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A Leading Petroleum Services Provider

October 2012

Disclaimer

OverviewAgenda

ServicesObjectives

Egypt's Oil &

Gas Economy

DISCLAIMER

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The information contained in this presentation has been sup-plied by or on behalf of PICO Group (“PICO” or “Company”) and has been prepared solely to introduce PICO, and for no other purpose.

By reading these slides, you agree that all of the information contained is confidential. All such information is only directed at relevant and authorized persons who are entitled to receive it under applicable securities law and regulation. If you are not sure whether you are entitled to receive the Presentation, please seek independent advice from your legal or financial advisers. Any investment or investment activity to which the Presentation relates is available only to and will only be en-gaged in with such relevant and authorized persons, and no other persons should act or rely on such communication.

By reading this Presentation, each recipient agrees, in addi-tion to any confidentiality obligation, that neither it nor its agents, representatives, directors or employees will copy, re-produce or distribute to others the information disclosed in the Presentation, in whole or in part, at any time without the prior written consent of the Company and that it will keep permanently confidential all such information not already in the public domain.

This Presentation does not constitute or form part of a pro-spectus or an offer of or invitation to acquire shares in the Company or any other securities, assets or property whatso-ever. The information does not purport to be all-inclusive or to contain all information that a prospective buyer may de-sire. It is understood that each recipient of these slides and/or attendee at the Presentation will perform its own independ-

ent investigation and analysis of the proposed transaction, based on such information as it deems relevant and with-out reliance on the Company. It is the responsibility of any person to satisfy itself without reliance on the information made available to it in the Presentation on any matter, and no duty of care to any such recipient and/or attendee is ac-cepted the Company in relation to the Presentation. The Company has not conducted any investigation to indepen-dently verify the information contained in this Presentation. No representation or warranty, express or implied is or will be given by the Company, or directors, partners, employees or advisors or any other person as to the accuracy, com-pleteness or fairness of this Presentation and such parties do not assume any undertaking to supplement the Presen-tation as further information becomes available or in light of changing circumstances, or to correct any inaccuracies which may become apparent. Neither the Company, or di-rectors, partners, employees or advisors or any other person, so far as permitted by law and except in the case of fraud by the party concerned, have any responsibility or liability whatsoever for any representations or warranties, express or implied, contained in, or the accuracy or sufficiency thereof or for any errors, omissions or misstatements negligent or otherwise relating thereto or to any other written or oral communication transmitted to the recipient in the course of its evaluation of the proposed sale of the Company or oth-erwise. Notwithstanding the above, only those particular representations and warranties which may be made by the shareholders of the Company in a definitive written agree-ment (“Agreement”), when and if one is executed, and sub-ject to such limitations and restrictions as may be specified in such Agreement, shall have any legal effect.

This Presentation includes certain statements, estimates, tar-gets and projections provided by the Company with respect to the anticipated future performance of the Company. Such statements, estimates, targets and projections reflect signifi-cant assumptions and subjective judgments by the Company concerning anticipated results. These assumptions and judg-ments may or may not prove to be correct and there can be no assurance that any estimates, targets or projections are attain-able or will be realized. Actual results may vary materially and adversely from the projected results contained in this Presen-tation. The Company does not assume responsibility for veri-fying any such statements, targets, estimates and projections. Accordingly, neither the Company nor any of their respective directors, partners, employees or advisors nor any other per-son, shall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any statement in or omission from this Presentation and any such liability is expressly disclaimed.

This Presentation may not be taken by any recipient/attendee as discharging its own regulatory or statutory responsibilities under the applicable anti-money laundering legislation.

The distribution of these slides in certain jurisdictions may be restricted by law and, therefore, persons into whose posses-sion they come should inform themselves about, and observe, any such restrictions.

Any failure to comply with these restrictions may constitute a violation of the securities law of any such jurisdiction. These slides do not constitute an offer to sell or an invitation to pur-chase shares in the Company in any jurisdiction.

