hydrocarbon reserves as of january 1st, 2009 de...pemex investor relations hydrocarbon reserves as...

Corporate Finance Office Investor Relations

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Hydrocarbon reserves as of January 1st, 2009 1/24 www.pemex.com

March 20, 2009

Hydrocarbon reserves as of January 1st, 2009

Estimation

Proved reserves as of January 1st, 2009

As of January 1st, 2009, proved hydrocarbon reserves (1P) totaled 14.308 billion barrels of crude oil equivalent (MMMboe), of which 73% consisted of crude oil, 10% of condensates and plant liquids and the remaining 17% of dry gas equivalent to liquid. Proved developed reserves are 10.196 MMMboe or 71% of total proved reserves. Developed reserves are those expected to be recovered from existing wells, including reserves that can be recovered using current facilities through additional works that require low investment. Of the total proved developed reserves, 74% is located in the Cantarell, Ku-Maloob-Zaap and Antonio J. Bermúdez complexes and in the Jujo-Tecominoacán, Ixtal, Bolontikú, Caan, May and Chuc fields. In addition, 64% or 6.551 MMMboe is in fields located in the offshore regions and 36% or 3.645 MMMboe is in fields located in the Northern and Southern regions of Mexico. Proved undeveloped reserves, which require additional infrastructure and wells in order to be produced, totaled 4.111 MMMboe, or 29% of total proved reserves. Of the total proved undeveloped reserves, 56% is located in the Ku-Maloob-Zaap and Antonio J. Bermúdez complexes and in the Jujo-Tecominoacán, Sihil, Tsimin, May, Ayatsil and Yaxché fields. In addition, 50% of the proved undeveloped reserves are located in the offshore regions, while the remaining 50% are located onshore.

Figure 1

29%

71%

10.2

4.114.3

Proved(1P)

Developed Un-developed

Proved Reserves

Reserves as of January 1st, 2009Billion barrels of crude oil equivalent (MMMboe)

Crude oil:

Dry natural gas:

Condensates and plant liquids:

73%

17%

10%

75%

15%

10%

67%

21%

12%

100% = 14.3

Developed

Undeveloped

Note: Numbers may not total due to rounding.

PEMEX Investor Relations


Probable and possible reserves as of January 1st, 2009

Probable reserves totaled 14.517 MMMboe. 2P reserves, which reflect the addition of proved plus probable reserves, totaled 28.825 MMMboe. Of total probable reserves, 56% is located in Chicontepec, while 31% of probable reserves are located in the offshore regions, primarily in the Ku-Maloob-Zaap, May, Pit, Ayatsil and Sinán fields. Possible reserves totaled 14.738 MMMboe. Total estimated 3P reserves, which reflect the addition of possible, proved and probable reserves, are 43.563 MMMboe. Of this total, 58% is located in the fields of the Paleocanal of Chicontepec, while the remaining 33% is located in the offshore regions. Of the total 3P reserves, 71% consists of crude oil, 9% of condensates and plant liquids, and 20% of dry gas equivalent to liquid.

Figure 2

3P Reserves

Reserves as of January 1st, 2009Billion barrels of crude oil equivalent

Crude oil: 73% 71% 72% 69% 71%

Dry natural gas: 17% 20% 19% 22% 20%

Condensates and plant liquids: 10% 9% 9% 9% 9%


28.8

14.7

43.614.5

14.3

Proved(1P)

Probable 2P Possible 3P

1 PEMEX defines heavy crude as that with a density less than or equal to an API gravity of 27°, light crude as that with an API gravity greater than 27° but less than or equal to 38° and extra-light crude as that with an API gravity greater than 38°.

Crude oil reserves

Estimated crude oil proved reserves as of January 1st, 2009 totaled 10.404 billion barrels, of which 61% consists of heavy crude oil, 31% of light crude oil and the remaining 8% of extra-light crude oil.1 As of January 1st, 2009, 3P crude oil reserves were 30.930 billion barrels, of which 55% consists of heavy crude oil, 35% light crude oil and the remaining 10% of extra-light crude oil.



Figure 3

10%

35% 55%

8%

31%61% 57%33%

10%

Crude Oil Reserves Composition

Crude oil reserves as of January 1st, 2009Billion barrels (MMMb)

Proved reserves100% = 10.4

Heavy:

Light:

Extra-light:

2P reserves100% = 20.8



6.4

3.2

0.8

11.8

6.9

2.1

16.8

10.9

3.1

Natural gas reserves

Proved natural gas reserves totaled 17.649 trillion cubic feet (Tcf) as of January 1st, 2009, of which 65% consists of associated gas and the remaining 35% of non-associated gas. 3P reserves of natural gas totaled 60.374 trillion cubic feet, of which 74% consists of associated gas and the remaining 26% of non-associated gas. Burgos and Veracruz concentrate 38% of 3P non associated gas reserves.

Figure 4

28%

72%

35%65%

26%

74%

Natural Gas Reserves Composition

Natural gas reserves as of January 1st, 2009 Trillion cubic feet (Tcf)

Proved reserves100% = 17.6

Associated:

Non- associated:



11.5

6.2

27.2

10.5

44.7

15.7




Onshore and offshore reserves

Offshore fields contain 69% of crude oil reserves, while onshore fields concentrate 31%. Of the total proved natural gas reserves, 59% is located onshore while the remaining 41% is located offshore. Of the total 3P crude oil reserves, 51% is located onshore, while 49% is located offshore. Of the total 3P natural gas reserves, 75% is located onshore, while 25% is located offshore.

