SCALE AND DEPTH OF EXPERIENCEResults-focused, global team with ~40 years delivering results and being responsive to customers’ marine energy needs.

World Leader in Shipping Project

Management

Delivering innovative technological and commercial solutions safely and efficiently – on time and on budget.

END-TO-END SOLUTIONS

Offering a turn-key solution for customers, we can manage all aspects of the project. We use a disciplined balance of technical competence and insight to steadily lead projects toward integrated scope, cost, time and quality objectives.

OPERATIONAL LEADERSHIP

Committed to the highest levels of safety and quality, we operate with an integrated risk-based approach to management of health, safety, environment and quality.

We meet or exceed all regulatory requirements, and strive for zero harm to people, property and environment.

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THE TEEKAY ADVANTAGE =

ABOUT TEEKAY

We are an essential marine link bringing energy to the world. In the last 15 years, we have grown ten-fold in assets, created four publicly traded companies, established numerous joint ventures and built an enviable reputation and brand for operational excellence.

We are the world’s largest owner and operator of shuttle tankers, and the largest operator of floating production, storage and offloading (FPSO) vessels in the North Sea. We also own the world’s largest independently owned liquefied natural gas (LNG) fleets, and operate one of the world’s largest conventional tanker fleets.

NYSE:TK NYSE:TOO NYSE:TGP NYSE:TNK www.teekay.com

SCALE AND DEPTH OF EXPERIENCE BUILDING, MAINTAINING & OPTIMIZING A WORLD CLASS ASSET BASE

Technically Experienced Team

Naval Architecture

Marine Engineering

Electrical & Instrumentation

Marine Operations

Health, Safety & Environment

Project Management

Newbuild Management

25+ years of experience with diverse vessel types: crude oil, shuttle & product tankers, LNG ships, FSO’s & other specialty vessels

94 newbuildings delivered into the Teekay fleet with 59 of these in last 8 years

Over $ 5 .4 billion in value delivered since 2003

Asset Conversions

FSO Vessels

FPSO Vessels

Shuttle Tankers

Equipment Upgrades

Ballast water management systems

Bilge water management systems

Air pollution prevention

END-TO-END SOLUTIONS PROJECT MANAGEMENT SERVICES

Design Specification Review

Technical support for contract review

Specification gap analysis

Contract Review

Meeting all customer requirements

Maker’s list negotiated and agreed

Plan Approval

Ensure plans are consistent with the specification

Involve Class and other regulatory bodies

Ensure all rules & regulations are complied with

Site Supervision

On site from steel cutting onwards

Ensure safety during construction both at yard and of subcontractors

Monitor quality in the yard and at sub-contractors

Ensure vessel is built in accordance with contract specification and applicable rules

Attend shop tests and key events

Monitor ad hoc and scheduled inspections

Supervise commissioning, Sea Trials and delivery

Factory Acceptance Tests (FAT’s)

Risk matrix used to determine the FATs that will be attended

FATs are conducted at the manufacturers’ facilities, prior to shipment to the yard

Follow up and close out of all items prior to commissioning

Supervision of Commissioning & Sea Trials

Verify yard plans for commissioning and sea trials

Liaise with technical authorities & external organisations

Draft trials reports and other relevant documentation

Pre-delivery arrangements

Ensure vessel meets contractual requirements or issue non-acceptance letters

Budgeting & Cost Control

Budget is the project manager’s principal tool for identifying, monitoring and controlling project costs

Scope of budget varies but should cover everything required to build and deliver the vessel

This will include costs for:

° Plan approval

° Site Supervision including FAT attendance

° Pre-delivery costs (crew/lubes/spares/stores)

Amendments require agreement from the customer and project manager including assignment for corresponding cost

OPERATIONAL LEADERSHIP OUR COMMITMENT TO SAFETY & QUALITY Meet or exceed all regulatory

requirements

Strive for zero harm to people and property by holding health and safety as our first priority

Strive for zero oil spills and minimize

the impact of our operations on the environment

Use planning of work and risk management tools

Enhance the competence of our people through training and career

development

Use performance measures to continuously improve