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GAS

GAS

Natural Gas Opportunities

V E N E Z U E L A
The Energy Council Anaco, June 2000

GAS

Content

Venezuelas Natural Gas Industry Master Plan Business Portfolio

The Energy Council

Anaco, June 2000

GAS

Worldwide Natural Gas Proven Reserves (TCF)


Russia Iran Qatar U.A.E Saudi Arabia USA

1977 742 250 205 186 164 146 128 110 110

VENEZUELA
Algeria Nigeria Irak

The Energy Council

Anaco, June 2000

GAS

Latin America Natural Gas Proven Reserves Non Associated Gas


VENEZUELA
MEXICO ARGENTINA TRINIDAD & TOBAGO BRASIL COLOMBIA BOLIVIA ECUADOR
8.0 6.9 4.3 3.7 24.1 18.3 14 63.5

(TCF) 146

0
The Energy Council

15

30

45

60

75

90

105 120 135 150


Anaco, June 2000

GAS

Gas Resources (TCF)

Proved Associated Non-associated Total 132 14 146

Probable 32 7 39

Possible 32 11 43

The Energy Council

Anaco, June 2000

GAS

Gas Transmission Systems


Maracaibo

Paraguana Valencia Caracas Jose Pto. La Cruz

Barquisimeto Altagracia

1 3

Anaco

2
Pto. Ordaz

Existing Gaslines

The Energy Council

Anaco, June 2000

GAS

Production / Consumption (%)


Oil Industry
Crude Secondary Recovery

(%)
32
Power Gen.

46

70 %
32 10 12

30%

Domestic Market

21 21

Petrochemical

Fuel NGLTransf. Others

Steel/Alum Cement Others

Residential

6 5 15

Oil Industry 4.2 BCFD

Domestic Market 1.8 BCFD

Total = 6 BCFD
The Energy Council Anaco, June 2000 2000 February

GAS

Venezuelan Market Forecast (1999 - 2009)


2.000

BOED x 103

Energy Matrix
1130
(42 %) (26 %) (32 %)
2000 2001 2002

1800
(55 %)

1.600 1.200 800 400 0

Natural Gas Liquids Hydroelectric power


2003 2004 2005 2006 2007

(17 %) (28 %)
2008 2009

1999

6 5

Natural Gas
1.8

4.2
MANUFACTURE STEEL / ALUMINUM PETROCHEMICAL POWER GENERATION

BCFD

4 3 2 1 0
1998 2000 2002

2004

2006

2009
Anaco, June 2000

The Energy Council

GAS

NGL Plants
Bajo Grande TJs I/ II Lama Ul Jusepn Sta Brbara San Joaqun Jose

Existing Infrastructure

Capacity:

232 MBD

The Energy Council

Anaco, June 2000

GAS

Legal Framework

Gas Law
Private participation in non associated gas E&P

and gas downstream activities 20% royalty Creation of a National Gas Regulatory Board

Income Tax Law


Income tax rate reduced from 67% to 34% Tax credit on new investments (10%)

Price
Commodity

.... Reasonable profitability

Gas Price = Price


The Energy Council

+ Tariff

Transportation

+ Tariff

Distribution
Anaco, June 2000

GAS

New Gas Law : Breaking a monopoly


Exploration Exploitation Production Field End users Distribution Hub Industrialization Gathering Processing Methane Gas NGLs Distribution Not included in New Gas Law Scope
Anaco, June 2000

Compression Treatment Nonassociated Natural Gas

Transmission Export

Compression Treatment Exploration Exploitation Associated Natural Gas


The Energy Council

GAS

Venezuelan Strengths Vast resources Strong support from local suppliers Long history of oil and gas production Convenient geographic location

The Energy Council

Excellent opportunity to Excellent opportunity to support major gas support major gas developments developments

Anaco, June 2000

GAS

Gas Development Master Plan

Guidelines from Stakeholder


Develop non-associated gas Develop gas markets for the industrialization of the country Maximize domestic value added Foster private capital participation Improve strategic position in the international market

Business Area

The Energy Council

Anaco, June 2000

GAS

Gas Development Master Plan

Guidelines from Stakeholder


Develop non-associated gas Develop gas markets for the industrialization of the country Maximize domestic value added Foster private capital participation Improve strategic position in the international market

Business Area

Gas Offer

The Energy Council

Anaco, June 2000

GAS

E&P Strategy
Volume Demand
Domestic market Oil industry Export

Supply

PDVSA own effort (Associated Gas)

