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April, 2010

PERU Oppening to investment. AAPG 2010 PERUPETRO S.A. April, 2010. PRESENTATION OUTLINE. 1. PERU: 100 YEARS OF PETROLEUM HISTORY 2. ECONOMY OVERVIEW 3. EXPLORATION ACTIVITIES 4. PRODUCTION AND INFRASTRUCTURE. 1. PERU: 100 YEARS OF PETROLEUM HISTORY. Petroleum History Summary.

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April, 2010

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  1. PERU Oppening to investment AAPG 2010 PERUPETRO S.A. April, 2010

  2. PRESENTATION OUTLINE • 1. PERU: 100 YEARS OF PETROLEUM HISTORY • 2. ECONOMY OVERVIEW • 3. EXPLORATION ACTIVITIES • 4. PRODUCTION AND INFRASTRUCTURE

  3. 1. PERU: 100 YEARS OF PETROLEUM HISTORY

  4. Petroleum History Summary • In 1859 the 1º Wildcat was drilled in Titusville, Pensilvannia – USA Edwin Drake. • In 1863 the first tubular drilling in Zorritos area-Tumbes Basin took 24 days to be completed. TD was 24 mts. and produced 500 bls of 25º API oil. • 1864- Zorritos – The first refinery in Latin America was built in Bebedero location, Tumbes Basin by Cía. Peruana de RefinarPetróleo (Peruvian Oil Refining Co.). • 1873- Brea y Pariñas – First well produced 400 Bpd at 330 feet, Talara Basin.

  5. Petroleum History Summary • 1908- Lobitos Oilfields Ltd. took an area to explore. • 1920- International Petroleum Co. starts operations in the Talara basin. • 1922- The first Petroleum Law is given. • 1938- GansoAzul Co. drilled the 1er wildcat in AguasCalientes field in the Ucayali Basin. • 1957- A new discovery in the jungle Maquia: “El Oriente” Co.Iquitos Refinery to be built • 1961-Mobil discovers Gas in Aguaytía field, Ucayali Basin. • 1966-La Pampilla Refinery is built in Lima, Peru

  6. Petroleum History Summary • 1969-Petroperú is created • 1971-Petroperú discovers the Corrientes field in the Marañón Basin. • 1971- 1975 Exploration boom in the jungle basins. • 1974- Petroperu started production in Marañón. • 1977- The first jungle oil arrives in Bayóvar port through the northern Pipeline. • 1980- National Production reaches 195 M Bbls/d • 1984- Shell discovers the Camisea Gas field. • 1990- Review of the petroleum policy. Petroperu privatization started.

  7. Petroleum History Summary • 1993- The actual Hydrocarbons Organic Law is given. • 1993- Perupetro S.A. was created. • 2000 - Operations started in Camisea gas field. • 2004- Camisea starts gas production. • 2000-2008- 87 contracts in force

  8. 2. ECONOMY OVERVIEW

  9. Why invest in Peru? • Vast Natural Resources: • Ores, hydrocarbons, available lands having proper climates, forests, 2 500 km of coast, hundreds of lakes, snowcapped mountains. • GDP growth: 9.3% annually (2008) • Sustained growth since 2002 and forecast above 6% annually 2009-2011. • Exports tripled in 5 years. • Investment is increasing 20% annually. • Economy committed to the commercial integration process : • Preferential access to CAN, MERCOSUR, USA and EU. • 32 agreements on investment . • Regional Hub • Third largest country in South America / 28 million inhabitants. • Located at the center of the South American Pacific Coast. • Favorable climate for investment: • Country with Investment Grade • Attractive legal framework for Foreign Direct Investment, based on freedom and equality. • First place in Latin America regarding the State receptiveness to investment (WEF). • Second place in Latin America for protecting the Foreign Direct Investment (WB). • Country risk below the Latin American average • One of the lowest inflation in Latin America and a very stable exchange rate (free). • Domestic capital market’s sound growth. • Fiscal surplus of 3.1% (2007).

  10. Investment plays an important role in the country’s Economic Growth and signals a promising future Sources: Central Reserve Bank of Peru, Ministry of Economy (MEF) and National Institute of Statistic and Information * Preliminary figures

  11. 3. EXPLORATION ACTIVITIES

  12. Regional Setting Hydrocarbon Trends Paiche and Dorado heavy oil fields Hydrocarbon Area Tumbes Basin Peru Subandean hydrocarbon Trend Camisea and Candamo gas fields Bolivia Subandean Gas Trend

  13. Regional Setting Undrilled Structures • PERUPETRO has identified a total of 415 undrilled exploration prospects. • Most of them where defined by 2D seismic. • 286 prospects are located in the subandean basins.

  14. EXPLORATION ACTIVITIES HAS INCREASED CONSIDERABLY Areas under Contracts

  15. Areas with Major Potential Wildcats in the Southern Basins of PeruUcayali and Madre de Dios Basins 100% Exploratory success ¡¡¡

  16. CONTRACTED AREAS & IN COURSE PROJECTS • As a consequence of intensive promotion and international biddings 2006-2008, PERUPETRO has 87 contracts signed to december 2009. Last signing ceremony was on April, 2009. • At present investments are mainly focused in heavy oil production in the North Jungle and Natural Gas and Condensates production in Camisea and adjacent Blocks. • An important increase of exploration investment in different areas of the country is expected in the near future.

  17. 3. PRODUCTION AND INFRAESTRUCTURE

  18. 1998, heavy oil discovered, block 67 2005, 2006, heavy oil discovered, block 39 Production of the Blocks 1AB and 8 : 30,000 bpd Heavy oil-ITT 2005, 2009, Light Crude Oil Discovered

  19. PIPELINE • CAPACITY 200 MBPD • MARAÑON PRODUCTION • PRESENT PRODUCTION: • 40,000 BPD..... PRODUCTION & PIPELINE INFRASTRUCTURE 16” 252 Km 24 MBPD 24” 306Km 16 MBPD 36” 548 Km

  20. GAS - CONDENSATE PRODUCTION 2008, Kinteroni discovered, 2TCF San Martin, Cashiriari and Pagoreni production 88 2009, Urubamba discovered, 2 TCF 1998, Candamo discovered, 2 TCF

  21. PRODUCTION & PIPELINES INFRASTRUCTURE 18” 170Km 14” 211Km • GAS PIPELINE • CAPACITY 300MMCFD • Future upgrade (450MMCFD) • CAMISEA PRODUCTION • PRESENT PRODUCTION: • 300 MMCFD..... 10” 349Km 32” 211Km 24” 349Km

  22. LIQUID HYDROCARBON PRODUCTION 145,000 BPD OIL 71K NGL 74K MAINLY CAMISEA Nov 07 Dic 09

  23. GAS PRODUCTION 350 MMCFD CAMISEA 280 MMCFD Nov 2007 Dic 2009 NW OFFSHORE NW ONSHORE UCAYALI BASIN

  24. FREE AREAS FOR PERUVIAN BIDDING ROUND TO BE ANNOUNCED IN MAY 18th, 2010 HOUSTON JW MARRIOTT, WESTHEIMER FREE REGISTRATION promotion@perupetro.com.pe

  25. THANK YOU VERY MUCH FOR YOUR ATTENTION! VISIT US IN BOOTH: 845 www.perupetro.com.pe

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