Figure 5

69% 53% 49%

31% 47% 51%

1P 2P 3P

41% 29% 25%

59% 71% 75%

1P 2P 3P

BurgosTampico – MisantlaVeracruzSoutheasternDeepwaterYucatán platform

BasinsSabinas

Crude oil reserves (MMMb)Reserves as of January 1st, 2009:

100% =

Type of reserve:

Natural gas reserves (Tcf)

Offshore

Onshore

Geographical Distribution of Reserves


10.4 20.8 30.9 17.6 37.8 60.4

Reserve-production ratio

The reserve-production ratio, which is calculated by dividing the estimated remaining reserves as of January 1st, 2009 by the total production of hydrocarbons in 2008, equals 30.0 years for 3P reserves, 19.9 years for 2P reserves and 9.9 years for 1P reserves. Each of these reserve-production ratios has increased when compared to the previous year. The 3P ratio has increased by 8%, 2P by 7% and 1P by 8%.



Figure 6

1P

2P

3P

Year*Production

(MMboe)Reserves-production

ratio (Years)

Reserves-production ratio

ReservesProduction

=

Reserves-Production Ratio

*As of January 1st, of each year

Note: Numbers may not total due to rounding

30.0

19.9

9.9

1,4512009

28.0

19.0

9.6

1,6182007

27.7

18.6

9.2

1,6032008

Evolution of reserves

Variations in 3P reserves are generally explained mainly by the exploratory activities. The average annual rate of decline in these 3P reserves in the period 2005-2008 is 2.1%, due to the addition of 3P new reserves through exploration activities. The average annual rate of decline in 1P, or proved reserves has decreased from 6% during the period 2006-2007, to 5% during the 2007-2008 period and 4% for the 2008-2009 period.



Figure 7

24.9 25.1 23.5 21.9 20.1 18.9 17.6 16.5 15.5 14.7 14.3

21.4 21.2 21.3 20.817.0 16.0 15.8 15.8 15.3 15.1 14.5

10.313.0 13.1 13.4 14.2 14.6 14.6 14.7

11.5 11.312.0

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Reserves as of January 1st, of each yearBillion barrels of crude oil equivalent

Possible

Probable

Proved

1P Reserves:

2P Reserves:

3P Reserves:

Reserves Evolution


56.2 53.0 50.0 48.0

58.2

46.9 46.4 43.6

60.2 57.7

45.4 44.5

25.1

46.3

58.2

23.5

44.8

56.2

21.9

42.7

53.0

20.1

37.0

50.0

18.9

34.9

48.0

17.6

33.5

46.9

16.5

32.3

46.4

15.5

30.8

45.4

14.7

29.9

44.5

14.3

28.8

43.6

Evolution of crude oil reserves

From 2008 to 2009, 3P crude oil reserves decreased by 282 million barrels, due primarily to the production of 1,022 million barrels. Proved reserves decreased by only 97 million barrels, as the production was partially restituted. Probable reserves decreased by 444 million barrels, due to the reclassification of reserves as proved, as a result of development of fields located at the Ku-Maloob-Zaap complex. Possible reserves increased by 259 million barrels, due primarily to discoveries made during 2008.

Evolution of gas reserves

From 2008 to 2009, 3P natural gas reserves decreased by 984 billion cubic feet, due primarily to the effect of production, which totaled 2,302 billion cubic feet of natural gas in 2008. However, the production effect was partially offset by additions of new reserves resulting from exploration, which totaled 1,913 million cubic feet of natural gas during the year. Also due to the effect of production, proved natural gas reserves decreased by 427 billion cubic feet, or 2%, as compared to the previous year.



Figure 8

Possible

Probable

Proved

Reserves as of January 1st, of each year

Natural gas reserves(Tcf)

Reserves 1P:

Reserves 2P:

Reserves 3P:

Crude oil reserves(MMMb)

Crude Oil and Natural Gas Reserves Evolution


11.0 10.5 10.4

10.4

9.8 10.1

10.811.0

9.9

2006 2007 2008

19.0 18.1 17.6

20.5 20.6 20.1

23.6 22.7 22.6

2006 2007 2008

10.5

21.3

31.2

18.1

38.6

61.4

17.6

37.8

60.4

60.4

31.9

11.0

22.1

31.9

19.0

39.4

63.0

63.031.2

61.430.9

10.4

20.8

30.9

Variation in reserves 2008-2009

Proved reserves decreased by 409 MMboe during 2008 as compared to the previous year, while 2P reserves decreased by 1,037 MMboe and 3P reserves decreased by 920 MMboe. These decreases were primarily the result of production, which totaled 1,451 MMboe but was partially offset by discoveries, revisions and developments.

Figure 9

Million barrels of crude oil equivalent (MMboe)

Discoveries Developments, revisions and delineations

Production

Reserves Evolution 2008* - 2009*

* As of January 1st, of each year


1P Reserves

2PReserves

3P Reserves

14,717 364678 -1,451

14,308

29,862912 -498 -1,451 28,825

2008* 2009*

44,4831,482 -951

-1,45143,563



Main discoveries

Discoveries 2004-2008

Discoveries refer to the incorporation of reserves due to successful exploratory wells drilled in new reservoirs. From 2004 to 2008, 3P reserves of 5,368 MMboe were discovered. These reserves included 3,419 million barrels of crude oil and 9.443 trillion cubic feet of natural gas. During 2008, sustained exploratory activities yielded 1,482 MMboe of additional 3P reserves. Of that total, 364 MMboe are proved reserves, 549 MMboe are probable reserves and 570 MMboe are possible reserves. During the period 2004-2008, exploratory activities yielded a yearly average of over 900 MMboe in additional 3P reserves per year. The 1,482 MMboe incorporated during 2008 represent the greatest volume increase due to exploratory activities since PEMEX’s adoption of international standards for estimation of its reserves. The increment represents 40.7% with respect to last year.

Figure 10

MMboe Possible

Probable

Proved

1P Reserves:

2P Reserves:

3P Reserves:

Discoveries Evolution


136.8 182.9 182.8363.8139.7

229.1492.6

548.6673.6554.1

377.8

569.7

240.8

222.1

453.3

2004 2005 2006 2007 2008

1,482.1

916.2 950.2

182.9

412.1

966.1

240.8

462.9

916.2

136.8

276.6

950.2

966.11,053.2

182.8

675.4

1,053.2

363.8

912.4

1,482.1



Discoveries in 2008

Reserves due to new discoveries during the year are presented by basin, as follows: • Southeast, with 335 MMboe of 1P reserves and 1,373 MMboe of 3P reserves; • Veracruz, with 21 MMboe of 1P reserves and 60 MMboe of 3P reserves, and • Burgos, with 7 MMboe of 1P reserves and 49 MMboe of 3P reserves.

