www.conapri.org Executive Resume of the Hydrocarbon Services Business Profile (2006), edited by the Venezuelan Council for Investment Promotion, CONAPRI Get the complete version at the www.conapri.org Virtual Store

1. Executive Resume HYDROCARBON SERVICES This publication has been made possible with the support of: Camara Petrolera de Venezuela (Petroleum Chamber) Caracas, July 2006 Get the complete version at www.conapri.org Virtual Store

4. COUNTRY PROFILE and legal regime Imagen 6,5” x 5”

7. Obtain a visa Incorporate the company Register company with tax authorities Register company’s investment Register company with social security agency Register company with INCE Business Visitor’s Visa Investor Visitor’s Visa Decide on type of company Name the company Pay in minimum required capital File with Mercantile Registry Publish incorporation papers Banking Oil and gas Insurance Mining Other sectors Draw up articles of incorporation and bylaws General Legal Framework

8. Imagen 14,61 x 10,61 International ENERGY ENVIRONMENT

10. Worldwide Consumption Source: British Petroleum (BP) North America, principally the United States, is the region that consumes the most, at 24,8 million barrels per day, followed by Asia with 23,9 million barrels per day South and Central America Europe and EuroAsia Middle East Asia Pacific North America

11. The National CONTEXT

13. Diversified capacity Crude oil PRODUCTION Capacity 4 MMBPD REFINING Capacity 3,3 MMBPD ORIMULSION Capacity 6,2 MM Ton / year EXPORTS 2,6 MMBPD PETROCHEMICAL Capacity 10 MM Ton / year COAL Extraction Capacity 7,6 MM Ton / Año Source: Pdvsa

14. Production, consumption and reserves Source: BP Venezuela produced 2,6 to 3,2 million barrels per day in 2005, whereas it consumed 525 thousand barrels per day. The country contributed 71% of the region’s production and 4% of total world production for 2005, This production has not yet reached the levels obtained in1998.

15. Oil industry 1994-2003 Source: Ministry of Energy and Petroleum, PODE 34,744 37,460 41,618 41,471 37,350 42,434 40,712 39,406 38,162 32,182 MMM3 Natural gas ** 1,025,508 1,092,806 1,219,746 1,151,436 1,116,705 1,215,120 1,153,400 1,088,850 1,021,635 955,352 MB Crude oil 2,810 2,994 3,342 3,146 3,059 3,329 3,160 2,975 2,799 2,617 MB/D Crude oil * Production 4,245,691 4,171,812 4,199,276 4,179,108 4,155,049 4,150,093 4,120,762 4,051,533 4,064,653 3,964,616 MMM3 Natural gas 77,140 77,154 77,783 77,685 76,852 76,108 74,931 72,667 66,329 64,877 MMB Crude oil Proven reserves 122,2 111,4 100,9 100,8 111,2 97,8 101,2 102,8 106,5 123,2 years Natural gas 70,6 63,8 67,5 67,5 68,8 62,6 65,0 66,7 64,9 67,9 years Crude oil reserves Production 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 Item / years

17. Investment Opportunities Source: The Oil Chamber

20. How to contact us Web site htttp://www,conapri.org Phone: +58 212 953 1946 Fax : +58 212 953 3915 Address Calle Guaicaipuro Torre Forum Ground floor, office LC-A, El Rosal Caracas 1060, Venezuela