Nigeria Fact Sheet

Nigeria Fact Sheet | May 2015

Nigeria Fact Sheet | 1

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Nigeria Fact Sheet Highlights of Operations

Chevron is the third-largest oil producer in Nigeria and one of its largest investors.

In Nigeria, we operate under a joint-venture arrangement with the Nigerian National Petroleum Corporation and have assets on

land and in near-offshore regions of the Niger Delta.

Chevron also has extensive interests in multipartner deepwater operations. We operate the Agbami Field, one of Nigeria's

largest deepwater discoveries. We also have a nonoperated interest in the Usan Field.

Business Portfolio

Exploration and Production

Through Chevron's principal subsidiary in Nigeria, Chevron Nigeria Limited (CNL), the company operates and holds a 40 percent

interest in nine concessions under a joint-venture arrangement with the Nigerian National Petroleum Corporation (NNPC).

Chevron also does business through other subsidiaries in Nigeria.

In 2014, Chevron's net daily production in Nigeria averaged 240,000 barrels of crude oil, 236 million cubic feet of natural gas and

6,000 barrels of liquefied petroleum gas.

Deep Water

Chevron has interests, ranging from 20 percent to 100 percent, in three operated and six nonoperated deepwater blocks in

Nigeria.

Chevron operates the Agbami Field, which lies 70 miles (113 km) off the coast of the central Niger Delta region and spans

45,000 acres (182 sq km). Discovered in 1998, the Agbami Field is at a water depth of approximately 4,800 feet (1,463 m).

Chevron has a 67.3 percent interest in the field. In 2014, net daily production averaged 134,000 barrels of crude oil and 15

million cubic feet of natural gas.

Agbami is a subsea development with wells tied back to a floating production, storage and offloading (FPSO) vessel. A 10-well

Phase 2 development program is expected to offset field decline and to maintain production capacity. As of early 2015, eight of

the wells were producing. The next phase, Agbami 3, is a five-well drilling program that began drilling in early 2015 and is

expected to start production in 2016. Drilling is scheduled to continue through 2017.

Chevron has a 30 percent nonoperated working interest in the Usan Project, in 2,461 feet (750 m) of water, 62 miles (100 km) off

the coast of the eastern Niger Delta region. Net daily production in 2014 averaged 32,000 barrels of crude oil and 3 million cubic

feet of natural gas. Additional development drilling is planned through 2018.

The Aparo Field and the Bonga SW Field share a common geologic structure and are planned to be developed jointly. The

structure lies in 4,300 feet (1,311 m) of water, 70 miles (113 km) off the coast of the western Niger Delta region. The proposed

development plan involves subsea wells tied back to an FPSO vessel. A final investment decision is expected in 2015 or 2016.

Exploration

Chevron operates and has a 95 percent interest in the Nsiko discovery in OML 140, which lies in roughly 8,000 feet (2,438 m) of

water, 90 miles (145 km) off the coast of the western Niger Delta region. An exploration well at the Nsiko North prospect was

drilled in the fourth quarter of 2014, and more exploration drilling is planned for 2015.


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In 2014, we drilled two exploration wells and discovered crude oil in the Usan area. In 2015, the company plans to evaluate

development options.

Natural Gas

Chevron is involved in natural gas projects in the western Niger Delta and Escravos areas, including the optimization of the

Escravos Gas Plant (EGP), the Escravos Gas-to-Liquids (EGTL) facility and the Sonam Field Development Project.

CNL operates and holds a 40 percent interest in the EGP development. The EGP Phase 3B project is focused on eliminating

routine flaring of natural gas associated with crude oil production. The project includes installation of 74 miles (119 km) of subsea

pipelines and modifications to the production platforms. The project is expected to be completed in 2016.

Chevron and the NNPC developed the EGTL facility, a 33,000-barrel-per-day gas-to-liquids project designed to process 325

million cubic feet per day of natural gas from the EGP expansion. Chevron is the operator and has a 75 percent interest in the

plant, which began production in mid-2014.