OverviewObjectives

AgendaDisclaim

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Egypt's Oil &

Gas Economy

Services

DISCLAIMER . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

AGENDA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

Group Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Tailored, World-Class Products, and Services Under One Roof . . . . . . . . . . . . . . . . . 4PICO Energy Services Group: A Leading Provider to Egypt’s Oil & Gas Sector . . . . . . 5A Clear Business Model: Providing Integrated Turnkey Solutions for our Clients in the Oil & Gas Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6A Focused Strategy: Becoming the Service Partner of Choice to Our Clients . . . . . . 7A Growing International Footprint . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Taking Compliance to the Next Level . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9A Leading Provider to Egypt’s Oil & Gas Sector . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10A Proven Track Record . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

Egypt's Favorable Oil & Gas Economy . . . . . . . . . . . . . . . . . . . . . . . . . 12Egypt’s Favorable Oil and Gas Economy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13PICO Energy has grown on the back of Egypt's petroleum sector, a strategic component of the nation's GDP . . . . . . . . . . . . . . . . . . . . . . . . . 14Successful Oil Exploration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15Attractive Fiscal Terms Support Egypt’s E&P Environment . . . . . . . . . . . . . . . . . . . 16

PICO Energy Services Group Portfolio . . . . . . . . . . . . . . . . . . . . . . . . . 17PICO Technologies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Investing Heavily in R&D to Penetrate the Logging Market . . . . . . . . . . . . . . . . . . 19

PICO Petroleum Integrated Services . . . . . . . . . . . . . . . . . . . . . . . . 20PICO Integrated Services Offers A Full Spectrum of High-Quality Services . . . . . . 21Providing High Quality, Professional Services in Egypt for more than 30 Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 . . .with Operations Covering the Entire Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23ACSPT Offers Full-Fledged Coil Tubing Activities Utilizing Only High-End Equipment for Our Clients . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24STAT Offers the Full Range of Well Testing Services . . . . . . . . . . . . . . . . . . . . . . . . 25DFT is the Up-and-Coming Leader in Egypt's Mud Services Business . . . . . . . . . . 26Case Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27Cost Saving Advantages of Integrated Services: The Petrogulf Case . . . . . . . . . . . 27Case Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28Cost Saving Advantages of Integrated Services: The Cantarell Case . . . . . . . . . . . 28PICO Marine Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29PICO Offers Marine Services: Meeting the Highest International Standards . . . . . 30PICO Energy Research & Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . 31PICO Energy Group Established the First Dedicated Research Team serving the Egyptian Energy Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32PICO Logistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33PICO Logistics Offers Dedicated Logistical Solutions for the Energy Market in Egypt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

Where Do We Go From Here? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35Leveraging Our Egyptian Platform to Expand into New Regions . . . . . . . . . . . . . . . 36Strategically Located to Benefit from an Oil & Gas Technology Hub . . . . . . . . . . . . 37Romania is a High-potential Mature Field Environment . . . . . . . . . . . . . . . . . . . . . 38The First Subsidiary of an Egyptian Company to Perform Services for PEMEX . . . . 39PICO Energy Signs a Service Contract with Compañía Petrolera de Altamira . . . . 40

3

Egypt's Oil &

Gas Economy

AgendaObjectives

Disclaimer

OverviewGroup Overview

Egypt's Oil &

Gas Economy

Services

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Egypt's Oil &

Gas Economy

OverviewDisclaim

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ObjectivesTailored, World-Class Products, and Services Under One Roof

4

Integrated services company cov-ering the gamut from develop-ment of open-hole wireline log-ging tools to well testing services, from drilling fluids technologies to world-class lift boats and logistics solutions

Fit-For-Purpose solutions are not one-size-fits-all: Our specialist teams develop tailored solutions for the most challenging needs of mature oil fields, onshore or offshore.

Best-in-Class offering developed either in-house or through rigor-ous screening and selection of products from top global brands. PICO Energy companies have been awarded a full suite of ISO and OHSAS certifications and our prod-ucts and services are certified by API-licensed machine shops.

Proven Capabilities in challeng-ing circumstances, including the ability to operate in tough offshore weather conditions.

Egypt's Oil &

Gas Economy

Services

PICO Energy Group offers upstream, marine, logistics technological and R&A services that meet the demands of high-profile national, regional, and global clients in the Middle East and the Gulf of Mexico:

Cost-Effective solutions that offer the best value for money for ma-ture oil and gas fields.

Operating Bases in every major oil producing area (Ras Shukeir, Abu Rudeis and the Western Desert) with API licensed machine shops throughout, in addition to offices in Cairo, Katamey, as well the Amreya Free Zone.

Egypt's Oil &

Gas Economy

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Objectives

Active for nearly 40 years in the Egyptian petroleum industry, PICO Energy Services Group is a leading provider of turnkey services for Egypt’s Oil & Gas.

