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The Suriname-Guyana Basin: The Next Giant

Suriname 2013 International Bidding Round

Suriname

About Us

‐Humid tropical climate

‐Paramaribo on UNESCO World Heritage (2002)

‐531,000 people, ethnically diverse

‐Life Expectancy 71 years

‐Language Dutch, but English widely spoken

‐Celebrate Holidays like Christmas, Divali, Eid‐ul‐

Fitr

Economy

–World’s 17th richest country (natural

resources)

–GDP per capita (US$) 7,381 (2011 IMF est.)

–Real GDP growth (09‐12) 3.5%‐4.9% (IMF)

–Adult literacy 90%

–CO2 emissions 4.7348 mtpc (World Bank 2008)

–Country rating BB‐ (S&P)

Overview Staatsolie

History

Founded in 1980

Shareholder: Republic of Suriname

Functions Commercial Entity:

Independent, vertically integrated Oil Company Regulator:

Policy, promotion, contracting and supervision of petroleum activities

Core Activities Exploration 180,000km2 Crude production 16,000 bopd Refining 7,200 bpsd Marketing (bunkering) 720,000 bbls/year Thermal Power Generation 28MW

1 2 3 4 6 7

13 14 1536

4443

32

46

35

5

Demerara Plateau

50

5137

Block 47

Block 42

Block 45

Block 48

Block 31

52

53

Paramaribo

Nickerie Block Coronie Block

Cal

cutta

Blo

ck

Tam

bare

djo

Blo

ck

Uitk

ijk B

lock

Weg

naa

r Ze

e B

lock

Commewijne Block

Inpex

Kosmos Energy

Tullow Oil

Kosmos Energy

Murphy Oil

Fren

ch G

uiana

-Bra

zil M

aritim

e Bor

der

Surin

ame-

Fren

ch G

uian

a M

aritim

e Bo

rder

Surin

ame-

Guy

ana

Mar

itime

Bord

er

EXXON ( 75%)SHELL ( 25%)

CGX ( 100%)

TULLOW ( 30%)

Georgetown Concession

REPSOL ( 45%)

CGX ( 25%)

Stabroek Concession

Corentyne Annex

CGX (100%)Corentyne Concession

GuyanaSuriname French Guiana

Guyana

Brazil

Tullow 27.5%Shell 45%Total 25%North Pet Investments 2.5%

Tambaredjo Oil FieldCalcutta Oil Field

5°0'0" N5°0'0" N

5°30'0" N5°30'0" N

6°0'0" N6°0'0" N

6°30'0" N6°30'0" N

7°0'0" N7°0'0" N

7°30'0" N7°30'0" N

8°0'0" N8°0'0" N

8°30'0" N8°30'0" N

9°0'0" N9°0'0" N

58°0'0" W

58°0'0" W

57°30'0" W

57°30'0" W

57°0'0" W

57°0'0" W

56°30'0" W

56°30'0" W

56°0'0" W

56°0'0" W

55°30'0" W

55°30'0" W

55°0'0" W

55°0'0" W

54°30'0" W

54°30'0" W

54°0'0" W

54°0'0" W

53°30'0" W

53°30'0" W

53°0'0" W

53°0'0" W

52°30'0" W

52°30'0" W

52°0'0" W

52°0'0" W

51°30'0" W

51°30'0" W

51°0'0" W

51°0'0" W

Onshore oil Fields STOIIP 700 million barrels. Production 16,000 BOPD

Exploration & Production Blocks

July 2012

Legend:

Open Blocks Blocks under contract Staatsolie Operated Blocks

Staatsolie Oil fields

1 2 3 4 6 7

13 14 1536

4443

32

46

35

5

Demerara Plateau

50

5137

Block 47

Block 42

Block 45

Block 48

Block 31

52

53

Paramaribo

Nickerie Block Coronie Block

Cal

cutta

Blo

ck

Tam

bare

djo

Blo

ck

Uitk

ijk B

lock

Weg

naa

r Ze

e B

lock

Commewijne Block

Inpex

Kosmos Energy

Tullow Oil

Kosmos Energy

Murphy Oil

Fren

ch G

uiana

-Bra

zil M

aritim

e Bor

der

Surin

ame-

Fren

ch G

uian

a M

aritim

e Bo

rder

Surin

ame-

Guy

ana

Mar

itime

Bord

er

EXXON ( 75%)SHELL ( 25%)

CGX ( 100%)

TULLOW ( 30%)

Georgetown Concession

REPSOL ( 45%)

CGX ( 25%)

Stabroek Concession

Corentyne Annex

CGX (100%)Corentyne Concession

GuyanaSuriname French Guiana

Guyana

Brazil

Tullow 27.5%Shell 45%Total 25%North Pet Investments 2.5%

Tambaredjo Oil FieldCalcutta Oil Field

5°0'0" N5°0'0" N

5°30'0" N5°30'0" N

6°0'0" N6°0'0" N

6°30'0" N6°30'0" N

7°0'0" N7°0'0" N

7°30'0" N7°30'0" N

8°0'0" N8°0'0" N

8°30'0" N8°30'0" N

9°0'0" N9°0'0" N

58°0'0" W

58°0'0" W

57°30'0" W

57°30'0" W

57°0'0" W

57°0'0" W

56°30'0" W

56°30'0" W

56°0'0" W

56°0'0" W

55°30'0" W

55°30'0" W

55°0'0" W

55°0'0" W

54°30'0" W

54°30'0" W

54°0'0" W

54°0'0" W

53°30'0" W

53°30'0" W

53°0'0" W

53°0'0" W

52°30'0" W

52°30'0" W

52°0'0" W

52°0'0" W

51°30'0" W

51°30'0" W

51°0'0" W

51°0'0" W

Legend:

Open Blocks Blocks under contract Staatsolie Operated Blocks

Staatsolie Oil fields

July 2012

Focus: Demerara Plateau

Guinea Plateau and Demerara Plateau Jubilee-play across the Atlantic ??

Guinea Fracture Zone

NESW

2000

2500

3000

3500

4000

4500

5000

5500

6000

Mid-Miocene Unc.

Neocomian

Barremian

U. Cret.

REGIONAL CROSS-SECTION OVER DEMERARA PLATEAU 3

“Not So Passive” (AAPG 2009)

S N

• Jubilee Field offshore Ghana

• Venus well offshore Sierra Leone

Equatorial Atlantic Play Fairway

Zaedyus Well Fr. Guyana

Acquisition: December 2011 Available: Q4 2012

5,000km 2D BroadSeis ®

Jurassic

Miocene Base Tertiary

Miocene

Early Cretaceous

Late Cretaceous Albian Unconformity

Line Example

Bidding Round 2013 Offshore Block Map

1073 km

938 km

1018 km

1350 km

5704 km2

7765 km2

5527 km2

8824 km2

Block Size & Seismic Data

Top Jurassic Isochrone Map (TWT)

Closure Drilled by A2-1

Near Top Jurassic

Near Base Tertiary Albian Unconformity

180km

Truncations below Albian unconformity

Anticlinal structures from Early Albian compression

Fault blocks from Late Albian extension

Gravitational Fault blocks Demerara Western Flank

Plays Demerara High

Database Q.3 2012

Timeline

Schedule of Events Suriname International Bidding Round 2013

Data Acquisition Q4 2011 Finish Data Processing Q3 2012

Data Package 2012 available Q4 2012Announcing 2013 Bidding Round Q1 2013Closing 2013 Bidding round Q3 2013Block awarding Q4 2013

Visit Us at booth # 629

Contact: Staatsolie Maatschappij Suriname N.V.

Attn: Manager Petroleum Contracts Mrs. M. Daal‐Vogelland

Email:madaal@staatsolie.com Web site: www.staatsolie.com/pio