Agbami Hit 250,000 B/D Peak in August 2009

The Chevron operated Agbami field offshore Nigeria reached peak production of 250,000 barrels per day in August 2009, or four months ahead of schedule. Commencing production in July 2008, the field contains an estimated 900 million barrels of oil equivalent of recoverable hydrocarbons, one of the largest discoveries to date in Nigeria. Agbami stretches across 45,000 acres and is located some 70 miles (113 kilometers) offshore the Niger Delta basin, straddling blocks OML 127 and 128. The field’s water depth is 4,500 feet (1,372 meters). The crude oil found in Agbami is light and sweet, with a 45-degree API gravity and no contaminants. Besides operator Chevron, other partners in Agbami are Petrobras, Nigerian National Petroleum Corp., Famfa Oil Ltd. and StatoilHydro ASA.