 wrked ffshre and 3 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) (%) % 7% 1% 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: 977 Of the 977 emplyees supprting the Terra Nva develpment, 818 were male and 159 were female r apprximately 16% 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 97% and 99% male respectively, while the discipline that is the mst female-dminated is administratin at 81% female. Table 3.3 Emplyment Summary by Discipline Terra Nva Prject Number f Persns Discipline Male % Female % Ttal Number f Persns Management 84 80% 21 20% 105 Administratin 13 19% 56 81% 69 Engineers 62 83% 13 17% 75 Technicians 88 83% 18 17% 106 Prfessinals 69 75% 23 25% 92 Skilled Trades % 1 1% 186 Labur 55 83% 11 17% 66 Students 17 66% 9 34% 26 Other % 7 3% 252 Ttals: 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: marine crew and 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: 59% 15% 26% Year t Date (YTD): 59% 15% 26% Prject Cumulative(since prductin started in 2002): 56% 16% 28% The expenditure cntent percentages fr the first quarter ending March 31, 2015 were 59%, 15% and 26% fr Newfundland and Labradr, ther Canadian, and nn-canadian spending, respectively. 7

Sectin 5.0 Cntracting and Prcurement A ttal f tw (2) new cntracts having an aggregate value f apprximately $500,000 were executed during the perid January 01, 2015 t March 31, 2015. Table 5.

Memrial University f Newfundland Cntractr Lcatin (NL, Other Canadian, Nn-Canadian) Nn-Canadian NL A ttal f 1,409 purchase rders with a cumulative value f apprximately $15.

8 Sectin 5.0 Cntracting and Prcurement A ttal f tw (2) new cntracts having an aggregate value f apprximately $500,000 were executed during the perid January 01, 2015 t March 31, Table 5.1 New Cntracting Activity Terra Nva Prject Descriptin Prvisin f Technical Cnsulting r Capping Stack Services Grant Agreement - Ice Ocean Sentinal System (IOSS) Cntractr Trendsetter Engineering Inc. Memrial University f Newfundland Cntractr Lcatin (NL, Other Canadian, Nn-Canadian) Nn-Canadian NL A ttal f 1,409 purchase rders with a cumulative value f apprximately $15.2 millin were awarded during the first quarter f Apprximately $12.1 millin, (80%) 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, 2015 Ttal Value f Purchase Orders: $15.2 millin 20% 18% 62% 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 fr the life f the Terra Nva develpment t create a lasting legacy frm the prvince s first FPSO develpment. 9

Terra Nova Development

Terra Nova Development Canada-Newfundland and Labradr Industrial Benefits Public Quarterly Reprt January 01, 2014 March 31, 2014 Table f Cntents Sectin 1.0 Intrductin... 3 Sectin 2.0 Prject Activity and Benefits Accmplishments...