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EXPLORATION & PRODUCTION OPPORTUNITIES & NEW TRENDS IN TUNISIA _____________

NOT AN OFFICIAL UNCTAD RECORD. EXPLORATION & PRODUCTION OPPORTUNITIES & NEW TRENDS IN TUNISIA _____________ Ali M’RABET, Jomaa FRIHA, Ramzi GHENIMA & Béchir TEKAYA. TUNISIA. TUNISIA. THE ADVANTAGES OF TUNISIA. Political Stability Open & Growing Economy Very Friendly Environment

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EXPLORATION & PRODUCTION OPPORTUNITIES & NEW TRENDS IN TUNISIA _____________

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  1. NOT AN OFFICIAL UNCTAD RECORD EXPLORATION & PRODUCTION OPPORTUNITIES & NEW TRENDS IN TUNISIA _____________ Ali M’RABET, Jomaa FRIHA, Ramzi GHENIMA & Béchir TEKAYA

  2. TUNISIA

  3. TUNISIA THE ADVANTAGES OF TUNISIA • Political Stability • Open & Growing Economy • Very Friendly Environment • Challenging and Promising Petroleum Potential • New Fiscal Incentives for Oil and Gas E&P • Broad Petroleum Infrastructure

  4. ECONOMIC INDICATORS • From 1962 to 2001, the average growth rate reached 5% per year at constant prices, allowing an average annual increase in per capita income over 3% over the same period. • GDP/Capita : 2975 TND (2001 $) • Inflation Rate (2002) : 3 % • Budget Deficit (2002) : 2.4 % • External Debt (2002) : 52.2 % • Debt service (2002) : 16.1 % • Since the association and free trade agreement with the EU which come into effect on 1998, there has been a remarkable increase in Tunisian exports to the EU market (7586 MMTND in 2001). • Export Growth : 9.4% (Cst Price) • In 2001 the Energy account for 7 % of exports. ENERGY

  5. TAZARKA OTHERS BELLI OZ/HMD ASHTART EZZ DIDOND SLK EL BORMA 2003 OUED ZAR HAMMOUDA EL FRANIG BAGUEL TARFA MISKAR EL BORMA 2003 TUNISIAN OIL & GAS PRODUCTION Average Producing Cost (2002) : 5 $/Bbl OIL National Production : 3.16 MMT (2003) Main Producing Field : El Borma OZ/HMD DIDON GAS National Production : 2.29 MMTOE (2003) Main Producing Field : Miskar

  6. EVOLUTION OF INVESTMENTS IN EXPLORATION

  7. GEOPHYSICS PROPORTION OF THE EXPLORATION INVESTMENTS Exploration Investments Evolution • Seismically driven exploration • More seismic (3D), enhancement of processing • techniques • Better success ratio • Marked decrease of the finding cost : 2.2 $/bbl • (1996-2003)

  8. EVOLUTION OF ADDITIONAL RESERVES COMPARED TO PRODUCED QUANTITIES 350 MMBOE

  9. FINDING COSTS

  10. 2003 NEW DISCOVERIES • Chaâbet El Mercanti#1 :CEM#1(Southern Tunisia) • ANADARKO/PIONEER/ETAP • Tested 550 BCPD of 57° API & 3.7 MMSCFGDP • from the Lower Ordovician quartzitic sandstones • ****** • Samet El Anaguid#1:SEA#1 (Southern Tunisia) • ANADARKO/PIONEER/ETAP • Contains gas/condensate columns within the same • reservoir

  11. 2003 NEW DISCOVERIES • HAWA #1 :HWA#1(Southern Tunisia) • ENI/PIONEER/PALADIN/ETAP • Tested 6300 B0PD of 41° API & 1000 BCDP of 41° • API from the Upper Silurian Acacus sandstones • . Tested 14.5 MMSCFGPD from the Lower Silurian • Tannezuft sandstones • ***** • MAZRANE #1 :MZR#1(Southeastern Tunisia) • HBS/ETAP • . Tested 600 BOPD from the Lower Cretaeous • Meloussi sandstones

  12. 2003 NEW DISCOVERIES • Jugurtha#2 :JHA#2(Eastern Offshore Tunisia) • BG/ETAP • Tested 14.5 MMSCFGPD (with nearly 60-65% of • inerts) from the Upper Cretaceous R1 limestone • reservoirs • ****** • Cercina Sud#1:CERS#1 (Eastern Offshore Tunisia) • OMV-PEI/ETAP • Tested 850 BOPD of 29° API from the Middle • Eocene nummilitic limestones

  13. 2003 NEW DISCOVERIES • Est Beni Khalled #1 :EBK#1(Northeastern Tunisia) • EXXOIL/ETAP • Flowed oil of 52° API from the Lower • Eocene Bou Dabbous fractured limestone • ******

