1. Oil and gas exploration & production

This is the core business of PVN, the current metres per year. By 2012, we are planning to achieve reserves are approximated of 1.4 billion cubic metres 20 million tons of oil and 15 billion cubic metres of of oil equivalent. In which, oil reserve is about 700 gas annually. million cubic metres and gas reserve is about 700 In this area, we are calling for foreign investment in million cubic metres of oil equivalent. PVN has both of our domestic blocks as well as oversea explored more than 300 million cubic metres of oil projects including: Blocks in Song Hong Basin, Phu and about 94 billion cubic metres of gas. Khanh Basin, Nam Con Son Basin, Malay Tho Chu, Until 2020, we are planning to increase oil and gas Phu Quoc Basin, and overseas blocks reserves to 40-50 million cubic metres of oil in , Uzbekistan, , and Cambodia. equivalent per year; in which the domestic reserves The opportunities are described in detail on the increase to 30-35 million cubic metres per year and following pages. oversea reserves increase to 10-15 million cubic

Overseas Oil and Gas Exploration and Production Projects

RUSSIAN FEDERATION Rusvietpetro: A Joint Venture with Zarubezhneft Gazpromviet: A Joint Venture with

UZBEKISTAN Contracts, Blocks Kossor, Molabaur Petroleum Contract, Study Agreement in Bukharakhiva Block 433a & 416b Petroleum Contract, Block Tamtsaq

CUBA Petroleum Contract, Blocks 31, 32, 42, 43 1. Oil and gas exploration & production e) LAO PDR Petroleum Contract, Block Champasak CAMBODIA 2. Gas Industry Petroleum Contract, Block XV VENEZUELA 3. Refineries & Petrochemicals Block Junin-2 4. Power generation PERU 5. Petroleum Professional & Technical Services Petroleum Contracts, Blocks 162, 39, 67 CONGO MALAYSIA Petroleum Contract, Petroleum Contract, Block P e) Block Marine XI Petroleum Contrac e)

INDONESIA Petroleum Contract, Block Randugunting Petroleum Contract, Block M2

MADAGASCAR Petroleum Contrac e Propond)

1 2

Vietnam Petroleum Activities Block MVHN ( Trough) onshore of Song Hong Basin

Block MVHN (Hanoi Trough)

Area: 6,974 Sq. km Location : Onshore of Song Hong Basin Seismic: 8,000 line-km 2D Well : - 46 petroleum exploration wells - 15 Coal Bed Methane wells MVHN is a petroleum potential and CBM potential block. This is demonstrated by oil show and gas discoveries at the wells, 01 gas field is producing. Offshore close to the MVHN one gas field in block 102 is going to develop,. In block 106 has Ham Rong Oil field also going to develop. The Coal Bed Methane was found in blocks MVHN-01KT, 02KT and 03KT. Geological setting

Ha Noi Trough is divided into the Central Belt sandwiched between the Song Chay and the Vinh Ninh fault zones, the NE Belt from Vinh Ninh fault zone passing through the Song Lo fault, and the SW Belt between the Red River fault and the Song Chay fault. The sedimentary section into two structural units. The lower structural unit is the paleo- consisting of Proterozoic to late Mesozoic strata. The upper one consist of sedimentary rocks that overlies unconformable on the older formations. The upper structures unit in MVHN with maximum thickness of 7km, has been formed in Eocene-Oligocene by extension activity. At the late of Oligocene, extension activity stoped, and subsidence process widely happened all over the area. From late of Middle to Late Miocene, there is a inversion tectonic phase and formed a series of reversed faults such as the Vinh Ninh fault, Tien Hai fault,...

BLOCK MVHN - PETROLEUM SYSTEM Source Terrestrial and terrestrial/lacustrine Oligocene rock sediments; Promising Triasic (found in tidal zone of the area)

Miocene Sst, Oligocene Sst, Devonian- Reservoir carboniferous-Permian Carbonate

Regional seal: Upper Miocene-Pliocens Seal Further Information claystone; Local seal: Oligocene and Miocene Claystones, fault seal Tel: 84-4-38252526 Fax: 84-4-38265942 Oligocene and Miocene anticlines; Pretertiary Trap Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, basement highs; stratigraphic trap; drape over Attn: Dr. Nguyen Quoc Thap - Vice President basement Cc : Dr. Phan Tien Vien - GM of Exploration Division

3 4 Block 104 – Song Hong Basin Investment Opportunity in Block 102/10 & 106/10

Block 104 – Song Hong Basin Petrovietnam Exploration Production Corporation Significant oil and gas resources with 987 Ltd., ("PVEP") is currently operating the prospective million barrels of oil and 1,176 billion cubic Exploration Block 102/10 & 106/10 ("Block"), feet of gas in place • Area : 7,500 Sq. km offshore Vietnam and is seeking a strategic partner Exploration history • Location : Offshore Northern part of Vietnam to participate in exploration of this Block by means During the period of 1989 - 2005, a total of 11,470 • Sea level: 0-50 m of farm out in the amount up to 66% of participating km 2D seismic was acquired in by various • Seismic : 5,016 line-km 2D companies namely Total, Idemitsu, PCOSB and • Well : 3 wells 1,125 km2 3D seismic acquired by PCOSB in the • Block 104 is thought as potention for commercial original Block 102 & 106. hydrocarbon withs many adjacent oil and gas Eight (8) exploration wells have been drilled in the discoveries as Ham Rong, Yen Tu, Hac Long, Dong original Block 102 & 106. Of these, 102-TB-1X well Fang... flowed 23-24 mmscf/d from Miocene ; 106-HR-1X well flowed 4,859 bopd and 6 mmscf/d Geological setting and 106-HR-2X well flowed 3,401 bopd and 4.47 mmscf/d from pre- carbonate basement • The block 104 lies over from the Thanh Nghe Monocline reservoir; meanwhile 102-CQ-1X, 102-HD-1X, 106- to the Central Trough of Song Hong Basin which is made YT-1X&2X, 106-HL-1X wells encountered good up of a techtonically stable sediment package. hydrocarbon shows during drilling. • A series of Miocene to present day buried structures of thin sedimentary cover (500-1,000 m thick) are encountered in this block

Location of Block 102/10 & 106/10 PETROLEUM SYSTEMS interests within the Contract. Source Oil and gas prone Paleogen-Lower The Contract of Block was signed on October 07, 2011 rock Miocene lacustrine in center of and became effective on October 27, 2011. This block Song Hong Basin. Probably Middle encompasses an area of 10,000 sq.km and is located Seismic base map & well locations Miocene marine mudstone in center of in the prolific Song Hong basin. The Block is located Song Hong Basin. in water depths of c. 20 - 40 m and contains several Stratigraphic bodies onlapping on to drillable prospects namely Yen Tu, Sapa, Chi Linh. Reservoir the basement with moderate HC Key opportunity highlights potential, Pre-Tertiary basement. The Block is located in areas with favorable conditions, such as: gas-hungry Northern Local seal in Lower Miocene shales, part of Viet Nam, ... Seal Regional seal in Miocene-Pliocene shales. Pre-Tertiary basement highs, Block 102/10 & 106/10 located in an area drape over basement, stratigraphic surrounded by a proven and established traps hydrocarbon discoveries and fields in the vicinity i.e. Block 102 & 106 (Ham Rong, Thai Pre-Tertiary basement highs, drape Trap Binh under developed oil and gas fields) and over basement, stratigraphic traps Block 103 & 107 (Bach Long, Hac Long, Hong Long gas discoveries) 2D seismic line across Block 102/10 & 106/10

5 6 Process: Investment Opportunity in Block 101-100/04, Offshore Vietnam Following execution of a confidentiality agreement and necessary arrangement, interested parties will Petrovietnam Exploration Production Corporation in 2009 and 2011, with proven reserves of around be provided with access into physical data room in Ltd., (“PVEP”) is going to operate the Block 101- 30.2 Bcf gas and 4.7 MMbbls. The main objective is PVEP’s Office in Hanoi to review data and other 100/04 ("Block"), offshore Vietnam and is seeking a Tertiary clastics and Paleozoic carbonate. Several documentation. PVEP personnel will provide an strategic partner to participate in exploration of this discoveries have been made to the east of Block 101- overview presentation and will be available for Block by means of farm out in the amount up to 40% 100/04 in the Beibu Wan Basin. The largest field, of participating interests within the Contract. technical and commercial discussions. Wei 12-1 is estimated to have recoverable reserves in Contact the range of 85 – 100 MMBO with single well All comments or queries regarding the process or production rates of up to 34,000 BOPD. Within the the Opportunity should be addressed to the persons northern Song Hong Basin the most recent discovery was made at Yen Tu-1X and Ham Rong-1X whose contact details are below. No contact should in Middle Miocene and Paleozoic be made directly with any other employees of PVEP limestones. or related entities. Dr. Nguyen Tien Long - Vice President of PVEP Exploration history + Seismic database: Stratigraphy & Hydrocarbon system Tel: + 84 (4) 3772 6001 (Ext 7802) Fax: + 84 (4) 3772 6027 - 1991: China (CNOOC) drilled two wells In August 2012, PVEP has acquired 1,117 km2 3D Weizhou 1421 (Discovery) & 1422 (Dry) Email: [email protected] seismic data over the main structures in the Block - 2001: Border dispute between China &Vietnam 102/10 & 106/10. It is being processed at the resolved IMPORTANT NOTICE & DISCLAIMER moment. - 2005: 2D Seismic Acquisition by PIDC Location of 101-100/04 Block and nearby oil & gas fields Prospects This information is provided only to assist parties to determine if - 2007: PSC awarded to Santos they wish to continue to evaluate the asset. PVEP and their The contract of Block 101-100/04 PSC was signed on Twelve (12) most promising prospects have been respective affiliates, officers, directors, employees, and - 2007: 3D Seismic Acquisition & PSTM October, 2006. The exploration period is divided identified with total resources of around 1.6 Tcf gas representatives make no representations or warranties, express into three (3) phases: phase o - processed (~700km2) and 1,547.6 Mmbbls oil. Most of them are 4-way dip or implied, concerning the fairness, quality, accuracy or + Well data: closures and faulted into compartments. The main completeness of any such information or opinions contained in ne is for the first three (3) years; phase two is for two (2) years and phase three is also for two (2) years. - 2009: Ha Mai -1X (Gas Discovery) proven targets are sandstones of Miocene, this Document. The information set out above is preliminary and should not be relied upon for any purpose. Interested parties Phase II expires on 18 April 2012. Major items are - 2010: 3D PSDM reprocessing of Cat Ba Oligocene, carbonate Platform of Devonian with should (and will be deemed to have made) conduct their own 2D, 3D seismic, HM-1X and CB-1X wells. Phase III - 2011: Cat Ba-1X (Oil and Gas discovery) target depth from 1,000m to 3,500m. investigation and analysis of the opportunity, PVEP and its commitment is 01 well ($6MM) subsidiaries, their business, prospects, results of operations. All of the documents contained herein are confidential in nature and Key opportunity highlights should not be excerpted from, copied, distributed, reproduced or Proven Petroleum System. used in any manner without the express written consent of PVEP. High quality oil & gas sampled in exploration This document does not constitute an offer or invitation for the wells. sale or purchase of any type of securities, interests or rights or any assets, business or undertaking described herein and shall not Excellent reservoir properties high flow rate form the basis of any contract. potential. One exploration uncertainty remains – trap size. Gas monetisation uncertainty in economic assessment. Regional context Block 101-100/04 is located within the proven petroleum system and surrounded by discoveries. Prospect Location Map, Block 102/10-106/10 Oil and gas discovered in Tertiary clastics in wells of Seismic basemap & well location this block. The Ha Mai, Cat Ba fields was discovered

7 8 Blocks: DBSCL-01, 02, 03&04 Onshore Mekong Delta

Blocks DBSCL-01,02,03&04 • Area : 54,500 Sq. km • Location: Onshore Mekong Delta, South of Vietnam. • Seismic : 1,317 line-km 2D DBSCL-01: 717 km seismic 2D DBSCL-02: 300km seismic 2D DBSCL-03: 300 km seismic 2D DBSCL-04: No seismic data Seismic line across Block Prospect Location Map • Well : 06 wells PVEP's Office in Hanoi to review data and other Geological setting documentation. PVEP personnel will provide an overview presentation and will be available for - Mekong delta comprises a Permian and Triassic Basin in the technical and commercial discussions. and Tertiary sedimentary Basin in the South- East Contact and is related to the two rifting phase in Permian and Early All comments or queries regarding the process or Oligocene. the Opportunity should be addressed to the persons - Extension & drifting phase til the end of Permian, with whose contact details are below. No contact should consequent compressive phenomena affecting the Khorat be made directly with any other employees of PVEP Basin in Thailand. or related entities. - Shrinking and/or Collision phase between early Triassic to Dr. Nguyen Tien Long - Vice President of PVEP Jurassic, at first in the NE with the South-China block along Tel: + 84 (4) 3772 6001 (Ext 7802) Song Ma suture line, then to the W along the Nan Uttaradit and Bengtong Raub suture lines. Fax: + 84 (4) 3772 6027 Email: [email protected]

IMPORTANT NOTICE & DISCLAIMER This information is provided only to assist parties to determine if they wish to continue to evaluate the asset. PVEP and their respective affiliates, officers, directors, employees, and representatives make no representations or warranties, express or implied, concerning the fairness, quality, accuracy or completeness of any such information or opinions contained in this Document.

Stratigraphy and petroleum system The information set out above is preliminary and should not be relied upon for any purpose. Interested parties should (and will Prospects be deemed to have made) conduct their own investigation and Eleven (11) most promising prospects have been analysis of the opportunity, PVEP and its subsidiaries, their business, prospects, results of operations. identified with total resources of around 547 mbbls oil and 297 bcf gas. The main proven targets are All of the documents contained herein are confidential in nature and should not be excerpted from, copied, distributed, Tertiary clastics and Paleozoic carbonate. reproduced or used in any manner without the express written Process: consent of PVEP. This document does not constitute an offer or invitation for the Following execution of a confidentiality agreement sale or purchase of any type of securities, interests or rights or any and necessary arrangement, interested parties will assets, business or undertaking described herein and shall not be provided with access into physical data room in form the basis of any contract.

