Ronda Colombia 2012
Content 1. Colombia Indicators / targets 2. Potential 3. Colombia Round 2012 2
Colombia has strong fundamentals on which to build prosperity Source: Ministry of Mines and Energy - Colombia 3
This is shown by its recent economic performance 350,0 GDP (PIB US$ Billion) 20 Unemployment Rate (National total) 300,0 288,2 18 250,0 16 200,0 150,0 14 100,0 50,0 12 10 9.8 Dec 2011-2000 2002 2004 2006 2008 2010 Source: World Bank 8 2001 2006 2011 Source: Statistical Department of Colombia DANE 4
Debt and Growth 36.3% 5
Improving Security Colombia s security strategy is constantly adjusting to maintain security improvements Include security considerations in energy planning Local security analyses for greater efficiency Increase troops as needed 6
Oil production Thousand barrels per day 1.000 914 941 800 785 600 525 529 531 588 671 400 200 0 0,1% 0,2% 1,1% 4,1% 8,3% 11,0% 11,7% 12,4% 2005 2006 2007 2008 2009 2010 2011 2012 January 7
Gas production Million cubic feet per day 1200 1000 874 1.016 1.090 1.032 990 800 648 680 730 600 400 200 0 0,0% 0,4% 0,1% 4,0% 4,8% 5,8% 6,4% 7,5% 2005 2006 2007 2008 2009 2010 2011 2012 January 8
Executed Contracts No. contracts Year TEA E&P Total 2005 28 31 59 2006 12 32 44 100 90 80 70 60 PND Goals TEA E&P 2007 10 44 54 2008 16 43 59 2009 6 58 64 2010 1 7 8 2011 9 67 76 TEA: Technical Evaluation Agreement E&P: Exploration and Production contract 50 40 30 20 10 0 45 45 45 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 9
Seismic acquisition Seismic: km of 2D equivalent 25.000 26.491 25.965 23.963 20.000 15.000 16.286 20.117 Goal: 18.222 11.896 10.000 9.970 5.000 0 1.662 2005 2006 2007 2008 2009 2010 2011 2012 January Investment in seismic acquisition (2012) 560 USD million Onshore Offshore ANH Goal 10
Exploratory wells drilled Number of exploratory wells drilled 200 180 173 160 150 140 120 100 99 112 126 121 80 70 75 60 56 40 35 Investment in drilling (2012) 770 USD million 20 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Exploratory wells drilled ANH Goal 8 11
Investment Oil & gas sector Million USD 6,000 5,000 4,000 3,333 3,405 4,321 3rd quarter 3,000 2,428 2,861 2,000 1,995 1,000 1,125 0,000 2005 2006 2007 2008 2009 2010 2011 Source: Banco de la República 12
Reserves Million barrels Oil Tera cubic feet Gas 2,200 2,000 1,800 2,058 1,988 9,0 8,0 7,0 6,7 7,2 7,5 7,3 7,1 7,3 8,5 7,1 1,600 1,400 1,542 1,668 1,510 1,478 1,453 1,358 6,0 5,0 4,0 4,0 4,2 4,0 4,3 3,7 4,4 4,7 5,4 1,200 3,0 1,000 2003 2004 2005 2006 2007 2008 2009 2010 2,0 2003 2004 2005 2006 2007 2008 2009 2010 Proven Totals Proven 13
Proved reserves incorporated Million barrels of oil equivalent MBOE 2.500 2.459 2.000 1.500 2.156 1.000 500-303 90 [2004-2010] 2011 New discoveries Reassessments The figure of 2011 is the incorporation expected and correspond to areas of E&P contracts in the same year declared commerciality. 14
New E&P discoveries 15
Content 1. Colombia Indicators / targets 2. Potential 3. Colombia Round 2012 16
