corporate profile

OUR BUSINESS

Crude Oil Natural Gas

Exploration, Developmentand Production

Refining

Processing

Liquefaction

Liquefied Natural Gas (LNG)

Petroleum Products

Petrochemical Plant

Liquefied Petroleum Gas (LPG)

Processed Gas/Peninsular GasUtilisation (PGU) System

Regasification Terminal

• Transportation Sector - Diesel, Gasoline, Jet Fuel and Lubricants

• Industrial Sector - Ethylene, Methanol, MTBE, Polyethylene, Propylene, Urea and VCM

• Residential and Commercial Sectors

• Power Sector• Industrial Sector

• Export Sector

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VISIONTO BE A LEADING OIL AND GAS MULTINATIONAL OF CHOICE

MissionWe are a business entity

Petroleum is our core business

Our primary responsibility is to developand add value to this national resource

Our objective is to contribute to the well-being of the people and the nation

Shared ValuesLoyaltyLoyal to nation and corporation

IntegrityHonest and upright

ProfessionalismCommitted, innovative and proactiveand always striving for excellence

CohesivenessUnited in purpose and fellowship

Our Business

Corporate Statements

About PETRONAS

Exploration & Production Maximising Resources for Growth

Gas & PowerExpanding Our Horizons

DownstreamBuilding Upon Our Achievements

Technology & EngineeringEnhancing Value for the Business

Our PeopleThe Company’s Greatest Asset

Health, Safety & EnvironmentA Responsible Corporate Citizen

Corporate Social InvestmentsGrowing with the Nation

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CONTENTSPETRONAS - reimagining energy™

We focus on collective efforts to do things differently by continuously challenging industry norms to achieve real, sustainable and long-term growth. Guided by this bold commitment, we constantly strive for new solutions and push boundaries to stay ahead.

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PETRONASAbout

P etroliam Nasional Berhad (PETRONAS) is Malaysia’s National Oil Company, and wholly-owned by the Government. Established in 1974, PETRONAS

is ranked amongst the largest companies in the world with a proven track record in integrated oil and gas operations. Our business activities include (i) the exploration, development and production of crude oil and natural gas locally and abroad; (ii) the liquefaction, sale and transportation of Liquefied Natural Gas (LNG); (iii) the processing and transmission of natural gas, and the sale of natural gas products; (iv) the refining and marketing of petroleum products; (v) the manufacture and sale of petrochemical products; (vi) the trading of crude oil, natural gas, LNG, petroleum products and petrochemical products; and (vii) shipping and logistics relating to LNG, crude oil and petroleum products. Committed to ensuring long-term business sustainability, PETRONAS also strives to responsibly manage natural resources in a way that contributes holistically to the well-being of the people and nations where we operate.

www.petronas.com

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T he establishment of PETRONAS is an important catalyst for the development of oil and gas resources in Malaysia, driving domestic growth in Exploration

and Production (E&P) activities. As Malaysia’s basins become more mature, we will face greater challenges to sustain production. Nevertheless, we have laid out clear strategies to arrest the decline. This involves extending the lifecycle of existing resources by optimising exploration, development and production activities. We are committed to three strategic focus areas as identified under the Government’s Economic Transformation Programme, which are to rejuvenate the production of existing fields through improved oil recovery and enhanced oil recovery (EOR), development of marginal fields through innovative solutions and intensive exploration activities.

Maximising Resources for GrowthEXPLORATION & PRODUCTION

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Highlights: 1. Using smart field development approach, Sepat Oil project achieved first oil more than a year ahead of schedule while Tangga Barat

Gas project achieved first production five months ahead of schedule.

2. Two EOR Production Sharing Contracts were signed between PETRONAS and Shell, worth RM36 billion in CAPEX and are expected to recover more than 750 million barrels of oil for projects using EOR technology to boost crude oil and natural gas production from existing fields offshore Sabah and Sarawak.

3. PETRONAS acquired 50 percent equity from Progress Energy Resources Corporation to explore shale gas opportunities in northeastern British Columbia, Canada.

