PETROCI & ITS FUTURE PROJECTS

Located in West Africa French Speaking Country Independant since 1960 Population of 18 Millions inhabitants Economy Mainly relying on Agriculture Many Industrial Companies, among which PETROCI

SUMMARY 1. INTRODUCING PETROCI 2. ORGANISATION OF PETROCI 3. PETROCI ACTIVITIES 4. ANALYSIS & RESEARCH CENTER 5. PETROCI LPG 6. NATURAL GAS 7. TRADING 8. PERSPECTIVES IN E & P 9. CONCLUSION

1. INTRODUCING PETROCI (1) National oil company of Cote d’Ivoire, PETROCI, created on October 21st, 1975, with a main objective to promote oil and gas exploration as well as exploitation. Areas of dedication : Exploration & Production of Hydrocarbons and related substances; Transport, Storage, Refining and Marketing of these products; Participation in any activity within the hydrocarbon sector to be carried out through PETROCI; PETROCI dedicated to furthermore carry out any mission of general interest which the Government may entrust in;

1. INTRODUCING PETROCI (2) Petroleum Research History: It started in our sedimentary basin in 1953. It was first onshore, with a few wells drilled. There, shows of bituminen sands were found, drawing the attention of explorators on the Cote d’Ivoire oil potentiel. . It then got developed from the 1970’s, with majors such as ESSO, Philips Petroleum, AGIP and Tenneco. In 1978, the “Bélier” field was found in the Grand-Bassam offshore. Since then, research intensified, and lead to more than 60.814 Km of 2D seismic, 12.031 Km² of 3D seismic, and more than 200 wells drilled at depth over 2500m. Today, PETROCI has developed exploration, and several oil companies collaborating with PETROCI actively participate in promoting and developing our basin.

1. INTRODUCING PETROCI (3) Means Equity : About 40 Millions USD; Joint ventures; Setup of any related subsidiary companies, locally and/or abroad;

PETROLEUM CONCESSIONS 31 Blocks : 25 Licensed 4 Open (1 Onshore Block & 3 Deep Offshore Blocks) 2 to be licensed

EXPLORATION OPPORTUNITIES BLOCK CI-109 Area : 4351 km² No Wells Drilled Seismic Data : 2D Survey : 6068 km

EXPLORATION OPPORTUNITIES BLOCK CI-112 Area : 5004 km² Well Drilled : Total : 1 WD : 1735 m TD : 3100 m (3073 m TVDSS) Formation at TD : Albian Seismic Data : Pre-existing 2D : 1971 km 1999 2D Survey : 2293 km 2001 3D Survey : 1200 km²

EXPLORATION OPPORTUNITIES BLOCK CI-300 Onshore Block Area : 2866 km² Wells Drilled : 4 Adiadon-1 Groguida-1 Grand-Lahou-1 Grand-lahou PCI. Seismic Data : 2D Surveys : 637 km

EXPLORATION OPPORTUNITIES BLOCK CI-400 Offshore Block Area : 707 km² Wells Drilled : None Seismic Data : 2D Surveys : 505 km 3D Surveys: 270 km2

E & P ACTIVITIES THE SEDIMENTARY BASIN TOTAL ACREAGE : 90 400 km2 ONSHORE : 10 500 km² (12 %) 0 - 200 m (WD) : 12 000 km² (13 %) 200 - 1000 m (WD) : 4 500 km² (5 %) 1 000 - 2 000 m (WD) : 8 000 km² (9 %) 2 000 - 3 000 m (WD) : 20 000 km² (22 %) 3 000 – 4 500 m (WD) : 35 400 km² (39 %)

E & P ACTIVITIES 1. OIL PRODUCTION 2004 2005 2006 2007 Oil Production (Millions of barrels)   2004 2005 2006 2007 National Production 8.04 14.48 22.22 17.54 PETROCI Share 0.88 1.48 2.25 1.77 2. GAS SALES Gas Sales (billions of cubic feet)   2004 2005 2006 2007 National Production 50.83 56.28 52.85 48.78 PETROCI Share 10.55 11.85 10.46 9.70