9 10 Blocks: DBSCL-01, 02, 03&04 Onshore Mekong Delta Block 19 – Nam Con Son Basin Petroleum systems Block 19 – Nam Con Son Basin Petroleum systems of Mekong delta are referred to adjacent basins • Area : 4.569 sq. km KHORAT BASIN: CUU LONG BASIN: • Location : Offshore South-western part of Vietnam • Sea level: ~50m Source Permian /Triassic fluvial-lacustrine Source Lacustrine oligocene shale • Seismic : ~5,100 km 2D rock shale; Main gas potential rock • Well: 01 Well (19-TN-1X) Weathering granites basement, Oligo-Miocence clastics, fractrured • Objectives: Upp.Oligocene, Lower - Middle Reservoir Reservoir fractured dolomites/limestone Permian; granites basement Miocene sandstones fluvial sandstoneTriassic/Jurrasic

Interbeded Permian, Triassic and Olio-Miocene Interbeded shales Seal Seal Geological setting early Jurassic shales

Clastics drape on paleo highs, tilted Faulted basement highs, drape clastics, Block 19 lies on Westtern Differentiated zone between Trap Trap fault blocks, carbonate platform, tilted fault blocks the Song Hau & Song Dong Nai faults. Basement inversion folding topography is strongly differentiated and is relatively complex. DBSCL02, 03 are close to Khorat basin which is DBSCL01 is close to Cuu Long basin which is prolific hydrocarbon potential in Pre-tertiary profilic hydrocarbon potential in Tertiary fractured carbonate reservoirs clastics and basement reservoirs

DBSCL01, 02, 03 & 04 are potential but frontier and regarded as attractive areas for exploration

PETROLEUM SYSTEMS Source Coals, coaly shales, interbedded with rock claystones in the Oligocene continental and Lower Miocene marine environment. Reservoir Miocene- fluvial-deltaic sandstones, Middle Miocene shallow marine sandstones and weathered and fractured Mesozoic Basement rocks.

Seal Late Miocene - Early Pliocenefine grain sediment. Oligocene - Miocene shale, silt. Further Information Petrovietnam Trap Basement highs, structural or Tel: 84-4-38252526 stratigraphic traps, flower structures, Fax: 84-4-38265942 Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam sand lens, turbidite Attn: Dr. Nguyen Quoc Thap - Vice President Cc : Dr. Phan Tien Vien - GM of Exploration Division

11 12 Block 20 - Nam Con Son Basin Block 03 Nam Con Son Basin

Block 20 – Nam Con Son Basin Block 03 – Nam Con Son Basin

• Area : 4.574 sq. km • Area : 5,081 sq. km • Location : Offshore South-western part of Vietnam • Location : Offshore Southern part of Vietnam • Sea level: ~50m • Sea level: 70 - 500 m • Seismic : ~5,700 km 2D • Seismic : 6,557 km 2D • Well: 02 Wells (20-PH-1X, 20-MG-1X) • Well : 02 wells (03-PL-1X, 03-BOS-1X) • Objectives: Miocene sandstones • Objectives: Miocene and Oligocene sandstones • Nearby gas-condensate-oil Dai Hung field Geological setting Geological setting

Block 20 lies on Westtern Differentiated zone between Nam Con Son basin was formed as an rift basin, the Song Hau & Song Dong Nai faults. Basement initiated during Oligocene period as the result of topography is strongly differentiated and is relatively Bien Dong extension and elongated depression complex. trending SW-NE. Tertiary sediment reached to 14,000 meters thick.

PETROLEUM SYSTEMS Proven petroleum basin containing oil & gas discoveries Source Oligocene source rock; Early Miocene source rock rock (more than 61% samples has TOC lower 5%) Reservoir Miocene and Oligocenr sandstone with fair to good porosity Seal Shale with fair quality Trap Build-up, fault juxtaposed sub-dome, turbidite Prospects/ 08 prospect/leads identified. Hydrocarbon occurrence in 03-PL-1X and 03-BOS-1X PETROLEUM SYSTEMS Leads Source Coals, coaly shales, interbedded rock with claystones in the Oligocene continental and Lower Miocene marine environment. Upper Oligocene - Miocene- Reservoir fluvialdeltaic sandstones, Middle Miocene shallow marine sandstones and weathered and fractured Mesozoic Basement rocks. Late Miocene - Early Pliocenefine Seal grain sediment. Oligocene - Miocene shale, silt. Basement highs, structural or Trap stratigraphic traps, flower structures, sand lens, turbidite.

Seismic sequences identified in Nam Con Son basin

13 14 Block 06/94 Nam Con Son Basin Block 22/03 Nam Con Son Basin

Block 06/94 – Nam Con Son Basin Block 22/03 – Nam Con Son Basin

• Area : 4,147 sq. km • Area : 4,753 sq. km • Location : Offshore Southern part of Vietnam • Location : Offshore Southern part of Vietnam • Sea level: 20-100 m • Sea level: 20-100 m • Seismic : 17,204.1 lkm 2D & 1,022 sq. km 3D • Seismic : 3,000 km 2D • Well : 04 wells • Well : 01 well (22-TT-1X; oil show & good seal) • Objectives:Oligocene-Miocene sandstones and • prospects & leads: 05 Miocene limestones • Objectives: Pre-Tetiary fractured basement and Miocene • Nearby 04 gas-condensate fields (Lan Tay, Lan Do, sandstone Hai Thach, Moc Tinh) Geological setting Geological setting Nam Con Son basin is formed as an rift basin, initiated during Oligocene period as the result of Bien Dong Nam Con Son basin was formed as an rift basin, initiated extension and elongated depression trending SW-NE. during Oligocene period as the result of Bien Dong extension and elongated depression trending SW-NE. Block 22/03 is in transition zone of NCS Western difference Tertiary sediment reached to 14,000 meters thick. subzone and Natuna adjacent subzone where faulting activity outweights with two fault systems: NE-SW & NW- Block 06/94 lies on East depression zone, Dua uplift SE. This block is subzone which is developed in the NE-SW direction anticlinal strucuture associated with carbonate formation. PETROLEUM SYSTEMS Proven petroleum basin containing oil & gas discoveries PETROLEUM SYSTEMS Source Oligocene shale and coaly shale Proven petroleum basin containing oil & gas discoveries rock Source Coals, coaly shales, interbedded with claystones in the Oligocene continental and Lower Reservoir Oligocene and Miocene sandstones; rock Miocene marineenvironment. Fractured granite basement Reservoir Coals, coaly shales, interbedded with claystones in the Oligocene continental and Lower Lower Miocene – Pliocene shale: good regional Seal Miocene marine environment. seal; Late Oligocene claystone: local seal Seal Late Miocene - Early Pliocenefine grain sediment. Oligocene - Miocene shale, silt, coal Basement high, tittled fault block and shale and calcareous shale layers are effective local seals. Trap combination types Trap basement highs and may be either structural or stratigraphic traps such as carbonate reefs/build-up, flower structures, sand lens, turbidite

15 16 Block 28 - Nam Con Son Basin Block 29 - Nam Con Son Basin

Block 29 – Nam Con Son Basin Block 28 – Nam Con Son Basin • Area : 7.450 sq. km Area : ~7.650 sq. km • Location : Offshore South-western part of Vietnam • Location : Offshore South-western part of Vietnam • Sea level: ~50m • Sea level: ~50m 2 2 • Seismic : ~2.000 km 2D; 500 km 3D • Seismic : ~3.000 km 2D , 1.000 km 3D • Well: 02 Wells • Well: 02 Wells • Objectives: Upp.Oligocene, Lower - Middle • Objectives: Upp.Oligocene, Lower - Middle Miocene Miocene sandstones sandstones Geological setting Geological setting

Block 28 lies on Westtern Marignal Sub Zone. This subzone Block 29 lies on Westtern Marignal Sub Zone. This is developed on the western fank of the Song Hau fault and subzone is developed on the western fank of the Song Hau is contiguous with the Khorat - Natuna High in the sub- fault and is contiguous with the Khorat - Natuna High in longitudinal direction. the sub-longitudinal direction.The topography of Pre- The topography of Pre-Cenozoic basement is relatively Cenozoic basement is relatively stable, creating a stable, creating monocline that gradually dips to the East. a monocline that gradually dips to the East.

PETROLEUM SYSTEMS Source Coals, coaly shales, interbedded with claystones in the Oligocene continental and Lower PETROLEUM SYSTEMS rock Miocene marine environment. Source Coals, coaly shales, interbedded with claystones in the Oligocene continental and Lower Reservoir Miocene- fluvial-deltaic sandstones, Middle Miocene shallow marine sandstones and rock Miocene marine environment. weathered and fractured Mesozoic Basement rocks. Reservoir Miocene- fluvial-deltaic sandstones, Middle Miocene shallow marine sandstones and Seal Late Miocene - Early Pliocenefine grain sediment. Oligocene - Miocene shale, silt. weathered and fractured Mesozoic Basement rocks. Trap Basement highs, structural or stratigraphic traps, sand lens, turbidite Seal Late Miocene - Early Pliocenefine grain sediment. Oligocene - Miocene shale, silt. Trap Basement highs, structural or stratigraphic traps, sand lens, turbidite

17 18 Investment Opportunity in Block 05.2/10, Nam Con Son Basin, Vietnam

Following a strategic review of its Vietnamese portfolio, block 05.1b, Dai Nguyet block 05.1c, etc.) Petrovietnam Exploration Production Corporation ・The Block is located in areas with more favorable Ltd., (“PVEP”) is considering the potential divestment conditions, such as: nearby the Vung Tau port, of up to 20%, non-operated interest in the prospective Nam Con Son pipeline … exploration block 05.2/10 PSC ("Block"), offshore Nam

Con Son basin. ・ Significant oil and gas resource with over 1,000 million barrels of oil equivalent in place ・ An opportunity to participate in a prospective exploration / appraisal opportunity in one of the most attractive basin in Vietnam. Seismic base map & well location Regional context Block 05.2/10 is located within the proven petroleum system and surrounded by significant oil, gas/condensate fields. A significant amount of oil and gas was discovered in the Middle to the Late Miocene carbonate and sandstone reservoirs in Lan Tay Lan Do Prospect Location Map, Block 05.2/10 field, Hai Thach field, Dai Hung field, Rong Doi field, T030/T020 play and other 9 in the ‘northern flay Thien Ung field; in the Late Oligocene to Early Miocene fairway’ T040-T065 to T030 play. The total resources sandstone reservoirs in Dai Hung field, Hai Thach field, of the block is over 1,000 mmboe. Rong Doi field, Thanh Long discovery, etc. Process: Exploration history Following the execution of a confidentiality agreement In 1993-1994, first two (2) exploration wells NT- and necessary arrangement, interested parties will be 1X/1RX (1993) and Bac-1X (1994) have been drilled and Regional Seismic Horizons, Block 05.2/10 provided with access to physical data room in PVEP’s encountered 25 meters of net gas pay in the Upper Office in Hanoi to review data and other Miocene carbonate (Bac-1X) and 16 meters of net gas documentation. PVEP personnel will provide an Location map of the Block 05.2/10 and adjacent oil & gas/condensate fields pay in the Middle Miocene sandstone reservoir (NT- overview presentation and will be available for The PSC was signed on January 24, 2011 and became 1X/1RX). technical and commercial discussions. effective on February 17, 2011. The current Participating In 1995-2002, additional five (5) exploration and Contact Parties of the PSC are Talisman (40%, Operator) and appraisal wells i.e. HT-1X, HT-2X, HT-3X, KCT1X and All comments or queries regarding the process or the PVEP (60%). The Block 05.2/10 covers an area of 2,132 KCT-1XST1 have successfully tested and flowed gas- Opportunity should be addressed to the persons whose sq.km and lies approximately 320 km from Vung Tau condensate from the Lower Miocene sandstone, the contact details are below. No contact should be made City and 45 km from Nam Con Son Pipeline. The Block is Middle-Upper Miocene turbidities sandstone and the directly with any other employees of PVEP or related located in water depths of c. 200 - 700 m and contains Upper Miocene carbonate reservoirs. entities. numerous potential prospects. The recent mapping In 2012, two additional (2) exploration wells namely Dr. Nguyen Tien Long – Vice President confirms the presence of two (2) prospective play NT4-1X and TA3-1X have been drilled and resulted in Tel: + 84 (4) 3772 6001 (Ext 7802) fairways. The primary targets in the ‘southern terrace’ the presence of working petroleum system in the Block Fax: + 84 (4) 3772 6027 fairway are the pre-rift Early Miocene T030 sequence 05-2/10. The NT4-1X well which drilled on the Email: [email protected] and Late Oligocene T020 (sandstone reservoir), while southern part of the block has firmed up the Upper IMPORTANT NOTICE & DISCLAIMER in the deeper ‘northern basin’ the primary targets are Oligocene mature source rock (HI 350-440, T20 is just the Middle Miocene syn-rift T040-T065 sequences entering the oil window, temperature gradient is This information is provided only to assist parties to determine if (carbonate and sandstone reservoirs) with a secondary they wish to continue to evaluate the asset. PVEP and their respective 4.3oC/100m), high quality Lower Miocene clastic affiliates, officers, directors, employees, and representatives make target in the Early Miocene T030. reservoir and effective top seal and lateral seal. no representations or warranties, express or implied, concerning the Key opportunity highlights Meanwhile, the TA3-1X well located in the northern of fairness, quality, accuracy or completeness of any such information the block has encountered two (2) logged reservoir or opinions contained in this Document. The information set out ・The Block is located in an area surrounded by above is preliminary and should not be relied upon for any purpose. proven and established hydrocarbon fields and intervals with total of over 11 meters net pay in the Middle Miocene section from 2,566-2,655 Interested parties should (and will be deemed to have made) conduct discoveries (Dai Hung oil field block 05.1a, Lan their own investigation and analysis of the opportunity, PVEP and its meters MD. The average reservoir parameters are: 20% subsidiaries, their business, prospects, results of operations. All of Tay Lan Do gas-condensate field block 06.1, Hai Stratigraphy & Hydrocarbon system Thach-Moc Tinh gas-condensate field block 05.2 effective porosity, 50% water saturation, and 32% the documents contained herein are confidential in nature and Prospects should not be excerpted from, copied, distributed, reproduced or and 05.3 respectively and several gascondensate VClay. The TA3-1X well has encountered additional oil and gas shows over a gross interval of 120 meters from a used in any manner without the express written consent of PVEP. discoveries i.e. Thien Ung block 04.3, Thanh Long A full prospect inventory with reserves and risks has depth of 3,046 meters to 3,725 meters MD. This document does not constitute an offer or invitation for the sale been compiled with a total of 25 prospects recognized, or purchase of any type of securities, interests or rights or any assets, of which 16 are located on the ‘southern flay fairway’ business or undertaking described herein and shall not form the basis of any contract.