4. The Balai and Berantai Risk Service Contracts - PETRONAS pioneered innovative fiscal measures to develop domestic marginal fields.

Our E&P business is divided into two key portfolios – the Petroleum Management Unit (PMU) and PETRONAS Carigali Sdn Bhd (PETRONAS Carigali), a subsidiary of PETRONAS. PMU manages Malaysia’s domestic oil and gas resources. This includes enhancing the prospectivity of domestic acreages by pioneering innovative solutions to attract investments and protect national interest. PETRONAS Carigali, the E&P operating arm of PETRONAS, is a hands-on operator with an established track record of successful oil and gas developments, in Malaysia and abroad.

We harness and implement new technologies, powered by a performance-driven workforce to capitalise on opportunities that further strengthen our capabilities in exploring new growth frontiers. With the establishment of PETRONAS’ E&P Technology Centre, we are poised to develop and implement EOR and carbon dioxide (CO2) management technologies. The seamless integration of Research & Development, field development planning, initiation of EOR projects and monetisation of high CO2 gas fields leverages on technical collaboration and sharing of capability, and resources between PETRONAS and the industry. Abroad, we are growing our E&P portfolio to ensure successful delivery of business objectives.

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W e aspire to be a leading integrated gas, Liquefied Natural Gas (LNG) and power player through two major portfolios; Global LNG business and

Infrastructure, Utilities & Power business. PETRONAS’ Global LNG business commands a sizeable market share in the Far East. This is made possible by owning and operating one of the world’s largest LNG production facilities in a single location. We are responsible for the marketing and trading of the LNG produced. The PETRONAS LNG complex, located in Bintulu, Sarawak, Malaysia currently has a combined capacity of 25.7 million tonnes per annum (mtpa). We aim to sustain our market position and preserve our reputation as a reliable supplier of LNG by embarking on projects such as LNG Train 9 and Floating LNG that will increase our production capacity by 3.6 mtpa and 1.2 mtpa, respectively. We will supplement this effort by diversifying our supply sources and increasing our market presence. Driven by our aim to become a market leader, PETRONAS has expanded into unconventional plays by venturing into the GLNG project in Gladstone, Australia to process coal bed methane to LNG. This was followed by our acquisition of shale gas assets in northeastern British Columbia, Canada, with the aim of monetising it through an LNG venture.

Expanding Our HorizonsGAS & POWER

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Highlights: 1. The GLNG Project in Australia is on track to produce an estimated 7.8 million tonnes per annum (mtpa), scheduled for first delivery

in 2015.

2. PGB’s Network Code introduces third party access to the PGU system. This provides transparent and uniform principles for the PGU system subscribers thus facilitating LNG importation by third parties.

3. PETRONAS International Corporation Ltd acquired a 30% stake in GMR Energy Singapore Pte Ltd’s 800 megawatt Combined Cycle Gas Turbine Power Plant on Jurong Island, Singapore.

PETRONAS constantly explores opportunities to expand our involvement along the gas value chain and one such effort is establishing our foothold in the European energy trading sector,which includes gas and electricity. Our Infrastructure, Utilities & Power business is focused on ensuring long-term security and sustainability of the gas market in Malaysia. Through our subsidiary, PETRONAS Gas Berhad, we own and operate the Peninsular Gas Utilisation (PGU) system, delivering gas to the power and non-power sectors in Peninsular Malaysia as well as the power industry in Singapore. We have been operating the system at reliability rates exceeding world class standards. PETRONAS is currently constructing Malaysia’s first LNG Regasification Terminal in Melaka. When commercial operation begins in 2012, the nation’s long-term gas requirements will be addressed through LNG imports at market prices. Development works of regasification terminals in Pengerang, Johor and Lahad Datu, Sabah are also in progress. PETRONAS is committed to expand our Infrastructure, Utilities & Power portfolio, leveraging on existing capabilities, to capture opportunities in key focus markets in Asia and the Middle East.

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P ETRONAS’ downstream business plays a strategic role in increasing the value of every molecule extracted through our exploration activities.

