Business Network Forum

18th Meeting, Iquitos- Peru, 04 March 2008

CAMISEA PROJECT

Project Description, Status and

Perspectives

By Norberto Benito
Peru Country Manager, Pluspetrol
LOCATION :
430 kms east of Lima BLOCK 88
230 kms north of Cusco
TWO CONTRACTS :
Block 88 - Camisea- in production
since 2004, further development
required.
Block 56 – Pagoreni, under
developmentPRELIMINARY APPROACH OFIQUITOS
FIELD DEVELOPMENT PLAN
Two additional exploration contracts
(blocks 57 & 58) with other Operators
CAMISEA RESERVOIR G&G
LIMA CAMISEA

TCM Buenos Aires, Nov 15th, 2006

pluspetrol
CAMISEA - BACKROUND
17 years 1981 • Shell’s 1st contract

October 1983 • SM1X discovered

July 1988 • Shell declines

May 1996 – July 1998 • Shell / Mobil Contract

• Project Bid in 2 Segments: Upstream - T&D

May 1999
17 Months

• Upstream awarded to Pluspetrol, Hunt y SK

February 2000
consortium

• T&D awarded to Techint, Pluspetrol, Hunt, SK,

October 2000
Sonatrach and GyM Consortium

December 2000 • Upstream and T&D Contracts signed

44 Months

2001 - 2004 • Project Construction

August 2004 • Gas in Lima

 CAMISEA Y PAGORENI-GENERAL SCHEME
Power generation
PAGORENI-under development
Homes, industry, cars PG-A PG-B
LIMA CLUSTER CLUSTER

PeruLNG plant
LNG GAS
PLANT Under PIPELINE SM1 SM3
CLUSTER CLUSTER

construction MALVINAS
PRIMARY SEPARATON
COMPRESSION
SAN MARTIN

Natural Gas Producing

PISCO Liquids
FRACTIONATION pipeline
PLANT CR1 CR2 CR3
CLUSTER CLUSTER CSTER

CASHIRIARI
Starting development
From Camisea to Lima
TRANSPORTADORA DE GAS DEL PERU –TGP-PIPELINES
P
I
S 10” 14 ”
C
O 560km
L
I M
M 18 ” 24 ” 32 ” C
A A
730km M
I
1300km of pipe = 187,000tns. S
E
A
Highest altitude: 4800 m. . . . . . . . . . . . . . . . . . Difficult conditions

ENVIRONMENTALLY
SENSIBLE AREA

730 km. 600 500 400 300 200 100 0

Km from Camisea Humay

COASTAL DESERT HIGH ANDEAN RANGE MOUNTAINS JUNGLE

LIMA- Area of the distribution contract

Lurín
(City Gate)

Lima

Ventanilla
(ETEVENSA) Pacific Ocean

El Callao
 UPSTREAM SEGMENT
Operator : Pluspetrol

Two areas , completly different :

Jungle, near Lower Urubamba river

Development of reserves

• 3D seismic acquisition

• Drilling gas wells

• Flowlines from wells to plant

• Gas processing plants

Coast - Lobería beach, Pisco :

Transform liquids into products

• NGL fractionation plant and marine

terminal
 CAMISEA & PAGORENI
MIPAYA

PAGORENI CAMISEA
PAGORENI

ESTIMATE RESERVES SAN MARTIN

GAS : 13.6 TCF

MALVINAS

LIQUIDS : 800 MMbls CASHIRIARI

EXPLORATORY POTENTIAL OF GREAT CAMISEA

KINTERONI

MIPAYA
BLOCK 57 - REPSOL
BLOCK 58 - PETROBRAS

Block 88
PAGORENI

SAN MARTIN

URUBAMBA
CASHIRIARI
OUR CHALLENGES...during the initial period

• Regional Instability • Financing difficulties

• Latin American Risk
1400
• Total Investment: 1,700 MM$
1200

• Peruvian Risk
1000

800

600

400

200

0
Jan.01 May.01 Sep.01 Jan.02 May.02 Sep.02 Jan.03 May.03 Sept.03 Ene.04

• Logistic and Technological • Socio- Environmental Sensibility

Complexities • Biodiversity
• Navigation Windows • Native Communities
• Operation in Jungle • World Cultural and Natural Heritage
• Automated Production- Heli
Operated
COMPLEX LOGISTICS

