Agencia Nacional de Hidrocarburos Subdirección Técnica Colombian Hydrocarbon Opportunities

1. Agencia Nacional de HidrocarburosSubdirección TécnicaColombian Hydrocarbon Opportunities Libertad y Orden November 2004 Agencia Nacional de Hidrocarburos

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

3. 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 Agencia Nacional de Hidrocarburos

4. Geographical Advantages Panama Canal Pacific Ocean Agencia Nacional de Hidrocarburos

5. Colombian Sedimentary Basins Agencia Nacional de Hidrocarburos

6. Land Map Agencia Nacional de Hidrocarburos

7. Caribbean Basin Agencia Nacional de Hidrocarburos

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

9. Seismic Programs20.000 km approx. Agencia Nacional de Hidrocarburos

10. Caribbean Sea Exploratory Wells Agencia Nacional de Hidrocarburos

11. TAYRONA BLOCK 2000 m Bathymetry Agencia Nacional de Hidrocarburos

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

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

14. Piston core locations Agencia Nacional de Hidrocarburos

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

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

17. Colombia CaribbeanCretaceous 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 Agencia Nacional de Hidrocarburos

18. Colombia CaribbeanOligocene 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) Agencia Nacional de Hidrocarburos

19. Oligocene Reservoirs (Sinu Fold Belt) • 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 Agencia Nacional de Hidrocarburos

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

21. Accretionary Prism – Line BP-SC-93-22 NW SE 105 km Pleistocene Pliocene Miocene Oligocene Middle Eocene Cretaceous Oceanic Basement Top of Oil Window Top of Gas Window Structural Model Agencia Nacional de Hidrocarburos

22. Line BP-SC-93-22 NW SE Agencia Nacional de Hidrocarburos

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

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

25. South Caribbean Potential Leads Agencia Nacional de Hidrocarburos

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

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

28. 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 Agencia Nacional de Hidrocarburos

29. Conclusions (ii) • 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) Agencia Nacional de Hidrocarburos

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