CC E NERGY D EVELOPMENT B LOCKS 3 & 4 D EVELOPMENT O MAN E CONOMIC F ORUM A PRIL 23 RD 2012

FARHA SOUTH FIELD SAIWAN EAST FIELD 2 Block 3 Block 4

B LOCKS 3 & 4 H ISTORY EPSA FOR B LOCKS 3 & 4 SIGNED ON F EBRUARY 9, 2003 BY E NCANA. CCED TOOK OVER 50% OF THE ASSET FROM E N C ANA IN N OVEMBER E XPLORATION COMMENCED IN

BLOCK 3 BLOCK Km BLOCK 51 BLOCK 42 BLOCK 6 BLOCK

CCED A CHIEVEMENTS 1.B UILT E ARLY P RODUCTION F ACILITIES TO PRODUCE OIL WITHIN 5 MONTHS AFTER THE GREEN LIGHT FROM MOG. 2.P REPARED AND SUBMITTED THE F IELD D EVELOPMENT P LAN TO MOG. 3.I DENTIFIED FURTHER EXPLORATION OPPORTUNITIES AND INITIATED A PLAN TO EXPLORE 5

E ARLY / P ERMANENT P RODUCTION F ACILITIES 6

7 D RILLING P ROGRAM N OTE : 24 WELLS WERE SUCCESSFUL OUT OF 30 DRILLED E XPLORATION /A PPRAISAL /D EVELOPMENT PRODUCERS WELLS - 80% SUCCESS W ELLS D RILL AS OF F EBRUARY 2012F URTHER W ELLS TO BE D RILLED P RODUCER I NJECTOR W ATER S OURCE D RYHOLE P RODUCER I NJECTOR W ATER S OURCE B LOCK B LOCK T OTAL

P RODUCTION F IGURES 8

9  O VER 7,000,000 KM DRIVEN ( CRUDE HAULAGE ) WITH ONLY ONE RTA.  O PERATION STARTED WITH FOUR (4) TANKERS AND INCREASED TO THIRTY ONE (31).  H IGHEST DAILY VOLUME TRANSPORTED ; 14,498 BARRELS.  H IGHEST DAILY NUMBER OF TANKERS OFFLOADED IN A LAM IS 63.  H IGHEST MONTHLY VOLUME TRANSPORTED ; M ARCH 2012 MTD 377,947 BARRELS.  H IGHEST MONTHLY KM DRIVEN F EBRUARY 2012 MTD 542,174 KM. C RUDE O IL T RUCKING O PERATION 9 9

10 P ERMANENT P RODUCTION F ACILITIES

11 P ERMANENT P RODUCTION F ACILITIES

W HY CCED IS A S UCCESS 1.T EAM W ORK 2.T EAM E MPOWERMENT 3.L EADERSHIP 4.S KILLED P EOPLE 5.P LANNING, P LANNING, P LANNING 6.C OMMUNICATION 7.R ELATIONSHIP 8.S IMULTANEOUS A PPRAISAL AND D EVELOPMENT 12

H EADCOUNT

O MANIZATION P LAN Y EAR P ERCENT (%) 14

E MPLOYEE T OTALS Description Number of Employees as of 21 st April 2012 O MANI N ATIONALS CURRENTLY WORKING IN CCED 141 (52 Muscat + 89 Field) E XPATS CURRENTLY WORKING IN CCED 67 O MANIZATION % 68% O MANI N ATIONALS TO BE R ECRUITED Operators & Technicians E XPATS TO BE R ECRUITED IN Managers/Technical 15

16 B LOCKS 3 & 4 I NVESTMENT  I NVESTMENT 2010 – 2012: O VER $ 300 M ILLION USD  P LANNED I NVESTMENT 2013 – 2017: O VER $ 500 M ILLION USD

E NHANCED O IL R ECOVERY 1.P RIMARY 2.W ATER I NJECTION AS S ECONDARY R ECOVERY – P ILOT STARTED. 3.C HEMICAL, S URFACTANT OR M ICROBIAL AS T ERTIARY R ECOVERY 17

E NHANCED O IL R ECOVERY 4.V AST E XTRA H EAVY O IL R ESERVES WHICH R EQUIRES THE U TILIZATION OF T HERMAL R ECOVERY M ETHODS. 18

TOTAL NEW FIELD EXPLORATION IN THE WORLD $120 $100 $80 $60 $40 $20 $0 $/BARREL IN 2007 USD 70,000 60,000 50,000 40,000 30,000 0 NUMBER OF NEW FIELD WILDCATS DRILLED IN THE WORLD $140 20,000 10,000 Data Source – IHS MAJOR INDEPENDENT NOCs OIL PRICE % 8% 24,623 17% % 8% 36,062 17% % 6% 63,935 10% % 6% 61,943 10% % 6% 35,954 7% % 10% 22,299 14% 19