These results reflect the dynamics of the exploration strategy, which is to find reserves in the most productive areas. The Southeast basins still is the most important contributor of new reserves. In addition, the discoveries in the non-associated gas basins will allow maintaining the gas production. As of January 1st, of 2009, crude oil discoveries represented 72% of 3P reserves (1,065 MMboe), while non-associated gas reservoirs accounted for the remaining 28% (417 MMboe, or 1,557 billion cubic feet).


Hydrocarbon reserves as of January 1st, 2009 10/24

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Figure 11

2%6%

92% 93%

4%3%

6%1%

93%

Discoveries

Discoveries as of January 1st, 2009Million barrels of crude oil equivalent

Proved reserves100% = 364

2P reserves100% = 912

3P reserves100% = 1,482

Southeastern:

Veracruz:

Burgos:


335 848 1,373

21 54 60

7 11 49

Basin

Main offshore discoveries

In 2008, offshore discoveries yielded additional proved reserves of 325 MMboe, consisting of 237 million barrels of crude oil and 429 billion cubic feet of natural gas. Offshore 3P reserves discovered in the Gulf of Mexico totaled 1,263 MMboe, consisting of 1,020 million barrels of crude oil and 1,188 billion cubic feet of natural gas. The main offshore discoveries resulted from drilling and completion of the following wells: Tsimin-1, Ayatsil-DL1, Pit-DL1, Tecoalli-1, Xanab-DL1, Kanbesah-1 and Yaxché-DL1.

Main onshore discoveries

Onshore exploratory activities yielded additional proved reserves of 7 million barrels of crude oil and 163 billion cubic feet of natural gas, which add to 39 MMboe. Onshore discoveries of 3P reserves totaled 75 million barrels of crude oil and 725 billion cubic feet of natural gas or 219 MMboe. The onshore reserves discovered were located mainly in the Southeast basin, due to drilling and completion of the Teotleco-1 and Rabasa-101 wells. In the Burgos and Veracruz basins, the most significant discoveries corresponded to the Cali-1, Kabuki-1 and Cauchy-1 wells.

Revisions Revisions result from variations in the pressure-production performance of reservoirs,

updates in static and dynamic reservoir models, and changes in hydrocarbon prices and production costs. Revisions led to the decrease of 3P reserves by 1,158 MMboe, as of January 1st, 2009. The reductions related mainly to reservoirs in Chicontepec, Iride, Magallanes-Tucan-Pajonal and Muspac. Proved reserves also decreased due to revisions, by 391 MMboe.



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Developments Developments refer to increases or reductions in reserves due to the drilling of

development wells. As of January 1st, 2009, developments had a positive effect on 3P reserves, which increased by 312 MMboe. 2P and 1P reserves increased by 417 MMboe and 975 MMboe, respectively. The fields that showed an increase in reserves due to developments were Bolontikú, Sunuapa, Ek-Balam, Sen, Costero and Caparroso-Pijije-Escuintle. The strategic objectives for development and production of reserves include: • strengthening the execution capabilities of development projects, to increase

recovery success and develop new reserves; and • Implementing operating and commercial strategies for extra-heavy crude oil.

Production In 2008, production totaled 1,451 MMboe, with average daily production of 2,792

thousand barrels of crude oil and 6,289 million cubic feet of natural gas. Proved reserves balance at the end of 2008

The balance of proved reserves at 2008 year-end demonstrates stable performance, the decline rate of proved reserves of 7 % in the period 2004-2006 reduced to 4 % in the period 2007-2009.

Integrated reserves replacement rate

The integrated proved reserves replacement rate is the quotient of the reserves due to discoveries, developments, delineations and revisions divided by the period’s total production. The integrated 1P reserves replacement rate was 71.8% in 2008 the highest obtained since the adoption of the SEC guidelines but still lower that the goal of 100 percent.

Reserves replacement objectives

Regarding PEMEX’s 1P integrated reserves replacement rate is forecasted to reach 100% by 2012. In this connection, we expect probable reserves to be reclassified over coming years into proved reserves primarily as a result of development of the Ku-Maloob-Zaap, Crudo Ligero Marino and Chicontepec projects, as well as delineation activities. These objectives were developed on the basis of expected values as of January 1st, 2009, and are subject to uncertainty and risks associated with hydrocarbon exploration and production activities as well as authorized exploration and exploitation investment levels.



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Figure 12

Evolution of the replacement rate of proved reserves

As of January 1st, of each yearReplacement rate of 1P*Per cent

25.5 22.7 26.4

41.050.3

71.8

2004 2005 2006 2007 2008 2009

* Includes: discoveries, delineations, developments and revisions.Source: Pemex-Exploration and Production

CAPEX in exploration

From 2000 to 2008, annual exploration investment averaged approximately Ps. 22 billion.



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Other relevant topics

Deep water wells During the period 2004-2008, PEMEX acquired 12,389 km of 2D seismic information and 30,186 km

2 of 3D seismic information. This information will contribute to a higher degree of certainty regarding existing prospective resources in deep waters of the Gulf of Mexico. During this same period, eight exploratory wells were drilled in deep waters, of which four wells were proved successful. During 2008, PEMEX completed the drilling of the Tamil-1 well, and confirmed the existence of over 200 MMboe in resources. These resources could potentially be classified as reserves if an additional well were to confirm the extent of the hydrocarbon formation. Currently, the Catamac-1 well is being drilled.

Drilling In 2008, 664 development wells and 65 exploratory wells were drilled and completed. Lifting costs In accordance with international standards, lifting costs are defined as the ratio of total

costs associated with the operation and maintenance of wells, gears and facilities over total production—in crude oil equivalent terms. In 2008, PEMEX´s lifting costs were US $6.16 per barrel of crude oil equivalent, representing a 26% increase in relation to last year costs.

