Page 16 - 2020 CORPORATE PROFILE FUELQO ENERGIA LIMITED

Strictly Private & Confidential

Saudi Arabia has around 80 oil and gas fields (and over 1,000 wells), more than half of its oil reserves
are contained in only eight fields, including Ghawar (the world's largest oil field, with estimated
remaining reserves of 70 billion barrels) and Safaniya (the world's largest offshore oilfield, with
estimated reserves of 35 billion barrels). Ghawar alone accounts for about half of Saudi Arabia's total
oil production capacity.

Saudi Arabia maintains crude oil production capacity of around 10.5-11.0 million bbl/d, and claims that
it is "easily capable" of producing up to 15 million bbl/d in the future and maintaining that production
level for 50 years.

Brent Blend Crude

This is a major trading classification of sweet light crude oil that serves as a major benchmark price for
purchases of oil worldwide. Brent Crude is sourced from the North Sea, and comprises Brent Blend,
Forties Blend, Oseberg and Ekofisk crudes (also known as the BFOE Quotation). The Brent Crude oil
marker is also known as Brent Blend, London Brent and Brent petroleum.

The other well-known classifications (also called references or benchmarks) are the OPEC Reference
Basket, Dubai Crude, Oman Crude, and West Texas Intermediate. Brent is the leading global price
benchmark for Atlantic basin crude oils. It is used to price two thirds of the world's internationally
traded crude oil supplies.

West Texas Intermediate Crude

(WTI) is a light, sweet crude oil commonly referred to as "oil" in the Western world. WTI is the
underlying commodity of the New York Mercantile Exchange's oil futures contracts.

WTI is considered “sweet" crude because it is about 0.24% sulfur, a lower concentration than North
Sea Brent crude. WTI is high quality oil that is easily refined.

Dubai Crude

Dubai Crude is a light sour crude oil extracted from Dubai. Dubai Crude is used as a price benchmark
or oil marker because it is one of only a few Persian Gulf crude oils available immediately and exported
to Asia. The Dubai benchmark is also known as Fateh is used in the United Arab Emirates. Forward
trade of Dubai Crude is limited to one or two months. It has a gravity of 31° API (specific gravity of
0.871) and a sulfur content of 2%/weight.

Oman Crude

Oman Crude is medium sour crude from Oman destined for East of Suez markets.

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