SAMIR’S PROJECTS

27 March 2012

By Mr. Abdulrahman Al- Jusha’ah Planning & Distribution Director

Strategic Positioning of SAMIR

SAMIR Strategic Role:

Provide continuous and permanent supply of all Petroleum Products for the Kingdom of Morocco

Ensure strategic inventory

Undertake all necessary investments to develop the refining industry and the logistic infrastructure for the supply in line with the guidance of sustainable development

Contribute to Economic development and Human initiatives.

Moroccan Global Energy Demand

2010

GDP 7%

Consumption MTEP 16.1

Production MTEP 1.1 *Source: MEM Annual report 2010

10 4

3 Oil

Coal

Other

SAMIR refinery is in top ten refineries of Southern Europe in terms of technological progress.

SAMIR is one of the most modernised refineries in Africa and oil-producing Arab countries, in term of technology for production of Gasoil 50ppm.

SAMIR occupies the third rank in Africa as classified by Jeune Afrique, after Sonatrach (Algeria) and Sonangol (Angola).

Positioning in the Regional Economy

Medroc Group of Companies (Cyprus)

SAMIR Morocco capacity 10 million tons

per year

Sheikh Mohammed Hussein Al Amoudi

Corral AB (Sweden)

100%

100%

67%

Sweden PREEM capacity 15 million tons per

year

100%

Position within Coral Corporation

Refining

Transportation Logistics And

Storage LPG

Engineering And

Configuration

Mohammedia 100%

Sidi Kacem (storage site)

100%

TSPP 100%

Salam Gaz

50%

Somas 38%

ACAFE 100%

Pegasus Eng 34%

AFRIC BITUM 50 %

Distribution

SDCC 100%

Group SAMIR - Morocco

Business Model

Trading

Marketing

&

Sales

Marine

Refining

Dis

trib

uto

rs N

atio

nal

Mar

ket

Export

Cru

de

Oil

Su

pp

ly

Storage &

Logistic

Refining Market

Phase 1

1997-2002

Completion of the privatisation process integration of refineries Mohammedia, Sidi Kacem Modernisation of management and governance

1.2 Billion DH

SAMIR the first company in Morocco achieved as a result

more than one billion DH in the

year 2000

Phase 2

2003-2005

Rehabilitation and modernisation of Mohammedia refinery after the floods that have defined the city of Mohammedia and the region in November 2002

1.4 Billion DH

Refinery upgrade according to the

European standards in the field of safety and early marketing

of 350 ppm

Phase 3

2004-2006

Modernising the technology of control, guidance and safety Repair and restoration of tanks and modernise and develop the infrastructure facilities and logistics

1 Billion DH

Increase the safety level of the process

units

Phase 4

2006-2009

Modernisation project - Mohammedia refinery

13 Billion DH

Match the quality of products to the specifications of

Euro4 Euro5 The first compound for refining in Africa and the Arab world

Phase 5

2009-2012

Expansion of refining capacity, 4 + million tons per year Double the capacity of asphalt production to 560 thousand tons per year

2 Billion DH

Meet the growing demand on the

subjects: industrial fuel oil and asphalt

at the request of ministries

commandment

Investment of 18.6 Billion Over 15 Years

1959: Creation of "SAMIR" by Morocco and the Italian office of fuel ENI

1997: Privatisation of "SAMIR" and conversion of 67% of the capital to "Corral.“

1999: Merge of SAMIR and SCP

September 2005: Commencement of Mohammedia refinery modernisation

November 2008: Commencement of Topping 4 project to increase refining capacity

June 2009: Production of Gasoil 50 ppm

March 2010: Operation of the Hydrocracker

July 2011: Production of Bitumen from the new unit of 280 K tons per year

June 2012: Expected commissioning of Topping 4 unit (raising the national Refining

capacity to 10 million tons per year or 200 thousand barrels per day).