Annex

External consultants

Beginning in 1996, PEMEX has retained internationally recognized external consultants specializing in reserves to review and certify its estimates of Mexico’s hydrocarbon reserves. These consultants have certified reserves estimations made by PEMEX, which entails the independent evaluation of the original volume in place and the associated hydrocarbon reserve. In May 2004, the Board of Directors of Pemex-Exploration and Production approved an agreement to certify the hydrocarbon reserves on an annual basis. PEMEX’s estimates of Mexico’s reserves as of January 1st, 2009, 2010 and 2011 will be certified by Netherland, Sewell International, Ryder Scott and DeGolyer and MacNaughton.



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Basic definitions

Definition criteria The terms “original volumes”, “prospective” and “contingent resources” and “reserves” have been used with the meanings established by several organizations related to the industry, such as the Society of Petroleum Engineers (SPE) and the American Association of Petroleum Geologists (AAPG), and national committees such as the World Petroleum Council (WPC). Additionally, as previously mentioned, PEMEX estimates proved reserves in compliance with the definition of proved reserves established by the SEC. The evaluation of reserves is a process of estimation of volumes in hydrocarbon reservoirs that cannot be measured in an exact manner. The accuracy of any reserves’ estimation depends on the quality of the information available. Furthermore, subsequent results of drilling, testing and production could generate revisions to the initial estimation. The use of these definitions allows PEMEX to distinguish among different types of reserves and provide reports of reserves consistent with international practices.

Figure 14

Original volume of discovered hydrocarbons

Unc

erta

inty

Non

reco

vera

ble

EconomicNon economic

Original volume of undiscovered hydrocarbons

Original volume of total hydrocarbons in place

R

serv

s

Lowestimate

Centralestimate

Highestimate

Non

reco

vera

ble

Lowestimate

Centralestimate

Highestimate

Basic Definitions

e

e

Prospective

Resources

Contingent

Resources

Production

Proved

Probable

1P

2P

3P

Possible

SEC definition of proved reserves

Proved reserves are estimated volumes of hydrocarbons which geological and engineering analysis demonstrates with reasonable certainty will be commercially recoverable in future years from known reservoirs under the prevailing economic conditions and existing operations; for example, prices and costs at the date of estimate. Prices include existing changes or contractual arrangements but are not based on future conditions.



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Definition of probable and possible reserves

In addition to proved reserves, PEMEX considers probable and possible reserves when calculating its total reserves, also called 3P reserves. Probable reserves are those reserves which analysis of geological and engineering data suggests are more likely than not to be recoverable. If probabilistic methods are employed for evaluation, there is a probability of at least 50% that the amounts to be recovered will be equal to or greater than the sum of proved plus probable reserves, also called 2P reserves. Possible reserves are those hydrocarbon reserves which analysis of geological and engineering data suggests are less likely to be recoverable than probable reserves. According to this definition, when probabilistic methods are employed, there is a probability of at least 10% that the amounts actually recovered will be equal to or greater than the sum of proved, probable and possible reserves, also called 3P reserves.



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Figure A1

Historic evolution of Mexican mix crude oil and sour wet gas Crude oil Dollars per barrel

0

2 0

4 0

6 0

8 0

10 0

12 0

14 0

En e -0 6

F e b -0 6

M a r -0 6

A b r -0 6

M a y -0 6

J u n -0 6

J u l -0 6

A g o -0 6

S e p -0 6

O c t -0 6

N o v -0 6

D i c -0 6

En e -0 7

F e b -0 7

M a r -0 7

A b r -0 7

M a y -0 7

J u n -0 7

J u l -0 7

A g o -0 7

S e p -0 7

O c t -0 7

N o v -0 7

D i c -0 7

En e -0 8

F e b -0 8

M a r -0 8

A b r -0 8

M a y -0 8

J u n -0 8

J u l -0 8

A g o -0 8

S e p -0 8

O c t -0 8

N o v -0 8

D i c -0 8

Sour wet gas Dollars per thousand cubic feet

0

2

4

6

8

10

12

En e -0 6

F e b -0 6

M a r -0 6

A b r -0 6

M a y -0 6

J u n -0 6

J u l -0 6

A g o -0 6

S e p -0 6

O c t -0 6

N o v -0 6

D i c -0 6

En e -0 7

F e b -0 7

M a r -0 7

A b r -0 7

M a y -0 7

J u n -0 7

J u l -0 7

A g o -0 7

S e p -0 7

O c t -0 7

N o v -0 7

D i c -0 7

En e -0 8

F e b -0 8

M a r -0 8

A b r -0 8

M a y -0 8

J u n -0 8

J u l -0 8

A g o -0 8

S e p -0 8

O c t -0 8

N o v -0 8

D i c -0 8



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Table A1

Basin Well Crude oil Gas Crude oil Gas Crude oil Gas BoeField (MMb) (MMMpc) (MMb) (MMMpc) (MMb) (MMMpc) (MMb)

Total 244.8 592.0 681.5 1,134.8 1,095.6 1,912.8 1,482.1

Burgos 0.0 40.7 0.0 57.8 0.0 267.1 48.9Cali Cali-1 0.0 22.0 0.0 22.0 0.0 160.7 29.3Dragón Peroné-1 0.0 0.6 0.0 0.8 0.0 0.8 0.2Grande Grande-1 0.0 2.9 0.0 4.2 0.0 16.0 2.8Murex Murex-1 0.0 12.9 0.0 18.4 0.0 40.0 7.0Ricos Ricos-1001 0.0 2.3 0.0 12.4 0.0 49.6 9.5

