COMMON TERMS

The following industry-specific terms and abbreviations are frequently used by Energy Analytics Institute (EAI) and in general throughout the global petroleum sector:

Hydrocarbon Sector

B/d: Barrels per day

Bbls: Barrels

Bcf: Billion cubic feet

Bcfe: Billion cubic feet equivalent

Bcm: Billion cubic meters

Bln: Billion

Boe/d: Barrels per day equivalent

EHCO: Extra heavy crude oil

E&P: Exploration and Production

Faja: Venezuela’s Hugo Chavez Orinoco Heavy Oil Belt

Ft: Feet

JV: Joint venture

LNG: Liquefied natural gas

LPG: Liquefied petroleum gas

M3: Cubic meters

M2: Square meters

M: Meters

Mbbls: Thousands of barrels

Mcf: Thousand cubic feet

Mcfe: Thousand cubic feet equivalent

MMbbls: Millions of barrels

MMBtu: Millions of British thermal units

MMcm: Million cubic meters

MMcf: Million cubic feet

MMcfe: Million cubic feet equivalent

Mscf: Thousands of standard cubic feet

MMscf: Millions of standard cubic feet

MMscf/d: Millions of standard cubic feet per day

MTPA: Million tons per annum

MTPY: Million tons per year

NGLs: Natural gas liquids

PPM: Parts per million

Tcf: Trillion cubic feet

Tcfe: Trillion cubic feet equivalent

Tcm: Trillion cubic meters

WTI: West Texas Intermediate

Note: All monetary figures are in USA dollars unless stated otherwise.

Financial

Billion: Bln

CAPEX: Capital expenditures

DD&A: Depreciation, deletion and amortization

G&A: General and administrative

LOI: Letter of Intent

Mln: Millions

MOU: Memoranda of Understanding

YE: Year-end

WI: Working interest

State Oil Entities

ANCAP: Administración Nacional de Combustibles, Alcoholes y Portland (Uruguay)

Cupet: Cubapetróleo (Cuba)

Ecopetrol: Empresa Colombiana de Petróleos S.A. (Colombia)

ENAP: Empresa Nacional de Petróleo (Chile) Eni SpA: Ente Nazionale Idrocarburi (Italy)

PDVSA: Petróleos de Venezuela S.A. (Venezuela)

PEMEX: Petróleos Mexicanos (Mexico)

Petrobras: Petróleo Brasileiro S.A. (Brazil)

PetroEcuador: Ecuador

PetroPeru: Peru

Petrotrin: Petroleum Co. of Trinidad & Tobago Ltd.

YPFB: Yacimientos Petrolíferos Fiscales Bolivianos (Bolivia)

Other Organizations

API: American Petroleum Institute

EIA: Energy Information Administration

MEEI: Ministry of Energy and Energy Industries (Trinidad and Tobago)

MENPET: Ministry of Energy and Petroleum (Venezuela)

OPEC: Organization of Petroleum Exporting Countries

Regional Initiatives

ALBA: Bolivarian Alternative for America

CELAC: Community of Latin America and Caribbean states

Petrocaribe: Petrocaribe oil initiative

LatAm/Caribbean Countries

ARG: Argentina

ARW: Aruba

BHS: Bahamas

BRB: Barbados

BLZ: Belize

BOL: Bolivia

BRA: Brazil

CYM: Cayman Islands

CHL: Chile

COL: Colombia

CRI: Costa Rica

CUB: Cuba

DMA: Dominica

DOM: Dominican Republic

ECU: Ecuador

FLK: Falkland Islands (Malvinas)

GUF: French Guiana

GLP: Guadeloupe

GTM: Guatemala

GUY: Guyana

HTI: Haiti

HND: Honduras

JAM: Jamaica

MTQ: Martinique

MEX: Mexico

NIC: Nicaragua

PAN: Panama

PRY: Paraguay PER: Peru

PRI: Puerto Rico

KNA: Saint Kitts and Nevis

LCA: Saint Lucia

VCT: Saint Vincent and the Grenadines

SUR: Suriname

TTO: Trinidad and Tobago

URY: Uruguay

VEN: Venezuela

VGB: Virgin Islands (British) VIR: Virgin Islands (USA)

All Other Countries

AGO: Angola

CAN: Canada

CHN: China

EGY: Egypt

ESP: Spain

IND: India

IRQ: Iraq

IRN: Iran

JPN: Japan

LBY: Libya

NGA: Nigeria

RUS: Russian Federation

SYR: Syria

USA: United States of America