PETROLEUMCOMPANYINTERNATIONAL

TURKISH

MILESTONESMILESTONES

1988

19901999

20002001

20032005

20062008

20092010

2011

TPIC realized its first exploration&production projects in Australia, Indonesia, Pakistan and Egypt until 1996.

TPIC was founded as the subsidiary company of Turkish Petroleum Corporation (TPAO) by the Decree of the Council of Ministers.

Exploration activities in West Qarun (Egypt) resulted in oil discovery.

Drilling and workover services provided within the scope of TEPCO Project in Kazakhstan, are TPIC’s first oilfield services abroad.

TPIC imported 2 million tons of gasoil from Iraq.

Within the scope of “Oil for Food” project, until 2003, 5.4 million tons of crude oil was brought from Iraq and sold to TUPRAS.

20 wells were drilled in the Khurmala Field of Iraq.

1.5 million tons of gasoil, gasoline, kerosene and LPG were sold to SOMO/Iraq Petroleum Marketing Company until 2007.

TPIC provided more than 130 well completion services to KazakhOil Aktobe in Kazakhstan.

TPIC launched drilling activities in Georgia, soon after completed similar projects in Syria and Turkmenistan.

Geothermal activities were started.

TPIC commenced drilling, well completion and workover services within TPAO Licenses in Turkey.

TP Petroleum Distribution Company, a TPIC subsidiary, was founded.

5 wells were drilled for Kazakh Turk Munay (KTM) Company of Kazakhstan.

TPIC commenced exploration&production projects in Gonzalez and Maria Conchita Blocks in Colombia.

For TP Petroleum Distribution Company, 572.000 tons of gasoil was supplied from international markets, until today.

TPIC started fuel-oil shipments to KIB-TEK (Northern Cyprus) Teknecik Terminal.

The turnkey contract related to the drilling of 45 wells in the Super-Giant Rumaila Field of Iraq was signed and revised on 2010 and 2012 respectively with Iraq’s SOC (South Oil Company).

30.000 tons of gasoil was supplied to Libya during its civil war.

TPIC was transferred to Petroleum Pipeline Corporation/BOTAŞ together with an increase in its capital from 150 Million USD to 500 Million USD.

2013

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“TPIC was founded by the Decree of the Council of Ministers in 1988 and with its 27 years of experience, has carried out numerous international projects.”

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• To create an optimum investment portfolio for exploration and oilfield services

• To become a more effective oilfield services company in our region

• To become an effective player in international “oil and oil products” trade business

• To develop projects in contractor services (pipelines, surface facilities and refinery activities) sector

• To improve the operational and organizational performance

OBJECTIVESOBJECTIVES

“Through its projects developed according to the ‘sustainable growth’ principle, TPIC continues to create value.”

Turkish Petroleum International Company (TPIC), founded as 100% state owned subsidiary offshore company of Turkish Petroleum Cor-poration in 1988, with the objective of operating in the whole value chain of the international oil industry. At home and abroad, TPIC successfully carries out activities such as explora-tion & production, drilling & worko-ver services, petroleum & petroleum

products trade and oil distribution, from Iraq to Libya, Colombia to Northern Cyprus and Kazakhstan. For the projects having vital stra-tegic importance to the benefit of our country, TPIC was transferred to Petroleum Pipeline Corporation/BOTAŞ by the Decree of the Coun-cil of Ministers dated 22.01.2013 and numbered 2012/4152, together with an increase in its capital from 150

Million USD to 500 Million USD. TPIC takes firm steps forward to be one of the global companies of Tur-key with its renewed vision. Within this scope, TPIC by itself or via its subsidiaries, carries out its explora-tion & production activities in the oil & gas sector, particularly in Iraq and other regions.

TURKEY’S GLOBAL VISION IN THE ENERGY SECTOR: TPIC

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As of March 2015, TPIC holds 20 exploration licenses of which 13 are onshore and 7 are offshore, in various exploration regions of Turkey.

TPAO operates as the Contractor Company for TPIC Licenses. TPIC has increased its oil production on AR/TPI/4468 License from 200 bopd in 2009 to 1000 bopd in 2015, and as of March 2015, production continues from Sambayat-1,15; Dogu Sambayat-1,6; Altintop -2,3; and Bozhuyuk -1,5,9 wells. Since 2009, TPIC has produced over 1 million barrels of oil in total.

