Ninety-six percent of our projected 2012 production is related to already-sanctioned fields. During 2009, we expect the Gimboa field in Angola and Tahiti and Thunder Hawk fields in the USA to start production. We expect our short-term production to be affected by OPEC quotas.

Our exploration strategy remains unchanged as we view exploration as our primary growth tool. We will continue to look at acreage acquisitions in the areas that have high resource potential. However, we have adjusted our exploration activity somewhat due to changes in the oil price environment and therefore expect slightly lower activity in 2009 compared to last year.

Approximately 30 to 35 international exploration and appraisal wells are expected to be drilled in 2009. Rig capacity has been confirmed for this drilling.

We will continue to develop and execute new projects in the portfolio with the focus on cost consciousness and capital flexibility.