• Equity production increased by 10% from 2007, to 465 mmboe/day.
• High exploration activity: eight discoveries out of 40 exploration wells in 2008, with several interesting discoveries in Algeria, Angola, the UK and the Gulf of Mexico.
• PSVM development in Block 31 in Angola was sanctioned by Sonangol on 28 July 2008.
• Production from four new fields added a total capacity of approximately 100 mboe per day:
  • Mondo in Angola
  • Saxi Batuque in Angola
  • Agbami in Nigeria
  • ACG phase 3 in Azerbaijan
    
    

Acquisitions:

• We have made a strategically important move into unconventional gas through the acquisition of a 32.5% interest in Chesapeake's Marcellus shale gas acreage in the Appalachian region in the USA.
• Our position as an international operator has been strengthened through taking over project responsibility for the Peregrino development off the coast of Brazil, following the acquisition of the remaining 50% interest in this field.