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PICO Energy Services Group: A Leading Provider to Egypt’s Oil & Gas Sector

Upstream ServicesPetroleum Integrated Services:Integrated Drilling Services Contractor: Well planning and design. Drilling fluids. Coiled tubing and nitrogen

pumping. Testing and completion services. Total project management. Downhole rental tools: Jars and

shock subs. Solid control (JV).

Workshops: Amreya Free Zone Abu Rudeis: API-licensed ma-

chine shop. Ras Shukeir: Workshop and ser-

vice base for the GoS. Katameya Western Desert

Logistics Services: Provides complete logistical solu-

tions for the Oil & Gas sector. Transport, customs clearance and

freight forwarding . Warehousing. Base logistics (crane and transport

management).

PICO Technologies: R&D on oilfield tools. Development of proprietary tools

for oil field. Technical support for Gulf of

Mexico operations.

Research & Analysis: Produces reports on Oil & Gas

sector. Conducts segment and general

market research. Building PICO’s “knowledge

library.” Research into renewable energy,

wind farms, and solar heat and power.

Marine Services: PICO 4 Lift Boat (Gulf of Mexico). Zahraa Barge (Gulf of Suez).

Egypt's Oil &

Gas Economy

Services

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A Clear Business Model: Providing Integrated Turnkey Solutions for our Clients in the Oil & Gas Industry

As a turnkey solutions provider, the broad spectrum of PICO Energy services facilitates the process of drilling through the "Integrated Well" service model.

6

Our primary goal is to change the mindset of the oil and gas market in seeking integrated solutions and high quality products and services.

By availing the needed tools, equipment and human resources at a fixed cost per foot, oil & gas operators save the administrative and con-tractual hassles that arise when dealing with mul-tiple suppliers.

Having one contract that includes a full bouquet of downhole drilling services, logistical support and the supply and maintenance of all associated

equipment improves productivity and allows the client to meet production

plans and budgets.

The integrated services model allows the operators to focus on their core competencies and outsource these services to a specialized entity.

This model is offered through a package that includes: Fi

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Integrated Solutions

Logistics

R&A

PICO Technologies Marine ope

ration

s Integrated Solutions Logistics R&A PICO Technologies Marine operations Fit-for-purpose opera-

tions for mature fields

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A Focused Strategy: Becoming the Service Partner of Choice to Our Clients

PICO Energy's strategy revolves around (i) providing the clients with fit-for-purpose solutions, and (ii) delivering focused, dedicated service to ensure cost efficiency and quality.

Turnkey Services

Cost-Effective Solutions

RiskSharing

Project Management

QualityAssurance

Lump-Sum Pricing

HSE

International Expansion

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A Growing International Footprint

Extending the production plateau to profitably operate mature assets demands new ideas to tackle complex operational and financial challenges. PICO Energy refined its proven methodology in the demanding Egyptian market. Now a player in Mexico, the group is eyeing opportunities in Eastern Europe, particularly Romania.

PICO has operated internationally in Abu Dhabi, Sudan and Libya as well as other countries in the MENA region.

PICO Energy's current focus is on the Gulf of Mexico, where PICO Marine Services became the first subsidiary of an Egyptian company to secure a contract with PEMEX in 2011 based on its proven ability to deliver fit-for-purpose solutions for mature oil fields.

Workshop Locations: Amreya Free Zone Ras Shukeir Abu Rudeis, Sinai Western Desert Katameya

PICO Energy Group HeadquartersMaadi, Cairo

PICO Group HeadquartersZamalek, Cairo

Egypt

PICO Mexico: Poza Rica Ciudad del Carmen

Mexico

PICO Energy exploring new potential

Romania

PICO TechnologiesHouston, Texas

USA

OverviewDisclaim

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Gas Econom

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The company’s integrated QHSE management system is the heart of operations at all subsidiary companies

Taking Compliance to the Next Level

PICO Energy Group is fully compliant with all industry best practices on health, safety and environmental standards. The group lives its motto: "Safety is a team effort".

9

Key certifications held by PICO Energy Group companies include:

– ISO 9001– ISO 14001– OHSAS 18001– American Petroleum Institute

(API) Spec 7‐1 & API Spec Q1 (PICO Machine Shops, since 2002)

PICO Logistics, PICO Petroleum Services and PICO Integrated services hold SGS certifications for achieving the Integrated Management Systems (IMS) appli-cable to their scopes of work.