Time

yOpportunity

in potential demand yNeed to add flexibility to the supply system


The Energy Council

E&P Licenses for Non Associated Gas

Anaco, June 2000

GAS

Gas Development Master Plan

Guidelines
Develop non-associated gas Develop gas markets for the industrialization of the country Maximize domestic value added Foster private capital participation Improve strategic position in the international market

Business Area

Gas Supply NGL Transportation Distribution

The Energy Council

Anaco, June 2000

GAS

Gas Development Master Plan

Guidelines
Develop non-associated gas Develop gas markets for the industrialization of the country Maximize domestic value added Foster private capital participation Improve strategic position in the international market

Business Area

Gas Supply NGL Transportation Distribution

The Energy Council

Anaco, June 2000

GAS

Gas Development Master Plan

Guidelines
Develop non-associated gas Develop gas markets for the industrialization of the country Maximize domestic value added Foster private capital participation Improve strategic position in the international market

Business Area

Gas Supply NGL Transportation Distribution Exports

The Energy Council

Anaco, June 2000

GAS

Natural Gas Strategic Guidelines Gas Offer


Maintain own production of associated natural gas and development non associated gas with the participation of the private sector Transfer transmission and distribution systems to the private sector, maintaining selective participation of PDVSA

Methane Gas

NGL

Retain existing processing plants. Promote alliances with private sector for future developments

New Businesses
The Energy Council

Promote gas export through associations (LNG - GTL - Gaslines)

strategic

Anaco, June 2000

GAS

Coro Maracaibo North Ambrosio

OFFSHORE Integrated Projects Northern Paria Large Size Projects Exports and Domestic Markets-Industrialization Caracas

E&P Opportunities

Delta

Yucal-Placer
Central Foothill Barrancas Anaco

Maturn

ONSHORE 11 areas Bidding process Definition of Terms and Conditions in Progress Formal public announcement will be done prior to the availability of the Data Packages
The Energy Council

ANACO PDVSA Own Effort

Coal Bed Methane


Anaco, June 2000

GAS

E&P Opportunities -11 Areas


$/MPC AMBROSIO
1 AREA, 527 Km2

YUCAL PLACER
2 AREAS, 900 Km2 each

1.45
MCBO BMTO
GUANARE SAN CARLOS

1.05
CARACAS

0.50
GUANARE ANACO

BARINAS

GUARICO-COJEDES BARRANCAS
1 AREA, 1970 KM2 7 AREAS, 1000 Km2 each

The Energy Council

Anaco, June 2000

GAS

Gas Transmission Opportunities


Maracaibo

Paraguana Valencia Caracas Jose Pto. La Cruz

Barquisimeto Altagracia

1 3

Anaco

2
Pto. Ordaz

Existing Gaslines

The Energy Council

Anaco, June 2000

GAS

Gas Transmission Opportunities


Maracaibo

Paraguana Valencia Caracas Jose Pto. La Cruz

Barquisimeto Altagracia

1 3

Anaco

2
Pto. Ordaz

Existing Gaslines Expansions

The Energy Council

Anaco, June 2000

GAS

Gas Transmission Opportunities


Maracaibo

Paraguana Valencia Caracas Jose Pto. La Cruz

Barquisimeto Altagracia

1 3

Anaco

2
Pto. Ordaz

Existing Gaslines

Creation of independent companies Creation of independent companies for each transmission system for each transmission system
The Energy Council Anaco, June 2000

GAS

Gas Transmission Opportunities


Maracaibo

Paraguana Valencia Caracas

Margarita

Jose Pto. La Cruz

Barquisimeto Altagracia

1 3

Anaco

2
Pto. Ordaz

Existing Gaslines Future Gaslines

Biding process for new Biding process for new transmission systems transmission systems
The Energy Council Anaco, June 2000

GAS

Gas distribution potential

Potential residential consumers

460.000
Cardn Maracaibo

> 1.000.000

Caracas Barquisimeto Valencia Pto. La Cruz

Potential Growth
Industrial distribution Residential distribution
The Energy Council

Anaco

Pto. Ordaz
Anaco, June 2000

GAS

Gas Distribution Opportunities

Regional Distribution

Conditions:
Economic Feasibility Ample Markets Economies of scale

Bidding conditions:
Private Sector Distribution Tariff Plan to increase number of users Recognized Operators Domestic Capital Usage
Anaco, June 2000

The Energy Council

GAS

NGL Opportunities
Bajo Grande TJs I/ II Lama Ul Jusepn Sta Brbara San Joaqun Jose

Existing Infrastructure New Infrastructure

Capacity: Capacity: Projected: Projected:

