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| STRATEGY |
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We seek to develop the potential of our Natuna Sea, North Sumatra and Nam Con Son Basin assets, bringing relationships, knowledge and technical skills to bear and developing new business opportunities in related technical or geographical areas. |
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| 2008 HIGHLIGHTS AND ACHIEVEMENTS |
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Completion of Gas Sales Agreements (GSAs) for Singapore and Batam Island customer base |
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Successful appraisal of Chim Sáo field and commencement of platform construction work |
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Renegotiation of GSA and Production Sharing Contract (PSC) terms for gas development projects on North Sumatra Block A |
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New PSC awarded in Vietnam (Block 104-109/05) |
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| STRATEGY |
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We seek to maximise the value of our Pakistan producing gas fields, extending our technical skills to new regional opportunities with our joint venture partner. |
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| 2008 HIGHLIGHTS AND ACHIEVEMENTS |
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Record production in Pakistan exceeding 14,500 boepd |
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Zamzama Phase 2 and Qadirpur plant capacity enhancement completed |
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Drilling success on North West Gemsa permit in Egypt now onstream |
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Active pursuit of new regional opportunities with Emirates International Investment Company LLC (EIIC) |
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| STRATEGY |
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We seek to build on our existing producing assets in the UK whilst accessing organic growth opportunities in Norway and selected West African locations. |
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| 2008 HIGHLIGHTS AND ACHIEVEMENTS |
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Strong production performance from Wytch Farm and Kyle fields in the UK |
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Submission of field development plan on Frøy and 10-year licence extension granted |
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Successful appraisal of Banda gas field in Mauritania |
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Progression to drilling phase of exploration blocks in Norway and Congo |
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US$505 million acquisition of Oilexco North Sea Limited announced March 2009 |
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Adds 60 mmboe of reserves and resources to North Sea business unit |
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Adds current production of 13,700 boepd |
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Funded by new bank facility of US$550 million and 4 for 9 rights issue |
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