E&P COMPANIES SUCCESS STORIES

1. E&P COMPANIES SUCCESS STORIES

2. Tullow Oil plc History: • 1985: Started by reworking on small gas fields in Senegal left by Oil majors. • 1986:Tullow was working in 8 countries with £1.7 M revenue and £250,000 operating profit by acquiring proven gas fields and exploration acreages. • 1990s:Tullow discovered the Sara gas field in Pakistan in 1994. 8 countries | 79 mmboe reserves | £5.2 million revenue • 2000-2006: £201 million Acquisition of Producing gas fields in UK from BP in 2000. Acquired Energy Africa in 2004 for US$ 570Million. In 2006 ,US$1.1 Billion acquisition of Hardman Resources. 22 countries |506 mmboe reserves | £578.8 million revenue • 2007-2009: Tullow’s largest ever discovery: Jubilee field, offshore Ghana. 23 countries |894 mmboe reserves | £582 million revenue 87% exploration success rate | 58,300 boepd production The Group has production from eight countries and two world-class development projects in Ghana and Uganda where it has discovered new oil provinces

3. Anadarko Petroleum Corporation Company Profile: • Headquarters: - The Woodlands, Texas, US. • Operating Areas: Oil and Gas exploration and production, the gathering, processing, transportation, and marketing of natural gas, as well as third party volumes of gas, oil and natural gas liquids (NGL).Other activities include coal, trona, and mineral mining. • Locations: US, Algeria, China, Alaska, Brazil, Indonesia, East and West Africa. • Proved Reserves:-2.3 BBOE (as of December 31, 2009) • Production: 234.78 Million BOE (in 2009) • Net income: 103.0 Million USD • Market Cap: 30,745.74 Million USD • Major Projects: Jubilee field offshore Ghana, Caesar/Tonga complex in the deepwater Gulf of Mexico, El Merk in Algeria

4. Anadarko Petroleum Corporation History: • 1959: Anadarko Production Company is formed as a subsidiary of Panhandle Eastern Pipe Line Company. Spent $2.5 million on exploration and purchased 27 Texas panhandle producing gas wells. • 1960-64: Anadarko enters into 20-year agreement with the Pioneer Natural Gas Company. • 1965: The company acquires Ambassador Oil Corporation for US$ 12 Million, • 1970-76: Anadarko's involvement in offshore exploration began and 10 of 24 blocks proved commercially productive in Gulf of Mexico. • 1985: Discovers 116 BCF Gas in Anadarko Basin. Anadarko Petroleum Corporation is formed as an independent company. • 1993: Anadarko became the first foreign-owned company to discover oil in the deserts of Algeria. • 2001: Acquired Berkley Petroleum in Alberta for $777 million • 2009:Nine deepwater discoveries (360 million BOE of net risked resources).

5. Woodside Petroleum History: • 1954:Woodside was established a year after Australia's first oil discovery • 1956: Woodside secured the first offshore exploration licence in Victoria • 1963: After 10 years without success in southern Australia, Woodside was awarded exploration rights in the North West Shelf off north-western Australia . • 1971-72:Major gas and condensate discoveries at Scott reef, North Rankin, Angel and Goodwynamounting to 50 TCF gas constituting the North West Shelf ventures which is one of worlds largest LNG producer. • 1999-2000: Began exploring in GoM. Acquired a 15% interest in the US$1 billion Ohanet gas project in the Illizi province of Algeria. • 2009: 5 countries |1651 mmboe reserves | US$ 4352 million revenue 80.9 MM boepd production Woodside has assets in Algeria, GoM, Korea and Brazil.

