PETROVIETNAM INVESTMENT & DEVELOPMENT CO. (PIDC)

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1 PETROVIETNAM INVESTMENT & DEVELOPMENT CO. (PIDC) Jakarta, 13 Jun 2006 CONTENT Organization & Business Profile Domestic Projects (brief) Overseas Projects Outlook 1

2 PIDC as wholly-owned owned subsidiary of Vietnam Oil & Gas Corporation (PETROVIETNAM) PETROVIETNAM SUBSIDIARIES AND AFFILIATES PETROVIETNAM P ETROVIETNAM INVESTMENT & D EVELOPMENT C OMPANY PetroVietnam Processing & Distributing Company (PVPDC) PetroVietnam Gas Company (PVGC) PetroVietnam Technical Services Company (PTSC) PetroVietnam Finance Company (PVFC) PetroVietnam Tourist & Service Company (PVTSC) Vietnam Petroleum Institute (VPI) R&D Center for Petroleum Safety&Environment (RDCPSE) PetroVietnam Manpower Trainning College (PMTC) Phu My Fertilizer Project Management Board PetroVietnam Exploration & Production Company (PVEP) PV Engineering and Construction Company (PVECC) D rillin g M u d C o m p an y (D M C ) PetroVietnam Trading Company (Petechim) PetroVienam Insurance Company (PVIC) PV Investment Consultancy Construction Com. (PVICCC) R & D Center for Petroleum Processing PetroVietnam Inform ation Center (PIC) PetroVietnam Drilling Company (PV Drilling) Camau Gas-Power-Fertilizer Project Management Board PIDC ORGANIZATION MANAGEMENT BOARD EXPLORATION Department RESERVOIR ENGINEERING & EXPLOITATION Department ADMINISTRATION & PERSONNEL Ddepartment FINANCIAL & ACCOUNTING Department PLANNING Department DRILLING & SHE Department NEW VENTURE Department PROJECT MANAGEMENT Department COMMERCIAL & LOGISTICS Department PV Randugungting Co. Ltd PIDC-ALGER PIDC IRAQ CON SON JOC VIETGASPROM JOC THAI BINH GAS ENTERPRISE PV M I Co. Ltd IS & IT Department PV M II co. Ltd 2

3 Established in 2000 (from former PVSC with domestic supervising function) Business: Oil and gas exploration and production (E&P, operating) Main shareholder: Petrovietnam (100%) BRIEF BUSINESS PROFILE Areas of operations: Domestic: Northern & central on- & offshore areas of Vietnam (Operating Areas), and some blocks/fields in Southern continental shelf Overseas: All countries (sole representative of Petrovietnam) PIDC s s Remaining Reserve (end of 2005, net interest): Domestic: 430 MMbo Overseas: 150 MMbo Current production rate: 26,500 boed (oil: ~99%) Domestic: 26,500 boed Overseas: Nil; First oil projected from Jul-2006 at 1,200 bopd; ; 2008 production projected at 15,000-30,000 bod (net interest) Current projects Domestics: 04 onshore projects with partners/associates; all onshore and 18 offshore blocks with 100% equity Overseas: 07 projects in 5 countries of 4 regions Revenue/Expenditure: 2005: est d d $520 MM / US$ 60 MM ; Manpower (end of June 2005): ~320 people (H.Q: 178) DOMESTIC PROJECTS/OPERATIONS Tien Hai C Gas Field C 20 MM m 3 gas/year; PIDC: 100% Blocks 102&106; PIDC: 20% Exploration Blocks 112&113; PIDC: 50% Exploration Operating Areas of PIDC (100%) excluding blocks licensed with partners Blocks 10&11.1; PIDC: 55% Exploration Blocks PM3-CAA; PIDC: 12,5%; Production: bod MMcfd Block 46-CN; PIDC: 30%; Initial Production: bod + 27 MMcfd 3

