1. Energy Technologies and Environmental Protection April 3 rd, 2006, Bucharest

2. 2 Black Sea Energy Conference 2006 Petrom – the largest oil and gas producer in South Eastern Europe Exploration and Production Estimated reserves of approximately 1 bn boe. Crude production in 2005: 5.2 mn tons Gas production in 2005: 6.2 bn cubic meters Petrom owns concession rights of development and production for 19 blocks, including 300 commercial oil and gas reservoirs In Kazakhstan, the company owns 6 concessions for exploration and production

3. 3 Black Sea Energy Conference 2006 Petrom – the largest oil and gas producer in South Eastern Europe Refining The largest refining operator in Romania Its two own refineries, Petrobrazi and Arpechim, have an annual refining capacity of 8 million tons The crude processed in 2005: 6,399 thousand tons Both refineries produce fuels in accordance with the European standards for environment and quality.

4. 4 Black Sea Energy Conference 2006 Petrom – the largest oil and gas producer in South Eastern Europe Marketing Leader of the Romanian retail market, with a network formed of 550 filling stations International network of 82 filling stations in Moldavia and Hungary Sales volume in 2005: 5,046 thousand tons In 2005 a new concept for the filling stations was launched, Petrom V, which sets new industry standards In 2005, the company introduced an efficient system for the administration of the filling stations, called Full Agency

5. 5 Black Sea Energy Conference 2006 ►EBIT turned positive as Petrom benefited from a favorable environment and an improved controlling of the operating costs ►Proposed dividends to the General Meeting of Shareholders: RON 738.4 mn Positive financial results in 2005 RON mn20052004 Earnings before interest and taxes (EBIT)1,884(581) Earnings before interest, taxes, depreciation and amortization (EBITDA) 2,775114 Net income1,416(974) Turnover10,7608,688

6. 6 Black Sea Energy Conference 2006 Energy Trends 2030 for EU25 Representative of Europe Oil Gas Coal Nuclear energy Renewables High price scenario Baseline scenario ►Shows rising energy demand ►Trend shows switchover to lower carbon fuels ►Switch depends on Price scenario

7. 7 Black Sea Energy Conference 2006 Predicted Energy Trends for Romania ►Similar trends to those in Europe: ►rising energy demand; ►some switchover to lower carbon fuels ►switch again depends on price

8. 8 Black Sea Energy Conference 2006 Petrom 2010 Dominating the integrated oil and gas market in South Eastern Europe

9. 9 Black Sea Energy Conference 2006 Products ►Reduce air pollution of product use ►Reduce energy consumption during product use ►Lower carbon fuels Production ►Reduce contamination of the environment with hydrocarbons (spills, leakages, emissions) to as low as reasonable practical ►Reduce energy intensity ►Increase operational efficiency ►Optimize waste management Oil & Gas Technologies and the Environment Protection Challenges Our contribution: pioneering solutions in both areas!

10. 10 Black Sea Energy Conference 2006 Products ►Fuel and heating oil quality – EU standard earlier than necessary ►Gas to Oil ratio (app. 50/50) ►Biofuels (planned to ensure blending in accordance with Directive 2003/30/EC of 8 May 2003 on the promotion of the use of biofuels or other renewable fuels for transport) ►Consumer information on environmentally friendly product use Production ►Raise technical standards to EU level of existing plants ►Raise awareness among total workforce about environmental issues ►Introduce voluntary standards e.g. zero flaring policy for offshore platforms ►Enhanced oil recovery and underground storage of natural gas Oil & Gas Technologies and the Environment Protection Petrom contribution

11. 11 Black Sea Energy Conference 2006 Oil & Gas Technologies and the Environment Protection Petrom contribution Total investment until 2010 - 3 bn EUR ►sustain growth of the company ►raise environmental standards and efficiency (less CO 2 per unit of product produced) ►maintain a strong gas business (less carbon intensive than oil) ►secure energy supply for Romania

12. Thank you!