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A Leading Provider to Egypt’s Oil & Gas Sector

PICO Energy Services Group's companies operate in Egypt, the United States and Mexico, serving major domestic and international clients

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Among our valued clients

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A Proven Track Record

PICO Energy Group delivers fit-for-purpose solutions to complex challenges by drawing on:

A Track Record of Service Decades of experience serving national and global clients

Global Partnerships

Proven ability to operate in Gulf of Mexico, even under challenging offshore weather conditions Successful track record in United States, Mexico, Abu Dhabi, Libya and Sudan PICO 4 lift boat dedicated to complicated workover operations, offers major personnel safety advantages World-class facility to research, develop and manufacture sophisticated oil field equipment and tools in Houston,

TX

Certification Meet client expectations and diligence requirements with full suite of ISO, OHSAS and API certifications

World-Class Portfolio of

Brands

Own brands meet toughest global standards and have won wide industry acceptance in challenging deployments From fluids to slick line services, acquisition memory gauges to coiled tubing, stimulation and pumping technolo-

gies, PICO Energy's portfolio of brands include global leaders in their fields

PICO Petroleum ProjectsFirst Egyptian company to provide market-ing and research services for the oil and gas sector, solicited by Haliburton, Weatherford

Logging ServiceFirst Egyptian company in the region to own and operate logging equipment with Gearhart

PICO OilFirst Egyptian company to own oil concession fields

PICO OilFirst Egyptian company to own and operate Oil & Gas concession fields

PICO EnergyFirst Egyptian holding com-pany dedicated to investing in the Egyptian and regional energy sectors

PICO Integrated ServicesProviding total drilling manage-ment services for the Oil & Gas sector

Drilling Fluids TechnologyExpanding into the mud busi-ness, providing standard inter-national drilling fluids services to the Oil & Gas sector

PICO RenewablesSignings of MOUs and sanctioning the feasibility with NREA for studying of two wind farms with capacities 350 MW and 250 MW

PICO Marine ServicesPICO Marine Services lands Pemex contract for Cantarell Field

1974 20071991 20081985 20081995 20112006

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Egypt's Favorable Oil & Gas EconomyEgypt's Oil &

Gas Econom

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Egypt’s Favorable Oil and Gas Economy

Egypt’s long-term fundamentals offer opportunities for oil & gas Companies — and the companies that serve them.

Oil Reserves (Remaining) 4.4 billion barrels (1/06/2010)Liquids Production 736 thousand b/d (2010)Liquids Reserves/Production 16.7 yearsGas Reserves (Remaining) 78.0 tcf (end 2010)Gas Production 5.9 bcfpd (2010)Gas Reserves/Production 36.2 years

(BP Statistical Review of World Energy, June 2011)

(BP Statistical Review of World Energy, June 2011) (BP Statistical Review of World Energy, June 2011)

Gross Oil Production:Oil production in Egypt rose significantly after the Second World War with sizeable discoveries in the Gulf of Suez. Production reached a peak of 922,000 bpd in 1993, and has since declined to about 700,000 bpd.

Gross Gas Production:Natural Gas has emerged as a major factor as local demand and production has risen significantly in recent years.

Egyptian gas production has more than doubled from 3 bcfpd in 2003 to 5.9 bcfpd in 2010 — exports and strong domestic demand are key drivers behind increased production levels.

Key Facts:

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Despite a brownfield environment, Egypt’s petroleum sector accounts for a notable portion of the country’s GDP — 15.6% in fiscal year 2008-2009. The sector’s national importance encourages supportive fiscal arrangements.

PICO Energy has grown on the back of Egypt's petroleum sector, a strategic component of the nation's GDP

3.7 3.53 .5 3.6 4.1 4.2 4.4

0

1

2

3

4

5

2001 2002 2003 2004 2005 2006 2007 2008 2009

7 73. 3.

Proven Gas Reserves

Proven Oil Reserves Oil Reserve Replacement Ratio

0.00

0.50

1.00

1.50

2.00

2.50

198

0

198

2

198

4

198

6

198

8

199

0

199

2

199

4

199

6

199

8

200

0

200

2

200

4

200

6

200

85.8 7 7.7 10 11.44.4

8.39.9

1315.1

0

5

10

15

20

25

30

0

10

20

30

40

50

60

70

80

Perc

ent

annual

Gro

wth

Oil and Gas Revenue (in USD billions)

0%

50%

100%

150%

200%

250%

2001 2002 2003 2004 2005 2006 2007 2008 2009

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Oil exploration success creates a low-risk environment.

