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Petroleum Investment Opportunities Offshore Suriname

Petroleum Investment Opportunities Offshore Suriname. AAPG 2003 Convention & Exhibition 11 - 14 May 2003 Salt Lake City. Staatsolie. The State Oil Company Suriname - Staatsolie - is an integrated oil company fully owned by the Republic of Suriname: Undertake E&P activities in Suriname

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Petroleum Investment Opportunities Offshore Suriname

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  1. Petroleum Investment Opportunities Offshore Suriname AAPG 2003 Convention & Exhibition 11 - 14 May 2003 Salt Lake City

  2. Staatsolie The State Oil Company Suriname - Staatsolie - is an integrated oil company fully owned by the Republic of Suriname: • Undertake E&P activities in Suriname • Promote the hydrocarbon potential • Develop a National expertise in the oil industry.

  3. Financial figures 2002 • US$ 100 million in Gross Revenues • US$ 37 million in Earnings before Income Taxes • 4.5 million barrels of 15.8o API Saramacca crude • 2.7 million barrels of refined products • 127 million barrels proven reserves • 35 million investment program for 2003

  4. 1000 600 700 900 500 800 1000 1000 3500m 3000m 4000m D E M E R A R A PLATEAU 3500m 1200m 3000m D E E P W A T E R 2000m A2-1 900 900 1000m 27 28 2000m 1000m 500m S H E L F - E D G E 500m 200m 100m NCO-1 ABARY-1 800 LEGEND 800 200m GLO-1 18 19 20 21 22 23 24 25 26 ONSHORE 100m TRANSITION ZONE SON-1 MO-1 CO-1 NEARSHORE SO-1 50m S H ELF SHALLO W W ATERS 9 10 11 12 13 14 15 16 SHELF-EDGE I/23-1X 30m 700 700 DEEP WATER 10m 1 2 3 4 5 7 8 EXPLORATION BLOCKS 2003-2004 B/34-1X NEAR-SHORE 0m BNS-1 DRY WELL 3m 0m TN-1 CA-1 GUYANA PARAMARIBO GAS SHOWS WA-2 OIL SHOWS 600 600 OIL & GAS SHOWS SURINAME 0 50 100KM OIL WELL FRENCH-GUYANA APURA OIL FIELD 500 800 700 600 1000 900 19 Exploration Blocks 2003 - 2004

  5. Guyana Basin • USGS estimate (2000 report): • Potential reserve of 15.3 billion barrels crude and 42 tcf gas • ranked 2nd under explored basin • 117 oil fields: • 24> 100million barrels • 6> 500 million barrels Found to-date: 1 oil field with 167 MMBLS reserves (Tambaredjo, onshore Suriname)

  6. No bonuses • No Levies on Exports • No Taxes on Import • No Rental Fees Royalty Cost Oil Exploration DevelopmentProduction Profit Oil Fixed Rate Taxes

  7. 200 m Trinidad 2000 m o 10 N Atlantic Ocean o 8 N 2000 m Venezuela 200 m Guyana o 6 N Paramaribo Tambaredjo oil field Fr. Guiana o 4 N Suriname Brazil Takutu Basin Brazil 100 Mi o o 55 W o o o 57 W 53 W 59 W 51 W 100 km Petroleum Occurrences Guyana Basin

  8. Basin Formation • Early KK • Rotation Africa • Inversion early grabens Africa • Central Atlantic phase (CA) • Lower JJ rifting • Upper JJ passive margin Guinea Fault Zone Takutu Graben Africa South America Inversion Africa • Equatorial Atlantic phase (EA) • Albian - Recent • Wrench margin development Takutu Graben South America Proto-Caribbean SURINAME Takutu Graben South America

  9. Suriname basin: Stratigraphy Number of wells S N 22 + 900 onshore wells 15 4 ~5 Takutu graben wells Guyana

  10. 1000 600 700 900 500 800 1000 1000 3500m Area of Mature Turonian Source Rock 3000m 4000m 3500m 3000m 1200m D E M E R A R A PLATEAU D E E P W A T E R 2000m A2-1 900 900 1000m 27 28 2000m 1000m 500m S H E L F - E D G E 500m 200m 100m NCO-1 800 800 ABARY-1 200m GLO-1 18 19 20 21 22 23 24 25 26 100m SON-1 MO-1 CO-1 SO-1 50m Petroleum System Envelope S H ELF 9 10 11 12 13 14 15 16 I/23-1X 30m 700 700 10m 1 2 3 4 5 7 8 B/34-1X NEAR-SHORE 0m BNS-1 3m 0m TN-1 CA-1 GUYANA PARAMARIBO WA-2 600 600 100 200 KM 0 FRENCH-GUYANA APURA 500 800 700 600 1000 900 Suriname Offshore