6. ONGC Videsh • ONGC Videsh Limited (OVL) was rechristened on 15th June 1989 from the earstwhile Hydrocarbons India Private Limited, which was incorporated on 5th March, 1965. • OVL’s international oil and gas operations produced 8.87 MMT of O+OEG in 2009-10 as against 0.252 MMT of O+OEG in 2002-03. OVL’s overseas cumulative investment has crossed USD 10 billion. • As of 31st March 2010, OVL has a presence in 39 projects in 15 countries:Myanmar | Russia | VietnamIran | Iraq | Syria Egypt | Libya | Nigeria | Nigeria Sao Tome & Principe | Sudan Brazil | Colombia | Cuba | Venezuela

7. ONGC Videsh • The company maintains a combination of producing, discovered and exploration assets, working as operator in 17 projects and joint operator in 5 projects.  • OVL produces hydrocarbons from its 9 assets, namely, • Russia (Sakhalin-I and Imperial), • Syria (Al-Furat Project), • Vietnam (Block 06.1), • Colombia (Mansarover Energy Project), • Sudan (Greater Nile Oil Project and Block 5A), • Venezuela (San Cristobal Project) and • Brazil (BC-10) ; • 6 projects are in development phase and • 23 are in the exploration phase. • OVL has successfully completed 741 km long pipe line project in Sudan.

8. GSPC Hazira

9. GSPC: History • Incorporated in 1979 as a petrochemical company, rechristened itself as GSPC in 1994. • GSPC acquired several discovered fields in Cambay offered by the GOI during 1994 and 1995. • Sabarmati : Operated by Oilex • Cambay : Operated by Oilex • Bhandut : Operated by Oilex • Hazira : Operated by Niko, 1st production for GSPC • Unawa : Operated by GSPCL • Matar : Relinquished • Company is operator in 8 blocks awarded during NELPs. • Discovered Oil in Tarapur Block in 2004 and DeenDayal field in 2008. • Working Interests in 60 onshore and offshore E&P blocks, 49 in India and 11 blocks are located in Australia, Egypt, Indonesia and Yemen.

10. GSPC: Operations • Activities involve Gas transmission, City gas distribution, CNG, LNG, Power plant, Wind farm and E&P activities. • Working Interests in 14 PMLs granted in respect of producing fields in the Cambay Basin: Allora, Asjol, Bhandut, Cambay, Dholasan, Hazira, Kanwara, North Balol, North Kathana, Promoda, Sabarmati, South Pramoda, Tarapur and Unawa. • Company also hold a working permission in respect of the Ingoli field in the Cambay Basin. • GSPC has made the India's one of largest gas finds in the Krishna Godavari Basin. • It has also built the country's first land-based drilling platform, Ratnakar, at Hazira.

11. Hazira Field • Hazira Field has been in operation since 1994 by GSPC(67%) Niko 33% stake (GSPC-NIKO). Niko is Operator. • Hazira had Initial reserve estimate of 50 million m³ of gas with one well drilled by the national oil company. • After taking over, GSPC-Niko commenced production in July 1995 after workover of Hazira well #1. • Five on-land wells were drilled, which upgraded the in-place reserves to more than 20 BCM. • At present, production from Hazira field is 4 MMSCMD which is likely to go up to 5.5 MMSCMD after drilling all wells from the platform. • GSPC - NIKO has also finalised a plan to drill oil well for offshore platform and produce oil at the rate of approx. 2000 BOPD.

12. Cairn India Mangala Field

13. Mangala Area • Licence Block(s): RJ-ON-90-1 , Onshore • Consortium: Cairn India, ONGC Production • Current Production Oil: 25,000 (mmbll) • Estimated STOIIP: 3600(mmbll) • Producing Formations: Tertiary, Palaeocene, Fatehgarh Cairn India Success Story • The area was initially explored by Shell. • Cairn gained an exploration interest in the Block in exchange for sale of half of its Bangladesh assets to Shell. • Cairn drilled two unsuccessful exploration wells and Shell then sold its 50% share to Cairn for $7.5 million • Cairn's third well, now 100% owned, found the Mangala oil field

14. Mangala Field: participation history • 1992 Royal Dutch Shell won the licensing round for Block RJ-ON-90-1. • 1998 27% of this contract was then sold to Cairn Energy. • 1999 Cairn's increased its stake to 50% by offering in exchange to fund the second exploration well. • 2002 Cairn purchased remaining 50% for $7.25 million. • 2005 ONGC exercised their right as part of the terms of the PSC to acquire a 30% stake. • 2009: Production commenced from the block.

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