Successful Oil Exploration

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

0

5

10

15

20

25

30

35

40

Egyptian exploration has been highly successful in the last ten years, maintaining a rolling aver-age success rate above 25%.

Recent exploration in Egypt’s Western Desert offers significant new opportunities.

Drilling Activity and Commercial Success Rates (1987-2009)

0%5%10%15%20%25%30%35%40%45%50%

0

20

40

60

80

100

120

140

1987 1992 1997 2002 2007

Wells Success Rate (%)

No.

of

bloc

ks

Source: Wood MckenzieSource: PICO AnalysisEastern Desert

Gulf of Suez

Mediterranean

Nile Delta

Red Sea

Sinai

Upper Egypt

Western Desert

Block Tenders — Egypt

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Attractive Fiscal Terms Support Egypt’s E&P Environment

Royalties and taxes are paid from government’s profit share, giving Egypt one of the most stable fiscal systems

Parliamentary approval establishes each PSC as a stand alone law, ensuring against nationaliza-tion and expropriation of projects

The ability to claim reserves as assets increase access to finance

Abandonment – Contractors are not liable for abandonment and site remediation costs which are funded from EGPC’s share of profits, en-couraging government partners to extend li-cense periods to defer abandonment

Export rights allow producers access to global prices

Main Advantages of Egyptian PSC Structure Egypt’s Marginal Tax on Oil (As a Percentage of Revenues)

30%

40%

50%

60%

70%

80%

90%

100%

Source: BMI

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PICO Energy Services Group Portfolio

Egypt's Oil &

Gas Economy

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Services

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Disclaimer

AgendaInvesting Heavily in R&D to Penetrate the Logging Market

PICO Technologies is PICO Energy Group’s US, Houston-based subsidiary for investment in the Research, Development and Manufacturing of sophisticated oil field equipment and tools, be-ginning with open hole wireline logging tools.

In Phase One, PICO Technologies has success-fully developed electronic upgrades to low cost basic open hole logging tools (triple Combo) with successful field testing.

Work is in progress on a new patented TBI (Thin Bed Array Induction), expected to be ready for pilot production by the end of 2012.

PICO Technologies has an effective cost struc-ture and expects to deploy its tools at very com-petitive rates (Gearhart Model).

The company has been approached by multiple institutional investors based on the potential of its value to the open hole logging market.

PICO Technologies is able to operate in a field dominated by the global majors

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Services

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AgendaPICO Petroleum Integrated Services

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Services

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AgendaPICO Integrated Services Offers A Full Spectrum of High-Quality Services

Common Challenges Facing Oil CompaniesResource Scarcity: Difficulty sourcing tools, equip-ment and highly qualified staff.Competing Interests: No alignment of interests be-tween the players.Administrative and Contractual Hassles: Too many contracts and too many contractors, all vying for different results.Typical Result: Lost productivity, misaligned logis-tics and a culture of blame.

Integrated Services Offers Solutions:Resources: Committed availability of tools, equipment and human resources at fixed costs on a lump-sum basis.Alignment of Interests: Alignment of interests between parties results in smoother processes with fewer hassles.Contract Clarity and Logistical Support: One con-tract that includes logistical support adds to the smoothness of the process.Typical Result: Improves productivity, quality performance and allows the client to meet pro-duction plans and budgets.

PICO Integrated Services: Utilizing the best technical and drilling cali-

bers, meeting all time needs during drilling activity.

Subcontracting only to the most reputable, quality service providers.

Risk sharing. Deploying advanced, up-to-date tools and

techniques. Aligning service providers and customer.

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Services

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AgendaProviding High Quality, Professional Services in Egypt for more than 30 Years...

Through its network of subsidiary companies, PICO Petroleum Integrated Services offers the full spectrum of services required by Egypt's Oil & Gas companies.

Petroleum Integrated Services: Well planning and design. Drilling fluids. Coiled tubing and nitrogen

pumping. Testing and completion services. Total project management. Downhole rental tools: Jars and

shock subs. Solid control (JV). Workshops:

- Abu Rudeis: API-licensed ma-chine shop.

- Ras Shukeir: Workshop and ser-vice base for the GoS.