AN INTEGRATED ENERGY COMPANY IN THE AREAS OF EXPLORATION&PRODUCTION, OILFIELD SERVICES AND PETROLEUM TRADE

REGION LICENSE SHARE

XII GAZIANTEP

XIII HATAY

XI DIYARBAKIR

II BOLU

XIV ADANA

X SIIRT

AR/TPI/K/M42-a1, a2, a3

AR/TPI/K/M42-b1

AR/TPI/K/M48-c3

AR/TPI/K/N48-b2, b3

AR/TPI/K/N49-A

100 %

100 %

100 %

100 %

100 %

100 %

100 %

100 %

100 %

100 %

100 %

AR/TPI/4468, 5121

AR/TPI/4581, 4582, 4882, 4883, 4884, 4903

AR/TPI/4876, 5041,5126

AR/TPI/5079

AR/TPI/5080, 5081

AR/TPI/5056

TPIC Licenses as of March 2015

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“As of 2015, TPIC’s cumulative oil production has surpassed 1 million barrels.”

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AN ACTIVE, REGIONAL AND GLOBAL PLAYER IN OVERSEAS EXPLORATION&PRODUCTION Having realized its first exploration projects in Australia, Pakistan, Indonesia and Egypt (West Qarun, West Gebel El Zeit, West Bahariye) between 1988-1995, TPIC also started to perform exploration activities in Gonzalez and Maria Conchita Blocks of Colombia in 2008.

BLOCK

GONZALEZ

MARIA CONCHITA

100 %

51 %

-

MKMS 40 %,MULTISERVICIOS 9 %

TPIC

TPIC

SHARE PARTNERS OPERATOR

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Since 15 July 2008, serving as the operator, TPIC has been conduct-ing joint exploration activities with the National Oil Company of Co-lombia (ECOPETROL) on the Gon-zalez Block in Catatumbo. By 2014, Ecopetrol transferred its shares to

TPIC. As part of the project, Rio Zulia West-3 (RZW-3) exploration well was completed with oil discov-ery in 2010; and Rio Zulia West-4 and Rio Zulia West-4 ST-1 wells were completed with oil shows in 2011. 3D seismic acquisition pro-

gram covering an area of 232 km² was completed in November 2012. Besides fracturing operation in RZW-3 Well, TPIC also plans to spud an exploration well.

Gonzalez Block

“TPIC by realizing its first exploration project in Egypt’s West Qarun, West Gebel El Zeit and West Bahariye Oil Fields in 1990, has been recorded as the first Turkish State-Owned Company investing in E&P projects abroad.”

Maria Conchita Block

Maria Conchita Block located in the Guejira Basin in North Colom-bia, is next to the largest gas pro-ducing field in Colombia and close to storage facilities and pipelines. In the block TPIC is the operator with

51% of the shares and its partners are MKMS with 40% and Multi-servicios RJT LTDA with 9% of the shares. 120 km2 3D seismic data ac-quisition and processing were com-pleted in the second half of 2010.

The first phase of “Consulta Previa” has been completed. After the en-vironmental licenses are obtained, an exploration well is planned to be drilled.

“TPIC is the one and only company in Turkey awarded with an internationally recognized ISO 9001: 2008 Quality Management System Certificate in the areas of petroleum and petroleum products trade and oilfield services.”

“The contract signed between TPIC and SOC on 14 March 2010, related to the drilling of 45 wells in the South Rumaila Field, is one of the largest contracts in Basra Region.”

A KEY ACTOR WHICH PROVIDES QUALIFIED SERVICE IN OILFIELD ACTIVITIES WITH ITS 27 YEARS OF EXPERIENCE

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TPIC, pertinaciously pro-ceeds to the future by im-proving its existing activi-ties and projects in the light of strong experiences, par-ticularly in drilling and well completion, gained at home and abroad. At home, TPIC provides oil/natural gas drill-ing and workover services in various regions of the coun-try. Within the scope of field services abroad; since 1996, TPIC realized Tepco, KTM, KazakhOil Aktobe, Caspineft Projects in Kazakhstan; Salyan Oil and Karasu Operating Co. Projects in Azerbaijan; Fron-tera Eastern Georgia Project in Georgia; Dove Energy and IPR Projects in Syria and Khur-mala Field -20 Wells Drilling Project in Iraq. In addition to these projects, in 2010, an IPM contract regarding the drill-ing of 45 wells in Iraq’s South Rumaila Field was signed with South Oil Company (SOC) of Iraq.

