1. for hydrocarbons 1

2. Contents Colombia Institutional Framework Industry background
Open Round Colombia 2010
Conclusions 1

3. Contents Colombia Institutional Framework Industry background
Open Round Colombia 2010
Conclusions 1

4. Colombia in South America:
Oldest democracy
2nd population : 45 million
3rd crude producer: 759,000 b/d
3rd economy : GDP: US$395 billion (2008)
3rd recipient of FDI : US$10.6 billion (2008)
in oil & gas : US$ 3.4 billion (2008)
4th Land surface area: 1.2 million Km2

5. FDI flows in South America
Source: UNCTAD

6. FDI by economic activity (2008)
Source: Banco de la República

7. Historic FDI in oil & gas
Investment in hydrocarbons
Historic FDI in oil & gas
*E = estimated
Source: Banco de la República

8. Contents Colombia Institutional Framework Industry background
Open Round Colombia 2010
Conclusions 1

9. Institutional framework - since 2003
Policy-making and control
Administration and promotion of the hydrocarbons resources
Explores, produces, refines, transports and markets
Ministry of Mines and Energy

10. Strategic framework The ANH is the agency responsible for promoting
Mission
The ANH is the agency responsible for promoting
the optimal and sustainable exploitation
of the country’s hydrocarbons resources;
through an integrated administration approach,
seeking a balance between the interests of
the State, Colombian society and industry
Vision
The ANH shall be recognized globally as a model government institution by:
its knowledge of the Colombian geological potential and the optimization of its exploitation;
its efficient and transparent administration of the hydrocarbon resource and coordinated work with both industry and community; and
its professional staff, its high technological level and the agility of its process

11. Contents Colombia Institutional Framework Industry background
Open Round Colombia 2010
Conclusions 1

12. Proved reserves (Billion barrels)
Oil in South America
Proved reserves (Billion barrels)
Venezuela
Production
Colombia *E
99,4
2,5
(2%)
Ecuador
3,8
Brazil
12,6
(*)
2,6
Argentina
(12%)
Growing
(*) Production as of February 2010
Falling
*E = reserves estimated
Sources: BP Statistical Review 2009; ANH Analysis

13. Proved reserves (Tera cubic feet)
Gas in South America
Proved reserves (Tera cubic feet)
Trinidad & Tobago
17,0
Production
Venezuela
Colombia *E
170,9
(2%)
4,1
Bolivia
Brazil
(*)
11,7
(7%)
Argentina
15,5
Growing
(*) Production as of January 2010
Falling
*E = reserves estimated
Sources: BP Statistical Review 2009; ANH Analysis

14. Increase Oil & Gas proven reserves
* E = estimated

15. Average annual production Average monthly production
Growing oil & gas production
Average annual production
Average monthly production
(last 12 months)
Oil
Gas
Oil
Gas
1138
759
2009
2010

16. Exploration activity has increased considerably
Million (Ha)
Open Round
TEA
E&P
Production

17. Licensing activity continues to increase and seismic data acquisition activity is high …
(80)
(230)
* TEA: Technical Evaluation Agreement

18. … the highest number of exploratory wells and high success rates …
Plan: 107
56%
78%

19. Contents Colombia Institutional Framework Industry background
Open Round Colombia 2010
Conclusions 1

20. Location of areas Number of Blocks Area (Ha) 6.055.158 141 8.459.04631 56
Total
228
Historic activity
Number of Wells
Seismic
(Km)
Type 1 E&P Miniround
269
33.174
Type 2 E&P New prospective basins
147
24.041
Type 3 Special TEAS* 50
11.225
Total
465
67.882
*TEA: Technical Evaluation Agreement

21. Key Milestones Preliminary terms of reference 15th October, 2009
Final terms of reference
16th February, 2010
Pre qualification documents
16th February - 30th April, 2010
Pre qualification list
21st May, 2010
Bidding
22nd June, 2010 1

22. Contents Colombia Institutional Framework Industry background
Open Round Colombia 2010
Conclusions 1

23. Colombia offers good business opportunities
A prolific geology
A good business environment
An appropriate institutional framework
A competitive and fair contract
Competitive rounds
Stability remains in the sector 1

24. Book in your agendas Cartagena, 22 - 25 June , 2010
IV Colombia Oil and Gas Investment Conference 1

25.
Thank you! 1