- Maadi Head office- Katameya Yard- Western Desert Yard- Amreya Free Zone

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Inspection

Workshops

Advanced CoiledTubing

Drilling Fluids Technology (DFT)

Stimulation & Pumping

Technologies

STAT Testing Technologies

Jars & Shock SubsSoil Control (JV)

PICO Petroleum Integrated Services

Services

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Egypt's Oil &

Gas Economy

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Objectives...with Operations Covering the Entire Market

Preferred Supplier:Drilling hydro-mechanical, fully-hydraulic jars, drilling ac-celerators, shock subs.

Hydra-HE Group Tools: PICO Petroleum Services introduced Hydra-HE Group Tools to the Egyptian market in 1996.

Qualifications: ISO 9001-2000, ISO 14001-2004 and OHSAS 18001-2007 certified and all workshops are API approved.

Quality Control: PICO has a full package of drilling jars and shock subs that have been expertly prepare under stringent quality controls by some of the most experienced people in the business.

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Machine Shops PICO Oilfield Machine Shops offer comprehensive

manufacturing and repair facilities staffed by ma-chinists with more than 25 years’ experience in the Egyptian Oil & Gas sector.

The machine shop offers the full spectrum of machin-ing products and services, utilizing specialty machines and extensive experience to repair and manufacture drilling equipment, milling and fishing equipment.

PICO Oilfield Machine Shops are capable of repairing and re-threading API threads on tubing, casing, subs, drill pipes, drill collars, and all the other down-hole equipment.

Locations: Amreya Free Zone Ras Shukeir Abu Rudeis, Sinai Western Desert Katameya

PICO Energy Group Headquarters, Maadi, Cairo

PICO Group Headquarters, Zamalek, Cairo

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ACSPT Offers Full-Fledged Coil Tubing Activities Utilizing Only High-End Equipment for Our Clients

Pumping Services

"NOV" Nitrogen Services"NOV" Coiled Tubing

We provide a variety of advanced Coiled Tubing, Stimulation and Pumping Technologies. ACSPT team members have a leading edge driven by their ability to provide superior technology and best service quality. The competitive skills and ability to deign and render legible stimulation solu-tions to improve reservoir economics and enhance the original permeability of the pay zone. Coiled Tubing are available in 1 ¼”, 1 ½” and ¾” sizes for low pressure and high pressure reservoirs as well as standard and H2S res-ervoir conditions.

For vertical, horizontal and deviated wells, both on land and offshore, since 2009: Drilling Logging Milling Stimulation Fluid displacement Sand control CT conveyed perforating Wellbore cleanout Remedial cementing Permanent installations Water shutoff CT as flow line Fishing Removal of wax, hy-

drocarbon or hydrate plugs

Flow control of hori-zontal and deviated completions

Setting and retriev-ing bridge plugs and packers

C&T Stimulation Technology:

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STAT Testing Technology:

Established in 2008, utilizes and implements the full fledge of Slick Line Services, Testing (Down Hole Testing Services, Surface Testing Services & Early Production Facilities), Acquisition Memory Gauges and TCP Services. STAT team members have strong experi-ence in the local and international markets

Manufacturers include:

2512

Well Testing Well Testing ServicesServices

(WT)(WT)

Surface Well Surface Well Testing (SWT), Testing (SWT),

TMU, EPF,TMU, EPF,SamplingSampling

DrillstemDrillstemTestingTesting(DST)(DST)

SlicklineSlickline(SL)(SL)

MemoryMemoryGaugesGauges

(MG)(MG)

Multiphase Multiphase Flow MeterFlow Meter

(MPFM)(MPFM)

Covering the entire scope for Well Testing services …

Surface Well Testing (SWT),

TMU, EPF, Sampling

Drillstem Testing (DST)

Slickline (SL)

Memory Gauges (MG)

Multiphase Flow Meter

(MPFM)

STAT Offers the Full Range of Well Testing Services

Well Testing Services (WT)

Services

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Established in 2007, DFT provides customers with reliable, customized and high-quality engineering services. DFT serves customers with the support of its lab in Amreya, among the best labs in the Middle East and North Africa region, its HYDROPRO Software and the R&D support of Intertek Caleb Brett Lab in Houston. DFT provides the full gamut of Drilling Fluids products and systems for WBM & OBM that ranges from traditional to cutting-edge, high technology products and systems together with DIF (drill-in fluids) components. DFT’s strong reputation is a well-earned function of its performance, diverse skill set, and success in improving well integrity.