  14. EXPLORATION ACTIVITY STATUS – 2003 AUSTRALIA MAGHREB USA TUNISIA ASIA CANADA EUROPE

  15. UPCOMING FIELD DEVELOPMENT 2004 - 2006 • ADAM Oil & Gas Field • First Gas : 2004 • hawa OIL & gas Field • First Oil : January 2004 BARAKA OUDNA • CHARGUI Gas Field • First Gas : January 2005 CHARGUI • BARAKA Oil Field • First Oil : 2005 ZARAT HASDRUBAL • HASDRUBAL Oil & Gas Field • First Oil : 2006 ADAM • ZARAT Oil & Gas Field • First Oil : 2006 HAWA • OUDNA Oil & Gas Field • First Oil : 2006

  16. UPCOMING FIELD DEVELOPMENT 2004 - 2006 • ADAM Oil & Gas Field • First Gas : 2004 • hawa OIL & gas Field • First Oil : January 2004 BARAKA OUDNA • CHARGUI Gas Field • First Gas : January 2005 CHARGUI • BARAKA Oil Field • First Oil : 2005 ZARAT HASDRUBAL • HASDRUBAL Oil & Gas Field • First Oil : 2006 ADAM • ZARAT Oil & Gas Field • First Oil : 2006 HAWA • OUDNA Oil & Gas Field • First Oil : 2006

  17. NEW EXPLORATION TRENDS

  18. MM tpe Hypothesis of Evolution of the National Reserves PRIMARY ENERGY DEMAND/RESERVES PROJECTION MM tpe Primary Energy Demand Oil & Gas

  19. OPEN BLOCKS

  20. EMERGING PLAYS • SILURIAN ACACUS PLAY IN GHADAMES BASIN • ORDOVICIAN PLAY IN GHADAMES & CHOTT BASINS

  21. EMERGING PLAYS Silurian and Ordovician in Ghadames Basin

  22. POTENTIAL PLAYS • OLIGOCENE-MIOCENE THRUST BELT PLAY IN NORTHERN OFFSHORE TUNISIA • DEEP OBJECTIVES • Jurassic Play in Central Tunisia • Cretaceous, Jurassic & Triassic objectives in the Chotts Basin • Jurassic & Permian plays in Eastern Offshore Tunisia

  23. OLIGOCENE-MIOCENE THRUST BELT PLAY IN NORTHERN OFFSHORE TUNISIA

  24. DEEP OBJECTIVES

  25. NEW PLAY CONCEPTS • STRATIGRAPHIC TRAPS • Telemzane Arch • Gulf of Gabes and Jeffara Basins • MIOCENE TURBIDITIC SYSTEM • Gulf of Hammamet

  26. N S AHAGGAR ILLIZI / GHADAMES BASIN CHOTTS BASIN CTP MH GFZ TELEMZANE ARCH HIGH SILURIAN PERMIAN ORDOVICIAN CARBONIFEROUS SILURIAN DEVONIAN CAMBRO-ORDOVICIAN CAMBRIAN-PRECAMBRIAN GEOLOGICAL CROSS-SECTION THROUGH THE GHADAMES & CHOTTS BASINS

  27. MIOCENE TURBIDITIC PLAY IN GULF OF HAMMAMET

  28. LEGAL TERMS FOR EXPLORATION AND DEVELOPMENT OF HYDROCARBON RESERVES IN TUNISIA NEW INCENTIVES

  29. NEW INCENTIVES OF THE 1999 HYDROCARBON LAW 1. RIGHT TO USE ASSOCIATED OR NON ASSOCIATED GAS FOR POWER GENERATION 2. RIGHT TO BUILD UP A TAX DEDUCTIBLE PROVISION FOR ABADONMENT 3. RIGHT TO BUILD UP A RESERVE OF UP TO 20% OF ANNUAL PROFITS FOR FURTHER EXPLORATION ACTIVITIES 4. RIGHT TO TREAT THE CUSTOMS HANDLING FEE (R.P.D.) ON EXPORTS OF HYDROCARBONS AS A CREDIT AGAINST ANY INCOME TAX DUE

  30. GAS TERMS Priority to supply the domestic market with any Gas discovered and which is in excess of the holder’s own needs. The state guarantee priority of access to the local market to the extent of the demand.  Price for Gas sales to the local market is fixed by Decree, it’s set at 80% of the FOB price for low sulphur content fuel oil (1%). Holder will have the right to use Associated or non Associated Gas for powergeneration.

  31. POWER GENERATION REGIME •  The Holder of the Hydrocarbon Concession may be Authorized to develop non Commercial Gas for Power Generation. •  The electricity will be exclusively sold to the National Utility Compagny (STEG) • Fiscal Regime : - Rate of Income Tax :35% - Exemptions from certain duties and taxes such as VAT and import duties • The Parties negociate in good faith a sale Contract that define the rights and obligations of the Parties (term, Sale Price ,quantity, technical and commercial conditions….)

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