Sureste 244.8 440.8 681.5 798.2 1,095.6 1,331.9 1,372.9Ayatsil Ayatsil-DL1 88.6 9.2 184.2 19.2 398.7 41.5 406.7Kambesah Kambesah-1 16.1 18.2 24.8 28.3 24.8 28.3 30.9Pit Pit-DL1 64.9 8.9 278.2 38.3 366.1 50.3 375.9Rabasa Rabasa-101 3.7 2.2 15.9 9.8 28.3 17.3 32.6Tecoalli Tecoalli-1 6.1 4.3 15.4 10.8 46.2 32.4 54.0Teotleco Teotleco-1 3.7 9.9 34.4 92.5 47.2 126.3 77.6Tsimin Tsimin-1 41.8 373.7 61.3 547.1 109.4 976.4 307.6Xanab Xanab-DL1 9.7 9.1 42.1 39.4 49.8 46.6 59.5Yaxché Yaxché-1DL 10.2 5.2 25.1 12.9 25.1 12.9 28.2

Veracruz 0.0 110.6 0.0 278.9 0.0 313.8 60.3Aral Aral-1 0.0 2.0 0.0 4.1 0.0 8.0 1.5Aris Aris-1 0.0 14.6 0.0 14.6 0.0 14.6 2.8Cauchy Cauchy-1 0.0 86.1 0.0 206.8 0.0 223.2 42.9Kabuki Kabuki-1 0.0 6.9 0.0 44.3 0.0 56.3 10.8Maderaceo Maderaceo-1 0.0 0.9 0.0 9.1 0.0 11.7 2.2

Petróleos Mexicanos, Subsidiary Entities and Subsidiary CompaniesHydrocarbon reserves composition of the fields discovered in 2008

1P 2P 3P



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Table A2

Crude oil GasCrude oil

equivalent Crude oil Condensate Plant liquids*Dry gas

equivalent** Natural Gas Dry gas(MMb) (MMMcf) (MMb) (MMb) (MMb) (MMb) (MMb) (MMMcf) (MMMcf)

Total (3P) 298,308 257,785 43,563 30,930 562 3,491 8,580 60,374 44,623Proved 150,566 180,937 14,308 10,404 378 1,083 2,442 17,649 12,702Probable 84,416 43,190 14,517 10,376 82 1,175 2,885 20,110 15,0042P 234,982 224,127 28,825 20,780 460 2,257 5,327 37,760 27,706Possible 63,326 33,658 14,738 10,150 102 1,234 3,253 22,614 16,916* Gas liquids from processing plants.** The liquid obtained assumes a heat value equivalent to the Maya crude oil and an average mixture of the dry gas obtained at cactus, Ciudad PEMEX and Nuevo PEMEX.Note: All units are expressed at atmospheric conditions and assume 15.6 °C and 14.7 lb of pressure per aquare inch.

Original volume Remaining hydrocarbon reserves Remaining gas reserves

Petróleos Mexicanos, Subsidiary Entities and Subsidiary CompaniesHydrocarbon reserves as of January 1st, 2009

Table A3

Crude oil Natural gas Crude oil Natural gas Crude oil Natural gas Crude oil Natural gas(MMb) (MMMcf) (MMb) (MMMcf) (MMb) (MMMcf) (MMb) (MMMcf)1,188.3 1,955.0 1,124.8 2,211.3 1,021.7 2,532.2 36,897.3 61,657.0

Northeastern Marine 804.7 335.9 738.7 422.4 638.9 695.9 15,919.0 7,283.2Cantarell 657.3 262.0 546.2 344.9 380.5 596.0 13,259.6 5,946.7Ku-Maloob-Zaap 147.4 73.9 192.4 77.5 258.4 99.8 2,659.3 1,336.5

Southwestern Marine 173.4 312.5 184.6 362.3 183.1 374.4 5,653.0 6,699.8Abkatún-Pol-Chuc 121.2 187.1 114.0 198.6 112.8 208.3 5,217.8 5,721.2Holok-Temoa 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Litoral de Tabasco 52.2 125.4 70.7 163.6 70.3 166.1 435.2 978.6

Northern 30.8 813.1 31.7 932.9 31.9 931.1 5,668.7 20,464.8Aceite Terciario del Golfo 8.3 9.8 8.0 9.3 10.7 18.9 160.1 269.8Burgos 0.0 485.5 0.0 515.3 0.0 506.1 33.3 10,453.8Poza Rica-Altamira 22.0 53.7 23.1 71.9 20.5 55.9 5,399.4 7,392.3Veracruz 0.5 264.0 0.7 336.4 0.8 350.1 75.8 2,348.9

Sourthern 179.3 493.5 169.8 493.8 167.9 530.9 9,656.6 27,209.2Bellota-Jujo 80.0 99.1 69.4 87.5 64.0 91.7 2,920.8 4,439.6Cinco Presidentes 14.4 20.7 16.3 22.4 17.3 24.7 1,737.4 2,117.9Macuspana 2.4 70.4 3.8 81.4 5.8 95.3 28.8 5,651.2Muspac 12.2 134.5 12.3 113.5 13.2 109.6 1,686.1 9,267.7Samaria-Luna 70.3 168.9 68.1 188.9 67.6 209.5 3,283.5 5,732.8

Note: All units are expressed at atmospheric conditions and assume 15.6 °C and 14.7 lb of pressure per aquare inch.

