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CCOP CCOP- -EPPM Project 3 (P3) Metadata on Natural Resources in the EPPM Project 3 (P3) Metadata on Natural Resources in the CCOP Region CCOP Region CCOP Region CCOP Region Davao, Philippines Davao, Philippines 7- -9 October 2009 9

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SLIDE 1

CCOP CCOP-

  • EPPM Project 3 (P3) Metadata on Natural Resources in the

EPPM Project 3 (P3) Metadata on Natural Resources in the CCOP Region CCOP Region CCOP Region CCOP Region Davao, Philippines Davao, Philippines 7-

  • 9 October 2009

9 October 2009

PHILIPPINE ANNU PHILIPPINE ANNUAL REPOR AL REPORT PHILIPPINE ANNU PHILIPPINE ANNUAL REPOR AL REPORT OF OIL AND GAS A OF OIL AND GAS ACTIVITIES TIVITIES OF OIL AND GAS A OF OIL AND GAS ACTIVITIES TIVITIES

g

OF OIL AND GAS A OF OIL AND GAS ACTIVITIES TIVITIES OF OIL AND GAS A OF OIL AND GAS ACTIVITIES TIVITIES FOR 2008 FOR 2008 FOR 2008 FOR 2008

Department of Energy Department of Energy p gy p gy Novelwin Novelwin A. Santos

  • A. Santos

Shelly Grace A Santiago Shelly Grace A Santiago Shelly Grace A. Santiago Shelly Grace A. Santiago

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SLIDE 2

Outline Outline Outline Outline

Oil and Gas Exploration Activities p

Exploration Areas Production, Developm ent, and Transportation

Production Data Exploration Data Fiscal Regim e ( Contract System ) Fiscal Regim e ( Contract System ) I nvestm ent Cam paign I nvestm ent Cam paign

Privileges of the Service Contractor Data availability and accessibility A f ff Areas for offer

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SLIDE 3

Sedim entary Basins

  • f the Philippines

Exploration Areas

1. Cagayan Valley 2. Ilocos 3. West Luzon 4. Central Luzon Valley 5 Bicol Shelf 5. Bicol Shelf 6. Southeast Luzon 7. Mindoro-Cuyo Platform 8. East Palawan 9. Northwest Palawan 10 Southwest Palawan

  • 10. Southwest Palawan
  • 11. Reed Bank
  • 12. Sulu Sea
  • 13. West Masbate-Iloilo
  • 14. Visayan
  • 15. Cotabato
  • 15. Cotabato
  • 16. Agusan-Davao
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SLIDE 4

Exploration Areas EXISTING PETROLEUM EXISTING PETROLEUM SERVICE CONTRACTS SERVICE CONTRACTS

  • 34 Active Service

34 Active Service Contracts Contracts

  • 1 Active Geophysical

1 Active Geophysical Survey & Exploration Survey & Exploration Survey & Exploration Survey & Exploration Contract (GSEC) for Contract (GSEC) for conversion to SC conversion to SC co e s o to SC co e s o to SC

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SLIDE 5

OFFSHORE NW PALAW AN PRODUCTI ON

Galoc (1988) 0 4 MMBO (EPT) 0.4 MMBO (EPT) 2.3 MMBO (2008-present EPT) Malampaya (2001-present)

817 BCFG 38 MMBC

  • W. Linapacan (1992-1996)

8.5 MMBO

1.9 MMBO (EPT) (2001-2002)

Cadlao (1981-1991) ( ) 11.2 MMBO Matinloc complex (1982-present) 12 MMBO Nido (1979-present) 18.7 MMBO

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SLIDE 6

Transportation Installation Transportation Installation p

2 CNG t ti Malampaya ~ 2.4-3.7 2 CNG stations 51 CNG Buses 2.4 3.7 TCF 51 CNG Buses 34 operational

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SLIDE 7

Outline Outline Outline Outline

Oil and Gas Exploration Activities p

Exploration Areas Production, Developm ent, and Transportation

Production Data Exploration Data Fiscal Regim e ( Contract System ) Fiscal Regim e ( Contract System ) I nvestm ent Cam paign I nvestm ent Cam paign

Privileges of the Service Contractor Data availability and accessibility A f ff Areas for offer

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SLIDE 8

Philippine Petroleum Production

1.E+08 TOTAL GAS 1.E+07 TOTAL GAS Malampaya Condensate TOTAL OIL 1.E+06 OE) 1.E+04 1.E+05

  • lume (in BO

1.E+03 Vo 1.E+02 1 9 7 9 1 9 8 1 9 8 1 1 9 8 2 1 9 8 3 1 9 8 4 1 9 8 5 1 9 8 6 1 9 8 7 1 9 8 8 1 9 8 9 1 9 9 1 9 9 1 1 9 9 2 1 9 9 3 1 9 9 4 1 9 9 5 1 9 9 6 1 9 9 7 1 9 9 8 1 9 9 9 2 2 1 2 2 2 3 2 4 2 5 2 6 2 7 2 8 YEAR

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SLIDE 9

Outline Outline Outline Outline

Oil and Gas Exploration Activities p

Exploration Areas Production, Developm ent, and Transportation

Production Data Exploration Data Fiscal Regim e ( Contract System ) Fiscal Regim e ( Contract System ) I nvestm ent Cam paign I nvestm ent Cam paign

Privileges of the Service Contractor Data availability and accessibility A f ff Areas for offer

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SLIDE 10

P t l R P t l R Petroleum Resources Petroleum Resources

DI SCOVERED UNDI SCOVERED TOTAL ( MBBLOE) OI L ( MBBL)

2 6 8 3 ,5 0 0 3 ,6 0 0

GAS ( TCF)

3 .8 2 4 .7 2 8 .5

CONDENSATE ( MBBL)

