• FPSO Vessel with a minimum 500,000 bbls storage, 10 years service life without drydocking, fatigue life under average weather condition at site location of a minimum of 15 years, a helideck for S61-N and S-92 helicopters, and accommodation for 60 persons;
• Single Point Mooring System is a a turret system with submerged chain table and 3 X 3 mooring chain configuration and a multi-path swivel to withstand 100-year storm conditions;
• Flexible Pipe Risers with 2 X 12 ft. risers for production lines and 2 X 6 ft. risers of gas injection / gas lift;
• Process Facilities capacity 30,000 bpd crude oil processing;
• Installed Gas Compression capacity of 40 MMSCFD;
• Crude Metering and Prover designed for 3 X 50% runs and the flow rate to be measured by a turbine meter;
• Tandem Offloading System capable of offloading 22,000 barrels per hour. Capable of offloading tankers up to 150,000 DWT.

• Engineering and Project Management Consultant;
• The Conceptual Engineering Design including Front End Engineering Design (FEED) and Design Basis;
• Contract Administrator for bid packages for the FPSO systems;
• Responsible for Classification (ABS) and Registration of FPSO and relevant flag authorities;
• FPSO Systems Detail Design review and approval of and subsequent coordination and integration of the design;
• Management Consultant and Supervision for the Repair and Conversion (inclusive of coordination of delivery of systems to yard);
• Management Consultant for the Pre-Commissioning inclusive of review and approval;
• Management Consultant and supervision of FPSO Offshore Installation and Hookup inclusive of review and approval;
• Management Consultant for Commissioning and the coordination and integration involved;
• Management Consultant for Start-up until successful performance acceptance of the FPSO systems according to Petronas requirements.

Collecting the money - The contractual consideration for the work performed is our remuneration. The money is invoiced and received. The cycle is complete and we can sustain our business.

Having this view of the business, then what type of information is required to keep these functions well oiled and chugging along in a profitable manner? In answer to this question we are beginning to develop a set of Key Performance Indicators (KPIs) which are rather simple measures of complex processes. However, they can serve a very useful purpose if the user understands what's behind the numbers. For example, most of you are familiar with the Cost Performance Index (CPI) and the Schedule Performance Index (SPI) currently being integrated into our project reporting system. They do not tell us what the problem is or any possible solution, but they do send up the signal flare to have a look. These particular KPIs fall under the "Doing the Work" functions, but we have several others like Backlog Development, Revenue Forecast and Accounts Receivable Aging which reside under the other functions. All of the KPIs plus a few new ones to be introduced form a picture from which we can make inferences about the health of our business. They are simple and I like that, but it's like an iceberg, the really important stuff is hidden from view. It requires digging below the surface, understanding the underlying processes, asking questions and a little intuition to interpret the information correctly. It is everyone's responsibility to perform this analysis and make the best decisions we possibly can. We all have a realm in which we make the calls and we obviously need information to do it properly. The KPIs can form part of that information in a simplified form. They are warning lights and present a black and white view of data. We must provide the serious thought and effort to make them effective.

Even Einstein could not resist the urge to simplify. He derived a formula for success in life: If Ais to succeed in Life, then A = x + y + z, where x is work, y is play and z is to listen. It's so simple!

Johnny Reed
CEO

In March 2004, INTEC engineers (Jim Osborn - Vince Vetter - Ron Tucker) had the pleasure of being on the learning curve with engineers from Sonangol and Universidad Agostinho Neto. At Sonangol, INTEC presented a two-day training course on Deepwater Pipelines and Subsea Production Systems. An in-depth overview of key design issues and requirements for deepwater field systems were discussed. At the Universidad Agostinho Neto a condensed 90-minute version on each topic was presented to the students.

Ron Tucker, Manager of Operations , Delft office, presented the Deepwater Pipeline Module of the training course. The training course included sessions on the history of codes selection, influences of the manufacturing process and their impact on the pipeline's wall thickness, stability and in-place stress analysis, deepwater pipeline route selection with a focus on its interaction with geohazard conditions and bottom roughness assessment, deepwater pipelay capabilities and deepwater riser solutions.

