Hydrocarbon Reserves as of January 1, March 30, 2011

Transcription

1 Hydrocarbon Reserves as of January 1, 2011 March 30, 2011

2 Forward-Looking Statements This presentation contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the Comisión Nacional Bancaria y de Valores (Mexican National Banking and Securities Commission, or CNBV) and the U.S. Securities and Exchange Commission (SEC), in our annual report, in our offering circulars and prospectuses, in press releases, in other written materials, and in oral statements made by our officers, directors or employees to third parties. Words such as we believe, expect, anticipate, and similar phrases express forward-looking statements and our perspective about events in the future and financial performance. We may include forward-looking statements that address, among other things, our: drilling and other exploration activities; import and export activities; projected and targeted capital expenditures and other costs; Commitments, revenues, and liquidity, etc. Actual results could differ materially from those projected in such forward-looking statements as a result of various factors that may be beyond our control. These factors include, but are not limited to: changes in international crude oil and natural gas prices; effects on us from competition; limitations on our access to sources of financing on competitive terms; significant economic or political developments in Mexico; developments affecting the energy sector; and changes in our regulatory environment. Accordingly, you should not place undue reliance on these forward-looking statements. In any event, these statements speak only as of their dates, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise. These risks and uncertainties are more fully detailed in PEMEX s most recent Form 20-F filing with the SEC ( and the PEMEX prospectus filed with the CNBV and available through the Mexican Stock Exchange ( These factors could cause actual results to differ materially from those contained in any forwardlooking statement. 2

3 Cautionary Note As established in Article 10 of the Regulatory Law to Article 27 of the Constitution of the United Mexican States Concerning Petroleum Affairs, (i) PEMEX s reports evaluating hydrocarbon reserves should be approved by the National Hydrocarbons Commission (NHC); and (ii) the Secretary of Energy will register and disclose Mexico s hydrocarbon reserves based on information provided by the NHC. These procedures are currently under development. As of January 1, 2010, the SEC changed its rules to permit oil and gas companies, in their filings with the SEC, to disclose not only proved reserves, but also probable reserves and possible reserves. However, we do not necessarily mean that the probable or possible reserves described herein meet the recoverability thresholds established by the SEC in its new definitions. Investors are urged to consider closely the disclosure in our Form 20-F and our annual report to the Mexican Banking and Securities Commission, available at Cumulative or annual variations are computed as compared to the same period of the previous year; unless it is otherwise specified. 3

4 Content Reserves Estimation as of January 1, 2011 Main Discoveries Questions and Answers 4

5 Main Strategies in Pemex-Exploration and Production Exploration Accelerate the exploration activities in the deepwaters of the Gulf of México by increasing seismic acquisition and drilling of exploratory wells. Improve the success rate of exploratory wells. Accelerate the delineation of recent discovered fields. Increase the recovery factor in brownfields through the implementation of secondary and enhanced recovery projects. Exploitation Accelerate the development of new reserves. Implement the best technologies available to increase the success rate and productivity of development wells. Development and Distribution Build the facilities needed to guarantee the quality of crude oil production delivered. Continue with the integral maintenance strategy of facilities. 5

6 Proved Reserves as of January 1, 2011 Billion barrels of crude oil equivalent (MMMboe) 100% = Proved (1P) Developed Undeveloped Undeveloped 32% 68% Crude Oil: 74% 76% 70% Condensates and Plant Liquids 9% 8% 10% Developed Dry Natural Gas: 17% 16% 20% Note: Numbers may not total due to rounding. 6

7 3P Reserves as of January 1, 2011 Billion barrels of crude oil equivalent (MMMboe) Proved (1P) Probable 2P Possible 3P Crude oil: 74% 71% 73% 68% 71% Condensates and plant liquids: 9% 9% 9% 9% 9% Dry natural gas: 17% 20% 18% 23% 20% Note: Numbers may not total due to rounding. 7

8 Crude Oil Reserves Composition Crude Oil Reserves as of January 1, 2011 Billion barrels (MMMb) Proved Reserves 100% = 10.2 Reserves 2P 100% = 20.9 Reserves 3P 100% = % 13% 14% 29% 60% 33% 54% 34% 52% Heavy: Light: Extra-light: Note: Numbers may not total due to rounding. 8