1 0 9 5 6 1 6 5

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SLIDE 11

Historical Seism ic i i i Data Acquisition

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SLIDE 12

Seism ic Data Seism ic Data

2 D ( l k ) 3 D ( k ) ( ln-km ) ( sq. km )

TOTAL 4 6 3 5 0 0 8 2 4 7 TOTAL 4 6 3 ,5 0 0 8 ,2 4 7 2 0 0 7 1 2 ,0 1 0 1 ,6 8 0 2 0 0 9 3 ,3 0 0

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SLIDE 13

Historical Drilling Activity

( 1 8 9 0 – 2 0 0 8 )

5 6 40 45

Wells Drilled Discovery

4 30 35 3 20 25

Discove s Drilled

1 2 10 15

ery Well

1 5

Year

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SLIDE 14

W ell Data W ell Data

W ells Drilled Discovery 2 0 0 8 7 2 TOTAL 5 6 3 5 3

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SLIDE 15

Outline Outline Outline Outline

Oil and Gas Exploration Activities p

Exploration Areas Production, Developm ent, and Transportation

Production Data Exploration Data Fiscal Regim e ( Contract System ) Fiscal Regim e ( Contract System ) I nvestm ent Cam paign I nvestm ent Cam paign

Privileges of the Service Contractor Data availability and accessibility A f ff Areas for offer

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SLIDE 16

THE PETROLEUM SERVI CE CONTRACT SYSTEM

  • Regalian Doctrine

“All b l t th “All energy resources belong to the State”

  • The Government, through the

Departm ent of Energy ( DOE) , coordinates and supervises all p activities related to the energy exploration, development and exploration, development and production.

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SLIDE 17

Petroleum Law Petroleum Law Petroleum Law Petroleum Law

id i l “ h il Presidential Decree No. 8 7 : “The Oil Exploration and Developm ent Act of 9 2 ” 1 9 7 2 ”

G h i l S d E l ti C t t

  • Geophysical Survey and Exploration Contract

( GSEC)

  • Non-Exclusive Geophysical Perm it ( NEGP)
  • Non-Exclusive Geophysical Perm it ( NEGP)
  • SERVI CE CONTRACT ( SC) SYSTEM

( )

* Philippine Energy Contracting Round

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SLIDE 18

Fiscal Term s

Royalty/ ies : None Cost Oil : 7 0 % of gross incom e Depreciation : Double Declining Balance or Depreciation : Double Declining Balance or Straight Line Method I ncom e Tax : 3 2 % paid out of Gov’t share I ncom e Tax : 3 2 % paid out of Gov t share Profit Oil : 6 0 - 4 0 ( Governm ent – Contractor share) Contractor share) FPI A : 7 .5 % m axim um @ 3 0 % participation ( m inim um of participation ( m inim um of 1 5 % participation) State Participation : Not required

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SLIDE 19

Fiscal Term s

Contract Area : 8 0 0 -1 5 ,0 0 0 km 2 ( Offshore) , ( ) 5 0 0 -7 ,5 0 0 km 2 ( Onshore) Contract Term : 7 yrs exploration + 3 yrs Contract Term : 7 yrs exploration + 3 yrs extension 2 5 yrs production + 1 5 yrs 2 5 yrs production + 1 5 yrs extension Signat re Bon s US$ 5 0 0 0 0 US$ 2 5 0 0 0 0 Signature Bonus : US$ 5 0 ,0 0 0 – US$ 2 5 0 ,0 0 0 Other Bonuses : Negotiable ( Discovery & P d ti ) Production) Training Fund : Negotiable

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SLIDE 20

Outline Outline Outline Outline

Oil and Gas Exploration Activities p

Exploration Areas Production, Developm ent, and Transportation

Production Data Exploration Data Fiscal Regim e ( Contract System ) Fiscal Regim e ( Contract System ) I nvestm ent Cam paign I nvestm ent Cam paign

Privileges of the Service Contractor Data availability and accessibility A f ff Areas for offer

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SLIDE 21

Privileges of the Service Contractor

  • Service Fee of up to 40% of net proceeds
  • up
  • p o

d Cost reimbursement of up to 70% of i gross income

  • Filipino Participation Incentive Allowance

p p (FPIA) of up to 7.5% of gross income (minimum of 15% participation) ( p p )

  • Exemption from all national taxes except

income taxes income taxes

  • Free market determination of crude oil

and natural gas prices

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SLIDE 22

Outline Outline Outline Outline

Oil and Gas Exploration Activities p

Exploration Areas Production, Developm ent, and Transportation

Production Data Exploration Data Fiscal Regim e ( Contract System ) Fiscal Regim e ( Contract System ) I nvestm ent Cam paign I nvestm ent Cam paign

Privileges of the Service Contractor Data availability and accessibility A f ff Areas for offer

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SLIDE 23

Petroleum Data Petroleum Data

  • Energy Data Center of the Philippines

Petroleum Data Petroleum Data

Department of Energy

  • Web Mapping Software
  • Web Mapping Software

http://pdq.doe.gov.ph/pdq

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SLIDE 24

DOE W eb Map DOE W eb Map O eb ap O eb ap

http://pdq.doe.gov.ph/pdq

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SLIDE 25

Outline Outline Outline Outline

Oil and Gas Exploration Activities p

Exploration Areas Production, Developm ent, and Transportation

Production Data Exploration Data Fiscal Regim e ( Contract System ) Fiscal Regim e ( Contract System ) I nvestm ent Cam paign I nvestm ent Cam paign

Privileges of the Service Contractor Data availability and accessibility A f ff Areas for offer

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SLIDE 26

Maraming Maraming Salamat Salamat Po! Po! Maraming Maraming Salamat Salamat Po! Po!