Potential Basin / Resource (MMbbl / Tcf) Convencional crude Gas (Associated and free, Bcf) Heavy Oil (MMbbl) P10 P50 P90 P10 P50 P90 P10 P50 P90 OFFSHORE 276.413,0 75.815,0 12.570,0 205,8 20,6 1,9 Cayos 43.050,0 11.774,0 1.950,0 21,8 2,6 0,3 Chocó Offshore 12.589,0 3.453,0 575,0 58,9 4,4 0,1 Colombia 90.992,0 24.923,0 4.138,0 39,9 4,9 0,6 Guajira Offshore 18.721,0 5.131,0 855,0 10,0 1,1 0,1 Pacifico Profundo Colombiano 92.961,0 25.566,0 4.224,0 39,4 4,7 0,6 Sinú Offshore 8.182,0 2.248,0 377,0 10,4 1,0 0,1 Tumaco Offshore 9.918,0 2.720,0 451,0 25,3 2,0 0,1 ONSHORE 153.952,0 42.148,0 7.436,0 289,4 25,6 1,8 388.653,0 71.386,0 14.224,0 Amagá 804,0 233,0 75,0 3,3 0,3 0,0 Choco 13.444,0 3.682,0 607,0 14,2 1,3 0,1 3.454,0 1.145,0 313,0 Caguán-Putumayo 419,0 137,0 34,0 15,8 1,9 0,2 21.500,0 5.794,0 1.628,0 Catatumbo 213,0 59,0 17,0 8,8 0,7 0,0 Cauca Patía 4.553,0 1.247,0 208,0 60,5 4,3 0,1 Cesar Ranchería 4.137,0 1.135,0 189,0 9,7 0,8 0,0 Cordillera Oriental 22.653,0 6.221,0 1.030,0 44,9 3,6 0,2 5.467,0 3.052,0 1.369,0 Guajira 4.777,0 1.307,0 218,0 17,4 1,3 0,0 Llanos Orientales 3.250,0 892,0 148,0 40,2 4,4 0,5 319.455,0 46.735,0 6.806,0 Sinú San Jacinto 13.469,0 3.697,0 614,0 15,5 1,3 0,1 Tumaco 4.486,0 1.651,0 611,0 6,6 0,6 0,0 Urabá 4.413,0 710,0 159,0 3,9 0,3 0,0 Valle Inferior del Magdalena 13.177,0 3.609,0 602,0 12,3 1,1 0,1 Valle Medio del Magdalena 11.885,0 3.252,0 539,0 7,2 0,6 0,1 22.459,0 10.216,0 3.526,0 Valle Superior del Magdalena 999,0 274,0 45,0 10,5 0,9 0,0 16.318,0 4.444,0 582,0 Vaupés Amazonas 51.273,0 14.042,0 2.340,0 18,6 2,2 0,3 Áreas no Prospectivas o aledaña a cuenca TOTAL 430.365,0 117.963,0 20.006,0 495,1 46,3 3,8 388.653,0 71.386,0 14.224,0
Potential Basin / Resource (MMbbl / Tcf) Gas Hydrates (Tcf) Coal bed methane (Bcf) 1 Tar Sand OFFSHORE 75,6 19,1 4,9 Cayos Chocó Offshore 46,9 11,8 3,0 Colombia 1,9 0,5 0,1 Guajira Offshore 12,2 3,1 0,8 Pacifico Profundo Colombiano 3,7 0,9 0,2 Sinú Offshore 5,8 1,5 0,4 Tumaco Offshore 5,2 1,3 0,3 P10 P50 P90 P10 P50 P90 P10 P50 P90 ONSHORE 77.510,7 14.612,0 725,4 151.173,8 20.428,8 3.455,2 Amagá 516,0 96,0 4,0 318,6 43,1 7,3 Choco 2.187,7 295,6 50,0 Caguán-Putumayo 167,0 31,4 1,8 14.203,0 1.919,3 324,6 Catatumbo 682,3 128,2 6,6 816,9 110,4 18,7 Cauca Patía 720,7 134,9 7,0 711,9 96,2 16,3 Cesar Ranchería 17.713,0 3.296,0 161,0 756,1 102,2 17,3 Cordillera Oriental 4.585,2 867,1 43,7 22.109,1 2.987,7 505,3 Guajira 832,4 156,3 7,8 1.035,9 140,0 23,7 Llanos Orientales 573,0 107,3 5,3 16.526,0 2.233,2 377,7 Sinú San Jacinto 33.286,6 6.338,5 313,1 9.067,2 1.225,3 207,2 Tumaco 753,9 101,9 17,2 Urabá 1.027,7 138,9 23,5 Valle Inferior del Magdalena 252,0 47,0 2,0 4.174,3 564,1 95,4 Valle Medio del Magdalena 4.448,0 830,0 42,0 18.650,3 2.520,3 426,3 Valle Superior del Magdalena 11.177,7 2.099,8 106,8 25.404,0 3.432,9 580,6 Vaupés Amazonas 4.752,8 642,3 108,6 Áreas no Prospectivas o aledaña a cuenca 2.556,9 479,5 24,3 28.678,4 3.875,4 655,5 TOTAL 75,6 19,1 4,9 77.510,7 14.612,0 725,4 151.173,8 20.428,8 3.455,2
