NATIONAL IRANIAN OIL COMPANY (NIOC)
                                                  RESEARCH INSTITUTE OF PETROLEUM INDUSTRY (RIPI)
                                            CRUDE OIL AND PETROLEUM PRODUCTS EVALUATION DEPARTMENT
                                                         IRANIAN LIGHT CRUDE OIL
                         TABLE 1: CRUDE OIL GENERAL PROPERTIES ANALYSIS
                                   CHARACTERISTICS               UNITS            RESULT            TEST METHOD
                         Specific Gravity @ 15.56 /15.56 °C       ---                               ASTM D5002
                                                                                 0.8568
                         API Gravity                              °API                              ASTM D5002
                                                                                  33.6
                         Sulfur Content (Total)                  wt.%                               ASTM D4294
                                                                                  1.46
                         H S Content
                                                                  ppm                                  IP 570
                                                                                   86
                          2
                         Mercaptan Content                        ppm                                 UOP 163
                                                                                   60
                         Nitrogen Content (Total)                wt.%                               ASTM D 5762
                                                                                  0.13
                         Water & Sediment                        vol.%                              ASTM D4007
                                                                                  < 0.05
                         Water Content                           vol.%                              ASTM D4006
                                                                                 < 0.025
                         Salt Content                             PTB                               ASTM D3230
                                                                                    7
                                                                    2
                         Kinematic Viscosity @ 10 °C
                                                                                  19.50
                                                                mm /s
                                                                    2
                                                                                                     ASTM D445
                         Kinematic Viscosity @ 20 °C
                                                                                  10.88
                                                                mm /s
                                                                    2
                         Kinematic Viscosity @ 40 °C
                                                                                  6.319
                                                                mm /s
                         Pour Point (Upper)                        °C                               ASTM D5853
                                                                                   -12
                          RReeiidd  VVapapoorr  PrPreessssuurree  ppssii                             AASSTTMM  DD323323
                                                                                  8.95
                                                                                  8.95
                         Asphaltene Content                      wt.%                                    IP 143
                                                                                   1.6
                         Wax Content                             wt.%                                   BP 237
                                                                                   4.8
                         Drop Melting Point of Wax                 °C                                    IP 133
                                                                                   57
                         Conradson Carbon Residue                wt.%                                ASTM D189
                                                                                  4.50
                         Total Acid Number                     mg KOH/g                               UOP 565
                                                                                  0.12
                         Nickel Content                          mg/kg
                                                                                   11
                         Vanadium Content                        mg/kg
                                                                                   40
                         Iron Content                            mg/kg
                                                                                    <1
                                                                                                    ASTM D5863
                         Lead Content                            mg/kg
                                                                                   <1
                         Sodium Content                          mg/kg
                                                                                    8
                         Zinc Content                            mg/kg
                                                                                   <1
                         Copper Content                          mg/kg
                                                                                    <1
                        Sampling Date: from 08 Day 1395 (28 Dec. 2016) to 12 Day 1395 (1 Jan. 2017)
                        Report Date: 07 Esfand 1395 (25 Feb. 2017)