DFT is the Up-and-Coming Leader in Egypt's Mud Services Business

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Services

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AgendaCase StudyCost Saving Advantages of Integrated Services: The Petrogulf Case

27

Services

With rig prices climbing 2x faster than the price of oil in a Brilliant-Time environment, integrated services doesn't just save money — production starts faster

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259 179 80Plan Days Actual Days without Petrogulf NPT Net Days Saved / Early Production Start

258 .65 mn USD 178 .84 mn USD 11 .97mn USDBudget without IS Cost with IS Net IS Savings

1,54 USD 1,316 USD 17%

(12 .37 mn USD)Average cost/foot without IS Average cost/foot with IS Savings

IS Savings

11 .97mn USD

Petrogulf Fields: Planned vs . Actual Days

0

50

100

150

200

250

300

Plan DaysActual Days W/O Petrogulf NPTNet Saved Days

TW-6 GA-11 GA-2A/2B GA-10A GA-1A GA-9A GD-5ST2 GD-2A Total SavedDays


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AgendaCase StudyCost Saving Advantages of Integrated Services: The Cantarell Case

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Services

Providing Workover Integrated Services as a complete package for customers, achieving:

Upstream


Cantarell: Planned vs . Actual Days Cantarell Cost Savings (mn USD)

0

5

10

15

20

25

30

35

40

PMEXPICO

53% cost savings

Reduced time for lift boat mobilization since the new boat, PICO 4, will be able to move through most weath-er conditions in the Gulf of Mexico

Reduced losses resulting from lack of coordination between the different services and extra services that were not accounted-for in the plan

Reduced cost and time that is lost in waiting for equip-ment and services

No production downtime as PICO 4 can approach a platform using DP system

0

10

20

30

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60

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80

90

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Planned DaysActual DaysNet Saved Days

Job 1 Job 2 Job 3 Job 4 Job 5 Job 6 Job 7 Job 8 TotalDaysSaved


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AgendaPICO Marine Services

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Services

Marine


Gas Econom

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AgendaPICO Offers Marine Services: Meeting the Highest International Standards

Al Zahraa Barge, Gulf of Suez:

Mobile offshore working platform in Egypt’s Gulf of Suez.

Characteristics: Deck Length x Width = 33.5 m x 33.5 m. Barge Thickness (Hull) = 4.27 m. Length of Legs = 71 m & diameter of 3 m. Main Deck Free Space = 400 m2. Maximum Deck Load = 450 tons. Legs are jacked up by two hydraulic pistons. Jacking Speed = 1 ft/min. 2 tugboats are needed to move Zahraa at a speed

of 2 m/s or 7 km/h.

PICO 4 Lift Boat, Gulf of Mexico:

PICO 4 is a self propelled, self elevated, crane equipped marine platform suitable for most offshore operations including workover, completions, construction, & proj-ect work. PICO 4 offers major personnel safety advan-tages over rigs or fixed platforms and is dedicated for complicated workover operations.

Characteristics: Independent leg applies maximum pressure on

the seabed to achieve the highest stability. Jacking speed = 8 ft/min. Seatrax Cranes based on proven and perfected

designs to withstand most adverse operating conditions.

DP system (ABS classified). Lifeboats and life rafts installed on PICO 4.

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Services

Marine


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AgendaPICO Energy Research & Analysis

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Services

Energy Research & Analysis


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Agenda

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PICO Energy Group Established the First Dedicated Research Team serving the Egyptian Energy Market

PICO Energy Research & Analysis is a leading Egyptian consultancy house, spe-cialized in the Energy industry.

Through our diversified team of experts, comprehensive databank and wealth of knowledge we set ourselves apart from other consultancy houses.

Providing our clients with customized stud-ies we ensure they have access to thorough and accurate information to assists them in their decision making processes.

We evaluate and assess potential projects and implement better solutions by deter-mining future road blocks.

Asset Valuation Studies

Drilling and Rigs Activity Recap

Energy Subsidies Methodology R&A Offers Service Market

Reports

Oil & Gas Market StudiesConcession Maps

Egypt Energy Subsidies Report

PICO Energy Research Sample Publications

Services

Energy Research & Analysis


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AgendaPICO Logistics

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Services

Logistics


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PICO Logistics Offers Dedicated Logistical Solutions for the Energy Market in Egypt

PICO Logistics draws on more than 25 years of suc-cessful logistics in a wide range of industries within the PICO Group of Companies.

The company is engaged in the most vital sectors of the Egyptian economy ranging from energy to agriculture, industrial, real estate, food retails and investment.