Potential Basin / Resource (MMbbl / Tcf) Oil Shale 3 Shale Oil 4 Shale Gas 4 P10 P50 P90 P10 P50 P90 P10 P50 P90 OFFSHORE Cayos Chocó Offshore Colombia Guajira Offshore Pacifico Profundo Colombiano Sinú Offshore Tumaco Offshore ONSHORE 91.078,0 2.220,1 60,5 151.524,0 19.607,4 3.090,6 2.050,7 265,5 33,8 Amagá 3,5 0,1 0,0 14,4 4,2 0,6 0,2 0,1 - Choco 412,2 10,9 0,3 235,2 71,4 11,4 3,2 1,0 0,2 Caguán-Putumayo 259,1 5,0 0,0 27.802,8 1.319,4 142,8 376,3 17,9 1,9 Catatumbo 85,0 3,6 0,1 1.918,2 403,2 50,4 26,0 5,5 0,7 Cauca Patía 240,2 7,8 0,2 295,8 88,2 13,8 4,0 1,2 0,2 Cesar Ranchería 622,9 13,9 0,3 1.108,2 294,6 43,2 15,0 4,0 0,6 Cordillera Oriental 294,6 9,5 0,3 7.543,8 2.137,8 327,0 102,1 28,9 4,4 Guajira 10.443,3 198,7 1,2 1.373,4 365,4 54,0 18,6 4,9 0,7 Llanos Orientales 798,9 33,3 1,2 68.478,6 10.783,8 1.297,2 926,7 145,9 17,6 Sinú San Jacinto 1.135,1 47,5 1,9 4.565,4 1.171,2 169,2 61,8 15,9 2,3 Tumaco 2.678,0 99,3 3,0 586,8 175,8 27,6 7,9 2,4 0,4 Urabá 1.950,3 97,1 4,1 943,8 241,8 34,8 12,8 3,3 0,5 Valle Inferior del Magdalena 12.166,0 220,4 3,8 1.255,2 362,4 55,8 17,0 4,9 0,8 Valle Medio del Magdalena 39.432,2 549,6 7,3 1.539,0 450,0 69,6 20,8 6,1 0,9 Valle Superior del Magdalena 5.986,4 240,9 8,5 469,2 139,2 21,6 6,4 1,9 0,3 Vaupés Amazonas 14.564,9 682,2 28,3 33.394,2 1.599,0 771,6 451,9 21,6 2,3 Áreas no Prospectivas o aledaña a cuenca 5,5 0,3 0,0 TOTAL 91.078,0 2.220,1 60,5 151.524,0 19.607,4 3.090,6 2.050,7 265,5 33,8
Potential Basin / Resource (MMbbl / Tcf) Gas in Tigh sands 5 (Tcf) P10 P50 P90 OFFSHORE Cayos Chocó Offshore Colombia Guajira Offshore Pacifico Profundo Colombiano Sinú Offshore Tumaco Offshore ONSHORE 43,7 5,5 1,0 Amagá 0,1 0,0 0,0 Choco 0,9 0,1 0,0 Caguán-Putumayo 6,7 0,9 0,1 Catatumbo 0,5 0,1 0,0 Cauca Patía 0,3 0,0 0,0 Cesar Ranchería 0,8 0,1 0,0 Cordillera Oriental 5,0 0,6 0,1 Guajira 1,0 0,1 0,0 Llanos Orientales 15,6 2,0 0,3 Sinú San Jacinto 2,5 0,3 0,1 Tumaco 0,5 0,1 0,0 Urabá 0,7 0,1 0,0 Valle Inferior del Magdalena 2,6 0,3 0,1 Valle Medio del Magdalena 2,1 0,3 0,0 Valle Superior del Magdalena 1,5 0,2 0,0 Vaupés Amazonas 3,0 0,4 0,1 Áreas no Prospectivas o aledaña a cuenca TOTAL 43,7 5,5 1,0
Investors Perception Perception of Attractiveness in LATAM Prospectivity Fiscal and Contractual terms Overall Attractiveness + 5,0 4,5 4,0 3,5 3,0 2,5 2,0 1,5 1,0-0,5 0,0 Argentina Bolivia Brazil Colombia Ecuador Peru Trinidad y Tobago Venezuela Source: ADL 2011 21
Colombia offers good business opportunities A prolific geology A good business environment A tradition of contractual stability A competitive institutional framework Competitive fiscal and economic terms Competitive and transparent rounds Marketing freedom for oil and gas overseas Exporters will be recognized the opportunity cost of natural gas exports whenever there are interruptions due to internal needs A window of opportunity 22
Content 1. Colombia Indicators / targets 2. Potential 3. Colombia Round 2012 23
Colombia Round 2012 Blocks - Ronda 2012 Basin Type 1 Type 2 Type 3 Total VAU AMAZ 2 2 CAT 2 2 COL 4 4 COR 4 19 23 GUA 2 1 3 GUA OFF 3 3 LLA 17 2 2 21 CAG PUT 3 1 9 13 SIN OFF 1 1 SIN SJ 4 4 8 TUM OFF 2 2 URA 1 1 2 VIM 4 4 1 9 VMM 4 4 1 9 VSM 1 6 7 Total 29 34 46 109 24
Colombia Round 2012 On shore Off shore Type 1 Type 2 Type 3 Total 29 29 5 40 6 98 11 Tipo Sísmica 2D (km) Número de pozos Total (Has) Tipo 1 914 76 656.520 Tipo 2 1.644 186 3.591.333 Tipo 3 438 23 9.229.703 Total 2.996 285 13.477.556 25
Blocks with unconventional potential Total of blocks Type 1 Type 2 Type 3 31 0 13 18 Basin Type of block Number of blocks CAT 2 2 COR VMM 2 4 3 17 2 4 3 1 VSM 2 3 26
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