ANNUAL STATISTICAL BULLETIN

NIGERIAN NATIONAL PETROLEUM CORPORATION ANNUAL STATISTICAL BULLETIN JANUARY DECEMBER 1997 CORPORATE PLANNING AND DEVELOPMENT DIVISION (CPDD)

S/N 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. TABLE OF CONTENTS Executive Summary General Review of Nigeria s Petroleum Industry Activities in 1999 1997 Seismic Activities: Exploration 1997 Seismic Activities: Processing and Re-processing 1997 Rig Operations by Company 1997 Drilling Summary by Company Crude oil, Gas and Water Production - Full year 1997 Summary of Crude Oil Production compiled from Company s Monthly Report Crude Oil Production by Company, Crude stream Monthly Analysis of Crude Oil Production by Stream Monthly Analysis of Crude Oil Production by Company Nigeria Crude Oil Exports Analysis of Crude Oil Production vs Exports Nigeria Crude Oil Exports by Destination NNPC Equity Crude Oil Exports & Revenue by Types Gas Export and Revenue Gas Production and Utilization by field Summary of Gas Production and Utilization by Company Nigerian Gas Company: Gas Sales Joint Venture Gas Sales Statistics Total Crude Oil and Gas Revenue Flow Nigerian Crude Oil Realizable Prices Average Spot Prices of OPEC Reference Basket and Some Selected Crudes Nigerian Crude Oil Production and Exports (1961 1997) Nigerian Natural Gas Production and Disposal (1961 1997) World Crude Oil Production and Exports (1961 1997) Crude Oil Production in OPEC Member Countries (1961 1997) OPEC & Nigeria: % Contribution to World Crude Oil Production and Exports Nigerian Crude Oil Reserves and Production Ratio 1997 Refinery Crude Oil Balance Crude Oil Received Crude Oil Processed Finished Products Refinery Production Returns Refinery Fuel and Loss Statistics Domestic Consumption of Petroleum Products by States Petroleum Products Distribution by Marketing Company Bunker Sales Report Petroleum Product Exports Petroleum Products Imports Annual Petroleum Products Sales in Nigeria Petroleum Products Retail Price Trend Glossary of Terms Page 1 3 10 11 12 13 14 24 25 26 27 28 30 31 33 34 35 44 46 47 48 49 50 51 52 53 54 55 56 57 60 62 64 66 67 68 70 71 72 74 76 78 79

EXECUTIVE SUMMARY The operation Division of NAPIMS with the Joint Venture Partners and oil producing companies operating under the Production Sharing Contract (PSC) acquired 750 kilometres of 2-D seismic data and 17,458 square kilometers of 3-D seismic lines. In all, 26 rigs were in operations both onshore and offshore terrains. A total of 155 wells were spudded involving twelve (12) exploratory, fourteen (14) appraisal and one hundred and one (101) development wells, while the remaining twenty-eight (28) were worked over. Total crude oil production, including condensates, stood at 855.736 million barrels or an average of 2.344 million barrels per day in 1997. Total revenue generated into Federation Account amounted to $12.198 billion. Of this, PPT contribution stands at $3.014 billion, Royalties about $1.453 billion while equity oil sales accounted for about $7.527 billion. Crude oil suppliers to the three local refineries amounted to about 80.473 million barrels while 78 million barrels were processed. Total petroleum products produced by these refineries were put at about 9.37 million metric tonnes (86.714 million barrels). The difference between crude oil processed and product output can be explained as refinery fuel and loss which is about 12% 2

Petroleum Products Marketing Company (PPMC), a subsidiary of NNPC evacuated about 9.37 million metric tonnes of petroleum products from refineries and imported about 1.666 million metric tonnes for local consumption. In all, about 11.04 million metric tonnes of petroleum products were available for domestic consumption. Available oil statistics shows that total crude oil exports stood at 767.9 million barrels averaging 2.104 million barrels per day in 1997. Of this, the Federation (NNPC) Equity oil export stood at 392.3 million barrels. Natural gas produced in association with oil amounted to 1,142 Billion standard cubic feet. Of this, 801.8 Bscf (70.21%) was flared, while the remaining were re-injected, used as fuel, sold, or converted to NGL. Shell Development Producing Company (SPDC) sold 110.138 Bscf of natural gas amounting to N772,224 million, while NGC sold a total of 128.403 Bscf amounting to N2.468 billion. However, it should be noted that 85% of NGC sales is to NEPA at subsidized rate. 3