19 20 Investment Opportunity in Vietnam Gau Chua and Ca Cho will be developed as pilot economics. project by drilling 9 wells from 01 Central Platform, Exploration Upside Potential of which 7 wells to develop Gau Chua Basement and HIGHLIGHTS SUMMARY OF OPPORTUNITY 2 wells to develop Ca Cho Middle Miocene Several relatively low risk exploration prospects reservoirs. exist within the Block 10-11.1 PSC which if successful An opportunity to Petrovietnam Exploration Production Corporation Ltd., (“PVEP”) is could be tied in to the Gau Chua - Ca Cho fields Gau Ngua Field participate in a currently jointly operating the prospective Block 10-11.1 ("Block"), facilities such as Gau Vang and Gau Vang Nam in the North of Ca Cho. An independent exploration prospective under offshore Vietnam and is seeking a strategic partner to participate in Gau Ngua Field is located to the South of Ca Cho development oil and gas Field and was discovered by the Gau Chua-1XST program in the South of retention area with 1+1 development and additional potential exploration of this Block by nd field in one of the most exploration well (this well were sidetracked from wells also planned to commence in 2 Quarter of means of farm out in the amount up to 40% of participating interests attractive basin in GC-1X to Gau Ngua clastic reservoir) in 2008 with 2013, target to Basement of Gau Truc, Gau Mat Troi within the Contract. Vietnam flow rate of 270 – 360 barrels of oil per day. and Ca Pecca Dong basement structures, will add The Block is located in Nam Con Son Basin that is within the proven The Block is located in Development of Gau Ngua will be added to project more resource. ConSon JOC has mapped a range of areas with more petroleum system and surrounded by numerous oil and gas fields. The overall when further appraisal confirms attractive prospects within the block. Block is located in shallow water depths of c. 80 - 110 m and contain the favorable conditions, RESERVES & RESOURCES such as: nearby the Vung under-developed Gau Chua and Ca Cho fields as well as undeveloped Tau port, Nam Con Son Gau Ngua field. The Block PSC is operated by ConSon JOC, a consortium A summary of the reserves and resources within the Block 10-11.1 PSC are provided below. pipeline… established by tripartite including Petrovietnam, and Block 10-11.1 PSC Reserves Overview Block 10-11.1 PSC Resources Overview The recoverable reserves . The majority of of the Gau Chua and Ca the recoverable hydrocarbon Fields 2P Recoverable Reserves Prospects 2P Resources Cho fields of 59.1 million volumes contained within the Ca Cho Gau Truc barrels oil equivalent Block PSC are located within Oil (mmbbls) 6.5 Oil (mmbbls) 700 Near and mid-term the Ca Cho and fields. These Gas (bcf) 15.28 Gau Mat Troi production volumes of fields were discovered in 1995 Total (mmboe) 9.2 Oil (mmbbls) 200 12,000 barrels oil per and 2007 respectively. An Gau Chua Ca Pecca Dong day and 2 million cubic Oil (mmbbls) 40.8 Oil (mmbbls) 200 feet per day. The first oil ODP for the field was Gas (bcf) 51.27 is expected to be in 2016 submitted and approved and development drilling is Total (mmboe) 49.9 Significant oil and gas GRAND TOTAL (mmboe) 59.1 GRAND TOTAL (mmbbls) 1,100 resource with over 1,100 expected to commence in million barrels of oil in 2013 with first production Process place expected in 2016. The further farm out process will be provided at the later stage. Contact detail OVERVIEW OF ASSETS Mr. Pham Ngoc Khue - General Manager of Investment & Business Development of PVEP Tel: + 84 (4) 3772 6001 * Fax: + 84 (4) 3772 6027 Ca Cho Field Gau Chua Field Email: [email protected]

The Ca Cho Field was discovered in 1995 by Total Gau Chua Field is located to the West of Ca Cho Field IMPORTANT NOTICE & DISCLAIMER and was discovered by the Gau Chua-1X exploration and subsequently appraised from year 2008 to year This information is provided only to assist parties to determine if they wish to continue to evaluate the asset. PVEP and their respective 2009 with well flow rate range from 800 – 2,900 well in 2007 with initial flow rate of 150 barrels of oil affiliates, officers, directors, employees, and representatives make no representations or warranties, express or implied, concerning barrels of oil per day and 0.3 – 1 million cubic feet of per day. CC-2XST and GC-2X appraised the field in the fairness, quality, accuracy or completeness of any such information or opinions contained in this Document. gas per day. The field is contained within Miocene 2008 and 2009 respectively confirmed the The information set out above is preliminary and should not be relied upon for any purpose. Interested parties should (and will be sandstone reservoir. commercial flow rate up to 2,000 barrels of oil per deemed to have made) conduct their own investigation and analysis of the opportunity, PVEP and its subsidiaries, their business, day. Development drilling on Gau Chua is expected prospects, results of operations. The field will be developed by 2 development wells to commence in 2013 with first production expected All of the documents contained herein are confidential in nature and should not be excerpted from, copied, distributed, reproduced or drilled from Central Platform which covers in 2016. used in any manner without the express written consent of PVEP. development of both Gau Chua and Ca Cho. This document does not constitute an offer or invitation for the sale or purchase of any type of securities, interests or rights or any assets, business or undertaking described herein and shall not form the basis of any contract.

21 22 Blocks 31, 32, 33, 34, 35 & 36/03 Block 37 - Phu Quoc Basin Offshore Vietnam Block 37 - Phu Quoc Basin Block 31 32 33 34 35 36/03 • Area : 5,020 sq. km Area (km2 ) 5,036 4,440 4,630 4,700 4,630 2,950 • Location : Southwest Offshore Vietnam Sea level (m) 20 20-30 30-40 50 50 50 • Sea level: 20-30 m Seismic 2D (km) 1,294 685 431 477 380 593 • Seismic : 775 km 2D • Well : No well Well 1 - - - - - • HC Potential in Mesozoic basin HC Potential Cenozoic Cenozoic Cenozoic Cenozoic Cenozoic Cenozoic basin basin basin basin basin basin Geological setting

The Phuquoc–Kampot Som Basin is a Late Jurassic to Early PETROLEUM SYSTEMS Cretaceous foreland basin developed in response to the Source rock Oligocene Shales buildup of the paleo-Pacific magmatic arc. It forms an elongated, more than 500 km long sediment-filled Reservoir Oligocene – Miocene Sandstones depression extending from south-western Cambodia in the north to the central southern part of the Gulf of Thailand This Seal Oligocene – Miocene Interbeded Shales Oil and gas discoveries/shows basin is upto 150 km wide belt with its axis along Trap Tilted fault blocks approximately latitudes 1030 – 104 0 . Hydrocarbon Oil fields in adjacent Cuu Long basin. PETROLEUM SYSTEMS Occurrence Sketch of trap types of Phu Quoc MZ Basin Source Contains coal layers (the socalled “jet coal”) Block 31 - Vinh Chau Trough rock & Triassic black shales Reservoir Jurassic-Cretaceous sandstones; Late Triassic sandstones; Permian limestones (Ratthuri group) Regional seal: Tertiary marine mudstones are Seal regional seal Local seal: Interbedded shales and fault seal Structural traps: Inversion /compression Trap related structures Stratigraphic traps: Carbonate build-ups and combined structural-stratigraphic traps. Gas fields/discoveries in Khorat Mesozoic Stratigraphic distribution of source, Hydrocarbon basin, Thailand onshore. reservoir and seal of Block 31 Occurrence

Further Information Petrovietnam Further Information Petrovietnam Tel: 84-4-38252526 Tel: 84-4-38252526 Fax: 84-4-38265942 Fax: 84-4-38265942 Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam Attn: Dr. Nguyen Quoc Thap - Vice President Attn: Dr. Nguyen Quoc Thap - Vice President Cc : Dr. Phan Tien Vien - GM of Exploration Division Cc : Dr. Phan Tien Vien - GM of Exploration Division

23 24 Block 38 - Phu Quoc Basin Block 41 - Phu Quoc Basin

Block 38 - Phu Quoc Basin Block 41 - Phu Quoc Basin

• Area : 6,060 sq. km • Area : 5,020 sq. km • Location : Southwest Offshore Vietnam • Location : Southwest Offshore Vietnam • Sea level: 20 m • Sea level: 30-40 m • Seismic : 1,145 km 2D • Seismic : 800 km 2D seismic • Well : No well • Well : No well • Prospects & Leads: 4 • HC Potential in Mesozoic basin • HC Potential in Mesozoic basin Geological setting Geological setting

The Phuquoc–Kampot Som Basin is a Late Jurassic to Early The Phuquoc–Kampot Som Basin is a Late Jurassic to Early Cretaceous foreland basin developed in response to the Cretaceous foreland basin developed in response to the buildup of the paleo-Pacific magmatic arc. It forms an buildup of the paleo-Pacific magmatic arc. It forms an elongated, more than 500 km long sediment-filled elongated, more than 500 km long sediment-filled depression extending from south-western Cambodia in the depression extending from south-western Cambodia in the north to the central southern part of the Gulf of Thailand This north to the central southern part of the Gulf of Thailand This basin is upto 150 km wide belt with its axis along basin is upto 150 km wide belt with its axis along approximately latitudes 1030 – 104 0 . approximately latitudes 1030 – 104 0 .

PETROLEUM SYSTEMS PETROLEUM SYSTEMS Source Contains coal layers (the socalled “jet coal”) Source Contains coal layers (the socalled “jet coal”) rock & Triassic black shales rock & Triassic black shales Reservoir Jurassic-Cretaceous sandstones; Late Triassic Reservoir Jurassic-Cretaceous sandstones; Late Triassic sandstones; Permian limestones (Ratthuri group) sandstones; Permian limestones (Ratthuri group) Regional seal: Tertiary marine mudstones are Regional seal: Tertiary marine mudstones are Yallow Marker (Jurasic) Seal regional seal Seal regional seal Local seal: Interbedded shales and fault seal Local seal: Interbedded shales and fault seal Structural traps: Inversion /compression Structural traps: Inversion /compression Trap related structures Trap related structures Stratigraphic traps: Carbonate build-ups Stratigraphic traps: Carbonate build-ups and and combined structural-stratigraphic traps. combined structural-stratigraphic traps.

Gas fields/discoveries in Khorat Mesozoic Gas fields/discoveries in Khorat Mesozoic Hydrocarbon Hydrocarbon basin, Thailand onshore. Occurrence basin, Thailand onshore. Sketch of trap types in Phu Quoc MZ basin Occurrence

Further Information Further Information Petrovietnam Petrovietnam Tel: 84-4-38252526 Tel: 84-4-38252526 Fax: 84-4-38265942 Fax: 84-4-38265942 Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam Attn: Dr. Nguyen Quoc Thap - Vice President Attn: Dr. Nguyen Quoc Thap - Vice President Mesozoic Prospect Cc : Dr. Phan Tien Vien - GM of Exploration Division Structural Elements Cc : Dr. Phan Tien Vien - GM of Exploration Division in Phu Quoc MZ basin and Lead

25 26 Block 43 - Phu Quoc Basin Block 44 - Phu Quoc Basin

Block 43 - Phu Quoc Basin Block 44 - Phu Quoc Basin

• Area : 4,850 sq. km • Area : 4,760 sq. km • Location : Southwest Offshore Vietnam • Location : Southwest Offshore Vietnam • Sea level: 20 m • Sea level: 20 m • Seismic : 2,461 km 2D seismic • Seismic : 1,109 km 2D seismic • Well : No well • Well : No well • Prospects & Leads: 5 • Prospects & Leads: 2 • HC Potential in Mesozoic basin • Potential in Mesozoic basin Geological setting Geological setting The Phuquoc–Kampot Som Basin is a Late Jurassic to Early The Phuquoc–Kampot Som Basin is a Late Jurassic to Early Cretaceous foreland basin developed in response to the Cretaceous foreland basin developed in response to the buildup of the paleo-Pacific magmatic arc. It forms an buildup of the paleo-Pacific magmatic arc. It forms an elongated, more than 500 km long sediment-filled elongated, more than 500 km long sediment-filled depression extending from south-western Cambodia in the depression extending from south-western Cambodia in the north to the central southern part of the Gulf of Thailand This north to the central southern part of the Gulf of Thailand This basin is upto 150 km wide belt with its axis along basin is upto 150 km wide belt with its axis along approximately latitudes 1030 – 104 0 . approximately latitudes 1030 – 104 0 .