The Sonam Field Development is designed to use the EGP facilities to deliver 215 million cubic feet of natural gas per day to the

domestic gas market and produce a total of 30,000 barrels of liquids per day. First production at the 40 percent-owned and

operated project is expected in 2017.

With a 36.7 percent interest, Chevron is the largest shareholder in the West African Gas Pipeline Company Limited, which owns

and operates the 421-mile (678-km) West African Gas Pipeline. The pipeline supplies customers in Benin, Ghana and Togo with

Nigerian natural gas for power generation and industrial applications. It has the capacity to transport approximately 170 million

cubic feet of natural gas per day.

In the Community

Chevron takes seriously its role in Nigeria and is active in many projects that promote health, economic development and

education.

Responding to Needs in the Niger Delta

In 2005, Chevron Nigeria Limited (CNL) adopted the Global Memorandum of Understanding (GMoU) as a new approach to

community engagement in the Niger Delta to improve local participation in determining the needs our programs should address.

This model gives communities a greater role in managing their development through the Regional Development Councils.

Under the GMoU process, more than 258 projects in about 400 communities have benefited more than 600,000 people. Projects

worth more than $83 million have been completed.

In 2011, Chevron announced its partnership with the U.S. Agency for International Development in contributing $50 million to the

Niger Delta Partnership Initiative (NDPI) Foundation to support programs that promote economic development and improved

government and civil institutions and that help reduce conflict in the region. Partnership Initiatives in the Niger Delta (PIND) was

incorporated in Nigeria to implement and support these programs. In 2014, Chevron committed an additional $40 million to the

NDPI over the next five years.

The PIND works in four program areas: supporting economic development, promoting peace through conflict resolution,

improving capabilities of government and communities, and developing better analysis of systemic limits to growth.

Fighting HIV/AIDS in Nigeria

Chevron helps fight the spread of HIV/AIDS in Nigeria. In 2008, we directed $5 million of the $30 million we contributed to the

Global Fund to Fight AIDS, Tuberculosis and Malaria (the Global Fund) to Nigeria's National Agency for the Control of AIDS in

support of AIDS treatment programs. In 2015, Chevron is committing new funding to Nigeria through the Global Fund to support

prevention of mother-to-child transmission of HIV.


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In 2012, Chevron partnered with Born Free Africa in an effort to help develop capacity within state ministries of health. The

partnership supports state governments' progress toward achieving concrete targets for the prevention of mother-to-child

transmission (PMTCT) of HIV in Nasarawa, Bayelsa and Rivers states. So far it has helped equip more than 670 health facilities

to provide PMTCT services.

Also in 2012, Chevron announced a partnership with the nongovernmental organization Pact in support of the PROMOT project,

an initiative designed to support PMTCT in Bayelsa state. The project works with community-based organizations and local

governments to provide education and testing services throughout Bayelsa state. Thanks to the work, more than 46,000

pregnant women have been tested for HIV and have received counseling.

Supporting Public Health

CNL's Riverboat Clinic provides a mobile health service to communities along the creeks and islets of the Escravos and Benin

rivers in the western Niger Delta. The boat has been providing free treatment to communities since it was launched in 2001. In

2014, more than 50,800 men, women and children benefited from its services.

The Roll Back Malaria initiative focuses on helping pregnant women and children aged 4 and younger. CNL launched the

program in 2006 and provides financial and volunteer support to control malaria in about 320 communities.

To help in the early diagnosis and treatment of tuberculosis, chest and lung diseases, Chevron and its business partners in the

Agbami Field have donated 23 chest clinics to hospitals across Nigeria since 2008. The clinics are equipped with mobile X-ray

units, consulting rooms, laboratories and wards.

Chevron also provided the Lagos University Teaching Hospital with a molecular biology research laboratory. The laboratory

provides genetic diagnostic tools that aid in the diagnosis, management and treatment of people with genetic abnormalities. In

July 2014, the laboratory helped to detect the first case of the Ebola virus in Nigeria.