GENERAL REVIEW OF NIGERIA S PETROLEUM INDUSTRY ACTIVITIES IN 1997 1. Seismic Activities Geographical activities during the year were undertaken by four joint ventures companies and two other oil companies that are operating under production sharing contracts. Overall the companies acquired a total 17,457.63 square kilometers of 3-D seismic data while a total of 750 were covered under 2-D seismic survey. Nigeria Agip Oil Company (NAOC) shot a total of 2,021.63 square kilometers (3-D) seismic survey under production sharing contract and 400 square kilometers operating under the joint ventureship. The leading producing oil company, Shell Petroleum Development Company (SPDC) shot a total of 1,660 square kilometers of seismic activities. 2. Drilling Activities During the year under review a total number of 26 rigs were in operations both offshore and onshore (Land/Swamp) terrain s. Thirteen (13) of the rigs were both for offshore drilling activities while twelve (12) were involved in onshore drilling projects. The remaining one ( 1 ) rig was used as hoist 4

A total of 155 wells were spudded involving twelve (12) exploratory/completion, fourteen (14) appraisal, one hundred and one (101) development wells, while the remaining twenty-eight (28) wells were worked over. Joint Venture Oil Companies were involved in the four areas of drilling activities. In all, eight (8) exploratory, twelve (12) appraisal, one hundred and one (101) development and twenty-eight (28) worked-over wells were undertaken. The total wells spudded under this arrangement stood at one hundred and forty-nine (149) wells. Only six wells were spudded by companies operating under production sharing contracts (PSC). 3. Crude Oil Production Crude oil production, including Condensate, for the year stood at 855,736,287 barrels or an average of 2,344,483 barrels per day. This figure shows an increase of 173,841,647 (20.3%) over that of 1996 which stood at 681.894,600 barrels or an average of 1,863,100 barrels per day. Shell producing Development Company of Nigeria (SPDC) Produces 328,118,620 barrels (898,955 b/d) which is about 38.34% of all the production. SPDC is followed by Mobil 230,889,049 barrels (632,573 b/d), chevron 152,906,246 barrels (418,921 b/d), NAOC 54,177,629 barrels (148,432b/d) in that order. Other noticeable oil producers are Elf 5,857,103 barrels (118,907 b/d), Texaco 3,839,099 barrels (77,939 b/d), Pan-Oceanic 171,320 5

barrels (3,478 b/d), NPDC 232,918 barrels (4,729 b/d) and Connoco 398,050 barrels (8,081 b/d). shell, Mobil and chevron produced about 83.19% of the total oil and Condensate produced in 1997. Qua Iboe light crude stream topped the list of all crude oil streams with a total production of 199,478,837 barrels followed by Forcados Blend with 168,444,520 barrels and Bonny Light with 147,921,962 barrels in that order. Escravos Blend 136,547,437 barrels Brass Blend 62,658,559 Bonny Medium 39,544,154 Pennington Light 28,447,721 Odudu Blend 24,964,535 The total production of the least crude oil stream Ima, which was first produced in September 1997, stood at 1,999,460 barrels. 4. Domestic Refining During the period under review, three local refineries made up of WRPC, KRPC and PHRC received a total of 80,473,490 barrels, for processing. This includes Bonny Light 39,274,440 barrels, Escravos Light 36,381,250 barrels and Forcados Blend 2,334,750 6

barrels. Arab Light, which is foreign crude oil stream accounted for 2,463,220 barrels. Refinery Crude Processed (bbl) Through Put (b/d) Port-Harcourt 37,797,360 103,554 Warri 28,923,570 79,242 Kaduna 11,281,060 30,907 Total petroleum product produced by the three local refineries amounted to 9,280,829 metric tonnes for the year 1997. Of this PHRC produced 4,761,268 metric tonnes, WRPC 3,335,889 metric tonnes while KRPC produced 1,183,672 metric tonnes of petroleum products. 5. DOMESTIC Crude Oil Consumption Crude oil supplies to local refineries were 80,473,490 barrels. A total of 78,002,000 barrels was processed for local consumption. PPMC Evacuated 9,374,296 metric tons (68,713,589 barrels) of petroleum products from the refineries imported about 1,666,952 metric tons (12,218,758 barrels) in to the country. Hence a total of 11,041,248 metric tons of petroleum products were available 221,732 barrels per day. Petroleum product delivered for local consumption through the refineries are as follows: 7

Product Metric Tons LPG 64,087 PMS 2,994,598 DPK 1,612,377 AGO 2,397,044 Fuel Oil (LPFO) 1,668,087 Fuel Oil(HPFO) 615,684 Base Oil 721 Asphalt 60,922 Petrochemicals 10,776 Total 1,666,952 Petroleum Products imported for local consumption are as follows: Product Metric Tons PMS 1,061,856 TK 419,799 AGO 185,297 Total 1,666,952 6. Natural Gas Production and Disposal Natural gas produced in association with oil during the year amounted to 1,142 Bscf. Of this, 801.8 Bscf (70.21%) was flared, while the remaining were re-jected, used as fuel, sold or converted to NGL. 8