PETROLEUM SYSTEMS PETROLEUM SYSTEMS Source Contains coal layers (the socalled “jet coal”) Source Contains coal layers (the socalled “jet coal”) rock & Triassic black shales rock & Triassic black shales Jurassic-Cretaceous sandstones; Late Triassic Reservoir Jurassic-Cretaceous sandstones; Late Triassic Purple Marker (Carbon) sandstones; Permian limestones (Ratthuri group) Reservoir sandstones; Permian limestones (Ratthuri group) Regional seal: Tertiary marine mudstones are Regional seal: Tertiary marine mudstones are Seal regional seal Orange Marker (Permian) Seal regional seal Local seal: Interbedded shales and fault seal Local seal: Interbedded shales and fault seal Structural traps: Inversion /compression Structural traps: Inversion /compression Trap related structures Trap related structures; Stratigraphic traps: Carbonate build-ups and Stratigraphic traps: Carbonate build-ups and combined structural-stratigraphic traps. Structure combined structural-stratigraphic traps. 44-A Hydrocarbon Gas fields/discoveries in Khorat Mesozoic Gas fields/discoveries in Khorat Mesozoic Hydrocarbon Occurrence basin, Thailand onshore. basin, Thailand onshore. Occurrence

Further Information Further Information Petrovietnam Petrovietnam Tel: 84-4-38252526 Fax: 84-4-38265942 Tel: 84-4-38252526 Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam Fax: 84-4-38265942 Attn: Dr. Nguyen Quoc Thap - Vice President Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam Attn: Dr. Nguyen Quoc Thap - Vice President Cc : Dr. Phan Tien Vien - GM of Exploration Division Structural Elements Mesozoic Prospect in Phu Quoc MZ basin and Lead Cc : Dr. Phan Tien Vien - GM of Exploration Division Structural Elements Mesozoic Prospect in Phu Quoc MZ basin and Lead

27 28 Block 47/01 - Phu Quoc Basin Block 48/05 - Malay-Tho Chu-Phu Quoc Basin

Block 47/01 - Phu Quoc Basin Block 48/05 - Malay-Tho Chu-Phu Quoc Basin

• Area : 5,850 sq. km • Area : 4,260 sq. km • Location : Southwest Offshore Vietnam • Location : Southwest Offshore Vietnam • Sea level: 20-50 m • Sea level: 50 m • Seismic : 1,457 km 2D seismic • Seismic : 2,311 km 2D seismic • Well : No well • Well : No well • Prospects & Leads: 5 MZ • HC Potential for Cenozoic and Mesozoic structural traps • Potential in Mesozoic basin Geological setting Geological setting The Malay basin is a NW-SE trending asymmetric feature, 500 km long and 200 km wide, with a steep southwestern The Phuquoc–Kampot Som Basin is a Late Jurassic to Early margin and more than 8,000 meters of Tertiary fill. The Cretaceous foreland basin developed in response to the build- origin of this basin is related to major Paleogene plate up of the paleo-Pacific magmatic arc. It forms an elongated, tectonic movements which led to the collision of India with more than 500 km long sediment-filled depression extending Eurasia and the resultant opening of the South China and from south-western Cambodia in the north to the central Andaman seas. The SW VietNam offshore basin is located in southern part of the Gulf of Thailand This basin is upto 150 NE flank of MaLay basin. km wide belt with its axis along approximately latitudes 0 0 103 – 104 . PETROLEUM SYSTEMS Proven petroleum basin containing oil and gas PETROLEUM SYSTEMS fields/discoveries in Cenozoic basin Source Contains coal layers (the socalled “jet coal”) Source Oligocene lacustrine organic mater and mixture of rock & Triassic black shales rock lacustrine and terrestrial organic material, oil Reservoir Jurassic-Cretaceous sandstones; Late Triassic prone generation. sandstones; Permian limestones (Ratthuri group) Lower Miocene source rocks are mainly gas prone with minor oil potential; they contain mainly Regional seal: Tertiary marine mudstones are kerogen type III and a mixture of type I & III. Seal regional seal Purple Marker (Permian) Local seal: Interbedded shales and fault seal Reservoir Miocene deltaic clastic Structural traps: Inversion /compression Seal Local interbedded shales and regional Trap related structures Late Mio & Pliocene shales Stratigraphic traps: Carbonate build-ups and combined structural-stratigraphic traps. Trap Fault ed closure anticlines, stratigraphy traps Hydrocarbon Gas and condensate fiield s in adjacent Gas fields/discoveries in Khorat Mesozoic Hydrocarbon Occurrence Blocks B&52/97. Occurrence basin, Thailand onshore.

Further Information Further Information Petrovietnam Petrovietnam Tel: 84-4-38252526 Fax: 84-4-38265942 Tel: 84-4-38252526 Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam Fax: 84-4-38265942 Attn: Dr. Nguyen Quoc Thap - Vice President Add: 18 Lang Ha Str. Ba Dinh District, Hanoi, Vietnam Attn: Dr. Nguyen Quoc Thap - Vice President Cc : Dr. Phan Tien Vien - GM of Exploration Division Structural Elements Mesozoic Prospect in Phu Quoc MZ basin and Lead Cc : Dr. Phan Tien Vien - GM of Exploration Division

29 30 Investment Opportunity in Blocks 148 - 149, Offshore Vietnam

Petrovietnam Exploration Production Corporation in Pre-Tertiary fractured basement, Oligocene - Ltd., (“PVEP”) is currently operating the prospective lower Miocene lacustrine and fluvial channels clastic Blocks 148 - 149, Phu Khanh Basin offshore Vietnam reservoirs and Miocene carbonates. Fractured and is seeking a strategic partner to participate in basement is considered to be a significant reservoir exploration of this Block by means of farm out in the where 80 percent of hydrocarbon production are amount up to 60% of participating interests within recovered from in nearby basins such as Cuu Long the Contract. and Nam Con Son. Oil was also discovered in carbonate rocks by drilling the well 124-CMT-1X in The Contract of the Block 124. Blocks 148 - 149 Seismics line crossing the well CMT-1X was signed on Exploration history rd Prospects March 03 , 2011 02 wells were drilled in the Block 124 just beside Six (06) prospects have been identified with total and became these Blocks in the east targeting in Miocene clastic th OIIP predicted to be about 10,064.92 MMSTB in effective on April , and carbonate rocks, in which oil was discovered which the three most promising ones are 148A, 148B 2011. The blocks the Middle Miocene carbonates of the well 124- encompasses an and 149B due to highly ranking for their petroleum CMT-1X. No hydrocarbon was found in Oligocene area of ~ 5,000 km system. The main potential structures which have Lower Miocene lacustrine and fluvial channels 2D and locate on been found in these Blocks are 04 ways or 03 ways sands but their porosity is predicted to range from the western part of clossures. 20-30%. About 5,000 km 2D were acquired in the Phu Khanh Basin. Prospects Location Map, Blocks 148 - 149 The water depth in Blocks 148 - 149. this area ranges be made directly with any other employees of PVEP from 2000 - or related entities. 2600m. PSC is Mr. Pham Ngoc Khue - General Manager of approved to last 30 years, in which 07 Location of the Blocks 148 -149, Investment & Business Development of PVEP Tel: years are planned offshore Vietnam + 84 (4) 3772 6001 Fax: + 84 (4) 3772 6027 Email: for the 02 periods of exploration (04 years for the [email protected] first firm period and the rest 03 years for the second IMPORTANT NOTICE & DISCLAIMER optional one). This information is provided only to assist parties to determine if Key opportunity highlights they wish to continue to evaluate the asset. PVEP and their Clastics in the well 124-HT-1X respective affiliates, officers, directors, employees, and • Oil was discovered in the middle Miocene representatives make no representations or warranties, express carbonate rocks when drilling the well 124-CMT- Stratigraphy & Hydrocarbon system Process: or implied, concerning the fairness, quality, accuracy or 1X with the porosity is predicted to be about completeness of any such information or opinions contained in Following execution of a confidentiality agreement this Document. 18.6%. and necessary arrangement, interested parties will • Oligocene - Lower Miocene lacustrine and fluvial The information set out above is preliminary and should not be be provided with access into physical data room in relied upon for any purpose. Interested parties should (and will channels clastic reservoirs seem to be potential PVEP's Office in Hanoi to review data and other be deemed to have made) conduct their own investigation and with porosity range from 20 - 30% (calculated analysis of the opportunity, PVEP and its subsidiaries, their from the well 124-HT-1X) documentation. PVEP personnel will provide an business, prospects, results of operations. overview presentation and will be available for • Upper Oligocene - Lower Miocene lacustrine All of the documents contained herein are confidential in nature coaly shales have come into the oil generating technical and commercial discussions. and should not be excerpted from, copied, distributed, window with TOC ~ 5%, HI ~ 700 mg/g. reproduced or used in any manner without the express written Contact consent of PVEP. Kerogene is classified to be types I and III. All comments or queries regarding the process or This document does not constitute an offer or invitation for the Regional context the Opportunity should be addressed to the persons sale or purchase of any type of securities, interests or rights or Blocks 148 - 149 locate in Phu Khanh Basin, offshore any assets, business or undertaking described herein and shall whose contact details are below. No contact should Vietnam where hydrocarbon have been discovered Oil discovered in the well 124-CMT-1X not form the basis of any contract.

31 32

2. Gas Industry

Petrovietnam Gas Project Map Gas Industry Overview

Petrovietnam has been exploring approximately 94 capacity of 2 billion cubic metres of gas per year; billion cubic metres of gas up to September 2013. In Phu My – My Xuan – Go Dau low-pressure gas parallel, Petrovietnam is currently operating several pipeline system with capacity of 1 billion cubic significant gas pipelines as follow: metres of gas per year. Cuu Long Basin gas pipeline system with capacity of From 2025, Petrovietnam plans to explore 14 to 19 2 billion cubic metres of gas per year; billion cubic metre of gas annually. Nam Con Son gas pipeline system with capacity of 7 billion cubic metres of gas per year In this industry, Petrovietnam welcome all potential Ca Mau – PM3 gas pipeline system with capacity of investors who give interest in Son My LNG Terminal 2 billion cubic metres of gas per year; with total investment capital of US$ 1.3 billion. We are willing to transfer the maximum of 49% of Phu My – Nhon Trach gas pipeline system with project equity.

Partnership with PVN in Gas Industry

FS Stage FEED/EPC stage Construction stage Operational stage

LNG Import Terminal Son My

The opportunity is described in detail on the following pages.

LNG Import Terminal Son My Owner: PV Gas

3

33 34

3. Refineries & Petrochemicals LNG Import Terminal Son My

Project Overview Key investment considerations

• Key business activities: import and export • Market demand Refineries & Petrochemicals the LNG – The difference between Southeast region's gas • Location: Son My 1 industrial zone, Binh supply and demand will be rapidly increased In 2010, Petrovietnam put into operation the first oil named Nghi Son Refinery with capacity of 10 million Thuan province refinery with capacity of 6.5 million tons per year tons per year and investment capital of US$ 9 • Capacity: from 1.0MMTPA LNG in 2104-2015 up to 5.0MMTPA in 2023-2024. and total investment capital of US$ 3 billion. billion. Phase Time of operation Capacity Besides, we built the condensate processing plant Phase 1a 2018 1.8 mtpa – LNG will be supplied to Son My Power Petrovietnam has been also operating 2 fertilizer with capacity of 130 thousand tons per year. plants with capacity of 800.000 tons per year each. Phase 1b Before 2020 3.6 mtpa Complex from 2018; Phu My industrial Consequently, we have been producing In the year 2012, we were happy to announced 1.4 Phase 2 2023 6.0 mtpa customers at Ba Ria province at latter phases approximately 6 billion gasoline per year which million tons of fertilizer product. Beside fertilizer Phase 3 2026÷2030 9.6 mtpa • Competitive advantages accounts for 30% of total demand nationwide. plants and oil refineries, we also invested in other • Facilities – Among First – movers advantage: This is the bio-fuel processing plants and polyester We have started construction of the second refinery – Total area: 100 ha of land; second LNG project within Vietnam which manufacturing plant. – Onshore configuration: will gain a solid customer base  LNG Transfer system Partnership with PVN in refineries & petrochemicals – Secured with high potential demand: Son My  LNG Storage tanks (2x160,000 m3 , Power Complex will consume most of LNG membrane technology, 9% Ni-steel self- FS Stage FEED/EPC stage Construction stage Operational stage supporting container) product for phase 1  BOG Handling system with capacity of Economic performance Binh Son Refining & 3,903-4,037m3/hr Petrochemical Company Ltd  Pressurization • Investment capital:  Vaporization Petrovietnam – Phase 1a: US$ 1.296 million Camau Fertilizer Company Ltd  Gas send-out including metering system  Safety systems – Phase 1b: + US$ 16 million = US$ 1.313 million Petrovietnam Petrochemical &  Supporting infrastructure – Phase 2: + US$ 37 million = US$ 1.340 million Textile Fiber JSC. (PVTex) – Offshore configuration: • IRR: 12% (FS) Cai Mep Condensate Processing Plant  Jetty Head (Unloading Platform) with capacity of 75,000 m3- 216,000 m3 Cooperation proposal  Jetty Trestle with 2.7 km length Petrovietnam Bio-fuels JSC.  Sea Water In-Take, Sea Water Out-Fall … • Transaction structure: Establish a Joint • Ownership: PVGas venture company to develop the project in Orient Bio-fuels JSC. Current Status & Schedule construction and operation period • Maximum equity ownership offering: 49% • Completed works: The opportunities are described in detail on the following pages. – FS draft • Preferable criteria for investor: • On-going works: – Strong financial capability – FS approval in Q4 2013 – Capability of long-term LNG supply • Future plan: – Feed: 9 months – EPC contract biding: 6-12 months – EPC implementation: 45 months – First gas: 2019-2020

35 36 Binh Son Refining and Petrochemical Company Limited Petrovietnam Refineries & Petrochemicals Map Company Overview  Maximize crude flexibility & crude cost saving: 100% imported crude oil Petrovietnam Bio-fuels JSC. Charter capital: ~US$1.7 billion  Minimize modifications of major Owner: PV Oil Key business activities: Producing LPG; existing facilities • Unleaded Gasoline; Jet-A1/kerosene; Diesel; FO;  Minimize operating & investment costs Petrovietnam Petrochemical & • Polypropylene, Sulfur, bio fuel, CO2, DDFS,  Satisfy stringent products & Textile Fiber JSC. (PVTex) environmental specifications. Owner: PVN Location: Quang Ngai province - Central of Vietnam • Ownership structure: PVN (100%) Key investment considerations

• Key historical milestones Market demand: – Vietnam's market is currently relying on import. Key historial milestone: • Dung Quat Refinery supplies approximately – 1998: Ground breaking ceremony of Dung Quat 30% of the total country's petroleum demand. • Refinery Competitive advantages – 5/2008: Establishment of BSR – Import Tariff: tax duty for gasoline and diesel 7%, • LPG 5% and petrochemical product 3%, added in – 2010: Commenced commercial operations of the domestic selling price Dung Quat Refinery – Tax incentives  Total area: 338 ha of land and 471 ha of sea  CIT:  Capacity: Existing plant: 148 KBSD; 6.5 o 10% for first 15 years from million tons/year; Upgrading & Expanding commencement of operation Phase (DFS phase): 44 KBSD, increased up o Exemption for 4 years from the first to 10 million tons/year (including existing year of making profits plant) o 50% reduction for the following 9 years  Investment capital (existing plant): ~ US$3.0  Personal Income Tax: 50% reduction Binh Son Refining & billion for expert Petrochemical Company Ltd  Advanced technology: Axens (France): RFCC/  Import duty exemption on machinery, Owner: PVN LCO HDT;UOP (USA): NHT, ISOM, CCR equipment to form fixed assets and certain materials for 5 years from Platforming; Merichem (USA): LTU, NTU, commencement of operation KTU, CNU  Exemption from land rental and land – 2009: Dung Quat Bio-ethanol Plant investment use fee for the entire project life project approval – Stable fuel supply: A long-term, stable and  Total investment: US$ 98.098 million comprehensive oil supply source assured by PV Oil  NPV= US$23 million  IRR = 16.8% Financial Performance Production: Ethanol (100 million liters / year) USD million 2011 2012 • Cooperation proposal Orient Bio-fuels JSC. Total revenue 5,296.8 5,977 Owner: PV Oil Transaction structure: Establish a Joint venture Profit before tax (-140.9) (-58.95) company to develop the project / Transfer of Net profit (-140.9) (-58.95) • ownership from PVN Maximum equity ownership offering: Cai Mep Condensate Processing Plant Development plan 2013 – 2015 Owner: PV Oil – 25% share of PVN in BSR (for both existing plant • and the expansion phase in the 2012-2015 USD million 2013 2014 2015 period) or more (to be discussed) Preferable criteria for investor: Total revenue 6,492 5,567 6,492 – Strong Financial Capability Petrovietnam Camau Fertilizer Company Ltd • Profit before tax 119 119 210 3 Owner: PVN – Strong Capability of supplying competitive oil source since upgrading Dung Quat Refinery Net profit 119 113.1 199.5

