The Agbami field is produced from subsea wells connected to an FPSO. It is located about 110 kilometres off the coast of Nigeria and is operated by Chevron. The field is producing close to the nominal plateau rate of 250 mboe per day.
The National Assembly is still debating the Petroleum Industry Bill (PIB), which will most likely increase the government take if passed.
Together with our partner Chevron we are currently in arbitration with the national oil company NNPC over the interpretation of certain clauses in the production sharing contract (PSC) that governs our share of Agbami.
The security situation in Lagos and the rest of south west Nigeria is normally medium to high depending on the time of day. While the kidnapping of middle- to high-income Nigerians does take place, it is relatively rare. Robberies and car snatching are more common place. There is, however, an increase in piracy and other waterborne crime. There has been no impact on large crude oil tankers in 2011. Convoy and security vessels are used to protect supply ships and other smaller vessels. Kidnappings are on the rise in the Delta area in the south. The security situation is similarly serious in the north east.