Key Events

Dirham Percentage %

Turnover 37 billion

Value-added 2.3 billion 6.2

EBITDA 2 billion 5.4

Inventory 7.3 billion 20

Investment 0.9 billion

Total capital 4.7 billion

Long-term debt 4.5 billion

Short-term debt 9.8 billion

Net result 836 million 2.26

Refining 6.5 million tons

Sales in the national Market 6 million tons 75

Export 0.7 million tons

2010 Indicators

000 Tons

5 702

6 080

814

707

5000

5200

5400

5600

5800

6000

6200

6400

6600

6800

7000

2009 2010

Export

DomesticSales

000 Tons

2010 Sales

Local sales Global Sales

6 516

6 787

Product Specifications

Gas oil: Euro 4 and 5

Gasoline: Euro 3

Certifications

ISO 9001 (2000);

ISO 14001 (2004);

ISO 17025 (2006);

OHSAS 18001 (2007);

NM 00.5.801 (2009);

Health, Safety, Security & Environment

Emission Upgrade Unit

93

73 68 63

56

43 50

21 27

32 39

53 46

2002 2006 2007 2008 2009 2010 2011

SO2 Emission Evolution

Evolution SO2 - T/J Reduction - SO2%

HSE Performances

0

2

4

6

8

10

12

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Frequency Rate Refinery

Target

Composite / Unit Annual production capacity

Hydro skimming refinery 10 million tons

Hydrocracker Complex

Hydro treatment plant

Hydrocraking

55 000 bbl /d

36 000 bbl/d

Lubes Complex 120 000 tons

Bitumen Complex 560 000 tons

Cogeneration Plant 40 MW

Reverse Osmosis Unit 2 million cubic meters

Sour water treatment unit 1 million cubic meters

Storage Capacity 2 million tons

Pipeline 14” (Mohammedia / Sidi Kacem) 1.5 million tons

Pipes: Production sites, Tank Farm and port Multiple

Current Configuration of SAMIR Refinery

Key Contributors

PMC/Feed: Foster Wheeler

Detailed Engineering: Saipem

Construction: Tekfen

Cogen Contractor: Litwin

Project Cost

Engineering services: 149 M €

Procurement: 410 M €

Construction: 262 M €

Commissioning services: 37 M €

Owner cost: 41 M €

Total: 899 M €

Budget over run: 35%

Technology

Hydrocracker: Chevron

Hydrotreater: UOP

Hydrogen: KTI

Sulfur: Parsons

DCS: Yokogawa

Commissioning

Phase 1: All units except VDU & HCK – June 2009 Phase 2: All Complex – March 2010 Schedule deviation: 15 months

Key Units

Upgrade Project

VDU: 360m3/h

HCK: 239 m3/h

Distillate Hydrotreater: 364 m3/h

Hydrogen production: 220 TPD

Sulfur Recovery: 470 TPD

Amine Regeneration: 382 m3/h

Sour Water Stripper: 109 m3/h

New Configuration

3%

8% 5%

36%

8%

40%

LPG

Gasoline

Jet

Gasoil

Naphta

Others

Post Upgrade Yields

1%

7% 6%

50%

9%

27%

Before Upgrade After Upgrade

14

SAMIR will secure supplying of local market till 2025

Key Contributor

EPC :Porners

Project Cost

LSTK Contract : 21 M €

Technology

Biturox® Licence

Commissioning

All units: July 2011

Key Units

Bitumen Blowing Unit

Unit 16A - Bitumen Blowing:

800 TPD or 280 K tons /year

Unit 84A - Bitumen Storage and

Loading

BBU Unit

Key Contributors

Detailed Engineering: Tecnicas & Reundas

Construction: Tekfen

Project Cost

Engineering services: 23 M €

Procurement: 63 M €

Construction: 44 M €

Commissioning services: 3M €

Owner cost: 7 M €

Total: 140 M €

Technology

Merichem:

Expected Commissioning

All units: June 2012

Key Units

Crude Distillation Unit n°4 Project

CDU 4: 4 million tons

Merox kerosene unit: 600 000 Tons

Revamping of LPG units

Products of Topping 4 Units

LPG: 365 K tons /y

Stabilised Naphtha: 617 K tons/y

Kerosene : 600 K tons/ y

Gasoil to Hydrotreater: 1 150 KT/Y

Atmospheric Residue: 1 268 K T/Y

Management Information System

SAMIR has strong Information technology

accompanying the modernisation of the

company:

SAP : 10 modules

PI : Plant Information system

LIMS: Laboratory Management system

Sigma fine 4

EDMS & Technical EDMS

Operational Excellence

Technical assistance

Maximum & optimal HC feedstock

Maximum jet fuel production

Maximum LPG production

H2 management

Maximum diesel production

Minimum Fuel oil

Integration HC & lubes

0

50

100

150

200

250

300

0

500

1000

1500

2000

2500

3000

0 1 2 3 4 5 6 7 8 9 10 11 12

Ga

in i

n M

$/y

Co

st

ink

€

Month

TSA cost and potential gain (2012 budget prices)

Cost WO1 Cost WO 2 to 8 Cost all WO Gain WO 2 to 8

SAMIR singed a Technical Services Agreement (TSA) with Beicip Franlab to help increase its profitability and technical excellence. The following Work Orders will be completed in the next 3 years:

1. Project to establish a company for distribution: waiting for the company's license from the Ministry of Energy, Mines and Water and the Environment since June 2011

2. Natural gas project: SAMIR is a strategic partner for the project as its natural gas consumption may range from 1 to 1.5 billion cubic meters.

3. Contributes to the establishment of the national network for the transfer of petroleum products through pipelines:

Linking Mohammedia refinery with Mohammed V Airport.

The project of building a regional third party storage Tensift Haouz Marrakech and Mohammedia refinery linked through a pipe.

Future Projects for SAMIR

Development of SAMIR Group

SAMIR is developing its partnership to reinforce and

diversify the activities.

Transport & Storage of Petroleum Products : TSPP

Activities : SAMIR logistics

Transport of oil products,

Operation and maintenance of pipeline 14”,

Transport of liquid sulphur by tracks,

Development of pipeline networks,

Development of oil storage and terminal in Morocco.

21

Académie Africaine de l’Energie: ACAFE

SAMIR created the ACAFE with the support of the African Refiners Associations:

Reinforcement and corporation between the African Operators in energy and

refiners

Partners: IFP Training, Hassan II, IRA Africa university, Johannesburg, CNPP

university, Francis Lefebvre, ESSEC, HEC-Paris, ISCAE, Abidjan Management school,

Veolia Campus university, Alger university, Mohammedia school of engineers,

ENIM, Euro-Mediterranean Institute in Risk Sciences, Welding Institute of France.

Mission: Development of managerial and technical skills of National and African

refiners

22

PSI Engineering S.A

Engineering company created in partnership between SAMIR and Pegasus TSA

Inc (Pegasus TSI Inc is a private company in Floride, USA, and worldwide):

Projects of engineering, procurement, construction, management and

commissioning

Support to SAMIR refinery and other activities in Morocco and its regions

23

Afric Bitumes

Company created in partnership between SAMIR and a major operator in the

bitumen sector :

Export of Bitumen, mainly to African countries

Grasp opportunities and present interesting margins

Establish regional storage mainly in West Africa

24

Société de Distribution Carburant et Combustibles - SDCC

SDCC created to develop down stream integration to reach end consumers and

increase SAMIR competitiveness:

Ensure direct distribution

Target the big consumers: ONE, RAM, OCP,...etc

Increase revenues

Develop smart synergies between SAMIR Subsidiaries (TSPP, SALAMGAZ,

AFB..);

25

Thank you for your attention

www.samir.ma