37 38 Ca Mau Fertilizer Company Limited Petrovietnam Petrochemical & Textile Fiber Joint Stock Company(PVTex)

Company Overview Key investment considerations Company Overview Key investment considerations

Charter capital: US$ 153 million Market demand: Charter capital: ~US$ 100 million Market potential: Though domestic demand for – Fertilizer consumption of Southern provinces Total asset: US$ 325 million fiber and textile materials has been growing steadily at • Total asset: US$647.6 million • • • accounts for approximately 70% of the total 02 Key business activities: Producing and trading 10%-15% annually, material sources remain relying on • Key business activities: Produce fertilizers & million tons urea consumption of the country. • polyester fiber, and chemicals, and related services import. PVTex has the potential to fulfill the 30% of nitrogen compounds Especially, demand for fertilizer of Mekong Delta • • Key customers: large textile and garment producers domestic textile and garment material market; Location: Ca Mau Gas-Power-Fertilizer Complex, River accounts for about 50%. located across the country including group, Competitive advantages: Khanh An Commune, U Minh District, Ca Mau – While located in the southern part of Vietnam, Ca • • Phong Phu Corporation, Hanoi Textile Company, and Province Mau Fertilizer productions account for 65% of • – Large and stable customer base of Vinatex and west-southern market's demand and 30% east- NhaTrang Textile Company; Ownership structure: PVN (100%) Phong Phu southern market's demand. Current ownership: • Competitive advantages – PVN: 56%, PVFCCo: 25%, Vinatex: 14%, Phong – Advanced technology and modern equipment: Key historical milestones • – Unique product specification: granular urea is the Phu Corp.: 5% Thanks to advanced imported technology, Dinh • newest and the most advanced product range Major project: Dinh Vu polyester fiber factory Vu polyester plant can produce various types of • 2008-2011: Construction of Ca Mau fertilizer plant worldwide which helps plants absorbing nutrients PSF and Filament products; with efficiently. Granular urea is therefore preferable to • Key historical milestones – Capacity: 800,000 urea tons/year normal urea in international consumption. – Corporate Income Tax: 10% for the first 15 years – Corporate Income Tax: 10% for the first 15 years – 3/2008: Comprehensive co-operation agreement put in operation (including exemption for 4 years – Production: Granular urea put in operation (including exemption for 4 years between Vietnam National Oil and Gas Group (PVN) since the first profit-making year and 50% – Technology: main equipment imported from since the first profit-making year and 50% and Vietnam National Textile and Garment Group deduction for the next 9 years); EU/G7 deduction for the next 9 years); (Vinatex), establishing Petrochemical and Textile • 2011: Establishment of Ca Mau fertilizer Company – Advantageous location: Ca Mau Fertilizer plant is Fiber Joint Stock Company (PVTEX JSC.,); Financial Performance located next to Mekong Delta, which is the biggest limited – 8/2008: Long-term purchasing contract signed farming area nationwide and the main gate for between PVTex and Vinatex; 3-year supply contracts USD million 2014 2015 • 7/2013: Reach a million ton of Granular urea. exporting products to Cambodia, Thailand. with Siam Mitsui PTA Co., Ltd (Thailand), Marubeni In addition, Ca Mau province is among the urea Total revenue 231.4 289.3 Corp (Japan), Misubishi Corp (Japan), and Sojitz consumption hub where the plant will benefit from Profit before tax (-10.92) 2.372 Corp (Japan); Financial Performance lower distribution cost compared to other regions; Profit after tax (-10.92) 2.372 – Stable fuel supply: – 7/2009: Construction of Dinh Vu polyester fiber  factory – Vietnam's first polyester plant USD million 2012 2013 (6 months) Source: block PM3 – CAA, Cai Nuoc mine and other structures of block 46  Capacity: 175.000 tons/year Cooperation proposal Total revenue 205 180 Gorvermental support for gas price  Production: Polyester staple fiber (PSF), Transaction structure: Transfer of ownership Profit before tax 36.5 31.5 Filament yarn (POY/DTY), Chip Cooperation proposal • from PVN and subsidaries Net profit 36.5 31.5  Advanced technology: licensed by Uhde Inventa Maximum equity ownership offering: 81% Transaction structure: Fischer (Germany) with almost equipment Development plan 2013 – 2015 – Transfer of ownership from from Petrovietnam manufactured and supplied by vendors from G7 • Preferable criteria for investor: • (after the equitization of PVCFC) coutries, such as: Uhde Inventa Fisher • – Strong financial capability USD million 2013 2014 2015 Maximum equity ownership offering: 49% (Germany); Neumag's (Germany) and Barmag's Preferable criteria for investor: (Germany) – Experienced in textile factory management Turnover 304 311.4 325.5 • – Strong Financial capability – 8/2009: Credit providing contract of US$225 – Experienced in Upgrading & Expanding Dung Profit before tax 42.1 27.4 29.1 • – Capability of supplying gas with competitive price million signed between PVTex and Bank for Quat Refinery Profit after tax 42.1 27.4 29.1 – Capability of Fertilizer Trading in Investment and Development of Vietnam (BIDV); International and Regional Market – Q3/2013: Full operation of Dinh Vu factory

39 40 Cai Mep Condensate Processing Plant Petrovietnam Bio-fuels Joint Stock Company

Project Overview Key investment considerations Company Overview Key Investment Considerations

• Key business activities: Gasoline, LPG, Do • Market demand: Charter capital: US$ 19,28 million Strong government's supports: – Decision 53/2012/QD-TTg, by December 1st 2014, • Location: Cai Mep Industrial zone, Vung Tau – Vietnam's market is currently relying on • Total asset: US$ 118,3 million • the production, mixing and trading of the E5 bio- province import. Key business activities: Biofuels production • fuel (traditional petrol mixed with 5 percent – Gasoline RON 92 is in the rush to replace and trading (Ethanol fuel, Biodiesel) and relating • Capacity: 500,000 tons/year • ethanol) for road vehicle use will be developed in Gasoline RON 83. Condensate is main fuel for services seven cities and provinces, including Hanoi, Hai Phong, Da Nang City, Can Tho, Quang Ngai, Ba • Total area: 14.5 ha producing Gasoline RON 92. Location: Co Tiet Commune, Tam Nong Ria-Vung Tau and . It will be • Main facilities District,Phu Tho Province • Competitive advantages • rolled out on national scale by the end of 2015. st – Condensate Distililation Unit with capacity of – Advantageous infrastructure: from existing Ownership structure: PVOil (39%) and others – As for the E10 bio-fuel, by December 1 2016, the 46,250 kg/hr plant in Cai Mep industrial zone Project: Phu Tho ethanol plant production, mixing and trading of this kind of fuel • for road vehicle use will be developed in seven – Naptha Hydrotreating Unit with capacity of – Stable fuel supply: Block 052 & Block 053 • Key Historical Milestones cities and provinces like the E5 bio-fuel, and rolled out on national scale by the end of 2017. 25,678 kg/hr – Advantageous retailer: PVOil is among the Environmental friendly: E5 gasoline is considered to – Reforming Unit with capacity of 21,081 kg/hr biggest gasoline retailer within Vietnam, 12/2007: Establishment of PetroVietnam Biofuels Joint Stock Company (PVB) produce less emission than the other gasoline accounts for 20% of the market share. • – Isomerization Unit with capacity of 21,742 kg/hr • 2009-2013: Construction of Phu Tho ethanol Favorable location and stable raw material source: plant with Accessible to nearby raw material field. Independent – Port: 60,000 DWT/year Economic performance • • – Capacity: 100,000 m3/year raw material field will be developed in near future. • Technology: Axens , Euro IV standard for gasoline • Investment capital: US$ 197,6 million – Production: Ethanol, CO2, DDFS High market demand: Demand for ethanol product in accounts for 30% of total demand – Technology: standard of IFQC and EU • Ownership: PVOil • IRR: 12,43% • within country. – Total area: 50 ha of land Product offtake: PVOIL shall off take 100% of Ethanol • NPV: US$ 25,66 million – Facility: Phu Tho Plant's product when E5 is mandated Current Status & Schedule  Raw materials storage • Cooperation proposal Corporate Income Tax: 10% for the first 15 years put in • Completed works:  Grinding system operation (including exemption for 4 years since the • • Transaction structure: Establish a Joint  Main system first profit-making year and 50% deduction for the – FS approved in 2012; venture company to develop the project in  Bio-ethanol denaturing system next 9 years); • On-going works: construction and operation period  CO2 recovery system Import tax: Import tax exemption for machineries, equipment, tools and spare parts used to make up fix • Maximum equity ownership offering: 49%  Boilers – Working with various banks for finance • assets • Preferable criteria for investor:  Sugarcane storerage arrangement; Land used Tax: Tax exemption for land leasing during  Water treatment system – Strong financial capability plant construction and following 7 years – EPC planning approved in 2014; – Experienced in petrochemical  Wastewater Treatment system •  – Construction: 2014-2016 Auxiliary system Cooperation Proposal  Supporting infrastructure Transaction structure: Transfer of ownership  Production storage from PVOil  Other necessary facilities; • Maximum equity ownership offering: 39% – Current status: Preferable criteria for investor:  Engineering: 99% completed • – Strong Financial capability  Procurement: 85%completed • – Experienced in ethanol plant management  Construction: 74% completed

41 42

4. Power generation Orient Bio-Fuels Company Limited

Company Overview Key investment considerations Power generation Charter capital: US$ 31 million Strong government's supports: Since 1995, Petrovietnam has been using gas in contributed to its total power production of 60 – Decision 53/2012/QD-TTg, by December 1st • Total asset: US$ 101.4 million • generating power. Currently, we are operating 4 gas- billion Kwh. 2014, the production, mixing and trading of Key business activities: Production, trading fired power plants with total capacity of 2.700 MW Petrovietnam biggest power projects include 4 gas- • the E5 bio-fuel (traditional petrol mixed with and related services for bio-fuels (bio-ethanol, and planning to develop other coal-fired power fired power plants, 5 coal-fired power plants, 2 • 5 percent ethanol) for road vehicle use will be bio-diesel) plants, hydropower plants and a wind power plant to hydropower plants and 1 wind power plant. developed in seven cities and provinces, enhance the total capacity up to 10.000 MW. Location: Bu Dang, Binh Phuoc province including Hanoi, Hai Phong, Da Nang City, We warmly welcome foreign investors in our Petrovietnam is now the second biggest power Can Tho, Quang Ngai, Ba Ria-Vung Tau and massive power projects such as: 5 coal-fired power • Ownership structure: PVOil (29%) and Others generator in Vietnam where Vietnam Electricity Ho Chi Minh City. It will be rolled out on plants with capacity of 1.200 MW each and with total Group (EVN) is the leader. Petrovietnam power • Project: Binh Phuoc ethanol plant national scale by the end of 2015. investment capital of US$ 1.7 billion each; 2 st production currently possesses 12% of national hydropower plants namely Hua Na and Dakring • – As for the E10 bio-fuel, by December 1 2016, Key historical milestones production, and we are planning to raise it up to 20- with capacity of 180MW and 125 MW and with the production, mixing and trading of this 25% in by 2015. In first half of 2013 only, investment capital of US$ 290 million and US$ 240 kind of fuel for road vehicle use will be 5/2009: Establishment of Orient Bio-Fuels Petrovietnam has generated 9 billion Kwh, million respectively. developed in seven cities and provinces like Company Limited (OBF) • the E5 bio-fuel, and rolled out on national Partnership with PVN in Power generation industry 2010-2012: Construction of Binh Phuoc ethanol scale by the end of 2017. plant with • Environmental friendly: E5 gasoline is considered FS Stage FEED/EPC stage Construction stage Operational stage – Capacity: 100,000 m3/year to produce less emission than the other gasoline • – Production: Ethanol Favorable location and stable raw material source: Nhon Trach 1 Thermal Power Plant – Technology: PRAJ The plant was based on one of the biggest raw • – Total area: 40 ha of land material field within country Hua Na Hydro JSC. – Facility: Financial Performance  Raw materials storage DakDrinh Hydro JSC.  Grinding system Development plan 2013 – 2015 Vung Ang 1 Coal-fired Power Plant  Main system USD million 2013 2014 2015  Bio-ethanol denaturing system Total revenue 49,4 761,9 595,6 Thai Binh 2 Coal-fired Power Plant  CO2 recovery system Profit before tax (11,66) (8,85) 7,04  Boilers Long Phu 1 Coal-fired Power Plant  Sugarcane store rage Cooperation proposal  Water treatment system Song Hau 1 Coal-fired Power Plant Transaction structure: Transfer of ownership  Wastewater Treatment system from PVOil  Auxiliary system • Quang Trach 1 Coal-fired Power Plant Maximum equity ownership offering: 29%  Supporting infrastructure Preferable criteria for investor: Hoa Thang 1 Wind Power Plant  Production storage • – Strong Financial capability  Other necessary facilities; • – Experienced in ethanol plant management The opportunities are described in detail on the following pages. – First commercial products: April 2012

43 44 Vung Ang 1 Coal-fired Power Plant Petrovietnam Power ProjectsMap Project Overview Key Investment Considerations

• Key business activities: Power generation • Fuel supply agreement: Local coal supplied by • Location: Ky Loi commune, Ky Anh district, Ha Vinacomin; Tinh province • Competitive advantages: • Capacity: 1,200 MW (2 units of 600 MW) – Government support: Thai Binh 2 Power Plant • Total area: 183 ha  Tax incentives: Owner: PVN CIT: • Main parameters: o  10% for first 15 years from – Rated output of unit (raw): 600MW(RO); commencement of operation; – Unit configuration: 1 sub-critical boiler, 1  Exemption for 4 years from the first turbine, 1 generator; Hua Na Hydro JSC. year of making profits; Owner: PV Power – Maximum average operation hours: 6,500  50% reduction for the following 9 hour/year; years; Vung Ang 1 Power Plant – Auxiliary power rate: ≤ 7.8 %; Import duty exemption for raw materials, Owner: PVN. o – Total coal consumption: 3.2 million tons/year, machineries, equipment, tools and spare Quang Trach 1 Power Plant heating value of around 5,050 Kcal/Kg and ash parts which cannot be produced locally Owner: PVN content of 25%; to form fixed assets; – Main fuel: Domestic coal (No 5, Vietnam's  Government policy of electricity tariff to standard); ensure investors recovering investment and making profit. – Secondary fuel: The plant secondary fuel during  Government policy to support VND start-up and support firing will be fuel oil. devaluation issue in foreign currency loans Production: 7.8 billion kWh/year. – – Project financing: Completed financial • Technology: Sub-critical technology arrangement for owner equity and loans with • Project life and PPA: 30 years Government guarantee Dak Drink Hydro JSC. Owner: PV Power • Current ownership: PVN (100%) – Advantageous location: Easy access to deep- water port, national road and other Current Status & Schedule infrastructure.

