Oman Economic Forum Expansion and prospects of the basic and petrochemical industries. (March 18 th and 19 th, 2014) Musab Al Mahruqi – CEO Oman Oil Refineries and Petroleum Industries Co. SAOC

2  Orpic Overview  Growth Projects  Opportunities to Oman Outline

3 Orpic Overview Mission “To meet Oman’s needs for refined petroleum fuel and maximize long term returns by processing hydrocarbons to high value petroleum and petrochemical products” Vision “Build an Omani integrated refining and petrochemical business we are proud of”

4 Orpic Overview Gasoline Fuels LPG Diesel Jet Fuel Crude Oil Petrochemicals Polypropylene Paraxylene Benzene MAF Refinery Sohar Refinery Aromatics plant Polypropylene plant Imported Naphtha Propylene Naphtha Long Residue

5 Orpic Fact sheet

6 Gasoline to fill in 160,000 cars Diesel to fill in 15,000 trucks Jet Fuel to fill in 25 planes LPG to fill in 33,000 cylinders Every day we produce Fuels Petrochemicals 2500 MT Paraxylene 2500 MT Paraxylene 600 MT Benzene 600 MT Benzene 1000 MT Polypropylene 1000 MT Polypropylene

7  Orpic Overview  Growth Projects  Opportunities to Oman Outline

8 8 MAF Refinery Sohar Refinery Aromatics plant Polypropylene plant Sohar Refinery Upgrade Liwa Plastics Project Investments USD 800 mn USD 1,500 mn USD 1,600 mn USD 2,700 mn USD 3,600 mn Gasoline Fuels LPG Diesel Jet Fuel Gasoline Fuels LPG Diesel Jet Fuel Petrochemicals Polypropylene Petrochemicals Paraxylene Benzene Gasoline Fuels LPG Diesel Jet Fuel Bitumen Gasoline Fuels Polypropylene Petrochemicals HDPE LLDPE Benzene Projects Products Timeline Orpic “Growth” strategy – Expanding Product Mix

9 Increased Petchem Precursors Gas Extraction Natural Gas Methane Ethane LPG Methane Building Blocks of Petrochemicals Oil Refinery Naphtha Olefins Butdaiene Aromatics Fuels (Gasoline, Diesel, Jet Fuel, LPG Asphalt, etc.) Crude Oil Propylene Ethylene Xylene Toluene Benzene 2013 Methane Building Blocks of Petrochemicals Butdaiene Propylene Ethylene Xylene Toluene Benzene 2018

10 Fueling Growth Projects Fixed Assets to grow three times while 71% funded by bank loans Crude processing increase by ~ 70% Job creation of over 1000 skilled positions Manpower Plan Crude (and equivalent) consumption Capital Investments

11 Growth Projects: Increased Fuels and Plastics Enhanced Refinery and Petrochemical Integration

USD 10 bn USD 15.6 bn USD 13.8 bn Diversification away from Refinery Margins Growth Projects: Increased Revenues

13 Growth Projects: Increased exported products Growing fuel needs are shall be met Opportunity for plastics downstream industries as ample feedstock resin shall be available The Petchem sales in 2016 are lower since light Naphtha which was sold under AP, is now feedstock for SRIP in 2016 and hence consumed internally

14 Profitability set to grow in the future due to deeper conversion and enhanced value addition. Growth Projects: Increased Profitability

15  Orpic Overview  Growth Projects  Opportunities to Oman Outline

16 Key Benefits Summary Oil & Gas E&P And R&M Sectors Petrochemical Industry Plastics Processing Industry Application industriesConsumers GovernmentPolymer Resin / Processing Industry (SMEs) Economy / Consumers Value addition from well head to plastics end-users

17 Key Benefits to SMEs Compounders Other Plant & Equipment Wholesale Trade Decorating & Assembly Additives Software Machinery Suppliers Final Goods/End Users Processors Custom Captive Resin Suppliers (PP, HDPE, LLDPE) Recycling Distributors

18 Higher contribution of Manufacturing Sector Further diversification Increased Revenues from exports (USD 3.9bn in 2011, 40%) Job creation Key Benefits to Economy

1 Musab Al Mahruqi – CEO Oman Oil Refineries and Petroleum Industries Co. SAOC