TECHNICAL ASPECT. Inclusion of the Gulf Tertiary Oil Project The following items are within the works performed under contract no. 424048860 and required to be included in the Tertiary Gulf Oil Project: • Major repairs • Minor repairs • Pneumatic pumping conversion • Mechanical pumping conversion • Rehabilitation of pneumatic pumping • Rehabilitation of mechanical pumping • Water injector conversion • Change of flowing rig • Well improvement identification • Infrastructure works (reconditioning of paths and platforms) The need to include the Tertiary Gulf Oil Project is based on the need to cover a substantial increase to PEP’s operation contracts; the latter is shown in the existing project portfolio. The following chart shows the operation contract for the Tertiary Gulf Oil Comprehensive Asset that covers 4,071 major repairs and 17,777 minor repairs from 2009 to 2023. ATG Comprehensive Asset 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TOTAL Major repairs 501 300 300 300 300 300 300 300 300 300 300 300 300 300 300 4,701 Minor repairs 274 1,396 1,294 1,127 1,193 1,224 1,226 1,168 1,130 1,216 1,099 1,270 1,235 1,245 1,080 17,177 TOTAL 775 1,696 1,594 1,427 1,493 1,524 1,526 1,468 1,430 1,516 1,399 1,570 1,535 1,545 1,380 21,878 Thereafter and based on the need to replace and increase production fees of the North Region for this year in the Tertiary Gulf Oil Comprehensive Asset, 775 well repairs were programmed, 501 major and 274 minor repairs among them, and to perform that work volume 34 repair equipment units were programmed; and since PEP does not have sufficient infrastructure to take care of that volume, operation fronts to work on the Tertiary Gulf Oil Comprehensive Asset are programmed to be formed as follows: SCHEME EQUIPMENT
