The Agbami field in deep waters off Nigeria has been developed with subsea wells connected to an FPSO. Production started up on 29 July 2008.

Agbami, operated by Chevron, is located in licences OML 127 and OML 128, approximately 110 kilometres off the Nigerian coast. Our interest in the unitised field is 18.85%. The Agbami field is expected to reach a plateau production of 250 mboe per day by late 2009.

There is renewed vigour on the part of the Nigerian government to restructure the oil and gas sector. StatoilHydro is following developments in the country. So far, it is not possible to determine the impact of potential regulation restructuring.

With the Supreme Court judgment on the validity of the 2007 presidential election still pending, the political situation remains unstable, but there has been an improvement in the security situation in the strategically important oil region in the Niger Delta.

The overall security and political situation is monitored continuously. We have developed rigorous security measures to protect our personnel and other assets. Appropriate measures are continuously being assessed based on the perceived risk level.