We are pursuing ambitious downstream expansion through our integrated operations in refining and trading, marketing of crude oil and petroleum products locally and internationally, including manufacturing and marketingof petrochemical products.

PETRONAS owns and operates three refineries in Malaysia: two in Melaka and one in Kerteh, Terengganu. Our refining portfolio is also complemented by our refining presence in Africa through 80% owned subsidiary, Engen Petroleum Limited (Engen), a leading South African refining and marketing company which owns and operates a refinery in Durban, South Africa.

Building Upon Our AchievementsDOWNSTREAM

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Highlights: 1. Achieved 98.4% overall reliability rate for domestic refineries.

2. PDB retained its position as a market leader for Commercial Business in Malaysia.

3. Group’s petroleum product sales volume recorded healthy growth, testimony of the aggressive growth and portfolio management of retail and marketing arm operations domestically and internationally.

4. Establishment of PETRONAS Lubricants Africa Ltd (PLAL) in growing the lubricant business in African countries.

5. Expansion to five LPG Terminals, with the construction of a new terminal in Cebu, Philippines, further strengthens PETRONAS’ downstream marketing portfolio.

6. PLI is set to invest Euro 50 million to build a state-of-the-art Research & Development Centre in Turin, Italy to enhance its product capability in providing fluid technology solutions.

In Malaysia, PETRONAS Dagangan Berhad (PDB) manages all domestic marketing and retailing activities for a wide range of petroleum products. We also operate service stations in various international markets including Indonesia, Thailand, South Africa and Sudan. PETRONAS Lubricants International (PLI) is the global lubricants manufacturing and marketing arm of PETRONAS, with a strong presence in more than 20 countries. PLI’s product range includes lubricants and functional fluids for both the automotive and industrial markets as well as a range of unique car care products.

Meanwhile, the integrated development of Malaysia’s petrochemicals industry is expected to promote the development of the country’s industrial base, especially the plastics and chemicals based component manufacturing industry. Our consolidated petrochemicals business is managed by the PETRONAS Chemicals Group Berhad (PCG), which is the largest integrated petrochemicals producer in Malaysia, and among the largest in South East Asia.

PETRONAS’ robust development of its downstream portfolio is expected to further enhance Malaysia’s economic, industrial and knowledge base. In the long term, this augurs well to support Malaysia’s growth agenda and our integrated plan to become a key downstream player in the region.

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R ecognising technology as a key driver for growth, PETRONAS through its Technology & Engineering (T&E) Division pursues

strategic development and deployment of technology to further enhance operational excellence and maximise the potential of our existing assets and emerging opportunities.

T&E Division aspires to attain leadership in delivering integrated innovative technology solutions and projects across PETRONAS by anchoring on the following areas:

• Delivering projects at competitive cost, on schedule and with assured operability

• Driving category management for cost and delivery advantage to projects and for operational requirements

• Providing value adding technical solutions and instituting technical governance for operational excellence

• Providing stewardship for Groupwide technical capability development and knowledge assets

• Developing and deploying technology for PETRONAS’ growth and future positioning

• Commercialising technology solutions for value and competitive advantage

Highlights: 1. Enhanced Oil Recovery (EOR), carbon dioxide (CO2) management, contaminants removal and green and sustainable technologies are

being pursued.

2. Accredited the Quality Management System ISO 9001:2008 for the Integrated Plant Operations Capability System and the management of PETRONAS Technical Standards.

3. Entered the renewable energy sector through involvement in solar projects.

Enhancing Value for the BusinessTECHNOLOGY & ENGINEERING

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O ur people are the key driving force in achieving PETRONAS’ business aspirations. Our workforce comprises a dynamic mix of people,

who bring with them diversity in thought, experience and knowledge to take our business to newer heights. Our human capital development efforts promote the culture of continuous learning. We provide a structured development framework to support and grow our staff’s potential through various technical and management programmes to bring about a favourable change in mindset, including enhancing capabilities and skills. This includes education-led transformation based on industry engagements andResearch & Development stewardship.

Highlights: 1. More than 43,000 employees Groupwide.