Cumulative as of December 31, 2008

Petróleos Mexicanos, Subsidiary Entities and Subsidiary CompaniesHydrocarbon production by region

2006 2007 2008



www.pemex.com

Table A4




Total (3P) 298,308.2 257,785.3 43,562.6 30,929.8 561.7 3,491.3 8,579.7 60,374.3 44,622.7Northeastern Marine 66,087.6 26,033.0 12,785.9 11,656.6 368.9 256.6 503.7 4,892.9 2,619.7Southwestern Marine 25,273.4 33,394.2 5,189.4 3,217.4 84.5 509.7 1,377.8 9,571.8 7,165.8Northern 166,240.5 123,900.7 19,724.8 12,402.9 19.1 1,918.2 5,384.6 36,503.1 28,005.0Sourthern 40,706.7 74,457.5 5,862.5 3,652.9 89.2 806.8 1,313.6 9,406.5 6,832.1

Proved 150,565.8 180,936.6 14,307.7 10,404.2 378.4 1,082.9 2,442.3 17,649.5 12,702.0Northeastern Marine 54,356.6 23,981.4 6,712.3 5,919.3 256.1 183.0 353.9 3,365.8 1,840.4Southwestern Marine 17,691.1 21,615.9 1,893.9 1,176.0 38.0 221.2 458.8 3,462.9 2,386.0Northern 41,592.2 66,663.6 1,652.4 828.7 8.0 105.5 710.1 4,218.7 3,693.3Sourthern 36,926.0 68,675.6 4,049.1 2,480.2 76.3 573.1 919.5 6,602.1 4,782.2

Probable 84,416.3 43,190.4 14,516.9 10,375.8 81.6 1,174.6 2,884.9 20,110.5 15,004.4Northeastern Marine 5,616.1 897.3 2,977.1 2,844.5 42.1 30.9 59.7 631.1 310.3Southwestern Marine 3,396.3 5,439.7 1,536.9 985.5 23.7 146.3 381.3 2,675.9 1,983.2Northern 72,895.5 32,576.6 8,862.6 5,845.0 4.6 838.4 2,174.6 14,901.3 11,310.0Sourthern 2,508.4 4,276.9 1,140.3 700.8 11.1 159.0 269.4 1,902.2 1,400.9

2P 234,982.2 224,127.0 28,824.6 20,780.0 460.0 2,257.4 5,327.2 37,760.0 27,706.4Northeastern Marine 59,972.7 24,878.7 9,689.4 8,763.8 298.2 213.9 413.5 3,996.8 2,150.8Southwestern Marine 21,087.4 27,055.6 3,430.8 2,161.5 61.7 367.6 840.1 6,138.8 4,369.2Northern 114,487.7 99,240.3 10,515.0 6,673.7 12.7 943.9 2,884.7 19,120.0 15,003.3Sourthern 39,434.3 72,952.5 5,189.4 3,181.1 87.4 732.1 1,188.9 8,504.3 6,183.1

Possible 63,326.0 33,658.3 14,737.9 10,149.8 101.7 1,233.8 3,252.6 22,614.3 16,916.3Northeastern Marine 6,114.9 1,154.3 3,096.5 2,892.8 70.7 42.8 90.2 896.1 468.9Southwestern Marine 4,186.0 6,338.6 1,758.5 1,056.0 22.8 142.1 537.7 3,433.0 2,796.6Northern 51,752.8 24,660.4 9,209.9 5,729.2 6.5 974.3 2,499.9 17,383.0 13,001.8Sourthern 1,272.4 1,505.0 673.0 471.8 1.8 74.7 124.8 902.2 649.0

* Gas liquids from processing plants.** The liquid obtained assumes a heat value equivalent to the Maya crude oil and an average mixture of the dry gas obtained at cactus, Ciudad PEMEX and Nuevo PEMEX.Note: All units are expressed at atmospheric conditions and assume 15.6 °C and 14.7 lb of pressure per square inch.

Petróleos Mexicanos, Subsidiary Entities and Subsidiary CompaniesHydrocarbon reserves as of January 1st, 2009




www.pemex.com

Table A5




Total (3P) 66,087.6 26,033.0 12,785.9 11,656.6 368.9 256.6 503.7 4,892.9 2,619.7Cantarell 37,761.3 17,836.6 6,429.1 5,657.9 258.6 171.8 340.8 2,840.4 1,772.6Ku-Maloob-Zaap 28,326.3 8,196.4 6,356.8 5,998.7 110.3 84.9 162.9 2,052.5 847.1

Proved 54,356.6 23,981.4 6,712.3 5,919.3 256.1 183.0 353.9 3,365.8 1,840.4Cantarell 36,961.1 17,583.9 3,501.6 2,958.2 184.8 121.9 236.6 1,992.2 1,230.5Ku-Maloob-Zaap 17,395.5 6,397.6 3,210.7 2,961.0 71.3 61.1 117.3 1,373.5 609.9

Probable 5,616.1 897.3 2,977.1 2,844.5 42.1 30.9 59.7 631.1 310.3Cantarell 293.2 58.0 1,290.3 1,216.3 22.2 17.6 34.2 284.2 177.9Ku-Maloob-Zaap 5,322.9 839.3 1,686.8 1,628.2 19.9 13.3 25.5 346.9 132.4

2P 59,972.7 24,878.7 9,689.4 8,763.8 298.2 213.9 413.5 3,996.8 2,150.8Cantarell 37,254.3 17,641.9 4,791.9 4,174.6 207.0 139.5 270.8 2,276.5 1,408.4Ku-Maloob-Zaap 22,718.4 7,236.8 4,897.5 4,589.2 91.2 74.4 142.7 1,720.4 742.4

Possible 6,114.9 1,154.3 3,096.5 2,892.8 70.7 42.8 90.2 896.1 468.9Cantarell 507.0 194.8 1,637.2 1,483.3 51.6 32.3 70.0 563.9 364.2Ku-Maloob-Zaap 5,607.9 959.6 1,459.3 1,409.5 19.1 10.5 20.1 332.2 104.7


Petróleos Mexicanos, Subsidiary Entities and Subsidiary CompaniesHydrocarbon reserves of the Northeastern Marine Region as of January 1st, 2009




www.pemex.com

Table A6




Total (3P) 25,273.4 33,394.2 5,189.4 3,217.4 84.5 509.7 1,377.8 9,571.8 7,165.8Abkatún-Pol-Chuc 16,559.2 15,978.3 1,448.8 1,083.4 33.6 118.3 213.5 1,784.8 1,110.2Holok-Temoa 0.0 3,497.7 514.9 0.0 23.2 70.1 421.6 2,430.3 2,192.7Litoral de Tabasco 8,714.2 13,918.2 3,225.6 2,134.0 27.7 321.2 742.7 5,356.7 3,862.9

