Hydrocarbon Reserves as of January 1, 2013 April 26, 2013
1 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 (www.sec.gov) and the PEMEX prospectus filed with the CNBV and available through the Mexican Stock Exchange (www.bmv.com.mx). These factors could cause actual results to differ materially from those contained in any forward-looking statement.
2 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 www.pemex.com. Cumulative or annual variations are computed as compared to the same period of the previous year; unless it is otherwise specified.
3 Content Reserves Estimates as of January 1, 2013 Main Discoveries Questions & Answers
4 Main Strategies in Exploration & Production Exploration Accelerate exploratory works in the deeper part of the Gulf of Mexico through an intensified seismic data acquisition and exploratory drilling program. Increase exploratory success by carrying out exploration towards specific areas and incorporating newer technology. Speed up the delination of discoveries to reduce uncertainty once it enters the development stage. Exploitation Increase the recovery factor at mature fields through enhanced or secondary recovery. Accelerate the development of new reserves through processes being run under the best exploitation strategies. Boost the use of best technologies to increase the success and productivity of development wells. Refurbishing and Primary Distribution Construct the required infrastructure to guarantee the quality of commercialized oil. Continue a comprehensive maintenance program of our facilities.
Billion barrels of oil equivalent (MMMboe) Proved Reserves as of January 1, 2013 100% = 13.9 13.9 9.3 33% 4.5 Proved (1P) Developed Undeveloped Developed 67% Undeveloped Crude Oil: Condensates and Plant Liquids: Dry Natural Gas: 73% 75% 69% 10% 9% 11% 17% 16% 20% 5
Billion barrels of oil equivalent (MMMboe) 3P Reserves as of January 1, 2013 18.4 13.9 12.3 26.2 44.5 Proved (1P) Probable 2P Possible 3P Crude Oil: 73% 69% 71% 67% 69% Condensates and Plant Liquids: 10% 10% 10% 10% 10% Dry Natural Gas: 17% 21% 19% 23% 21% 6
Crude Oil Reserves as of January 1, 2013 Billion barrels (MMMb) Crude Oil Reserves Composition Proved Reserves 100% = 10.1 2P Reserves 100% = 18.5 3P Reserves 100% = 30.8 10% 11% 13% 29% 61% 32% 57% 35% 52% Heavy: 6.2 10.6 16.1 Light: 2.9 5.9 10.9 Extra-light: 1.1 2.0 3.8 7
Natural Gas Reserves as of January 1, 2013 Billion cubic feet (MMMMcf) Natural Gas Reserves Composition Proved Reserves 2P Reserves 3P Reserves 100% = 17.1 100% = 34.9 100% = 63.2 36% 30% 30% 64% 70% 70% Associated : Nonassociated: 11.0 6.1 24.5 10.4 44.4 18.8 8
Geographic Distribution of Reserves Basins Sabinas Burgos Tampico Misantla Veracruz Southeast Deep Waters of the Gulf of Mexico Yucatán Platform Reserves as of January 1, 2013: Crude Oil Reserves (MMMb) Natural Gas Reserves (MMMMcf) 100% = 10.1 18.5 30.8 17.1 34.9 63.2 Onshore 31% 40% 48% 58% 64% 66% Offshore 69% 60% 52% 42% 36% 34% Type of reserve: 1P 2P 3P 1P 2P 3P 9
Reserves-Production Ratio 1 Year Production (MMbpce) Reserves-Production Ratio (Years) 1P 2P 3P 10.2 2013 1,353 19.3 32.9 10.2 2012 1,358 19.3 32.3 Reserves- Production Ratio = Reserves Production 10.0 2011 1,384 20.8 31.1 1) As of January 1 of each year. 10
Reserves as of January 1 of each year Billion barrels of oil equivalent (MMMboe) Evolution of Reserves 53.0 10.3 Possible Probable Proved 50.0 48.0 46.9 46.4 45.4 44.5 43.6 43.1 43.1 43.8 44.5 13.0 13.1 13.4 14.2 14.6 14.6 14.7 14.8 14.3 17.7 18.4 20.8 17.0 16.0 15.8 15.8 15.3 15.1 14.5 14.2 15.0 12.4 12.3 21.9 20.1 18.9 17.6 16.5 15.5 14.7 14.3 14.0 13.8 13.8 13.9 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 1P Reserves : 18.9 17.6 16.5 15.5 14.7 14.3 14.0 13.8 13.8 13.9 2P Reserves : 34.9 33.5 32.3 30.8 29.9 28.8 28.2 28.8 26.2 26.2 3P Reserves : 48.0 46.9 46.4 45.4 44.5 43.6 43.1 43.1 43.8 44.5 Beginning 2002 PEMEX adopts SEC guidelines and standards regarding the definiton of proved reserves. 11