Services provided include: Warehousing Inland trucking & distribution Worldwide freight forwarding using multi modal

transportation Customs Clearance Removals – Pick & Pack Fairs & Exhibitions Spares Logistics Catering E-Logistics Free Zone Operations

Services

Logistics

ServicesEgypt's Oil &

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AgendaWhere Do We Go From Here?

International Operations


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Leveraging Our Egyptian Platform to Expand into New Regions

In addition to establishing a stronger footlhold in our core market in Egypt, PICO Energy is focused on regional and international growth opportunities in markets where clients are looking for innovative solutions to capture untapped potential in mature fields. International expansion provides PICO Energy with ideal opportunites to use its expertise to introduce new and efficient ways of extracting oil.

Mature fields account for over 70% of the world's oil and gas production. The average recovery factor for gas is 70% and for oil is only 35%. Given the vast reserves remaining in these fields, every percentage point increase in recovery could generate a two year global supply of hydrocarbons


Workshop Locations: Amreya Free Zone Ras Shukeir Abu Rudeis, Sinai Western Desert Katameya

PICO Energy Group HeadquartersMaadi, Cairo

PICO Group HeadquartersZamalek, Cairo

Egypt

PICO Mexico: Poza Rica Ciudad del Carmen

Mexico

PICO Energy exploring new potential

PICO TechnologiesHouston, Texas

USA


Gas Econom

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AgendaStrategically Located to Benefit from an Oil & Gas Technology Hub

Strategically located in Houston, Texas within close proximity to an international Oil & Gas technology hub PICO Technologies has successfully gained market share amongst leading global competitors by developing supe-rior, differentiated and cost effective oilfield tools and equipment.

With a team of more than 20 employees and contrac-tors, Houston-based PICO Technologies has developed electronic upgrades to low-cost basic open hole logging tools with successful field testing

Work is currently in progress on a new patented TBI (Thin Bed Array Induction), expected to be ready for pilot production by the end of 2012.

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PICO Technologies is an up-and-coming provider of sophisticated oil field equipment and tools



Gas Econom

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AgendaRomania is a High-potential Mature Field Environment

38

Romania’s Hydrocarbon Profile Significant producer since 19th

Century Several highly prolific petro-

leum basins ~ Carpathian and Pannonian Basins

Proven oil reserves: 500 MMbbl Proven gas reserves: 21 Tcf

Extensive Oil Industry Capability High quality professionals Seismic and geological contractors Drilling and engineering expertise

Commercial Regime Concession agreements Royalty and tax on profit (16%) No state participation in E&P Royalties: typically 3.5% Gas pricing fixed by state Gas price increase / EU regulation EU ensures transparent licensing

Exploring new opportunities in new untapped markets like Romania is inline with PICO Energy's international growth strategy



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39

The First Subsidiary of an Egyptian Company to Perform Services for PEMEX

PICO Mexico:Poza RicaCiudad del Carmen

Objective of contract: Design and perform inte-grated workover in the wells of the Northeast Marine Region of Pemex using a self propel self elevator platform fully equipped.

Contract Term: 1 year Renewable: based upon mutual agreement

Volume of work: 36 major & minor workovers. Contract amount: USD 86-110 million. Bonus/Malice: First contract as per New Pemex law to apply bonus system for work completed before planned days.

Characteristics: Independent leg applies maximum

pressure on the seabed to achieve the highest stability.

Jacking speed = 8 ft/min. Seatrax Cranes based on proven

and perfected designs to withstand most adverse operating conditions.

DP system (ABS classified). Lifeboats and life rafts installed on

PICO 4.

PICO 4 Lift Boat Gulf of Mexico

PICO 4 is a self propelled, self elevated, crane equipped ma-rine platform suitable for most offshore operations including workover, completions, con-struction, & project work. International

Operations


Gas Econom

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AgendaPICO Energy Signs a Service Contract with Compañía Petrolera de Altamira

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PMEX's Altamira has current 2P reserves that are estimated at approximately 10 million barrels of oil with substantial upside potential


A Field Development Plan, is cur-rently being developedto include a major drilling program as well as several technological improvement pilots that, once successful, are expected to have strong impact on the current daily production levels.

The initial plan over the next two years is to shoot a large area of 3D seismic and drill over 15 develop-ment wells with a view to ramping up the field’s production.

Entry into the Mexican market follows a proven track record in Egypt’s Gulf of Suez,


Disclaimer

OverviewAgenda

ServicesObjectives

Egypt's Oil &

Gas Economy

Thank You

Documents

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