  11. 1000 600 700 900 500 800 1000 1000 3500m Staatsolie data 3000m 4000m 3500m WesternGeco speculative surveys 3000m 1200m D E M E R A R A PLATEAU D E E P W A T E R 2000m Well-tie program A2-1 900 900 Regional program 1000m 2000m 1000m 500m S H E L F - E D G E 500m 200m 100m NCO-1 800 800 ABARY-1 200m GLO-1 100m SON-1 MO-1 CO-1 SO-1 50m S H ELF In addition: ~ 25.000 km 1970-1999 vintages ON OPEN FILE I/23-1X 30m 700 700 10m B/34-1X NEAR-SHORE 0m BNS-1 3m 0m TN-1 CA-1 GUYANA PARAMARIBO WA-2 600 600 100 200 KM 0 FRENCH-GUYANA APURA 500 800 700 600 1000 900 1999 & 2001 seismic coverage

  12. N S Offshore blocks Onshore blocks POP-UP STRUCTURES SHELF EDGE CANYONS ONLAP TRAPS LEVEED AND CHANNELISED TURBIDITE SYSTEMS CEN / TUR SR JURASSIC LACUSTRINE SR SUBCROP TRAPS LOW STAND FANS Identified Play Types

  13. 1000 600 700 900 500 800 1000 1000 3500m 3000m 4000m 3500m 3000m 1200m D E M E R A R A PLATEAU D E E P W A T E R 2000m A2-1 900 900 1000m 2000m 1000m 500m S H E L F - E D G E 500m 200m 100m NCO-1 800 800 ABARY-1 200m GLO-1 100m SON-1 MO-1 CO-1 SO-1 50m S H ELF I/23-1X 30m 700 700 10m B/34-1X NEAR-SHORE 0m BNS-1 3m 0m TN-1 CA-1 GUYANA PARAMARIBO WA-2 600 600 FRENCH-GUYANA 100 200 KM 0 APURA 500 800 700 600 1000 900 Suriname Offshore 106 Staatsolie data 134 NCO-1 CO

  14. EA mega-sequence 2000 Aptian/Albian Turonian source rocks Volcano- clastics ? CA mega-sequence: Original graben fill 4000 Aptian/Albian Onlap Trap

  15.  CO-1 NCO-1 Pl MMI OL MEO LEO TWT(ms) PC Pl MA CA  50 KM UMI  MMI LMI OL EO PC TOP UK MA TOP CA CA TR CE TOP LK AB AP

  16. Suriname Offshore • The combination of a steep actively prograding shelf, with sand carried to the shelf edge, adjacent to a deep pull-apart basin is a classic setting for sand-rich turbidites and low-stand fans.

  17. LOWER TERTIARY TURBIDITES MM UNC KK UNC APT / ALB UNC MATURE TURONIAN SOURCE ROCK 25KM SE NW W99-106 CDP TWT(MS)

  18. Miocene Turbidites / Low Stand Fan Complex Lower Tertiary Turbidites 25KM NW SE W99-134 CDP TWT(MS)

  19. 1000 600 700 900 500 800 1000 1000 3500m 3000m 4000m 3500m 3000m 1200m D E M E R A R A PLATEAU D E E P W A T E R 2000m A2-1 900 900 1000m 2000m 1000m 500m S H E L F - E D G E 500m 200m 100m NCO-1 800 800 ABARY-1 200m GLO-1 100m SON-1 MO-1 CO-1 SO-1 50m S H ELF I/23-1X 30m 700 700 10m B/34-1X NEAR-SHORE 0m BNS-1 3m 0m TN-1 CA-1 GUYANA PARAMARIBO WA-2 After TFE 600 600 100 200 KM 0 FRENCH-GUYANA APURA 500 800 700 600 1000 900 Channel architecture associated with Miocene Turbidites/Low-stand fan complex AFTER TFE

  20. Prograding Coastal sands Shelf-edge canyon Low-stand wedge A/A truncation A/A onlap Basement onlap UKK pinch-out 10m Area with roll-overs BNS-1 Submarine fans Combination trap Rotating fault blocks Summary of trap types

  21. Visit • Booth 54 • Atlas with full set of well data, seismic data and lead inventory. • Knowledgeable staff to guide you further. • Make an appointment to visit our offices in Paramaribo, Suriname. • Visit our website at www.staatsolie.com

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