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Deepwater Oil and Gas Malaysia

Bergen

24 April 2007


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Contents

1. PETRONAS What it is

2. Activities & Opportunities in Deepwater Oil & Gas Malaysia

3. Planned events during 2007

4. Business Culture


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PETRONAS National Oil Company

100% government owned

Holds exclusive ownership and control over

all petroleum resources in Malaysia

Regulates E & P activities through ProductionSharing Contract. To date 62 PSCs awarded.

All companies providing services/ products

in upstream sector need to be licenced by PETRONAS


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PETRONAS International oil company

A fully integrated & International oil company with more than 63

international ventures in 33 countries

Involves in upstream sector in 24 countries with recoverable

reserves of 5.94 BBOE

Ranked as one of Fortune 500 largest corporations & recorded a

profit of USD11.566 billion as at 31/03/06 on turnover of

USD44.282 billion


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Deepwater areas

Major Deepwater Opportunities in SEA

Indonesia: Major natural gas

discoveries in the deepwater KuteiBasin, deepwater exploration in

the Tarakan and Papalang Basin

Thailand: Severalsignificant offshore

discoveries in the Gulf

of Thailand recently

India: Active E&P activity,70% of offshore acreage is

deepwater

Vietnam: Considerable

deepwater potential

Malaysia: Offshore Sabah

is the regions exploration

hot spot, 20 PSCs in

deepwater & 16

discoveries


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71 Exploration Blocks 44 awarded and 27 still open

22 Deepwater/ Ultra DW blocks 20 awarded to 8 PSC contractors

146 oil & 195 gas fields discovered only 53 oil & 23 gas fields

producing

Oil reserves incl. condensate 5.25 bb and gas 87.95 tscf, Jan 2006

Exploration acreages 565,500 km2


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Source: Petronas

Malaysia has 5.25 billion barrels of oil reserves and87.95 trillion cubic ft of gas reserves

Deepwate

gas

4%

Shefal gas

96%

Shelfal oil

74%

Deepwater oi

26%

5.25 billion barrels of oil andcondensate

87.95 trillion cubic feet of gas


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Shelfal Oil,

35%

Deepwater

Oil, 65%

Deepwater

Gas, 43%

Shelfal Gas,

57%

Deepwater/Ultra Deepwater to contribute major portionof undiscovered resources 10 billion boe

Source: Petronas


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Positive results in Malaysia deepwater the past years

1993 1994 1995 1998 2002 2003 2004 2005

Malaysia asDeepwaterRegional

Hub

DeepwaterPSC

Introduced

KebabanganGas

Discovered

FirstDeepwaterExploration

Well (1170m)

Kamunsu East(Gas)

Discovery

Kikeh OilDiscovery

Limbayong GasDiscovery

Gumusut/KakapOil Discovery

Ubah, Pisanganand Jangas Oil &Gas Discoveries

Kikeh FDP ApprovedFirst SPAR in Malaysia

First GAP Application inthe World

Malikai Oil Discovery

First SBL Application inMalikai

Source: Petronas


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Deepwater/ Ultra Deepwater Discoveries

Field name Recoverable Water Depth OnstreamDate Operator

Kikeh 536 mmboe 1,300 m Q2/Q3 2007 Murphy Oil

Gumusut/Kakap

620 mmboe 1,100 m Q4 2010/

Q1 2011

Shell

Malikai 108 mmboe 480 m Q2 2011 Shell

Kebabangan 2.2 tscf > 200 m Q3 2011 ConocoPhillips

Jangas 81 mmboe >1000 m Q4 2011 Murphy Oil

Ubah Crest 215 mmboe >1000 m Q2 2012 Shell

Pisangan 56 mmboe >1000 m Q3 2012 Shell

Kamunsu 2.2 tscf >1000 m Q2 2013 Shell


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Fast Track Implementation of Deepwater Projects

Kikeh

Gumusut/Kakap

Malikai

Kebabangan

Jangas

Ubah Crest

Pisangan

Kamunsu

2007 2008 2009 2010 2011 2012 2013

ExplorationStrategy

Exploration

Appraisal & ReservoirEvaluation

Field Development Studies

Preliminary Engineering

Project Implementation

Indicativefirst oil

Legend


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43 Deepwater Exploration Wells Planned 2007-2010

10 1011 11 11

0

5

10

15

2006 2007 2008 2009 2010


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Malaysia: Total expenditure: USD35,683 millionExpenditure Breakdown 2007-2010

430

113

6,299

972

2,953

656

289

83

915,868

10,053

8,558

2,110

438

- 2,000 4,000 6,000 8,000 10,000 12,

US$ million

Seismic Data Acquisition

Reservoir Management

Offshore Drilling

Subsea Technologies and Equipment

Fixed Platforms

Floating Platforms

Platform Design & Project Management

E, I & T

Marine Systems & Equipment

Maintenance

Modifications

Operations

Downhole & Well Services

Decommissioning

Source: Infield/INTSOK


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Malaysia is looking for companies to establishstrong bases in Malaysia

Key Areas Key ActivitiesDevelopment Concept FEED & Feasibility Studies

Support Structure Engineering

Topside Design

Hull Design Dry Tree units (DTU)

Hull Design Floating Vessels/Wet TreeUnits

Support Structure Fabrication Fabrication Topside & Hull

Design, Engineering &Manufacturing

Flowline & Risers

Umbilical/Fluid Transfer Lines (FTL)

Subsea Modules

Installation Pipeline installation

Source: Petronas


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Other Areas of Opportunities/ challenges

Strategic alliance with Petronas capacity building

Small or marginal fields Development

Brown Fields development

High CO2 content

Enhanced Oil Recovery in matured fields

Demand for rigs/ semi-sub

Marine vessels


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Norwegian companies in O&G sector
http://www.smedvig.no/http://www.clampon.com/index.cfmhttp://www.internettkatalogen.no/firmadetaljer/safetec%20nordic%20as.735858http://www.songaoffshore.no/index.phphttp://www.kongsberg.com/http://www.geolabnor.no/http://www.readgroup.com/http://www.grenlandgroup.com/


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Planned Events 2007

Jan: Resource Management by Petronas/Petrad

June 6-7: Pipeline Integrity workshop by Petronas/Intsok/

Petrad

June 13-15: Norwegian Pavilion at Oil & Gas Asia Exhibition

June 25-29: PETRONAS Delegation to Norway by IN KL/Intsok

Nov 26-28: Deepwater Technology workshop by Petronas/

Intsok/ Petrad


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Malaysia: Business Culture

Multi-racial & multi-cultural society - 3 major distinct

races. Advantage to differentiate races for business andsocial reasons

Personal relations are important for business. Buildingtrust takes time

Consciousness in social hierarchy

Reflected in hierarchical structures of Malaysian companies

Honorific Titles- Datuk, Dato, Datuk Seri, Tan Sri & Tun.

Importance of Designation

Face Value has a lot of significance in workplace andbusiness relations. Once a person loses face, he/she maywithdraw from the interactions of business negotiationaltogether.
http://caingram.info/Visitors_pix/Pic_htm/malaysian_girls.htm


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Malaysia: Business Culture

Respect for elders by the way onespeaks, addresses or behavestowards ones elder.

Managers or leaders areconsidered elders and wise.

Decisions of leaders hardlychallenged.

Understand the Decision MakingProcess of the organization youare dealing with crucial for

business success
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