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PAKISTAN PETROLEUM LIMITED

CORPORATE PRESENTATION

OCTOBER 2013

Pakistan Petroleum Limited

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Corporate History2

Pattern of Shareholding30 June 2013

Shareholders PercentageGovernment of Pakistan 71.06

PPL Employees Empowerment Trust 7.35

Non-Resident Financial Institutions 9.60

Public Sector Companies 3.33

Modarabas and Mutual Funds 3.22

Others 5.44

Total 100

Century old legacy of Burmah Oil plc. UK

1950: Incorporated with BOC as majority

shareholder

1952: Sui Discovery

1997: GoP purchased entire equity of BOC

2004: 15% of share capital offloaded through

IPO

2009: GoP distributed 12% of its equity in PPL

to employees

Public limited listed company

Three-fold expansion in portfolio

Business operations across Pakistan and

abroad

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3

BRANCH OFFICE

BAGHDAD, IRAQ

EXPLORATORY

Yemen (2)*

EXPLORATORY

Pakistan (3)

PRODUCING

Pakistan (1)EXPLORATORY

Pakistan (45)(incl. 3 offshore)

PRODUCING

Pakistan (19)

*Block-29 assignment of working interest in progress.

Mining Lease

Barytes (1)

Mining LeaseIron Ore (1)

Mining License

Iron Ore (2)

Exploration License

Baryte, Lead , Zinc (1)

BRANCH OFFICE

ISLAMABAD, PAKISTAN

Wholly-owned Subsidiary Of PPL

Registered In United Kingdom Wholly-owned Subsidiary of PPL Registered

in Netherlands

Joint Venture With

Government Of Balochistan (50%)

EXPLORATORY

Iraq (1)

HEAD OFFICE

KARACHI, PAKISTAN

Corporate Structure

Total Staff Strength: 2,700

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4

Production & Reserves

Remaining 2P Reserves (as at 30 June 2013) - PPLs share

Gas (Tcf) 4.695

Oil / Gas/ Condensate (MMBBL) 78

LPG (M Tonnes) 527Total MMBOE 930

Daily Average Production (July 2012June 2013)- PPLs share

Gas MMcf 908

Oil/Gas/ Condensate BBL 10,099LPG Tonnes 47

Total BOE 174,128

Discoveries Success Ratio 1:2.6

Gas Fields 23Oil/ Gas / Condensate Fields 11

Oil Fields 1

Total 35

Wells Drilled

Exploratory 91

Development / Appraisal 274

Total 365

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Current Asset Portfolio5

SSET SUMM RY

Exploration ProducingTotal

Pakistan International Pakistan

45 3 19 67

(incl. 3 offshore)

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6

International Portfolio

International Assets:

Block-29 in Yemen (43.75%)2009

Block-8 in Iraq (100%)2012

Block-3 in Yemen (20%)2013

International Subsidiaries:

PPL Europe E&P Limited

PPL Asia E&P B.V.

Efforts for International Joint Venture

Exploration & buying Undeveloped /Developed reserves

Different countries of North / East Africa,

the Middle East, and the Central Asian states

are being evaluated by PPL

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7

Planned Exploration & Drilling Activities7

0

1000

2000

3000

4000

5000

6000

7000

2013-14 2014-15 2015-16 2016-17 2017-18

LineKms

2D Seismic

International Areas

POp Areas - Local

Op Areas - Local

0

500

1000

1500

2000

2500

3000

3500

4000

2013-14 2014-15 2015-16 2016-17 2017-18

SqKms

3D Seismic InternationalPOp Areas - Local

PPL Operated Local

0

5

10

15

20

25

30

35

40

Exploratory Development Workover Exploratory Development Workover Exploratory Development Workover Exploratory Development Workover Exploratory Development Workover

2013-14 2014-15 2015-16 2016-17 2017-18

No.ofWells

Exploratory, Development and Workover WellsInternational

POp Areas - Local

Op Areas - Local

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Projected Growth in 5 Years8

1,554

919

553

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%100% Organic Growth

Int'l Growth

Unconventional Growth

Conventional Growth

Replenishment of around 3.23 tcf of gas and gas

equivalent reserves

Achieve an average growth of around 16% over the

Plan period

New discoveries and acquired reserves to contribute

26% of Companys total production

922

3 3654

108

138

850

900

950

1000

1050

1100

2013-14 2014-15 2015-16 2016-17 2017-18

MMscfd

Gas Production*

New Gas

10,214

11 1,654

6,181

10,083

5000

7000

9000

11000

13000

15000

17000

19000

21000

23000

2013-14 2014-15 2015-16 2016-17 2017-18

Bopd

Oil Production*

New Oil

* - Additional production over fixed based year

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Recent Development

Four recent discoveries

Partner Operated - Sukhpur (Eni)

Operated2 discoveries in Gambat South (PPL)

Operated - Hala (PPL)

First tight gas discovery

Partner Operated - Production commenced from Kirthar Block (POGC)