• Investment license: No. 28221000009 first Economic Performance issued on 12/2/2008, amended on 2/4/2010 by • Investment capital: US$ 1,595 million management board of Vung Ang Economic Zone, Ha Tinh Province; • Financing source: PVN, ECAs, commercial loans • NPV: US$ 116.72 million (FS) • Schedule: • IRR: 12% (FS) – PAC Unit 1: 6/2014; • Payback period: 14 years (FS) – PAC Unit 2: 12/2014; • Completed works: Cooperation Proposal Hoa Thang Wind Power Plant – Design works, construction, equipment supply Owner: PV Power • Transaction structure: are well prepared for boiler first firing in 9/2013 – Establish a Joint venture company with PVN in Nhon Trach 1 Thermal Power Plant – Principle long-term coal supply agreement Owner: PV Power operation period • On-going works: • Maximum equity ownership offering: 49% Long Phu 1 Power Plant – Coal supply/coal handling agreement sign • Preferable criteria for investor: Owner: PVN annually – Strong financial capacity Song Hau 1 Power Plant – PPA in negotiation with EVN – Experience in operating and managing coal-fired Owner: PVN power plant 3 – Plant taking over, running test, operation

45 46 Thai Binh 2 Coal-fired Power Plant Long Phu 1 Coal-fired Power Plant

Project Overview Key Investment Considerations Project Overview Key Investment Considerations

• Key business activities: Power generation • Fuel supply agreement: Local coal supplied by • Key business activities: Power generation • Fuel supply agreement: Signed Coal Off - take • Location: My Loc commune, Thai Thuy district, Vinacomin; • Location: Long Duc commune, Long Phu district, Framework Agreement (COFA). Thai Binh province • Competitive advantages: Soc Trang province, Vietnam • Competitive advantages: Government support: • Capacity: 1,200 MW (2 units of 600 MW) – Government support: • Capacity: 1200 MW (2 units of 600 MW) – Tax incentives: • Total area: 153 ha  Tax incentives: • Total area: 115,2 ha CIT: • Main parameters: o CIT: • Main parameters o  10% for first 15 years from – Rated output of unit (raw): 600MW(RO);  10% for first 15 years from – Rated output of unit (raw): 600 MW (RO); commencement of operation; commencement of operation; – Unit configuration: 1 sub-critical boiler, 1 – Unit configuration: 1 super-critical boiler & 1  Exemption for 4 years from the first  turbine, 1 generator; Exemption for 4 years from the first turbine & 1 generator; year of making profits; year of making profits; – Maximum average operation hours: 6,500 – Maximum average operation hours: 6,500  50% reduction for the following 9  50% reduction for the following 9 hour/year; hour/year; years; – Auxiliary power rate: ≤ 6.4 %; years; Import duty exemption for raw – Auxiliary power rate: ≤ 8.5 %; o – Total coal consumption: Around 3 million o Import duty exemption; materials, machineries, equipment, – Total coal consumption: 3.2 million tons/ year; tons/year;  Government policy of electricity tariff to tools and spare parts which cannot be produced locally to form fixed assets. – Main fuel: Domestic coal (No 5, Vietnam's ensure investors recovering investment – Main fuel: Coal imported from / and making profit. Australia, having low heating value of around  Government policy of electricity tariff to standard); ensure investors recovering investment and  5,725 Kcal/ Kg and ash content of around 15% – Secondary fuel: The plant secondary fuel during Government policy to support VND making profit. devaluation issue in foreign currency loans (max) start-up and support firing will be fuel oil.  Government policy to support VND – Secondary fuel during start-up and support – Production: 7.8 billion kWh/year. – Project financing: Expected to obtain devaluation issue in foreign currency loans Government guarantee for owner's equity and firing will be fuel oil. • Technology: Sub-critical technology – Project financing: Expected to obtain Government loans – Production: 7.8 billion kWh/year. guarantee for owner's equity and loans • Project life and PPA: 30 years – Advantageous location: • Technology: Super critical technology – Advantageous location: • Current ownership: PVN (100%) Good access to port and national road; • Project life and PPA: 30 years  Coal, oil, limestone, equipment and materials for project during construction could be Current Status & Schedule Nearby coal source • Current ownership: PVN (100%) transported without difficulties;  • Investment license: No. 08121000230 issued Economic Performance Current Status & Schedule Good access to national road; on 12/01/2012 by Thai Binh Provincial People's  Nearby Mekong delta's coal transhipment terminal • Investment capital: US$ 1,656 million Committee • Investment license: No. 59121000059 issued on Economic Performance • Schedule: • Financing source: PVN, ECA source and 08/05/2009 by Soc Trang Provincial People's commercial loan – COD unit 1: 2015 Committee; • Investment capital: US$ 1,595 million • NPV: US$ 301.8 million (FS) • Financing source: PVN, ECAs, commercial loans – COD unit 2: 2016 • Schedule: • IRR: 12% (FS) • NPV: US$ 175 million (FS) • Completed works: – COD Unit 1: 2016 • Payback period: 16 years (FS) • IRR: 12% (FS) – FEED – COD Unit 2: 2017 • Payback period: 15 years (FS) – Site clearance Cooperation Proposal • Completed works: Cooperation Proposal – EPC contractor selection – FS, FEED & cost estimation • Transaction structure: – Main equipment supply contractor selection – Land clearance and settlement for main plant area • Transaction structure: • On-going works: – Establish a Joint venture company with PVN to – Establish a Joint venture company with PVN to develop the project in construction and – Foundation processing – Detail design develop the project in construction and operation operation period – Infrastructure project period – Financing arrangement • Maximum equity ownership offering: 49% – EPC contractor selection – Coal supply – Construction • Preferable criteria for investor: • On-going works: • Maximum equity ownership offering: 49% – Coal supply/coal handling agreement • Preferable criteria for investor: – Strong financial capacity – Financial arrangement finalization – Strong financial capacity – Experience in operating and managing coal- – Detail design – PPA in negotiation with EVN fired power plant – Experience in operating and managing coal-fired power plant

47 48 Quang Trach 1 Coal-fired Power Plant Song Hau 1 Coal-fired Power Plant

Project Overview Key Investment Considerations Project Overview Key Investment Considerations

• Key business: Power generation • Fuel supply agreement: Signed Coal Off - take • Key business activities: power generation • Fuel supply agreement: Signed Coal Off - take Framework Agreement (COFA) Framework Agreement (COFA). • Location: Quang Dong commune, Quang Trach • Location: Phu Huu A commune, Chau Thanh • Competitive advantages: • Competitive advantages: district, Quang Binh province district, Hau Giang province – Government support: – Government support: • Capacity: 1,200 MW (2 units of 600 MW)  Tax incentives: • Capacity: 1200 MW (2 units of 600 MW) Tax incentives: • Total area: 199 ha CIT: o • Total area: 115,2 ha o CIT: • Main parameters: 10% for first 15 years from  10% for first 15 years from commencement of operation; • Main parameters: – Rated output of unit (net): 600 MW; commencement of operation; Exemption for 4 years from the first – Rated unit output (raw): 600 MW (RO);  Exemption for 4 years from the first – Unit configuration: 1 super-critical boiler, 1 year of making profits; year of making profits; turbine, 1 generator; – Unit configuration: 1 supercritical boiler, 1 50% reduction for the following 9  50% reduction for the following 9 turbine, 1 generator; – Maximum operation hours: 6,500 hours/ year years; years; Import duty exemption for raw materials, Maximum average operation hours: 6,500 – Auxiliary power rate ≤ 7.8%; o – o Import duty exemption for raw machineries, equipment, tools and spare hours/ year; materials, machineries, equipment, – Total coal consumption: 3.1 million tons/ year, parts which cannot be produced locally to tools and spare parts which cannot be heating value of around 5,500 Kcal/Kg and form fixed assets; – Auxiliary power rate: ≤6.4%; produced locally to form fixed assets.  Government policy of electricity tariff to ash content of 11%; – Total coal consumption: 3.2 million tons/year;  Government policy of electricity tariff to – Main fuel: imported coal from Australia or ensure investors recovering investment and ensure investors recovering investment and making profit. – Total oil consumption: ~6,000 tons/ year (2 units); Indonesia making profit. – Advanced technology: Super critical technology  Government policy to support VND – Secondary fuel during start-up and support – Main fuel: Coal imported from Indonesia/ combined with advantaged combustion devaluation issue in foreign currency loans firing will be fuel oil technology (low SOx), ESP, FGD equipments, Australia, having low heating value of around 5,725 Kcal/ Kg and ash content of around 15%; – Project financing: Expected to obtain Government – Production: 8.4 billion kWh/ year this project will not only meet environmental guarantee for owner's equity and loans requirements but also reduce electricity price. – Secondary fuel during start-up and support – Advantageous location: • Technology: Super critical technology – Advantageous location: Located near to deep- firing will be fuel oil  • Project life and PPA: 30 years water port that allows 70,ooo DWT vessel to Coal, oil, limestone, equipment and materials transfer – Production: 7.8 billion kWh/year for project during construction could be • Current ownership: PVN (100%) transported without difficulties; Economic Performance • Technology: Super critical technology  Good access to national road; Current Status & Schedule • Project life and PPA: 30 years  Nearby Mekong delta's coal transhipment terminal • Investment Capital: US$ 1,695 million • Investment license: No. 29221000021 • Financing source: PVN, ECAs, commercial loans • Current ownership: PVN (100%) Economic Performance • NPV: US$ 193 million (FS) issued on 06/04/2011 by management board of Current Status & Schedule • Investment capital: US$ 1,595 million Quang Binh Economic Zone, Quang Binh • IRR: 12% (FS) • Financing source: PVN, ECAs, commercial loans • Payback period: 15 years (FS) • NPV: US$ 175 million (FS) Province • Schedule: • IRR: 12% (FS) Cooperation Proposal • Schedule: – COD Unit 1: 2017 • Payback period: 15 years (FS) – COD unit 1 in QI/2018 • Transaction structure: – COD Unit 2: 2018 Cooperation Proposal COD unit 2 in QIII/2018 – – Establish a Joint venture company with PVN to • Completed works: • Completed works: develop the project in construction and • Transaction structure: – FEED operation period – Establish a Joint venture company with PVN to – FS, FEED & cost estimate develop the project in construction and operation – Equipment supply & financing arrangement – Site clearance – Land clearance and settlement for main period – Coal supply – Infrastructure project – Coal supply plant area • Maximum equity ownership offering: 49% • On-going works: • Maximum equity ownership offering: 49% • On-going works: • Preferable criteria for investor: • Preferable criteria for investor: – EPC contractor selection – Strong financial capacity – Cost estimation – Strong financial capacity – Experience in operating and managing coal-fired – EPC contractor selection – Experience in operating and managing coal-fired power plant power plant

49 50 Nhon Trach 1 Thermal Power Plant Hua Na Hydro JSC

Project Overview Key Investment Considerations Company overview Key Investment Considerations

• Key business activities: Power generation • PPAsigned with EVN • Charter Capital: USD 96 million • Competitive advantages: • Fuel supply agreement: Long-term contract with • Location: Phuoc Khanh commune, Nhon Trach • Key business activities: – PPA signed with EVN PVGas (until 2031) district, Dong Nai province – Power generation – The project is given priority to feed 100% of • Competitive advantages: – The company owns and operates Hua Na produced power into the national grid. • Capacity: 450 MW – Government support: Hydro Power Plant (Project) – Government support: • Facilities: 2 gas turbines and steam turbines Tax incentives: • Project location: Dong Van commune, Que  Tax incentives: • Total investment: US$ 346 million o CIT: Phong district, Nghe An province o CIT: • Project life and PPA: 25 years  1 0 % for first 1 5 years from • Project capacity: 180 MW (2 units x 90 MW)  10% for first 15 years from commencement of operation: • Current ownership: PVPower (100%) commencement of operation:  Exemption for 4 years from first year of • Project capability: Annual production: 717.6  making profits; million KWh per year Exemption for 4 years from first year of making profits; Key Historical Milestones  50% reduction for the following 9 • Project main parameters:  50% reduction for the following 9 years; – Total area: 2,412 ha; – 03/2007: Started construction of Nhon years; o Tax exemption on sales of CERs. – Catchment area: 5,345 km2 ; Trach 1 Import duty exemption for 3 o o Import duty exemption for construction – Mean flow: 94.63 m /s; – 05/2008: First turbine GT11 came into materials, machineries, equipment, tools construction materials, machineries, Full supply level: 240 m; operation and spare parts which cannot be produced – equipment, tools and spare parts which – Minimum operating level: 215 m; cannot be produced locally to form fixed – 07/2008: The turbine GT12 came into locally to form fixed assets. 3 assets; operation – Good location and well - developed – Gross storage: 569.35 million m ; infrastructure: Established in Dong Nai - the 3  Reduced land rental; – 04/2009: The turbine ST18 came into – Active storage: 390.99 million m ; mostdynamic developing Southeast Province; – Project financing: Loans from BIDV with operation – Dead storage: 178.36 million m3 ; – Expected to optimize plant efficiency by favorable rate. 2 upgrading plant capacity by 30 MW with low – Surface area at full supply level: 21.3 km . Financial Performance investment cost • Project life and PPA: 40 years Project economic performance • Current ownership: PV Power (82.2%); • Investment capital: US$ 288 million Financial performance Cooperation Proposal Lilama, MB Bank, Bac A Bank and others (17.8%) • Financing source: PV Power HHC's equity USD million 2011 2012 (USD 97 million), VDB (USD 128 million), Revenue 184.17 163.97 Current Status & Schedule • Transaction structure: commercial loans (USD 35 million) and others Profit before tax 2.51 12.94 • NPV: US$ 26 million (FS) – Transfer of ownership from PV Power • Investment license: No. 271110000013 issued • IRR: 9.69% (FS) Electricity output 3.31 2.61 • Maximum equity ownership offering: on 26/3/2008 by Nghe An Provincial People's 49% • Payback period: 12 years (FS) (billion KWh) Committee • Preferable criteria for investor: Cooperation Proposal Forecast plan 2013 – 2015 – Strong financial capacity • Schedule: – Experience in operating and managing gas – Project commencement: Mar 2008 • Transaction structure: USD million 2013 2014 2015 – Transfer of ownership from PV Power fired power plants – River damping: Jan 2010 Revenue 154.7 151.7 118.9 – Capability to supply coal • Maximum equity ownership offering: 82.2% Profit before tax 13.6 13.3 8.6 – COD in QI/2013 • Preferable criteria for investor: – Strong financial capacity Electricity output 3.1 3.1 2.5 • On-going works: – Experience in operating and managing hydro (billion KWh) – PPA negotiation with EVN every 3 years power plants power plants