Natural gas sales were made both by Shell Development Producing Company (SPDC) and Nigeria Gas Company (NGC), a subsidiary of NNPC. SPDC made a total sale of 110.138 Bscf amounting to 772,224 million while NGC made a total sales of 1218.403 Bscf amounting to 2.4768 billion Crude 7. Oil Exports Available oil statistic shows that crude oil exports stood at 767,949,757 barrels averaging 2,103,972 barrels per day. NNPC equity crude oil exports total 392,279,889 barrels amounting to $7,402,215,884 or 161,191,292,312. 9

1997 Seismic Activities: Table 1 Company 2-D (KM) 3-D (SQ. KM) JV COYS SHELL - 1,660 MOBIL - 500 CHEVRON - 11,646 ELF - - NAOC - 400 TEXACO - - PAN-OCEAN - - SUB - TOTAL JV Nil 14,206 PSC COYS ASHLAND OIL - - ASHLAND EXPL. - - AENR - - SNEPCO 750 - STATOIL/BP - 1,230 CONOCO - - ESSO - - NAOC (PSC) - 2,021.63 CHEVERON (PSC) - ELF (PSC) - - MOBIL (PSC) - - SUB - TOTAL PSC 750 3,251.63 GRAND TOTAL 750 17,458 10

Table 2a 1997 Rig Operations by Company: Company Total Number of Drilling Rigs Hoist Offshore Onshore Land/Swamp JV COYS SHELL 8 1-7 MOBIL 5-5 - CHEVRON 4-2 2 ELF 3-2 1 NAOC 2 - - 2 TEXACO 2-2 - PAN-OCEAN - - - - SUB - TOTAL JV 24 1 11 12 PSC COYS ASHLAND OIL - - - - ASHLAND EXPL. - - - - AENR - - - - SNEPCO 1-1 - STATOIL/BP - - - - CONOCO - - - - ESSO - - - - NAOC (PSC) - - - - CHEVERON (PSC) - - - ELF (PSC) 1-1 - MOBIL - - SUB - TOTAL PSC 2-2 0 TOTAL 26 1 13 12 11

Table 2b 1997 Drilling Summary by Company: Company Exploratory/ Completion Appraisal Development Work over JV COYS SHELL 1-16 12 MOBIL 3 10 49 - CHEVRON 2-25 5 ELF 1-4 - NAOC 1-1 9 TEXACO - 2 6 - PAN-OCEAN - - - 2 SUB - TOTAL JV 8 12 101 28 PSC COYS ASHLAND OIL - - - - ASHLAND EXPL. - 1 - - AENR - - - - SNEPCO - 1 - - STATOIL/BP 1 - - - CONOCO - - - - ESSO - - - - NAOC (PSC) - - - - CHEVERON (PSC) - - - - ELF (PSC) 2 - - - MOBIL 1 - - - SUB - TOTAL PSC 4 2 0 0 TOTAL 12 14 101 28 12

List of Indigenous License Holders, As at December 31, 1996 Table 2c S/NO. NAME OF COMPANY LICENSE AWARD DATE 1 Dubri Oil OML 96 August,1987 2 Queens Petroleum OPL 135 November,1990 3 Cavendish Petroleum OPL 453 " " 4 Consolidate Oil OPL 113 " " 5 Express Oil & Gas OPL 74 " " 6 Summit Oil International OPLs 205 &206 " " 7 International Petrol Energy Co. (IPEC) OPLs229 & 202 " " 8 Paclantic Oil Co. OPL 204 " " 9 Inko Petroleum (Now Oriental Energy) OPL 224 " " 10 Ultramar Energy OPL 227 " " 11 Solgas (Nig.)Ltd. OPL 226 February, 1991 12 Atlas Petroleum OPL 75 " " 13 Supra Investment (Now Amalgamated OPLs 203 & 452 May/June, 1991 14 Union Square Petrogas OPL 201 " " 15 Seagull OPL 467 " " 16 Moncrief Oil International OPL471 " " 17 Yinka Folawiyo Petroleum OPL 309 " " 18 Alfred James Petroleum OPL 302 " " 19 General Oil OPL 304 " " 20 Allied Energy Resources OPL 210 June, 1992 21 Noreast Petroleum OPL 215 " " 22 AMNI Petroleum Dev.,Co. OPL 469 1993 23 Peak Petroleum OPL 460 1993 24 Intoil Nig. Ltd OPLs 214 & 237 1993 25 Optimum Petroleum OPL 310 " 26 Famfa Oil OPL 216 " 27 Azenith (Nig.) Ltd OPL 458 (?) " 28 Crescent Oil OPL 234 " 29 First Aries OPL 235 " 30 Asaris OPL 236 " 31 Petroleum Product Ltd OPL 233 " 32 Nyemoni Petroleum OPL 230 " 33 Sunlink Petroleum OPL 474 " 34 MLM Petroleum OPL 454 " 35 Mareena OML 12 " 36 Brass Petroleum OPL 203 " 37 Dunia Oil OPL 241 " 38 Lamont Oil OPL 207 " 13