TPAO Batman, Adiyaman and Thrace Region Activities

Since 2006, TPIC has been pro-viding oil/natural gas drilling, well completion and workover services to TPAO in the vari-ous TPAO and TPIC licenced fields of Batman, Adiyaman and Thrace Region. Until to-day, TPIC has given drilling services at 371 wells and per-formed approximately 475.000 meters drill in total; well com-pletion and workover ser-vices over 1600 wells. In 2014, TPIC has achieved the highest amount of services; 130.713 m were drilled with 77 wells and 581 well completion and work-over services were performed successfully.

Iraq SOC Rumaila Field Project

Within the scope of a tender related to the drilling of 45 wells in the supergiant South Rumaila Field of Iraq, an IPM contract was signed with Iraq’s

South Oil Company (SOC) on March 14th 2010. The first five wells were drilled and com-pleted successfully by August 14th 2011 and 16.891 meters were drilled in total. As BP transferred its operating rights to the “Rumaila Operating Or-ganization (ROO)”, the consor-tium of BP-CNPC-SOC, the project was suspended. In the ongoing process, an amended version of the contract entered into force on November 15th 2012, where profitability and business volume of TPIC were reserved. Within this context, until today, negotiations with SOC and BP management have continued on technical and financial terms, and the barriers related to the activa-tion of the project have been removed. TPIC is planning and coordinating a process to restart the operation on this project which has potential to-tal volume of 305 million USD, in the second quarter of 2015.

Besides its remarkable success in the areas of oil and natural gas field services, TPIC has a leading position in terms of geothermal drilling field services. TPIC provides drill-ing, well completion, cementing, acidizing, well testing services to various companies such as BM Construction, Gurmat/

Guris, Zorlu Energy, Santral/Sanko Energy, Aytemiz, Mis/Soyak Energy, Akca Energy and Maspo Energy, in the geother-mal energy production field with its 27 years of experience. Within this context, to boost the efficiency of well services and be more robust in an in-creasing competitive environ-

ment, TPIC prepared “Man-agement of Change (MOC)”, “Corrective and Preventive Action (CAPA)”, “Permit To Work (PTW)” and “Comput-erized Maintenance Manage-ment System (CMMS)” pro-cedures, in 2014.

LEADING COMPANY IN GEOTHERMAL DRILLING FIELD

“From 2007 to the end of 2014, TPIC drilled 217.483 meters in total with 96 geothermal wells.”

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TURKEY’S GLOBALLY WELL-KNOWN BRAND IN PETROLEUM TRADE

“TPIC has shipped approximately 1 million tons of fuel-oil with more than 128 cargoes to KIB-TEK (Electricity Authority of Northern Cyprus). ”

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The Gasoil Trade in the Domestic Market

Between 2009-2013, TPIC sup-plied gasoil from the interna-tional market to the distribu-tion companies in the domestic market, on behalf of its subsidi-ary TPPD. Within this context, approximately 572.000 tons of gasoil were sold.

Libya NOC (National Oil Company) Crude Oil Trade

Within the scope of contract on “Crude Oil Purchase & Sale” signed between TPIC and NOC on January 2013; 10 cargo shipments were agreed of which 4 were assured and 6 will be optional depending on the export capacity and each cargo consists of 600.000 barrels. The first cargo was shipped in April 2013. Due to the domestic dis-order in the counrty and the instability of Libyan crude oil supply, disruptions occur on new shipments. Regarding the resolution of such problems, negotiations continue between the parties.

Electricity Authority of Northern Cyprus (KIB-TEK) Fuel-Oil Trade

Electricity Authority of North-ern Cyprus (KIB-TEK) pro-ducing part of its electricity from its power plant, supplies the fuel-oil needed from the foreign market. Regarding the contract made soon after in 26.10.2009, TPIC has shipped approximately 1 million tons of fuel-oil with more than 128 cargoes to KIB-TEK Teknecik Terminal from TUPRAS (Alia-ga and Korfez) Facilities as of today.