51 52 DakDrink Hydro JSC Hoa Thang 1 Wind Power Project

Company overview Key Investment Considerations Project overview Key Investment Considerations

Charter Capital: USD 44 million • Competitive advantages: • Key business activity: Wind power generation • Competitive advantages: • Key business activities: – Government support: • Location: Hoa Thang commune, Bac Binh – Government support:  Entitled to the benefits stipulated in Decision – Power generation o The project is given priority to feed 100% of district, Binh Thuan province No. 37/2011/QD-TTg of the Prime Minister produced power into the national grid. • Capacity: 49.5 MW (33 units of 1.5 MW) – The company owns and operates DakDrinh regarding support in mechanisms for wind Hydro Power Plant (Project) o Tax incentives: • Total area: 18 ha power projects in Vietnam. The entire • Project location: Located 70 km from Quang • CIT: • Main parameters: electrical output is prioritized to be Ngai city, on catchment area of the Dakdrinh  10% for first 15 years from – Expected production: 121,8 GWh/year; transmitted to the grid; River commencement of operation; – Capacity factor: 28.1%;  Tax incentives: Expected to be entitled to highest tax incentives applicable to special  Exemption for 4 years from the first – Implementation works include • Project capacity: 125 MW (2 units) encouraged projects including: • Project capability: year of making profits; Turbine with tower of approximately 82.9 o o CIT: – Annual production: 540,246 million KWh  50% reduction for the following 9 meter height;  10% for first 15 years from years; Internal 22 KV network; • Project main parameters: o commencement of operation; • Import duty exemption for raw 2 step-up substation: 22/110 KV;  Exemption for 4 years from the first Total area: 2,293 ha; o – year of making profits; materials, machineries, equipment, o 110 KV transmission line connecting the 22/110 – Tunnel: 10,325 km;  tools and spare parts which cannot be KV step-up substation with EVN's grid; 50% reduction for the following 9 3 years – Average flow per year: 31.89 m /s; produced locally to form fixed assets; Transportation road for construction and 6 3 o Tax exemption on sales of CERs; – Total discharge flow per year: 1,005.7 x 10 m ; o o Reduced land rental. operation; 6 3 o Import duty exemption for construction – Total volume: 248.51 x 10 m ; – Access to finance: Guaranteed loans by NEXI o Operation house. materials, machineries, equipment, tools – Useful volume : 205.18 x 106 m 3 ; organizations (Japan) at a low interest rate. • Project life and PPA: 20 years and spare parts which cannot be • Technology : In conformity with Vietnamese • Current ownership: PVPower (100%) produced locally to form fixed assets; Project economic performance and American designing standards – Advantageous location: Suitable location for Schedule wind power generation. The plant is located in • Project life and PPA: 40 years • Investment capital: US$238 million the coastal area where wind velocity is 6-8 m/s; • Current ownership: PV Power (93.32%), BIDV • Financing source: PVPower, BIDV, Licogi, • Schedule: – Access to low cost credit: The project might be (2.8%), Licogi (1.48%), SongDa Group (1.4%) and SongDa Group, DHC's employees, Credit – FS development: 2013 able to receive ECA loans or other loans at low others (1%) – FS approval: 2014 interest rate available to renewable energy Agricole, NEXI project. – EPC contract assignment: 2014 Current status & schedule • NPV: US$ 23 million (FS) • IRR: 11.68% (FS) – Construction: 2014 Cooperation Proposal • Investment license: No. 34121000029 issued • Payback period: 18 years (FS) – COD: 2015 on 25/6/2008 by Quang Ngai Provincial People's • Transaction structure: Committee Cooperation proposal Economic performance – Establish a Joint venture company with PV Power to develop the project in construction and • Schedule: • Transaction structure: • Tariff: US cent 7.8 operation period – Commencement: April 2009 – Transfer of ownership from PV Power • Investment capital: US$ 83 million – Financing arrangement – COD: December 2013 – Project operating and managing • Maximum equity ownership offering: • Financing source: PVN, ECAs, commercial • Completed works: • Maximum equity ownership offering: 49% 93.32% loans – Site clearance and settlement • Preferable criteria for investor: • Preferable criteria for investor: • IRR: 9.45 % (pre-FS) – Strong financial capacity • On-going works: – Strong financial capacity • Payback period: 18 years (pre-FS) – Experience in operating and managing wind – Construction of main work items of plant Experience in operating and managing hydro – power plants – PPA in negotiation with EVN power plants power plants – Capability to arrange loans at low interest rate

53 54

5. Petroleum Professional & Technical Services

Petrovietnam service projects map

Petroleum Professional & Technical Services Pvcom Bank Owner: PVN Petrovietnam today has become a national and gas pipeline systems, gas processing plants, Ocean Bank diversified economic group, offering a wide range of high buildings...), services for oil spill contingency. Owner: PVN oil and gas products and services. Petrovietnam's Besides, Petrovietnam also has other subsidiaries Petrovietnam Construction Corporation (PVC) petroleum services have been expanded in scale and providing services as insurance, loan and credit Owner: PVN advanced technologies to serve oil and gas projects arrangement for investment projects…. These Lai Vu Industrial Park Company at home and abroad including: Geo-physics survey, services annually contribute 25-30% of PVN total Owner: PVN technical and drilling services for oil and gas revenue, in 2012, petroleum services achieved the producing fields, provision of FPSO and FSO total revenues of USD 12 billion. In future, vessels, import-export and supply of petroleum Petrovietnam will focus on the quality and quantity materials and equipment, operation and of petroleum services, which is estimated to maintenance of oil and gas facilities (production contribute up to 35-40% of its total revenue. platforms, oil tankers, crude oil storage vessels, oil

Partnership with PVN in Power generation industry

Planning StageLicense stage Construction stage Operational stage

Petrovietnam Transportation Corporation Dung Quat Shipbuilding Company Ltd. Owner: PVN Petrovietnam Construction Corporation

Petrovietnam Energy Technology Corporation

Petrovietnam Phuoc An Port Investment & Operation JSC.

Dung Quat Shipbuilding Company Ltd.

Ocean Bank Petrovietnam Phuoc An Port Investment & Operation JSC. Pvcom Bank Owners: PVN

Lai Vu Industrial Park Company Petrovietnam Transportation Corporation Owner: PVN Petrovietnam Energy Technology Corporation Soai Rap Petroleum Industrial Park Owner: PVN Soai Rap Petroleum Industrial Park The opportunities are described in detail on the following pages. Owner: PVC

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55 56 Petrovietnam Transportation Corporation (PV Trans) Petrovietnam Construction Joint Stock Corporation (PVC)

Company overview Key Investment Considerations Company overview Key Investment Considerations

• Establishment: May, 2002 • Market potential • Charter capital: US$ 190 million • Being the biggest construction company specialized in oil and gas industry • Charter capital: US $ 110 million – Strong growth of Vietnamese oil and gas • Key business activities • Key business activities transport volumes: The oil and gas volume is – Being the EPC general contractor for huge – Petroleum specialized construction – Crude oil Transportation expected to reach 37.8 million tons in 2015 and petroleum projects: such as Ca Mau Gas – Electrical - Protein project, manufacturing rig – Transportation of refined oil products 68.5 million tons in 2020 – Industrial construction base, Thai Binh Thermal Power plant, topside – Growth of international petroleum transport – Transportation of gas products and – Civil construction H4 Te Giac Trang wellhead platform chemicals market: Additional routes to Venezuela possible, when projects of PVN in Venezuela go – Urban – Industrial zone investment – Key Projects: During the period 2013-2015, PVC – Offshore petroleum technical services will mobilize all resources to implement key into operation. – Real estate investment – Logistics services projects such as:, Thi Vai LPG-LNG Storage, – Growth oil &gas services markets: Access to – Other services • Ownership and main shareholders: Quang Trach 1 Thermal Power Plant, Nghi Son growing number of oil & gas projects to be Refinery and Petrochemical Complex, Long Son • Current ownership: PVN: 58.4%, – PVN: 54.54% developed by PVN Refinery and Petrochemical Complex, Lot B Gas PVCombank: 8.32 %, ACB :3.89%, Others: • Competitive advantages – Others: 45.46% Pipeline, Nam Con Son Gas Pipeline, Phu My 29.38% – Exclusive contracts with Dung Quat refinery: NPK Fertilizer Plant, mechanical processing and Key historical milestone The company has exclusive transportation right manufacturing, and civil facilities of the Financial performance of crude oil for Dung Quat and about : Fabrication for breakwater • Key historical milestones at Dung Quat refinery plant; DK Platforms in the 30% of output sea in the Southern continental shelf of Viet USD million 2011 2012 – Official provider of FSO/FPSO in Vietnam: – 1983: established as Oil and Gas Construction Nam, Nhon Trach 2 Power Plant, Vung Ang Providing service for several oil fields such as Conjugate Factory taking responsibility for Thermal Power Plant, Bio Ethanol Energy Plant Gross profit 18.9 22.1 Dai Hung, Chim Sao and Dua (US$ 1 billion supplying equipment for Oil and Gas sector. in the North Industrial project: Dinh Vu Profit before tax 3.2 1.6 package) – 2007: equitized to transform to PetroVietnam Polyester Plant in Hai Phong Profit after tax 2.1 0.4 – Strong international customer base: Strong and Construction Joint Stock Company (PVC) – High average investment: the average stable international customer base, including with the charter capital of USD 84 million; investment for oil and gas infrastructure is about ROA 0.54% 0.10% Shell, Exxon Mobil, BP, LG, Caltex total revenue was USD 268 million VND 16,000 – 20,000 billion per year, which ROE 1.90% 0.29% – Largest transporter in Vietnam's oil and gas will create great opportunities to dominate industry with a modern fleet: With 17 ships and Financial performance completely the construction and installation Financial forecast 2013 – 2015 total tonnage of 442.6 thousand DWT, service segment in the industry and increase Financial performance revenue and profit over the coming years. USD million 2013 2014 2015 accounting for 28% of the Vietnamese oil and gas fleet's total tonnage, crude oil tankers, • Strong connection with Government and Net revenue 205.0 206.3 240.3 product tankers, LPG carriers, offshore support USD million 2011 2012 PVN: As PVC is a subsidiary of PVN, a state owned Profit before tax 9.6 5.7 10.3 vessels, FSO and FPSO vessels. Equity 131.2 135.6 corporate, the company has more advantages in executing oil and gas projects invested by the Profit after tax 7.5 3.9 8.1 Cooperation proposal Total Asset 798.7 902.6 Government and PVN. Profit after tax 4.6 (87.9) Key historical milestone • Transaction structure: Transfer of ownership Cooperation Proposal from PVN Development plant for 2013 - 2015 • 2002 – established as a state-owned enterprise • Transaction structure: Transfer of ownership • Maximum equity ownership offering: 21.82 % • 2006 – commencing equitisation process USD million 2013 2014 2015 from PVN • Preferable criteria for investor: • Maximum equity ownership offering: 18.5% • 07/2007 – the company officially became PVTrans Turnover 216.2 1423.2 1513.4 - Strong financial capacity • Preferable criteria for investor: Corporation, with PVN holds majority shares Profit before tax - 93.4 112.4 - Experience in oil and gas transportation - Strong financial capacity Profit after tax - 70.0 84.3 - Experience in petroleum installation and construction

57 58 Petrovietnam Energy Technology Corporation (PV EIC) Petrovietnam Phuoc An Port Investment & Operation Joint Stock Company

Company overview Key Investment Considerations Company overview Key Investment Considerations