Proved 17,691.1 21,615.9 1,893.9 1,176.0 38.0 221.2 458.8 3,462.9 2,386.0Abkatún-Pol-Chuc 14,158.1 14,459.1 819.3 563.4 22.6 82.8 150.5 1,243.1 782.7Holok-Temoa 0.0 428.5 70.4 0.0 4.4 13.6 52.3 308.6 272.1Litoral de Tabasco 3,533.0 6,728.4 1,004.3 612.6 11.0 124.8 256.0 1,911.2 1,331.2

Probable 3,396.3 5,439.7 1,536.9 985.5 23.7 146.3 381.3 2,675.9 1,983.2Abkatún-Pol-Chuc 1,249.1 1,133.1 433.2 343.9 8.9 29.0 51.5 437.1 267.7Holok-Temoa 0.0 910.4 130.1 0.0 6.8 20.4 102.9 606.9 535.2Litoral de Tabasco 2,147.2 3,396.1 973.5 641.6 8.1 96.9 226.9 1,631.9 1,180.3

2P 21,087.4 27,055.6 3,430.8 2,161.5 61.7 367.6 840.1 6,138.8 4,369.2Abkatún-Pol-Chuc 15,407.2 15,592.2 1,252.5 907.3 31.4 111.8 202.0 1,680.2 1,050.4Holok-Temoa 0.0 1,338.9 200.5 0.0 11.2 34.0 155.2 915.5 807.3Litoral de Tabasco 5,680.2 10,124.5 1,977.8 1,254.2 19.1 221.7 482.9 3,543.1 2,511.5

Possible 4,186.0 6,338.6 1,758.5 1,056.0 22.8 142.1 537.7 3,433.0 2,796.6Abkatún-Pol-Chuc 1,152.0 386.2 196.3 176.2 2.1 6.5 11.5 104.6 59.8Holok-Temoa 0.0 2,158.8 314.5 0.0 12.0 36.1 266.4 1,514.8 1,385.4Litoral de Tabasco 3,034.0 3,793.7 1,247.8 879.8 8.6 99.6 259.8 1,813.6 1,351.4


Petróleos Mexicanos, Subsidiary Entities and Subsidiary CompaniesHydrocarbon reserves of the Southwestern Marine Region as of January 1st, 2009




www.pemex.com

Table A7




Total (3P) 166,240.5 123,900.7 19,724.8 12,402.9 19.1 1,918.2 5,384.6 36,503.1 28,005.0Aceite Terciario del Golfo 136,783.6 54,222.0 17,392.7 11,554.0 0.0 1,790.2 4,048.5 28,822.7 21,055.8Burgos 142.3 21,895.6 963.0 0.0 17.9 74.6 870.5 4,786.8 4,527.4Poza Rica-Altamira 28,492.8 42,172.2 1,103.9 820.4 0.0 47.8 235.7 1,666.8 1,225.7Veracruz 821.9 5,610.9 265.3 28.5 1.3 5.5 230.0 1,226.7 1,196.1

Proved 41,592.2 66,663.6 1,652.4 828.7 8.0 105.5 710.1 4,218.7 3,693.3Aceite Terciario del Golfo 13,114.5 4,467.8 668.2 501.0 0.0 51.2 115.9 824.6 603.0Burgos 130.0 16,674.7 391.2 0.0 7.6 32.6 351.0 1,933.4 1,825.6Poza Rica-Altamira 27,569.2 40,061.0 412.4 314.7 0.0 20.1 77.6 587.7 403.6Veracruz 778.6 5,460.2 180.5 13.0 0.4 1.6 165.6 873.0 861.1

Probable 72,895.5 32,576.6 8,862.6 5,845.0 4.6 838.4 2,174.6 14,901.3 11,310.0Aceite Terciario del Golfo 72,701.6 29,248.5 8,134.0 5,507.2 0.0 803.6 1,823.2 12,869.1 9,482.4Burgos 8.6 2,314.2 230.3 0.0 4.5 19.0 206.8 1,133.0 1,075.5Poza Rica-Altamira 149.8 976.9 455.9 332.7 0.0 15.4 107.8 704.3 560.5Veracruz 35.5 37.0 42.5 5.1 0.1 0.4 36.8 194.9 191.5

2P 114,487.7 99,240.3 10,515.0 6,673.7 12.7 943.9 2,884.7 19,120.0 15,003.3Aceite Terciario del Golfo 85,816.1 33,716.3 8,802.2 6,008.2 0.0 854.8 1,939.2 13,693.8 10,085.4Burgos 138.6 18,988.9 621.5 0.0 12.2 51.5 557.8 3,066.4 2,901.2Poza Rica-Altamira 27,719.0 41,037.9 868.3 647.4 0.0 35.5 185.4 1,292.0 964.1Veracruz 814.0 5,497.2 223.0 18.1 0.5 2.0 202.4 1,067.9 1,052.6

Possible 51,752.8 24,660.4 9,209.9 5,729.2 6.5 974.3 2,499.9 17,383.0 13,001.8Aceite Terciario del Golfo 50,967.5 20,505.7 8,590.5 5,545.8 0.0 935.4 2,109.3 15,129.0 10,970.5Burgos 3.7 2,906.7 341.5 0.0 5.7 23.1 312.7 1,720.4 1,626.2Poza Rica-Altamira 773.8 1,134.3 235.6 173.0 0.0 12.3 50.3 374.8 261.6Veracruz 7.9 113.7 42.2 10.4 0.8 3.5 27.6 158.8 143.5