Reserves as of January 1 of each year Evolution of Oil and Natural Gas Reserves Crude Oil Reserves (MMMb) Natural Gas Reserves (MMMMcf) 30.6 30.6 30.8 61.3 61.6 63.2 Possible 9.7 12.0 12.3 23.0 26.8 28.3 Probable 10.7 8.5 8.5 20.9 17.6 17.8 Proved 10.2 10.0 10.1 2011 2012 2013 17.3 17.2 17.1 2011 2012 2013 1P Reserves: 10.2 10.0 10.1 17.3 17.2 17.1 2P Reserves : 20.9 18.6 18.5 38.2 34.8 34.9 3P Reserves : 30.6 30.6 30.8 61.3 61.6 63.2 12
As of January 1 of each year Billion barrels of oil equivalent (MMboe) 1P Reserves 13,810 134 Reserves Variation 2012-2013 1,277-1,353 13,868 2P Reserves 26,163 507 857-1,353 26,174 3P Reserves 43,837 1,731 315-1,353 44,530 2012 Discoveries Developments, revisions and delineations Production 2013 13
As of January 1 of each year Evolution of the Proved Reserves Replacement Rate 1P 1 Reserves Replacement Rate Percentage 41.0 50.3 71.8 77.1 85.5 101.1 104.3 2007 2008 2009 2010 2011 2012 2013 Reserves Replacement Rate 140% 120% 100% 80% 60% 40% 20% 0% 128.7% 128.0% 102.1% 103.9% 107.6% 56.9% 59.2% 59.7% 101.1% 104.3% 65.7% 85.8% 71.8% 77.1% 41.0% 50.3% 22.7% 26.4% 2005 2006 2007 2008 2009 2010 2011 2012 2013 1P 3P 1) Includes: discoveries, developments, revisions and delineations. 14
15 Content Reserves Estimates as of January 1, 2013 Main Discoveries Questions & Answers
Million barrels of oil equivalent (MMboe) As of January 1 of each year 1,773.9 1,482.1 894.8 569.7 548.6 490.3 1,437.8 894.8 Evolution of Discoveries Possible Probable 1,731.3 Proved 1,461.1 1,224.0 1,062.3 363.8 388.9 312.1 245.7 373.4 230.8 153.1 133.9 2009 2010 2011 2012 2013 1P Reserves: 363.8 388.9 230.8 153.1 133.9 2P Reserves: 912.4 879.2 543.0 398.8 507.3 3P Reserves : 1,482.1 1,773.9 1,437.8 1,461.1 1,731.3 16
Discoveries 2012 Million barrels of oil equivalent (MMboe) Discoveries as of January1, 2013 Proved Reserves 2P Reserves 3P Reserves 100% = 134 100% = 507 100% = 1,731 4% 7% 11% 44% 38% 35% 55% Cuenca 78% 5% 2% 11% 1% 4% 5% Southeast: 104 192 599 Veracruz: 15 54 88 Burgos: 6 10 13 Sabinas: 9 28 71 Deep Waters of the Gulf of Mexico: 0 224 960 17
18 Main Recent Discoveries N The main discoveries made during 2012 were: W S E Baha-2 Offshore Fields: Great White -1 Hammerhead-1 Trident-1 Trión: the first discovery made of crude oil in deep waters was precisely at this field, incorporating total reserves of 482 Mmboe. Its discovery incorporates a wide area, were both the Perdido Fold Belt and the Salina del Bravo provinces are located, on U.S. territorial waters. Kunah: this is another wet gas field located in deep waters, located in the coast of the state of Veracruz, and incorporated total reserves of 379 MMboe. This discovery reinforces the development of nearby fields in deep waters, such as Lakach, Piklis and Labay. The field is located in the Holok province. Matamoros Pegazo Kama Trion -1 C. Subsalino C. Plegado Perdido Golfo de México Supremus -1 Onshore Fields: Navegante: this is the most important onsore discovery made in 2012, with total 3P reserves of de 305 Mmboe of crude oil. It is located in the Southeast basin in the state of Tabasco. Its delineation and development is expected to take place during the year. Navegante Field
19 Content Reserves Estimates as of January 1, 2013 Main Discoveries Questions & Answers
Investor Relations (+52 55) 1944-9700 ri@pemex.com @PEMEX_RI 20