• Charter capital : US$ 24 million • Market potential • Key business activities: operating as a worldwide • Competitive advantages • Key business activities – PV EIC had been selected to be the successful port, shipping to most Asian countries including – Huge cargo volume: The Phuoc An Port project is planned to become one of the biggest ports in – Maintenance and Repair Services bidder by J/V Vietsovpetro, a joint venture Hong Kong, Singapore, Malaysia, India, Indonesia between PetroVietnam and Zarubezhneft and the Philippines Vietnam able to handle vessels up to 60,000 tons – MRO Supplies, Technology, Solution (), for provision of high voltage submarine • Location: Phuoc An commune, Nhon Trach district, and provide a cargo capacity of 2.4 million tons per year in Phase 1 supporting only 8% of Dong Nai's – Inspection, Survey, Valuation, Investigation power cables, fiber optic cables, accessories and Dong Nai province and Loss-adjusting total trade volume and 20% of Nhon Trach related technical services to the important • Charter capital: US $ 21 million Industrial Park's trade volume. – Energy Audit, Conservation and Saving energy connection network project on the White • Capabilities: The port is designed to handle up to – Convenient connections: Phuoc An Port enjoy Consultancy Tiger & Dragon Oil Fields. 60,000 DWT vessels convenient traffic system with connection to all – Vetting, OVID, Risk and HSEQ Assurance – On June 5, 2012 , PV EIC has officially signed • Capacity: 2.5 million TEUs/year or 6.5 million regional life-line routes by: Inland road, Airway, and Management distribution agreement with Dayfer S.L, owner of tons/year Railway, Waterway. The distance from “0” buoy to world-wide famous brand of inflatable craft PAP is only 40km – Charter capital :24 million USD • Technology: modern, high-tech design, equipment Narwhal. and operating model – Strong Government support: Phuoc An Port • Ownership and main shareholders: PVN : – PV EIC on June 7 has signed an agreement with • Facilities: belongs to planned seaport group No.5 in which was approved by the 41% Vietnam Investment Fund: 29% and others. Roemex Limited – United Kingdom, one of the – Total port area: 183 ha Prime Minister on master plan for Vietnam leading independent oilfield chemical Key historical milestone – Total berth area: 3,050 metres with 6 container seaport system development till 2020 and companies, to provide production and and 4 general cargo berths (60,000 DWT/ berth) orientation toward 2030. • Key historical milestones completion chemicals in Vietnam market. – Water depth: 15 m – Strong support from shareholder: Sonadezi Corp. • Competitive advantages – 2008: established as Petrovietnam Energy – Logistics zone: 5 km away from the port with a manages most of the companies operating in the Stable market activities: As a member of PVN, total area of 555 ha, including warehouses, oil main industrial parks in Dong Nai province, Technology Corporation (PV EIC) – the company has become familiar and close to and gas service area, railway station, creating a potential customer base for PAP – 2010: Charter capital increased to USD the owners, operators and constractors working transportation area, repair facility, container – Low land cost: The total compensation cost for the 23.7million, PVN 41% in oil and gas sector in Vietnam, proved by the yard, liquid storage area, customs clearance and land lease rights of the 157 ha port area is only about US$ 600,000 or 8 cents/ m²/ year Financial performance presence of PV EIC professional staff in most of immigration area, accommodation area, etc. oil and gas project, particularly for the important • Project life: 50 years – Expected customers: From Dong Nai province and project of PetroVietnam, namely Dung Quat Nhon Trach Concentrated Industrial Park which • Major shareholders: PVN side: 79.54%, Dong Nai covers a total area of 2,700 ha. USD million 2011 2012 Refinery, Vietsopetro, Offshore Oil and Gas province side: Sonadezi Corp.: 17.05%, Individual: 3.41% • Tax incentives Projects, Gas Thermal Power Plants, Oil and Gas Gross profit 8.5 4.6 – Corporate income tax: Exempt for the first 4 years Terminals, etc … Project Current Status & Schedule and 50% tax reduction for the next 9 years Profit before tax 2.5 (5.039) – Strong customer base: PVTrans has strong and – Land use tax: Exempt for the first 5 years stable customer base, including domestic and • Investment license status Profit after tax 2.1 (5.039 – Import tax: Exempt for the first 5 years overseas customers namely: BP Singapore Pte., – Investment license: No. 47121000233 dated Development plant for 2013 - 2015 Ltd, Chevron U.S.A. Inc, Itochu Corporation, August 21 2009 Project Financial Performance Shell International Eastern Trading Company • Completed works • Investment capital: US$ 979 million USD million 2013 2014 2015 – Ability to provide cross services: PV EIC have – Detailed planning for construction - 1/2000 and • NPV: US$ 119 million (FS) successfully performed specialized service 1/500 scale Turnover 22.6 25 27.5 • IRR: 19% (FS) related to the project quality management, – Phase 1 detailed design • Payback period: 18 years (FS) Profit before tax 6.2 6.9 7.7 consultancy, quality control and assurance to – Report for environmental impact statement ensure risk free and integrity of the – Handover part of port land and logistics zone land Cooperation Proposal Profit after tax 4.7 5.2 5.8 PetroVietnam assets as well as Health, Safety and • Duration: 10 years for 5 phases Enviroment for all oil and gas activities covering • Transaction structure: Form of cooperation up – mid and downstream; – Phase 1: a part of port and logistic zone, 1 container berth and road to port – Port operator • Certification and accreditation – Phase 2: a part of port and logistic zone, 2 – Financial investor • Transaction structure: Transfer of – ISO 9001-2000 container berth, 1 general cargo – Logistic firm ownership from PVN – ISO/ IEC 17020 – Phase 3: a part of port and logistic zone, 1 – Transfer of ownership from PVN • Maximum equity ownership offering: 5% – Inspection of commondities on behaft of the container berth, 1 general cargo • Maximum equity ownership offering: 49 % Vietnam Custom Bureau • Preferable criteria for investor: – Phase 4: a part of port and logistic zone, 1 • Preferable criteria for investor: - Strong financial capacity – Certified by Ministry of Finance to provide container berth, 1 general cargo evaluation services – Broad experience in port and related logistic services - Experience in petroleum operation and – Phase 5: a part of port and logistic zone, 2 – Ability to perform the test of the laboratory – Strong financial report in recent 3 years maintenance container berth according to LAS-XD 870 – Reliable and prestigious partner in port sector

59 60 Dung Quat Shipbuilding Industry Company Limited (DQS) Ocean Commercial Joint Stock Bank (Ocean Bank)

Project Overview Key Investment Considerations Company overview Key Investment Considerations

• Company name: Dung Quat Shipbuilding Industry • Competitive advantages • Key business activities • Market potential Company Limited (DQS) – Strong Government support: This project is a – Personal Banking Service. – Growing Market • Location: Tan Hy village, Binh Dong commnue, priority project under the Government's master

Binh Son district, Quang Ngai province plan to develop the country's shipbuilding – Corporate Banking Service. • More companies make monthly payment via bank accounts; • Charter capital: US$ 190 million industry up to 2030. The Government has – E-Banking. offered DQS a number of tax and land lease • Key business activities: building and repairing • Charter capital: US$ 188 million • More customers require the banking services; incentives such as exemption from income tax ships, offshore rigs and floating equipment; and import tax. Moreover, Quang Ngai People's • Current ownership: Ocean Group: 20%, VNT • High population of 90 million people with manufacturing steel structures for lifting Committee also offered DQS a vocational growing demand and capacity to afford for equipment; dismantling old ships, recovery of Limited Company: 20%, Petrovietnam: 20%, Song training center for workers and compensation financial banking. machines and equipment; machinery and Da Investment and Construction Co .: 6.65%, for land clearance. – Corporate Customers equipment installation; technology transfer, etc. Others: 33.35%. – Advantageous location: DQS is located in a deep- • Capabilities: DQS is capable of building ships up to  More companies could rely on Ocean Bank water multi-functional port, and is therefore able 300,000 DWT with a full capacity of 1.1 million tons Financial performance for its quality services. to repair cargo ships of up to 50,000 DWT and oil per year tankers of 150,000 DWT • Competitive advantages • Facilities • Key assumptions USD million 2011 2012 – Strong financial and capital base to support – Total DQS area: 118 ha growth and expansion: – Tax incentives Total Assets 2,900 3,000 – Manufacturing workshop area: 40,000 m²  One of the largest commercial banks in . Company income tax: Exempt for the first 4 Profit before tax 31 15 – Pipe workshop area: 10,000 m² years (2006 – 2009) and 50% reduction in Vietnam with consistent growth and Profit after tax 23 12 – Assembling workshop area: 16,500 m² tax for the next 9 years (2010 – 2019), and development over the past years; exemption from income tax on the profits – Mechanical workshop area: 4,000 m² ROA 1.12% 0.5%  Remarkable expansion with more branches contributed from exporting activities in the to provide a much wider coverage; – Area of stock yard: in use Dry dock No.1 (308 x fiscal year ROE 14.16% 6.75%  Reaching further to customers with a variety 86 x 14 m) and under construction Dry dock No.2 . Exemption of import tax: For machinery, of financial services with competitive rates (520 x 110 x 14 m) equipment and technology for fixed asset Financial forecast and conditions. • Ownership and main shareholders: 100% PVN building; materials and semi-finished USD million 2013 products which are not manufactured in – Significant presence in the Vietnamese Current Status & Schedule Vietnam Total Assets 4.500 financial sector: • Operational registration: No. 4300338693, issued . Exemption of land lease: From 2003 – 2018 Profit before tax 87  Having very important major owners namely by Dung Quat Economic Zone Authority of Quang Petrovietnam, Ocean Group, Song Da Profit after tax 65 Ngai province Economic performance performance Company which help to support Ocean Bank • Project period: to operate smoothly and create a strong fundamental base for Ocean Bank's future – Stage 1: continue calling for investment of US$ 54 USD million 2011 2012 Key historical milestone growth. million for the capacity expansion of stage 1 Equity (42.4) (10.9)

– Stage 2: 2015 – 2020 – calling for investment of – 1993 – Establishment Cooperation Proposal Total Asset 318.5 318.1 US$ 471 million – 2007 – Transformed its operation to a joint stock Profit after tax (43.1) (36.9) commercial bank model with capital of US$ 47 • Transaction structure: Transfer of ownership Key historical milestone million from PVN Cooperation proposal – February, 2006: Company Establishment – 2009 – Increased capital to US$ 94 million • Maximum equity ownership offering: 20% Newbuilding activities • Transaction structure: Transfer of ownership – 2012 - Increased capital to US$ 188 million. • Preferable criteria for investor: – July, 2010: Transferred to PetroVietnam Group from PVN - Strong financial capacity. – From 2010 up to now: Newbuilding, repairing • Maximum equity ownership offering: 64% - Experience in operating in the financial and and conversion vessels, floating products etc. • Preferable criteria for investor: banking sector. – April, 2013: Awarded OHSAS 18001:2007 and – Experience in ship building ISO 14001:2004

61 62 Vietnam Public Joint Stock Commercial Bank (PVComBank) Lai Vu One- member Company Limited

Company overview Key investment highlights Project Overview Key Investment Considerations

• Total Assets: USD 4,700 million • Market potential • Company name: Lai Vu one member company • Competitive advantages • Chartered Capital: USD 427 million – Strength in advanced technology and highly limited – Advantageous location: Very convenient for skilled workforce • Location: Lai Vu, Kim Thanh commune, Hai Duong raw materials and products transportation • Key business activities:  PVcomBank have invested with very province providing to the key economic regions in the • Personal Banking Service. advanced technology to support its long- • Charter capital : US$ 28 million country and abroad. run operations; • Corporate Banking Service. Key business activities: manufacturing machinery, – World-Class Infrastructure  Wide operations with 30 branches • • E-Banking. nationwide, in main cities/provinces of the shipping building industry, automobile spare parts, – Tax incentives country; motorbike, farm machinery and assembling cars, gas, • Financial Investment. . Company income tax: CIT 20%/year in 10 – Significant presence in the Vietnamese garment…etc… years from starting commercial operation. and • Current ownership: Petrovietnam: 52%, Morgan financial sector: • Capabilities: Total area: 192.5 ha 50% reduction in tax for the next 9 years Stanley: 7%, Western Bank: 33%, Others: 8%. • After the M&A deal between PVFC and • Facilities . Exemption of import tax: For machinery, WTB, PVcomBank now have a significant equipment and technology for fixed asset Financial performance presence in both the Northern and – Vinashin Pricision engineering joint stock Southern parts of Vietnam, being able to company building; materials and semi-finished Financial forecast for the years 2013 - 2015 reach to a wide coverage of customers. products which are not manufactured in – Vinashin heavy engineering joint stock company • Competitive advantages Vietnam USD million 2013 2014 2015 – Industrial ventilation manufacturer – Strong financial and capital base to reach to Economic performance Profit before tax 26 48 78 many customer regions: – Spiral steel pipe manufacturing plant Profit after tax 20 36 58  Being a merger bank, PVcomBank has the – Shinec processing plant USD million 2012 2013 (9 months) ROA 4.64% 8.35% 10.00% the combined chartered capital, skilled and experienced workforce and advanced – Commercial concrete plant Total Assets 27.9 33.1 ROE 0.35% 0.58% 0.92% technology; – Boat Propeller Manufacturer Profit before tax (0.3) (0.104)  Experienced in providing financial • Ownership: PVN 100% Profit after tax (0.3) (0.104) Key historical milestone services for enterprises operating in oil ROE 1.90% 0.29% and gas sector. Current Status & Schedule • 2013 – Western Commercial Joint Stock Bank Cooperation proposal Cooperation Proposal (WTB) and Petrovietnam Finance Joint Stock • Operational registration: 1418/QĐ- DKVN th Corporation (PVFC) were merged as PvcomBank, • Transaction structure: Transfer of ownership dated July 5 2012 for approval and promulgation • Transaction structure: in which: from PVN of rules and organization of the Lai Vu one-member – Port operator company limited • WTB was established in 1992 with capital of USD • Maximum equity ownership offering: 52% – Financial investor 142 million; • On-going works: – Logistic firm • Preferable criteria for investor: • – Transfer of ownership from PVN PVFC was established in 2000 with capital of USD – Lan clearance 285 million. - Strong financial capacity; • Maximum equity ownership offering: 100 % – Internal traffic communication… - Experience in operating in the financial and • Preferable criteria for investor: banking sector. – Broad experience in port and related logistic services – Strong financial report in recent 3 years Reliable and prestigious partner in port sector

63 64 Soai Rap Petroleum Industrial Park

Project Overview Key investment considerations

• Key business activities: providing of project • Competitive advantages ground service and port service – Favorable traffic system: The park located in the • Location: Go Cong Cong District, Tien Giang southern sea economic area is the hub of many province roads linking Ho Chi Minh City with the • Capacity: 285 ha Western provinces. Near the of Ben Luc • Facilities industrial zone, Long An IZ, Tan Huong IZ and – Industrial construction: 175 ha Binh Dong industrial complexes. Industrial – Port, storage yards: 33ha Zone from far Ho Chi Minh City by 45km along – Operation center, greenery land, Highway 50 infrastructure connection …etc…: 78 ha – For region's marine economy: Advantage for • Project life: 50 years seaports service, oil and gas services industries • Owner: PVC 100% – Located in the southern key economic area : with huge favorable exchange goods Current Status & Schedule • Tax incentives • Investment license status: 1589/QĐ-UBND – Tax exemption in imported goods dated June 28 , 2011 of Tien Giang province for – CIT 10% for first 15 years from commencement establishment of Soai Rap Petroleum Industrial of operation and Service . Investment license No. 53221000012 – CIT 50% tax reduction in the next 9 years date 25/03/2011 of Management Board of Tien Economic performance Giang Industrial Parks.

• Tentative schedule: • Investment capital: US$ 74 million – Phase 1: Infrastructure for pipe manufacturing • NPV: US $1.2 million plant, water supply lines, power supply system , • IRR: 18.09% communication connection, wastewater system plant • Payback period: 4 years 11 months – Phase 2: Finish infrastructure, surrounding Cooperation proposal areas, industrial park management area – Phase 3: Develop port for industrial park. • Transaction structure: Establish a Joint Complete port areas inappropriate with the venture company to develop the project/ land purpose of tenants rental/ Transfer of ownership from PVC • Completed works: • Maximum equity ownership offering: 100% – Construction of PV Pipe Company • Preferable criteria for investor: – Connected road - Strong financial capacity – Power supply system - Experience in petroleum construction/ civil – Water supply lines construction

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