Prospectivity Study of Offshore Area with a UK based company

Shale Gas Study Jointly being conducted by Eni and PPL

Core study conducted in Hala Block to evaluate shale gas potential

Low BTU Reservoir (HRL) development at Sui Gas Field

9

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Key Performance Indicators10

KEY PERFOMANCE INDICATORS UOM 2012-13

Executive to Staff Ratio 0.36

Reserves (2P) per Employee BOE 344,387

Sales (net) per Employee USD* in 000 382

Profit after Taxation per Employee USD* in 000 157

BOE produced per Employee BOE 23,548

June 2013 rate of 1USD = 99.2 PKR

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130%

90%

120% 115%105%

20%

20%

10%

25%

20%

0%

20%

40%

60%

80%

100%

120%

140%

160%

2008-09 2009-10 2010-11 2011-12 2012-13

Shareholder's Payout

Cash Dividend %age Bonus Share %age

11

Financial Performance11

* As at 30 June 2013

621 604

789

9701,032

-

200

400

600

800

1,000

1,200

2008-09 2009-10 2010-11 2011-12 2012-13

USD

Million

Net Turnover

279

235

317

413 423

-

50

100

150

200

250

300

350

400

450

500

2008-09 2009-10 2010-11 2011-12 2012-13

USDM

illion

Profit after Tax

Market

Capitalization*

PKR 347.6 billion

USD 3,504 million

June 2013 rate of 1USD = 99.2 PKR 0

2

4

6

8

10

12

2008-09 2009-10 2010-11 2011-12 2012-13

5.3 5.3

8.5

11.1 10.8

USDMillion

CSR Expenditure (US$ Million)

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Potential investment opportunitiesExploration and development of shale gas / oil in PPL-held block

12

According to USA EIA June 2013 publication,

technically recoverable Shale Gas and crude oil

reserves are 105 Tcf and 9 Bbls, respectively

Regional study by PPL / Eni identified areas with

good Shale Gas potential. Lab analyses of shalecores from exploratory wells underway

PPL has several acreages, where initial findings

indicate good Shale Gas potential

These blocksKotri, Kotri North, Gambat South,

Hala etc. are situated in Pakistans Lower and

Middle Indus basins

PPL would welcome joint venture with experiencedE&P companies for exploitation of Shale Gas / oil

potential in Pakistan along with transfer of

technology

Unearthing shale resource prospects Shale Gas Play Fairway

Potential Shale Gas sweet spot

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Potential investment opportunitiesProspectivity/development of conventional resource playJV partnership

13

Joint Venture for Exploration in Offshore Pakistan

Exploring /exploiting conventional petroleum play Offshore Pakistan remains severely under explored

total 17 wells drilled and most did not reach the target

reservoirs

Offshore Pakistan divided into twoIndus Basin and

Makran Basin

Indus Basin constitutes the second largest delta / fansystem in the world and estimated to hold 800 MMBbl

oil and 5 Tcf gas

Working Petroleum System established in Indus Offshore

with gas flow at exploration well PakCan-1 (1986)

PPL and Orion Energy, UK will carry out a regional

study to re-evaluate the whole of Pakistan Offshore

Large portions of Indus Offshore and the whole of

Makran Offshore open for exploration

PPL would welcome JV with experienced companies to

properly explore the Offshore Pakistan

Satellite imagery of Pakistan Offshore

Joint Venture for Exploration in Onshore Pakistan

Exploring /exploiting conventional petroleum play PPL holds a number of onshore concessions and would

consider swap of working interest from existing exploration

portfolio in return for similar mature opportunitiesinternationally.

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Potential investment opportunitiesTechnology patterning and drill venturing

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Presently, PPL outsources drilling activities

However, with multiple exploration prospects in

horizon, Company intends to acquire own rig for its

newly formed drilling armPPL E&P services

Company will also train drilling staff fordeployment in ready to drill prospects and shale

plays of Lower Indus Basin, Pakistan

Tentative plans call for importing roughly 70% of

rig equipment from E.U./U.S. companies, while

approx 30% components are to be fabricated

domestically in collaboration with Karachi Ship

Yard & Engineering Works Ltd.

PPL keen to invite potential investors for equity

participation in drilling venture

Opportunities in drilling venture Opportunities in Upstream technology center

To enable and promote domestic R&D concepts,

encompassing scientific study of both conventional

and unconventional hydrocarbons, PPL has

commissioned the creation of Upstream

Technology Center under the umbrella of PPLAsia E&P B.V.subsidiary of PPL registered in

the Netherlands

A central area where future R&D efforts will

focus includes extensive studies of shale gas and

oil deposits in indigenous basins and horizon

Robust evaluation of Pakistans offshore basins

through satellite imageries, seismic data andother G&G studies is also planned

IoCs / Majors are invited to be part of this

strategic venture, by sharing tech. / operational

knowhow and contributing equity to realise this

project

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