E & P ACTIVITIES ACTUAL PRODUCTION ESPOIR FOXTROT LION & PANTHERE BAOBAB ≈ 55 mboepd

E & P ACTIVITIES (Oil Companies Operating in Côte d’Ivoire) 1953-1962 SAP 1971-1990 EXXON PHILIPPS PETROLEUM PETROCI AGIP TENNECO TOTAL 1992-1999 DEVON ENERGY (former OCEAN ENERGY) APACHE SHELL SANTA FE 2000-2006 CNR FOXTROT INTERNATIONAL VANCO ORANTO TULLOW OIL EDISON AL THANI C & L NATURAL RESSOURCES LUKOIL OVERSEAS E & P Ltd

EXPLORATION OPPORTUNITIES EXPLORATION OPPORTUNITIES IN CÔTE D’IVOIRE EXCELLENT GEOLOGICAL DATA BASE GREAT EXPLORATION POTENTIAL SEVERAL PROSPECTS TO BE DRILLED

5. ANALYSIS & RESEARCH CENTER Its missions are: Ensure a better geological knowledge of the basin, from sedimentology, stratigraphy, geochemistry studies, in order to put in evidence areas where oil could be accumulated. Ensure confidentiality by analysing data in site Reduce analysis costs by doing them in site, instead of abroad. Valorise national competences Diversify regional and national provisions of services, based on qualified personnel and high-tech material. Drilling samples & cores in a storage room

5. PETROCI LPG * PETROCI is also present in the market with LPG. Its objective is to substitute to energies such as cole or wood. As a direct effect, that will stop the rapid decrease of our forests. * To do so, PETROCI has done substantial investments with regard the requalification unit to recycle old or used gas bottles. * This has increased national consumption from 22.000 tons in 1993 to 88.000 tons in 2005.

6. NATURAL GAS STAKES, OBJECTIVES, COMPETITION : 1- Strategic Value: Cote d’Ivoire has important Natural Gas reserves. In its political energy, the government has decided to maximize the use of natural gas for the following reasons : Replace oil by natural gas, and thus better balance the national energy consumption. To reinforce the security of supplies while allowing saving in currencies. To reduce the environmental impacts. To allow a greater use of natural gas in industry by making it available and cheap to industries which need it for their development.

7. TRADING CRUDE OIL : LOCAL PRODUCTION : BAOBAB & ESPOIR 50.000 BBL/DAY PETROLEUM PRODCUTS : GASOLINE - JET - GASOIL - FUEL OIL 365.000 MT/year NATURAL GAZ Production 160 MCFD/year BUTANE Conso 110 000 MT/year (2007) Production 60 000 MT/year (2007)

SEISMIC SURVEY PROJECT IN THE TRANSITIONAL ZONE ABIDJAN 8. PERSPECTIVES in E & P (1) SEISMIC SURVEY PROJECT IN THE TRANSITIONAL ZONE Area for transitional new 2D survey Old 3D Data Old 2D Data

8. PERSPECTIVES in E & P (2) The national oil company of Côte d’Ivoire is interested in acquiring a 2D seismic survey in the transitional zone, offshore Côte d’Ivoire sedimentary basin. The purpose of this project is to get geological informations in the near shore and between 0 and 50 meters of water depth. Basic acquisition parameters Type of survey : 2D Survey size : 2200 sq km SP interval : 25 m Sample rate : 4 ms Record length : 5 sec Cable length : 6000 m Nom’l coverage : 60 fold This typical acquisition in the transitional zone required specific equipments, therefore the acquisition parameters will be well defined when the adequate equipments would be selected. (Approximative cost : $3.300.000 US - seismic data processing cost included -).

NEW 2D SEISMIC ACQUISITION PGS, in co-operation with Petroci, has acquired 6,500 km of Multi-Client 2D data offshore Côte d’Ivoire. The wole area is currently unlicensed, and it is planned to be part of a licensing round in the near future.

9. CONCLUSION Côte d ’Ivoire has high hopes for its deep offshore, and has ambitions to turn Abidjan into an important sub-regional center of petroleum activities (refining, petrochemicals, storage, trade, etc). In the light of the Baobab discovery in 2001, there has been since a particularly growing interest for the deep and ultra deep offshore of the Cote d’Ivoire sedimentary basin. Significant exploration and production events are expected to occur in the next few years. Please join us to share them.

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