1 Agencia Nacional de Hidrocarburos Agencia Nacional de Hidrocarburos Subdirección Técnica Colombian Hydrocarbon Opportunities November 2004 Libertad y Orden

2 Agencia Nacional de Hidrocarburos Colombian Overview Offshore & Onshore Exploration Opportunities Caribbean and Pacific Basins Agenda

3 Agencia Nacional de Hidrocarburos Key Points Large offshore acreage with high potential Many positive hydrocarbon indicators Proven gas production in Caribbean basin, with untapped oil potential Large prospective structures Increasing exploration activity

4 Agencia Nacional de Hidrocarburos Geographical Advantages Pacific Ocean Panama Canal

5 Agencia Nacional de Hidrocarburos Colombian Sedimentary Basins

6 Agencia Nacional de Hidrocarburos Land Map

7 Agencia Nacional de Hidrocarburos Caribbean Basin

8 Agencia Nacional de Hidrocarburos Exxon-Petrobras-Ecopetrol Ecopetrol Drummond Oxy-Repsol-Ecp. Stratuspacific oil Adulis-Solana Chevron-Texaco Hocol E&P Companies

9 Agencia Nacional de Hidrocarburos Seismic Programs km approx.

10 Agencia Nacional de Hidrocarburos Exploratory Wells Caribbean Sea

11 Agencia Nacional de Hidrocarburos Bathymetry 2000 m TAYRONA BLOCK

12 Agencia Nacional de Hidrocarburos Caribbean Offshore Basin PETROLEUM POTENTIAL: è Source Rock: Upper Cretaceous & Oligocene age. Proven by Gas production, shows and seafloor samples (oil). è Reservoir Rocks: Tertiary Sands of Cratonic (non-volcanic) origin delivered by major rivers. è Seals: Thick Upper Oligocene & Middle Miocene shaly units. è Play Types: Structures associated to oblique subduction. Accretionary prism with thrust and transform faults. GENERAL ISSUES: è Water Depth: From shore to 2,000 meters. è Transport Facilities: There is an oil shipping port and two gas pipeline systems

13 Agencia Nacional de Hidrocarburos Gas Fields & Shows in Wells and Piston Cores

14 Agencia Nacional de Hidrocarburos Piston core locations

15 Agencia Nacional de Hidrocarburos Piston Core Data 50 Km Modified from Amoco, 1998

16 Agencia Nacional de Hidrocarburos Petroleum System RESERVOIR SEAL SOURCE ROCK LITHOLOGY AGE FM Th

17 Agencia Nacional de Hidrocarburos Colombia Caribbean Cretaceous Source Rocks Oil-prone Cretaceous source rocks (2 – 14 % TOC, average 5.6%). Type II, Hydrogen Index between 39 and 1164 mg/g, abundant oil seeps in the San Jacinto Foldbelt Oil-prone Cretaceous source rocks (2 – 15 % TOC) on Caribbean oceanic crust in Costa Rica 700 km of the Cretaceous Caribbean Plate has underthrusted the NW Colombia accretionary prism, potentially yielding a significant hydrocarbon charge

18 Agencia Nacional de Hidrocarburos Colombia Caribbean Oligocene Source Rocks 2-3% TOC in the Onshore Sinu Foldbelt and Plato/San Jorge Basins (oil & gas-prone) Live oil found in piston cores was typed like Oligocene (BP 1993 & Texaco 1999) The seabed coring data indicates biogenic and thermogenic gas presence Biogenic gas originated from upper Oligocene, Miocene and Pliocene source rocks (Northeast Fields)

19 Agencia Nacional de Hidrocarburos Quartz Sand (75% Qz), fine to medium grained sandstones and some conglomeratic sandstones Porosity between 5% to 15%, average 12%; good permeability; medium to well sorted. Turbidites, channels and submarine fans of considerable extension. Oligocene outcrops with thickness of 1200 feet of sandstones Oligocene Reservoirs (Sinu Fold Belt)

20 Agencia Nacional de Hidrocarburos Tectonic Framework-Upper Miocene/Pliocene From Tectonic Analysis, 1998 Fluvial sedimentation

21 Agencia Nacional de Hidrocarburos Structural Model Accretionary Prism – Line BP-SC Pleistocene Pliocene Miocene Oligocene Middle Eocene Cretaceous Oceanic Basement Top of Oil Window Top of Gas Window 105 km NWSE

22 Agencia Nacional de Hidrocarburos Line BP-SC NWSE

23 Agencia Nacional de Hidrocarburos Line SAC-99-F13 Vertical Exaggeration ~ 2X 4 sec 6 sec 2000 m NW SE 2 sec Toe of Prism Gas Chimney

24 Agencia Nacional de Hidrocarburos Line SAC-99-G23 4 sec 6 sec 2 sec 6 Km

25 Agencia Nacional de Hidrocarburos South Caribbean Potential Leads

26 Agencia Nacional de Hidrocarburos Offshore Colombia-Play Fairways 1.Oligocene - Miocene Ss involved in fault related anticlines 2.Slope fans Ss in low amplitude folds 3.Pliocene - Pleistocene deltaic Ss with biogenic gas 4.Oligocene - Miocene delta/fans and pull-apart basins 5.Oligocene - Miocene Ss at horst block on strike-slip faulting 6.Miocene - Pliocene Ss in low/moderate amplitude anticlines 7.Oligocene - Miocene Ss at roll- over anticlines. Upper Miocene shoreface Ss stratigraphic traps

27 Agencia Nacional de Hidrocarburos Major Pipelines Caribbean Sea Venezuela Caucasia Vasconia La Belleza Miraflores El Porvenir OCENSA Pipeline Installed Capacity : 600,000 BOD Cusiana-Cupiagua Coveñas Orú Toledo Samoré Banadia Ayacucho Caño Limón - Coveñas Installed Capacity : 250,000 BOD Caño Limón Gasoducts Oleoducts

28 Agencia Nacional de Hidrocarburos Conclusions (i) Government highly interested in promoting upstream activity New flexible contract Large offshore acreage with high potential Available pipeline infrastructure with spare capacity Proximity to the Central and North American markets. Accessibility from / to Caribbean ports

29 Agencia Nacional de Hidrocarburos Oil & Gas prone basin Proven gas producing basin, with untapped oil potential Many positive hydrocarbon indicators Large regional structures Tertiary prospectivity Optimal petroleum system Multiclient 2D Seismic currently being acquired (3800 Km, Offshore Caribbean, rec. length 18 sec) Conclusions (ii)

30 Agencia Nacional de Hidrocarburos Increasing exploration activity in the area Free geological information Conclusions (iii)