2 Exploration & Production History of Upstream E&PEarly 1970’s operated as international company of the state own oil and gas company, Rompetrol (Iraq 1974).1980 started operations as ROMPETROL of LIBYA by signing an EPSA with NOC LIBYA for Block NC 115 within the Murzuk Basin.1984 World class achievements: the discovery of giant oilfields in Libya, Murzuk Basin (>100 MM bbl).2001 Rompetrol acquired 100% interest in Block 11, Oriente Basin, Ecuador, through the purchase of Lumbaqui Oil Ltd.2004 Rompetrol started exploration of Zegujani and Satu Mare blocks.2005 Rompetrol acquired the exploration licenses for East Carpathians blocks by transfer from Forest Oil USA.2006 Rompetrol won by Bidding procedure the production license on Gas Field Golesti.
3 E&P in Romania 40% 100% 65% Joint Operating Agreement Satu Mare Block Focsani, Gresu Nereju, Blocks100%Zegujani Block65%Joint Operating Agreement
5 E & P Capabilities: Human Resources SpecialistsNo of EmployeesSenior Exploration Geophysicist1Exploration GeologistGeophysicist – log AnalystSenior Geologist– Field ProductionSenior Reservoir EngineerProduction & Workover EngineerConsultant Specialists (expert)Risk/Economic Analyst2Support (Data Base, QHSE, administrative)Management Upstream Business DevelopmentTOTAL12ExplorationRiskAppraisal &Development PlansHistory ProductionPerformance AnalysisDecline curve performanceDrive mechanism2D, 3DSeismicinterpretationReservoirModelingStructural,PetrographyStratigrapyFaciesPhysicalReservesEvaluationProduction OptionsEconomic AnalysisE & P
6 E&P capabilities: Hardware & Software Petrel licenses seismic interpretation, 1 for reservoir modeling.OFM Software -1 licensePipeSim Software -1 license the production license on Gas Field Golesti.LANDMARK – Georgraphix1 license for seismic interpretation, reservoir modelling and log interpretation
7 E&P Data Base Regions: Russia, Kazakhstan & other C.I.S. Topics: Maps General DataReserves & ProductionBalanciesFields & WellsLibrary – Books & MagazinesLegend:
9 Assets overview: Satu Mare Exploration Block 80 WELLS poor investigatedLogs: PS, deep and shallow resistivity (except 4– PGAC)CoresProduction test214 SEISMIC LINES16 vintages acquired and processed with different parametersSeismic linesLegend
10 Assets overview: Satu Mare – Top Badenian Structural Map
13 Upstream E&P StrategyThe E&P Department supports The Rompetrol Group (TRG) strategy to become an integrated oil company by identifying exploration assets both in Romania and overseas.Evaluate and bid for valuable exploration/production assets in Romania offered by the National Agency of Mineral Resources (NAMR).Expand onshore activity in North Africa, Middle East, Black Sea and Caspian regions.