2. Empowered leaders and business savvy workforce, with excellent competencies to deliver value.

3. Constantly strengthening a high performance culture to broaden our talents’ knowledge and experiences in the oil and gas industry.

The Company’s Greatest AssetOUR PEOPLE

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Highlights: 1. Rolled out a HSE Mandatory Control Framework and established best practices for Mercury and Asbestos Management to elevate HSE Governance and Risk Management efforts.

2. Cascaded Process Safety Leadership programme to management and personnel Groupwide to institutionalise HSE best practices throughout our operations.

A Responsible Corporate CitizenENVIRONMENTHEALTH, SAFETY &

P ETRONAS is committed to Health, Safety & Environment (HSE) excellence in all our areas of operations. We adhere

to international standards and industry best practices. We strive to balance and integrate economic, environmental and social considerations in our business decisions, guided by our Corporate Sustainability Framework. This covers seven key result areas namely, shareholder value, natural resource use, HSE, product stewardship, societal needs, climate change and biodiversity.

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HEALTH, SAFETY &

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Growing with the NationINVESTMENTSCORPORATE SOCIAL

W e strive to enrich the lives we touch through various holistic efforts that aim for sustainable long-term growth.

Education and Capability Building Knowledge is energising and the capability unlocked by it liberates people; it removes mindset blocks that hamper progress; it enables full human potential to be realised; it inspires, fires up the imagination and shows people what is possible; and it gives people the ability to break free from mediocrity.

At PETRONAS, we encourage and facilitate life-long personal and professional development to ensure the availability of a sustainable pool of motivated and knowledge-empowered talents for PETRONAS, our partners, host nations and communities where we operate. Oureducation initiatives include educational and training institutions, education sponsorships as well as schools outreach and industrial training programmes.

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Highlights: 1. Partnership with Yayasan Sabah in the Imbak Canyon Conservation Area which includes the Imbak Canyon Studies Centre for environmental research, education and outreach programmes.

2. The PETRONAS Leadership Centre continues to offer integrated learning solutions and consultancy services to the PETRONAS Group and industry players in Malaysia and abroad.

3. Program Bakti Pendidikan PETRONAS held more than 1,000 academic and fun learning sessions in schools throughout Malaysia, benefitting over 3,000 primary school students.

Community We are mindful of our responsibility to return the value we create through our business to the community. Over the years, we have initiated and supported various social, environmental and community projects.We adopt a holistic approach for sustainable long-term growth for the benefit of people in the areas of our operations, locally and abroad.

Our signature efforts include community programmes (Program Sentuhan Harapan PETRONAS), schools outreach (Program Bakti Pendidikan PETRONAS), anti-drug awareness (Program Sahabat Pendidikan Pencegahan Dadah PETRONAS) and arts appreciation (Galeri PETRONAS, Dewan Filharmonik PETRONAS and the Malaysian Philharmonic Orchestra). Abroad, our community initiatives include the Yetagun Socio-Economic Development Programme in Myanmar as well as School Refurbishment programmes and Mobile Basic Healthcare services in Iraq.

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For further information, please contact:

PETRONAS Group Corporate Affairs DivisionLevel 70, Tower 1, PETRONAS Twin TowersKuala Lumpur City Centre, 50088 Kuala Lumpur, MalaysiaTel : +603 2051 5000Fax : +603 2026 5050www.petronas.com

PETRONAS’ Listed Subsidiaries:

• PETRONAS Chemicals Group Berhad - www.petronaschemicals.com

• PETRONAS Dagangan Berhad - www.mymesra.com.my

• PETRONAS Gas Berhad - www.petronasgas.com

• MISC Berhad for Logistics and Maritime - www.misc.com.my

• KLCC Property Holdings Bhd - www.klcc.com.my

Please visit our Corporate Website for more information on our other businesses and related subsidiaries.

©2012 PETROLIAM NASIONAL BERHAD (PETRONAS)All rights reserved. PETRONAS makes no representation or warranty, whether expressed or implied, as to the accuracy or completeness of the facts presented. PETRONAS disclaims responsibility from any liability arising out of reliance on the contents of this publication.

www.petronas.com