4 CURRENT OVERSEAS PROJECTS Blocks 433a&416b, Algeria 40% Amara Oil Field, Iraq 100% 3 Blocks in Tamtsag, Mongolia 5%/ each PM304 (Cendor Field), Malaysia 15% Exploration/Appraisal (05) Development/Production (02) Block NEM I, Indonesia 20% Block NEM II, Indonesia 20% Block SK305, Malaysia 30% AMARA OIL FIELD IN IRAQ - DEVELOPMENT Type of Contract: Service/Buyback TYÛLEÄ km Operator: PIDC Estimated OIIP/Rec. Reserves ~1.500/~ 560 MMBO; SOÂNG TIGRIS BUZURGAN NOOR Thaønh phoáam A RA ABUGHRAB FUQI HALFAYA IRAN b Estimated peak production BOPD MOÛDAÀUAMARA IRAQ Work performed: G&G Studies SOÂNG EUPHRATES BASRAH Currently suspended due to Force Majeure conditions KUWAIT FAO ALBAKER KAA. 4

5 Introduction BLOCKS 433 A & 416 B, ALGERIA - EXPLORATION AND APPRAISAL Alger TOUGGO URT EL OUED Hassi R Mel Hassi Messaoud Area: 6,472 km 2, Oued Mya Basin, Sahara Desert, 02 previous Oil Discoveries (Bir( Seba & BAT) PIDC (Operator): 40% Partners: PTTEP: 35%, Sonatrach: 25% Operations: Acquisition of 312 km 2D. Drilling of 3 commitment wells. New Oil Discovery in MOM (wildcat well MOM-2 bis,, DST flow rate: >5,000 bod) Discovered OIIP: 2 billion bbl; to be explored: 1 billion bbl CENDOR OIL FIELD, BLOCK PM 304, MALAYSIA - DEVELOPMENT PIDC: 15% Operator: Petrofac Commercial Declaration approved (rec. reserve #35 MMBO) Field development on-going under approved FDP. First Oil target: 2 nd half 2006, at ~12,000 bod 5

6 BLOCK SK 305, OFFSHORE SARAWAK, MALAYSIA EXPLORATION Tripartite (PIDC, Petronas Carigali) joint project in Malaysia Tripartite Jointly Operating (PCPP JOC) PIDC: 30% Discovery at Dana-1X in Dec- 05 (test flow rate >3,000 bod) Dana est d reserve: 22 MMbo PIDC: 20% BLOCKS NORTH EAST MADURA I & II (NEM I & II) OFFSHORE EAST JAVA, INDONESIA - EXPLORATION Operator: KNOC First exploration well not successful 02 well planned in

7 DMW-1 BLOCKS 19,21, 22, TAMTSAG BASIN, MONGOLIA EXPLORATION, APPRAISAL AND PRODUCTION PIDC: 5%, carried until Commercial Declaration Operator: Daqing (formerly SOCO) Extensive exploration and appraisal programs underway to determine Commerciality. Oil Production Facilities Current (early) Production in Block 19: 350 BOPD Heavy Oil Discovery in Block 21 under appraisal Offshore Block M1, Myanmar PROJECTS UNDER EVALUATION/BIDDING Onshore Block Randugunting, Indonesia N RANDUGUNTING BLOCK KRADENAN JOB PTM PETROCHINA BOJONEGORO SURABAYA LEGEND : JOB PTM PETROCHINA Oil Field Gas Field Oil Discovery W ell Gas Discovery W ell Oil & Gas Discovery Well Gas Indication Well Dry Hole Java Sea Java Island Madura Island ABC ABC PROSPECT LEAD East Java Pertam ina Area Index Map Block Boundary 7

8 PROJECTS UNDER EVALUATION/BIDDING Pertamina s Operating Area Indonesia OUTLOOK 8

9 REGIONS / COUNTRIES in FOCUS Southeast Asia Middle East North/West Africa Russia/Caspian Region South America OVERSEAS PROJECTS AND BUDGET ( ) 2010) Type of project Unit count/quantity Est d Equity Budget (MMUS$) Exploration 06 to Development min Production TOTAL (MM US$) Projected reserve increase: MM boe Projected addition to current production (from overseas projects) : 15,000-30,000 boed 9

10 CLOSING NOTES Petrovietnam/PIDC has achieved initial, but very important, success/development in overseas E&P business Improving performance through enhancing its effectiveness and efficiency will lead PIDC to a competitive E&P operating company, primarily in the region PIDC considers its human resource as the most valuable asset of the company and as the key to future success One of our most important strategic thinking is to collaborate with w strategic partners THANK YOU For your attention! 10

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