Helping Students and the Needy

Chevron grants scholarships to secondary school and college students. In 2009, Chevron and its Agbami partners initiated the

Medical and Engineering Professionals Scholarship. More than 12,400 college students have benefited from the program.

We support the Scholarship for the Blind, which aids visually challenged students living in the states where we operate.

Chevron and its deepwater partners have donated $11.6 million to secondary schools in Nigeria to build and equip 24 science

laboratories and 14 hybrid libraries. Hybrid libraries offer a mix of print and electronic resources.

Care for the Environment

Chevron provides funding for the Lekki Conservation Centre. The 190-acre (0.8-sq-km) sanctuary protects the flora and fauna of

the Lekki Peninsula and is the only one of its kind in the Lagos area. The facility is dedicated to promoting sound environmental

practices through research and education.

Record of Achievement

Chevron began doing business in Nigeria in 1913, when Texaco products were first marketed in the country.

Following the Nigerian Indigenization Decree of 1978, Chevron divested 40 percent of its shareholdings in Chevron Oil Nigeria

PLC to the Nigerian public while retaining 60 percent equity.

In 1996, we built our 103,000-barrel state-of-the-art storage terminal and loading facility in Apapa.

Our energy exploration and production work began more than 50 years ago.


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In 1963, American Overseas Petroleum Ltd.which later became Texaco Overseas (Nigeria) Petroleum Co.discovered oil at

the Koluama Field, offshore Nigeria. In that same year, Chevron Nigeria Limited (CNL) started drilling near the Escravos River

and found the Okan Field.

Discovered in 1998, the Agbami Field is one of the largest deepwater discoveries in Nigeria's history.

Health, Environment and Safety

Nigeria is one of three African countries participating in the Arrive Alive program pioneered by Chevron.

Chevron upgraded the Okan Platform, installed in 1963, and other mature platforms to improve pollution prevention measures

and safety systems.

Chevron is working across its operations to eliminate routine gas flaring and venting in line with company requirements and local

regulations.

Awards

CNL has received several awards and honors:

In 2003, CNL won the U.S. State Department's Award for Corporate Excellence. The company was praised for its work in Nigeria for, among other things, our airlift of more than 2,000 community members to safety in 2003 during ethnic

conflict in the Niger Delta, the Riverboat Clinic and our HIV/AIDS prevention efforts.

The Nigerian Conservation Foundation honored CNL in 2002 with its Award for Environmental Excellence. In 2014, the Chartered Institute of Personnel Management of Nigeria presented CNL with its Human Resources Best

Practice Award, in the Overall and Oil and Gas categories.

Chevron was given an Award of Appreciation from the Tertiary Education Trust Fund in recognition of contributions made to improve the quality of education in Nigeria.

In 2012, CNL was named Best Community Development Company of the Year by the National Association of Energy Correspondents, a group of journalists covering the energy sector.

For CNL's contributions to the development of Nigeria's accountants, the Institute of Chartered Accountants of Nigeria gave CNL its Merit Award in the Corporate category.

Economy

Chevron is committed to the Nigerian government's policy on local content development. CNL fosters strong business

partnerships with local service providers and product suppliers and works to increase their professional capabilities. CNL's Local

Community Content Development team promotes commerce with local businesses.

Contact Us

Chevron Nigeria Limited

2 Chevron Drive, Lekki Peninsula

Private Mail Bag 12825

Lagos, Nigeria

Telephone: +23.4.1.277.2222

Updated: May 2015


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CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF "SAFE

HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

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Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are:

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compared with the U.S. dollar; the effects of changed accounting rules under generally accepted accounting principles

promulgated by rule-setting bodies; and the factors set forth under the heading Risk Factors on pages 22 through 24 of the

Annual Report on Form 10-K of Chevron for the year ending December 31, 2014. In addition, such results could be affected by

general domestic and international economic and political conditions. Other unpredictable or unknown factors not discussed

could also have material adverse effects on forward-looking statements.

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