232 MBD 232 MBD 315 MBD 315 MBD

Keep property of existing Plants. Keep property of existing Plants. Promote alliances with third parties for future projects Promote alliances with third parties for future projects

The Energy Council

Anaco, June 2000

GAS

LNG Opportunities
Northern Paria

Jose

Paria

Delta Platform

Jose and Paria best locations based Jose and Paria best locations based on availability of resources on availability of resources

The Energy Council

Anaco, June 2000

GAS

Jose Project

Jose

Supply contract: 350 MMSCFD Supply contract: 350 MMSCFD Production: 2 MMT/Y Production: 2 MMT/Y Markets: Atlantic Basin Markets: Atlantic Basin Start Up: 2003 Start Up: 2003
The Energy Council Anaco, June 2000

GAS

Venezuela LNG Project


Northern Paria

640 MMSCFD 640 MMSCFD 4 MMT/Y 4 MMT/Y Markets: East Coast Markets: East Coast USA, Caribbean USA, Caribbean Start Up: 2005 Start Up: 2005
PDVSA

Paria

Delta Platform

Largest energy producer in Latin America & vast gas reserves The most experienced LNG players worldwide

Initial Sponsors
The Energy Council

SHELL EXXON MOBIL MITSUBISHI


Anaco, June 2000

GAS

Business Opportunities Upstream Exploration / Production-Coal Bed


Gathering

Midstream

Business Portfolio

New Transmission Systems Existing Trans. Systems Expansion

Downstream
Distribution Processing Industrialization (GTL-Petrochem) Power Generation Exports (LNG-GTL-Pipelines)
The Energy Council Anaco, June 2000

GAS

Projects Timetable
2004

2000

2001

2002

2003

Anaco Gas Development


E&P Gas Licenses
Yucal - Placer Barrancas Northern Guarico / Cojedes Northern Ambrosio

Q
v v v v
Studies
Investigation / Data gathering Preliminary Study Field Development Study

Delta Platform Coal Bed Methane Development

Bid Award

Conceptualization

Bidding process

Commercial production
Anaco, June 2000

The Energy Council

2005

Gas Supply

GAS

Projects Timetable
2004

2000

2001

2002

2003

EXISTING SYSTEMS Anaco - Jose Anaco - Barquisimeto Anaco - Pto. Ordaz Ule - Amuay NEW SYSTEMS Barbacoas - Margarita Valencia-Acarigua-Bnas. East-West Interconnect. Colombia Interconnection

Q Q Q Q Q Q Q

Bid Award

Conceptualization

Bidding Preparation

Bidding Process

Bidding Package Available


Anaco, June 2000

The Energy Council

2005

Transportation

GAS

Projects Timetable
2004 2004

2000

2001

2002

2003

Pilot Area Other Regions

Liquefaction / Transformation
Liquefaction Jose LNG Northern Paria Develop. Transform. / Industrializ. Gas To Liquid

2000

2001

2002

2003

Q
Project Development

v v

Q Agreement

Conditions

Conceptualization

Bidding Preparation

Bidding Process

Bidding Package Available


Anaco, June 2000

The Energy Council

2005

2005

Distribution

GAS

Projects Timetable
2004

2000 Q

2001

2002

2003

EXISTING TRANSP. SYSTEMS Anaco - Jose Anaco - Barquisimeto Anaco - Pto. Ordaz Ule - Amuay NEW TRANSP. SYSTEMS Barbacoas - Margarita Valencia-Acarigua-Barinas East-West Interconnection Colombia Interconnection DISTRIBUTION (Pilot Area) DISTRIBUTION (Other regions) LNG: Jose LNG: Northern Paria Development GTL

Q Q Q Q Q Q Q Q Q
Project Development

Q
Conceptualization Bidding Preparation Bidding Process Bidding Package Available
Anaco, June 2000

Bidding Award

The Energy Council

2005

Projects

GAS

Master Plan Economic Data

Investment:
Gas Production:

6 - 10 MMM$
1,100-3,000 MM$ 1,600 - 3,000 MM$ 1,000 MM$ 2,600 MM$

Transportation & Distribution: Processing: Liquefied Natural Gas (LNG):

The Energy Council

Anaco, June 2000

GAS

Gas Business Vision


LNG to Caribbean & USA
MARACAIBO CARACAS

LNG to Europe LNG to Brazil

ANACO PTO. ORDAZ

Hubs Producers Transporters Distributors Costumers


The Energy Council

NGL LNG / GTL Exports


Anaco, June 2000