Vince Vetter, Business Manager for Offshore Field Development, Houston office, presented the Deepwater Subsea Production Systems Module. Vince looked at both the systems engineering and component building blocks of subsea engineering used in deepwater field development. System discussions ranged from the surface facilities, subsea architecture and the economic and operational drivers behind the development scenarios. While on the building block level, all the major systems of subsea trees, control systems, chemical injection, end termination structures and tie-ins were brought together.

Thank you, to our gracious hosts at Sonangol and at the Universidad Agostinho Neto.

Pioneer Natural Resources intends to develop 5 wells associated with the "Falcon Corridor," located in East Breaks 579 and 623 in the Gulf of Mexico. The Falcon Corridor wells include:

• Falcon (EB579#2 and EB623#2)
• Harrier (EB 759#1)
• Raptor (EB668#1) - to be drilled
• Tomahawk (EB623#3) - to be drilled

The duality of Argentine lore is present in other aspects of local culture: literature and tango being just two examples of the interaction and complexity of the art expressions in the country.

Each and every account of famous Argentine authors cannot start without Jorge Luis Borges. Of heroic proportions to some, but for certain to all literature lovers, Borges perfectly embodies the mixture of European ancestry and gaucho tradition, with an eclectic profile and unmatched literary production. Indeed, after spending part of his childhood in Europe, he lived both in the city downtown area, of French architecture and tree-lined boulevards, and in the Palermo neighborhood, at the time crossed by the Maldonado stream, the physical boundary to the outer areas, the start of suburban Buenos Aires, the door to an easier-going way of life.

Borges created masterpieces on the cultural tradition of the city slums and tango joints, with characters that loved to dance and killed for love. His porteńo roots are present in most of his poetry and first fiction works, before he moved on to more universal themes and to create a magnificent literary world of fantasy, which earned him worldwide praise and recognition.

Borges admired and promoted works by classical Argentine writers, such as José Hernández and Esteban Echeverría, who defined the gaucho spirit that transcended Argentine frontiers. Later in the 19th century, other widely respected writers worth mentioning are Leopoldo Lugones, Evaristo Carriego, and Macedonio Fernández. Their writings at the turn of the century coincided with the establishment of Argentine political institutions and helped to shape the new country and its cultural tradition, through a romanticized version of gaucho life in novels and poems, in the so-called literatura gauchesca. That legacy has a projection to this day; these authors' work fused the flat pampa and the sprawling city. Likewise, critics consider that the embodiment of Buenos Aires literature is the work of Roberto Arlt, whose pages depict despair, originality and melancholy, three basic components of the city’s personality.

Other noteworthy contemporary writers are Julio Cortázar, Manuel Mujica Láinez, Adolfo Bioy Casares, Osvaldo Soriano, Victoria and Silvina Ocampo, and Ernesto Sábato, doyen of Argentine authors and highly respected for his unwavering thoughts and social commitment, whom young people look up to for his stance and defense of civil rights through the turmoil of Argentine politics over the last 50 years.

Even if these lists clearly leave countless names out, a minor justification and also a consolation due to the richness of Argentine literature, should be the acknowledgement that any such selection is arbitrary and subjective by definition, and therefore unfair to those unmentioned; thus making a comprehensive list a very difficult task.

But one should wonder- where would writers be without readers? And this is a question happily answered by portenos, as they are avid readers. The three-week long Buenos Aires Book Fair held every year is the largest and most attended event of the cultural calendar in the city. Readings, book signings, performances, debates, stands, round-tables, shows, and plain-old book browsing are all part of the literary party. The exhibition hall is packed with exhibition stands of the hundred-odd local publishing houses as well as with many regional and international editors. A separate Book Fair for children ensures that this tradition and love affair between porteńos and books will keep on growing for years to come. It is also very common to spot commuters reading and studying in the city metro, buses, public parks, etc. As it happens, this is a city that boasts the largest day's printing for a Spanish language newspaper in the world. There are also round-the-clock bookshops to be found; it is common to see booktrading stalls in public parks every weekend; and if you happen to be short of cash there are even places that will rent you a book!

Tourists are very welcome in the city. For those book worms coming from afar, there are organized 'literary walks' which trace the steps of famous writers or their characters, who have a life of their own, and their hangouts. Also, among the regular features of the city cafes, bookshops, libraries are places an avid reader will remember once they return home. So, if you enjoy this passion for reading fine literature, than Buenos Aires is the place to be...