9 Natural Gas Reserves Composition Natural Gas Reserves as of January 1, 2011 Trillion cubic feet (MMMMcf) Proved reserves 100% = 17.3 Reserves 2P 100% = 38.2 Reserves 3P 100% = % 62% 29% 71% 29% 71% Associated: Non-associated: Note: Numbers may not total due to rounding. 9

10 Geographical Distribution of Reserves Basins Reserves as of January 1,2011: Crude Oil Reserves(MMMb) Sabinas Burgos Tampico Misantla Veracruz Sureste Golfo de México Profundo Plataforma de Yucatán Natural Gas Reserves(MMMMcf) 100% = Onshore 31% 47% 51% 57% 69% 70% Offshore 69% 53% 49% 43% 31% 30% Note: Type of Reserve: Numbers may not total due to rounding. 1P 2P 3P 1P 2P 3P 10

11 Reserves-Production Ratio* Year Production (MMboe) Reserves-Production Ratio (Years) 1P 2P P , , Reserves- Production Ratio = Reserves Production , *As of January 1 of each year. Note: Numbers may not total due to rounding 11

12 Reserves Evolution Reserves as of January 1 of Each Year Billion barrels of crude oil equivalent (MMMboe) Possible Probable Proved P Reserves: P Reserves: P Reserves: Note: Numbers may not total due to rounding. Since 2002 Pemex Exploration and Production has utilized the SEC proved reserves definition 12

13 Crude Oil and Natural Gas Reserves Evolution Reserves as of January 1 of Each Year Crude Oil Reserves (MMMb) Natural Gas Reserves (MMMMcf) Possible Probable Proved P Reserves: P Reserves: Note: 3P Reserves: 30.9 Numbers may not total due to rounding

14 Reserves Evolution As of January 1 of Each Year Million barrels of crude oil equivalent (MMboe) 1P Reserves 13, ,384 13,796 2P Reserves 28, ,422-1,384 28,809 3P Reserves 43,075 1, ,384 43,074 Note: Numbers may not total due to rounding Discoveries Developments, revisions and delineations Production

15 Evolution of Proved Reserves Replacement Rate As of January 1 of Each Year Replacement rate of 1P* (Percent) * Includes: discoveries, delineations, developments and revisions. 15

16 Content Reserves Estimation as of January 1, 2011 Main Discoveries Questions and Answers 16

17 Discoveries Evolution As of January 1 of Each Year Million barrels of crude oil equivalent (MMboe) 1, , ,437.8 Possible Probable Proved 1, P Reserves: P Reserves: P Reserves: Note: Numbers may not total due to rounding. 1, , , ,

18 Discoveries in 2010 Discoveries as of January 1, 2011 Million barrels of crude oil equivalent (MMboe) Proved reserves 100% = 231 4% 2% 1% 0% 2P reserves 100% = 543 3% 2% 0% 0% 3P reserves 100% = 1,438 2% 1% 0% 1% 93% 95% 96% Basin Southeast: ,380 Veracruz: Burgos: Sabinas: Tampico-Misantla: Note: Numbers may not total due to rounding. 18

19 Recent Relevant Discoveries In the last three years important offshore fields have been discovered mainly in the Southeast basin: 500 Tunich-101 Bok-1 Nab-1 Ayatsil-Tekel-Pit-Kayab Complex: this heavy crude oil complex recently discovered represents additions to its total reserves of 1,623 MMboe and 544 MMboe of proved reserves. The complex is located in the north part of the Ku-Maloob-Zaap Asset and represents the most important discovery of heavy crude oil in the last years. Tsimin-Xux complex: this gas-condensate complex represents additions to its total reserves of 1,947 MMboe and 467 MMboe of proved reserves. The complex represents the most important discovery of non-associated gas in the last years. It is worth mentioning that the Kinbé exploratory well is currently in completion and PEMEX has already identified higher oil column. Therefore, the complex reserves will be even higher this year. Kanche-1 Lem-1 Baksha-1 Numan km Pit-1DL Pit Kayab-1 Kayab 100 Pit-1 UTSIL-1 Tson km Tekel 1 Yaxiltun-1 Tekel 5.6 km Ayatsil-1 Pohp-1 Chapabil-1A Ayatsil DL 3 Panil1 Maloob Ayatsil-1DL Zaap Pozo en terminación Pozos Productor Pozo invadido Pozo productor en otro horizonte Kinbe-1 Tsimin-1DL May Tsimin-1 Xux-1 19

20 Content Reserves Estimation as of January 1, 2011 Main Discoveries Questions and Answers 20

21 Contact: Investor Relations (52 55)