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EXPLORATION & PRODUCTION OPPORTUNITIES & NEW TRENDS IN TUNISIA _____________

EXPLORATION & PRODUCTION OPPORTUNITIES & NEW TRENDS IN TUNISIA _____________. PLAN OF THE PRESENTATION I- INTRODUCTION: Location & Economic indicators II- EXPLORATION III- PRODUCTION IV- NEW EXPLORATION TRENDS – Open Blocks

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EXPLORATION & PRODUCTION OPPORTUNITIES & NEW TRENDS IN TUNISIA _____________

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  1. EXPLORATION & PRODUCTION OPPORTUNITIES & NEW TRENDS IN TUNISIA _____________

  2. PLAN OF THE PRESENTATION I- INTRODUCTION: Location & Economic indicators II- EXPLORATION III- PRODUCTION IV- NEW EXPLORATION TRENDS – Open Blocks V- LEGAL TERMS FOR EXPLORATION & DEVELOPMENT OF HC RESERVES IN TUNISIA VI- OIL AND GAS SERVICES COMPANIES

  3. TUNISIA

  4. 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

  5. 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 (2004):3380 TND • Inflation Rate (2004) : 3.8 % • Budget Deficit (2004) : 2.1 % • External Debt (2004) : 49.3 % • Debt service (2004) : 14.4 % • 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(2004) : 16.6% (Cst Price) • In 2004 the Energy account for 5 % of exports.

  6. EL JEM COLUSUEM

  7. EXPLORATION ACTIVITY STATUS – 2004

  8. EVOLUTION OF INVESTMENTS IN EXPLORATION

  9. GEOPHYSICS PROPORTION OF THE EXPLORATION INVESTMENTS During 2004 Exploration Investments Evolution • 2300 Sq Km of 3 D offshore seismic was aquired • in Gulf of Gabes (BG , MP Zarat) • 1136 Km of 2D was acquired onshore Southern Tunisia • (ENI , OMV ). • 480 sq Km 3 D onshore Seismic was acquired in the • El Borma Concession (ENI) . 2004

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

  11. 2003 NEW DISCOVERIES • HAWA #1 :HWA#1(Southern Tunisia) • ENI/PIONEER/PALADIN/ETAP • Tested 6300 B0PD of 41° API & 1000 BCPD 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 • 2004 NEW DISCOVERY Dalia -1:South Tunisia ENI/PIONEER/PALADIN/ETAP Tested 3600 BOPD of 42° API from the Upper Silurian Acacus sandstones

  14. 2005 NEW DISCOVERY • NOUR-1(NUR-1): Southern Tunisia • ENI /PIONEER/PALADIN/ETAP • During preliminary testing results to clean-up the well • 2800 BOPD & 15.6 MMCFGPD were produced from the Silurian Tanezzuft and Acacus sandstones

  15. KSAR HADDADA

  16. TUNISIAN OIL & GAS PRODUCTION Average Producing Cost (2002) : between 5 to 7 $/Bbl OIL National Production : 3.34 MMT (25.4 MMB)(2004) Main Producing Fields : El Borma, Ashtart, Adam & Didon GAS National Production : 2.45 MMTOE (2420 MNm3) (2004) Main Producing Field : Miskar Total Oil+Gas: 5.8 MMTOE(2004)

  17. UPCOMING FIELD DEVELOPMENT 2004 - 2006 • ADAM Oil & Gas Field • First Gas : 2004 • hawa OIL & gas Field • First Oil : January 2004 • Dalia OIL & gas Field • First Oil : July 2004 OUDNA • CHARGUI Gas Field • First Gas : 2nd quarter 2006 CHARGUI • HASDRUBAL Oil & Gas Field • First Oil : 2006 • POD has been submitted for approval ZARAT HASDRUBAL ADAM • ZARAT Oil & Gas Field • First Oil : 2006 HAWA • OUDNA Oil & Gas Field • First Oil : 2006

  18. FINDING COSTS

  19. MOSAIC ULYSSE

  20. NEW EXPLORATION TRENDS

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

  22. EMERGING PLAYS Silurian and Ordovician in Ghadames Basin

  23. 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

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

  25. DEEP OBJECTIVES Triassic (4000m) Ordovician (4500m) Cambrian (4600m)

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

  27. MIOCENE TURBIDITIC PLAY IN GULF OF HAMMAMET SSW NNE

  28. OPEN BLOCKS

  29. HOW TO EXPLORE IN TUNISIA

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

  31. 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 COST 3. RIGHT TO BUILD UP A DEDUCTIBLE PROVISIONUP 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

  32. 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.

  33. 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 Company (STEG) • Fiscal Regime : - Rate of Income Tax :35% - Exemptions from. certain duties and taxes such as VAT and import duties • The Parties negotiate in good faith a sale Contract that define the rights and obligations of the Parties (term, Sale Price ,quantity, technical and commercial conditions….)

  34. Investments are made freely subject of a « Declaration » Export of goods and services to oil &gas companies in foreign countries Exemption of customs taxes and VAT on imports Deduction of income originating from export from taxation basis for the first 10 years and 50% of those profits beyond that period OIL AND GAS SERVICESLaw of July 27th,2004

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