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March 23, 2007

EXPLORACIÓN Y PRODUCCIÓN. Value Creation Through Knowledge, Technology and Project Management Synergies in the oil and gas sector of Mexico-Norway. March 23, 2007. In our industry, we compete for common resources. Productive basins. Oil and gas. Gas. Mexican reserves and resources.

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March 23, 2007

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  1. EXPLORACIÓN Y PRODUCCIÓN Value Creation Through Knowledge, Technology and Project ManagementSynergies in the oil and gas sector of Mexico-Norway March 23, 2007

  2. In our industry, we compete for common resources

  3. Productive basins Oil and gas Gas Mexican reserves and resources Reserves 3P as of January 1st. 2007: 45.4 billion BOE Global ranking Burgos Sabinas Sabinas Aguas profundas del Golfo de México Deepwater Gulf of Mexico Tampico- Misantla Tampico- Misantla Yucatan Platform 19.2 Prospective resources Veracruz Veracruz 0.3 Frente Sierra Madre Oriental Frente Sierra Madre Oriental d d Basin of Sureste

  4. Technologies introduction Crude oil Nitrogen injection Multilateral wells Thousands barrels daily Offshore electric submersible pumping Seismic noise reduction Offshore developments and facilities Water injection fracturated reservoirs Subsea completion Reservoir flow simulations Water injection Gas lift Natural Gas Visualization center Depth migration processing Million cubic feet daily 3D seismic acquisition Horizontal wells Tubingless Multiple fracture completions

  5. 22 Project management skills Actions to improve • Strengthen the project design through: • Multidisciplinary teams: a way of life • Use of the FELa methodology • Strengthening technical sanction process in projects • Speed up the identification and incorporation of existing technologies in the market Complex projects • Cantarell • Ku–Maloob-Zaap • Burgos • Antonio J. Bermúdez Complex • Veracruz

  6. Investments • For the coming years, upstream Pemex investment will require 148 billion pesos annually to keep oil production above 3 million barrels of oil per day, and reach more than 6 billion standard cubic feet per day, in average Mexico´s future investment in E&P thousand million pesos Infrastructure Global investment in the oil and gas industry billion dollars Future development Exploration Forecast Exploitation Source: EIA • This money will come from a variety of financial options

  7. 87 Human resources • Strengthen the capabilities and abilities of the human resources Actions • Integrate processes and tools that allow management of future requirements regarding human resources • Attract, develop and retain key skilled personnel • Define processes that allow the areas’ existing requirements to be matched with the staff abilities • Strengthen, link, and give transparency to the processes of evaluation, economic rewarding, and staff promotion PEP needs to: • Strengthen the personnel capacities to improve operating performance • Strengthen a results-oriented culture towards the creation of value • Identify an organizational structure of reasonable size and cost • Critical disciplines: geology, geophysics, petrophysics, reservoir engineering, flow assurance, subsea engineering, and floating facilities

  8. According to legal framework in Mexico, Pemex E&P has implemented non commercial agreements for technical, scientific and training cooperation with IOC’s, in topics related to E&P These allowed Pemex E&P to establish a collaborative relationship with Norwegian oil companies Pemex E&P – Norway’s oil companies collaboration agreements Non exhaustive Statoil • Development planning of Crudo Ligero Marino project • Technologies and best practices employed in deepwater projects • Environmental issues related to E&P activities, currently active Hydro • Subsalt seismic interpretation and deviated well planning Bergesen Worldwide • Construcion of Ku-Maloob-Zaap´s FPSO FMC and Aker Kvaerner • Subsea technology training

  9. On November 30, 2005, PEP and Statoil signed a Letter of Intent to identify and evaluate projects which can be developed through CDM methodology The Letter of Intent considered possible acquisition of Certified Emission Reductions (CERs) by Statoil Statoil and Pemex E&P identified and analyzed several projects to be proposed as CDM projects to the World Bank Tres Hermanos onshore project was selected to be the first project implemented under CDM methodology Pemex E&P – Statoil Clean Development Mechanism (CDM) On March 1, 2007 PEP – Statoil signed the ERPA document (Emission Reduction Purchase Agreement)

  10. Our challenges Deepwater • To find and develop deepwater reserves • Accelerate the incorporation of proven reserves. • Accelerate the start of production • Ensure availability of required drilling rigs • Increase PEP’s execution capacity through the incorporation of third parties • To explore subsalt prospects, mainly in offshore plays • To apply enhanced oil recovery processes in mature fields • To develop extra-heavy oil reserves in a profitable manner • To increase project managements skills • To develop low permeability reservoir Subsalt

  11. Pemex and Norwegian companies face an interesting future. We had begun a collaborative effort in the past, and of course, new aspects could to be addressed: Deepwater development projects Sharing capabilities Enhanced oil recovery for mature fields Understanding transborder reservoirs technical issues “Farm in” opportunities outside Mexico Nitrogen injection CDM projects Project management Reservoir management in fractured reservoir Exploitation of tight gas sands Training and development of technical personnel Final comments

  12. EXPLORACIÓN Y PRODUCCIÓN

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