Bangladesh Gasoil Trade

Turkish Petroleum Interna-tional Company (TPIC) and Bangladesh Petroleum Cor-poration (BPC) signed “Gasoil Purchase & Sale Contract” on December 2014. Within this scope; TPIC will supply up to 120.000 tons of gasoil 0.05 % (500 ppm) to BPC which 2 cargo shipments were guar-anteed and 2 cargoes will be optional. BPC concluded the negotiations with governmen-tal companies on imports of oil products during first half of 2015 with 10 companies such as Malaysia’s PETRONAS,

Philippines’ PNOC, Emirates’ ENOC, Vietnam’s Petrolimex, etc., including Turkey’s TPIC. Through this initiative, TPIC aims at increasing its activities in Southeast Asia market.

Iraq Crude Oil and Petroleum Products Trade

TPIC launched petroleum prod-ucts trade with Iraq in 1999. Petroleum products supplied from TUPRAS and interna-tional market were delivered to Iraq Petroleum Marketing Company (SOMO) via land and railway shipments. Be-tween 1999-2002, 1.8 million tons of petroleum products brought to TPIC/Habur plant from Iraq were sold to the national fuel oil distribution companies. In addition, be-tween 2000-2003, 5.4 million tons of crude oil were sold to TUPRAS via marine shipment after it was brought by TPIC from Iraq through land ship-ment. Between 2003 and 2010, TPIC traded 1.9 million tons of petroleum products, fuel-oil and gasoil in total. As an im-portant player in the region, TPIC’s attempts for new pro-jects with increasing volumes in Iraqi trade market are on the agenda.

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FINANCIALINDICATORSFINANCIALINDICATORS TOTAL ASSETS (mil $)

SHARE CAPITAL (mil $)

BANK LOANS (mil $)

NET WORKING CAPITAL (mil $)

NET PROFIT (mil $)

GENERAL ADMINISTRATIVE EXPENSES (mil $)

NUMBER OF EMPLOYEES (TPIC)

PROFIT PER EMPLOYEE (thsd $)

330

150

73,4

114,8

1,1

6,3

92

12

994

1.000

0

905,4

24

6,6

99

243

2009 2014*

* Provisional data.

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ğraf

; Mar

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onch

ita, K

olom

biya

“TPIC conducts all of its activities according to social and environmental responsibilities.”

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Sosyal sorumluluk kapsamında hareket eden TPIC, çevresel ve toplumsal görevlerinin bilincindedir.

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OUR WEB-SITE ISRENEWED“TPIC web site is available in Turkish, English, Russian, Arabic and Spanish.”

OUR WEB-SITERENEWED

domestic officesANKARA HEAD OFFICESöğütözü Cad. No:27Çankaya 06520Ankara/TURKEYT. +90 312 285 44 55F. +90 312 285 38 09tpican@tpic.com.trwww.tpic.com.tr

ISTANBUL OFFICEİDTM A.Ş. Yeşilköy Mah.Atatürk Cad. A1 BlokKat.11 No:364 YeşilköyIstanbul/TURKEY T. +90 212 465 75 96F. +90 212 465 75 97

international offices

GEORGIA OFFICED. Agmashenebeli Ave.130, 0102Tbilisi - GEORGIAT. +995 32 295 86 32 / 294 11 01

AZERBAIJAN OFFICEC. Cabbarli 44 Caspian Plaza 3, 10th Floor Baku - AZERBAIJANT. +994 124 924 798

KAZAKHSTAN OFFICEAbilkayyr-Khan Avenue No:46 Aktobe - KAZAKHSTANT. +7 7132 564431F. +7 7132 542708

IRAQ OFFICEBaghdad Al-Wazereyah 301 Section 5th St. No: 6 Baghdad - IRAQT. +964 771 103 3313

COLOMBIA OFFICECarrera 7a No. 114 - 33 Office 1001Bogota - COLOMBIAT. +57 1 6377966F. +57 1 6377967

JERSEY OFFICE15 Esplanade, St. Helier,Jersey JE1 1RB CHANNEL ISLANDST. +44 15 34 740000F. +44 15 34 740074

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ENG