HOUSTON
MIAMI

PANAMA

OCEAN MATERIAL
TROMPETEROS
TRANSPORTATION
IQUITOS ATLANTIC OCEAN

PACIFIC OCEAN CAMISEA

LIMA

SAN PABLO

HOUSTON-IQUITOS
HOUSTON-CALLAO
S.PABLO - IQUITOS
S.PABLO-PAN-CALLAO
S.PABL.-C.HORNOS-CALLAO
ITALIA - CALLAO CP. HORNOS
LOGISTICS: RIVER TRANSPORT

• Construction of 10 barges
• Construction of 10 motorscows
• Over 120 barges and pushers
employed in operations
• 116,000 tons transported 2002/04
Native communities near Camisea
ÁREA DE INFLUENCIA - UPSTREAM
Main considerations for the
Communities Relationship Program

• early consultation program (since 2000)

• participative process

• local concerns included in the programs

• fair compensation programs

• local employment opportunities

• strengthening of local organizations

• respect to cultural and archeological heritage

CAMISEA BIODIVERSITY
MONITORING PROGRAM

www.pmb.camisea.com
 DRILLING

SM - 1 LOCATION

SAN MARTIN 1 – JUNE 2001 SAN MARTIN 1 – FEBRUARY 2003

Contract commitment : 4 wells
Drilled and completed : 6 wells
Total wells in two clusters : 8 ( 6 +2 existing)
5 producers and 3 for gas injection

San Martín 1
May 2004
Flowlines welding : Las Malvinas-San Martin 1, Aug. 2002
MALVINAS FACILITIES
AERIAL VIEW
 PISCO COASTAL FACILITIES

Aereal view before start of works PARACASN

ational
Reserve
border
EPC-G Subsea Pipelines - Flat Pack
Description

• 4000 m. Pipe installation

• 24” * 20” Butane / propane (pipe in pipe)

• 24” * 20” Butane / Propane (pipe in pipe)
• 24” Naphtha
• 10” Diesel
• 1000 m on shore (from plant to shore)
Floating devices
• 3000 m off shore (from shore to berth)
Ties

Wood spacers
Conveyors -Rails
 FIRST NAPHTHA CARGO

EXPORTS :
280THOUSAND
BARRELS EACH 20
DAYS

Over 400 vessels loaded without spills since start-up

POSIBLE GAS DEMAND by sector

Fuente: DGH
Pagoreni & Cashiriari Projects

Currently being developed

Gas from Pagoreni to feed
Perú LNG plant
 ACTIVITIES & INVESTMENTS

Investments in Details Comments

• 363 Km2 - 3D Completed in

Seismic
• 33 km – 2D 2005

6 wells in • Production wells

Drilling Two locations 1 vertical
5 Directional (slant)
Pagoreni (A & B) 5 drilled 1 drilling
360
720
• Gathering 360
• Re-injection 310
Flowlines 310 or
1 X 18” / 24” ( gathering) • Gathering 720
1 x 18” ( gather or reinject)
 MALVINAS- enlargement of processing capacity

Investments Details Comments

720 MMpcd
Capacity MMpcd
NGL unit
(Cryogenic) 2 x 360 current: 440
MMpcd Future : 1,160

Compresion • Reinjection 310 (4000 psi)

2 x F5D or
(2 x 43 MPH ISO)
Delivery 620 (2130 psi)

Malvinas
BOP Plant service equipment
Plant ( Balance of Plant ) And inter-conncections
(BOP)
pluspetrol

EPC-PC: PAGORENI A - AERIAL VIEW

Malvinas EPC-11: Erection of Deethanizer Tower N°03 & 04

June 2007
pluspetrol Pagoreni Project - Block 56

ELECTROMECHANICAL WORKS AT MALVINAS (EPC-11)

 CASHIRIARI – WORK PROGRAM

Investment Details Remarks

• Production Wells
• 4 Directional wells
4 Wells
1 Workover • 1 Workover
Drilling
1 Well Pad
• 1 Well Pad Cashiriari 1

Malvinas – CR1

Flowlines • Production
• Length 33,2 km
1 X 24”

Reinjection 310 (4000 psi)

Malvinas or
1 MS502D
5°Compressor ( 1 x 43 MPH ISO) Delivery 620 (2130 psi)

Gas Flow Rate in MMSCFD

 pluspetrol B88 & B56 OVERVIEW Next slide

PAGORENI B

Block 56
PAGORENI A

SAN MARTIN 1

Block 88
SAN MARTIN 3

MALVINAS
PLANT

CASHIRIARI 2
CASHIRIARI 1
CASHIRIARI 3

Block 58

CR 1 Flowline – Total length (Regular line & special crossings) = 33,2 Km

 pluspetrol Pisco Expansion Plant

Pisco
Thank you very much for your kind attention