Petróleos Mexicanos, Subsidiary Entities and Subsidiary CompaniesHydrocarbon reserves of the Northern Region as of December 1st, 2009




www.pemex.com

Table A8




Total (3P) 40,706.7 74,457.5 5,862.5 3,652.9 89.2 806.8 1,313.6 9,406.5 6,832.1Bellota-Jujo 11,854.3 15,492.5 1,681.5 1,095.6 45.6 215.6 324.7 2,492.9 1,688.8Cinco Presidentes 7,134.3 6,821.3 495.4 390.4 0.0 39.9 65.0 528.5 338.3Macuspana 435.1 9,047.7 383.4 97.2 0.6 79.9 205.8 1,299.4 1,070.2Muspac 7,410.5 24,896.9 733.7 343.3 7.5 149.1 233.9 1,675.4 1,216.6Samaria-Luna 13,872.5 18,199.1 2,568.5 1,726.4 35.6 322.4 484.2 3,410.4 2,518.3

Proved 36,926.0 68,675.6 4,049.1 2,480.2 76.3 573.1 919.5 6,602.1 4,782.2Bellota-Jujo 10,828.1 14,011.7 1,439.7 930.7 40.4 187.5 281.1 2,155.4 1,461.8Cinco Presidentes 6,721.5 6,273.9 247.0 190.9 0.0 21.3 34.8 271.6 180.7Macuspana 256.0 7,860.0 169.0 39.4 0.6 29.0 100.1 609.3 520.7Muspac 6,725.3 23,384.5 316.1 98.7 5.1 84.9 127.4 915.9 662.5Samaria-Luna 12,395.1 17,145.6 1,877.3 1,220.5 30.2 250.5 376.2 2,650.0 1,956.4

Probable 2,508.4 4,276.9 1,140.3 700.8 11.1 159.0 269.4 1,902.2 1,400.9Bellota-Jujo 939.7 1,310.0 208.4 141.8 4.6 24.8 37.2 289.7 193.5Cinco Presidentes 230.4 314.3 117.8 92.0 0.0 9.8 16.0 118.2 83.0Macuspana 147.5 882.0 153.9 42.7 0.1 34.5 76.6 494.4 398.6Muspac 529.4 1,213.7 201.9 109.1 1.4 34.7 56.7 416.3 294.9Samaria-Luna 661.4 557.0 458.4 315.2 5.1 55.2 82.9 583.5 431.0

2P 39,434.3 72,952.5 5,189.4 3,181.1 87.4 732.1 1,188.9 8,504.3 6,183.1Bellota-Jujo 11,767.8 15,321.6 1,648.1 1,072.5 45.0 212.3 318.3 2,445.2 1,655.3Cinco Presidentes 6,951.8 6,588.1 364.8 282.9 0.0 31.1 50.7 389.8 263.8Macuspana 403.5 8,742.0 322.9 82.1 0.6 63.5 176.7 1,103.7 919.2Muspac 7,254.7 24,598.1 518.0 207.8 6.5 119.6 184.1 1,332.2 957.4Samaria-Luna 13,056.5 17,702.6 2,335.7 1,535.7 35.3 305.6 459.0 3,233.5 2,387.4

Possible 1,272.4 1,505.0 673.0 471.8 1.8 74.7 124.8 902.2 649.0Bellota-Jujo 86.5 170.9 33.4 23.1 0.6 3.3 6.4 47.8 33.5Cinco Presidentes 182.5 233.2 130.6 107.5 0.0 8.8 14.3 138.7 74.5Macuspana 31.6 305.6 60.5 15.1 0.0 16.4 29.0 195.7 150.9Muspac 155.8 298.7 215.7 135.4 1.0 29.5 49.8 343.2 259.2Samaria-Luna 816.0 496.5 232.8 190.6 0.2 16.8 25.2 176.8 130.9


Petróleos Mexicanos, Subsidiary Entities and Subsidiary CompaniesHydrocarbon reserves of the Southern Region as of December 1st, 2009




www.pemex.com

If you need to contact Investor Relations or to be included in the distribution list, please call or send an e-mail to: Telephone: (52 55) 1944 9700 Voice mail: (52 55) 1944 2500 ext. 59412 [email protected] Celina Torres Andrés Brügmann [email protected] [email protected] Guillermo Regalado Rebeca González [email protected] [email protected] Carmina Moreno Cristina Arista [email protected] [email protected] Paulina Nieto [email protected] PEMEX is Mexico’s national oil and gas company. Created in 1938, it is the exclusive producer of Mexico’s oil and gas resources. The operating subsidiary entities are Pemex-Exploration and Production, Pemex-Refining, Pemex-Gas and Basic Petrochemicals and Pemex-Petrochemicals. The principal subsidiary company is PMI, its international trading arm. This report contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the Mexican National Banking and Securities Commission (CNBV) and the United States Securities and Exchange Commission (SEC), in our annual report, in our offering circulars and prospectuses, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. We may include forward-looking statements that address, among other things, our:

drilling and exploration activities; import and export activities; and projected investment and other costs, commitments and revenues as well as liquidity.

Actual results could differ materially from those projected in such forward-looking statements as a result of factors beyond our control. These factors include, but are not limited to:

changes in international crude oil and natural gas prices; effects on us from competition; limitations on our access to sources of financing on competitive terms; significant economic or political developments in Mexico; developments affecting the energy sector; and changes in our regulatory environment.

Accordingly, you should not place undue reliance on these forward-looking statements. In any event, these statements speak only as of their dates, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise. These risks and uncertainties are more fully detailed in PEMEX’s most recent Form 20-F filing, as amended, with the SEC (www.sec.gov) and the PEMEX prospectus filed with the CNBV and available through the Mexican Stock Exchange (www.bmv.com.mx). These factors could cause actual results to differ materially from those contained in any forward-looking statement. The SEC permits oil and gas companies, in their filings, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this document, such as total reserves, probable reserves and possible reserves, that the SEC's guidelines strictly prohibit us from including in filings. Investors are urged to consider closely the disclosure in our Form 20-F, as amended, “File No. 0-99,” available from us at www.pemex.com Marina Nacional 329, Floor 38, Col. Huasteca, Mexico City 11311 or (52 55) 1944 9700. You can also obtain this form directly from the SEC by calling 1-800-SEC-0330.
mailto:[email protected]://www.sec.gov/http://www.bmv.com.mx/http://www.pemex.com/

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