Table 3 1997 Summary of Crude Oil Production by Companies COMPANY PRODUCTION bbls m 3 DAILY AVG. (BARREL) % OF TOTAL PRODUCTION NPDC 1,725,924 232,918 4,729 0.20 JV: SHELL 328,118,620 44,280,516 898,955 38.34 MOBIL 230,889,049 31,159,116 632,573 26.98 CHEVRON 152,906,246 20,635,121 418,921 17.87 ELF 43,401,134 5,857,103 118,907 5.07 NAOC 54,177,629 7,311,421 148,432 6.33 TEXACO 28,447,721 3,839,099 77,939 3.32 Sub - Total 837,940,399 113,082,375 2,295,727 97.92 PSC: PAN-OCEAN 1,269,480 171,320 3,478 0.15 ASHLAND OIL 5,830,837 786,888 15,975 0.68 AENR 3,737,105 504,333 10,239 0.44 DUBRI 283,533 38,264 777 0.03 CONOCO 2,949,549 398,050 8,081 0.34 AMNI 1,999,460 269,833 5,478 0.23 Sub - Total 16,069,964 2,168,686 44,027 1.88 GRAND- TOTAL 855,736,287 115,483,979 2,344,483 100.00 14

Table 4 Monthly Crude Oil Production by Stream: 1997 CRUDE STREAM MONTH Forcados Blend Bonny Light Bonny Medium Brass Blend Escravos Light Pennington Light Antan Blend Odudu Blend IMA Qua- Iboe Light Oso Condensate Other Condensate Total JANUARY 15,378,897 15,807,420 2,046,852 4,776,377 10,584,634 2,622,227 306,348 2,172,349-15,155,368 3,145,601 745,413 72,741,486 FEBRUARY 13,360,521 13,977,742 2,129,377 4,180,082 9,470,659 2,325,927 286,211 1,975,966-14,527,958 2,777,301 642,657 65,654,401 MARCH 13,425,674 14,111,637 2,257,063 4,732,086 11,410,513 2,489,690 304,932 1,734,632-15,866,728 3,077,971 824,049 70,234,975 APRIL 13,973,689 15,185,499 1,585,460 4,450,843 11,250,022 2,380,005 305,102 2,710,288-16,050,461 2,187,736 823,772 70,902,877 MAY 14,564,304 744,203 15,560,438 5,726,892 11,166,529 2,371,924 288,992 1,399,784-16,587,199 3,308,161 860,221 72,578,647 JUNE 14,373,929 14,077,838 2,144,812 4,654,086 11,178,903 2,924,418 233,975 2,136,750-15,910,377 3,086,227 743,505 71,464,820 JULY 14,192,540 12,363,553 2,150,252 5,608,304 11,671,445 2,248,013 262,854 2,229,801-16,757,915 2,677,424 796,694 70,958,795 AUGUST 14,831,508 13,690,167 1,460,907 5,713,879 11,767,181 2,270,774 266,759 2,203,623-17,512,735 733,639 783,743 71,234,915 SEPTEMBER 14,566,878 11,836,869 2,417,627 5,621,812 11,464,664 2,242,064 183,510 2,152,400 602,388 17,620,305 2,859,827 760,694 72,329,038 OCTOBER 14,198,483 12,698,587 2,541,256 5,735,673 12,380,071 2,026,442 261,197 2,110,830 517,397 18,270,407 2,734,730 1,213,920 74,688,993 NOVEMBER 13,569,819 11,185,195 2,591,240 5,533,769 11,883,293 2,272,185 258,807 1,865,621 619,923 17,745,174 2,287,578 1,423,200 71,235,804 DECEMBER 12,008,278 12,243,252 2,658,870 5,924,756 12,319,523 2,274,052 262,541 2,272,491 259,752 17,474,210 2,534,017 1,479,794 71,711,536 GRAND TOTAL 168,444,520 147,921,962 39,544,154 62,658,559 136,547,437 28,447,721 3,221,228 24,964,535 1,999,460 199,478,837 31,410,212 11,097,662 855,736,287 15

Table 5 Monthly Crude Oil Production by Company: 1997 MONTH COMPANY January February March April May June July August September October November December Total NPDC 119,753 104,600 106,251 98,670 98,875 120,070 119,553 121,710 190,525 204,104 211,617 215,043 1,710,771 JVC SHELL 29,835,838 26,478,154 26,667,567 27,684,633 28,908,984 27,685,491 26,472,297 28,247,372 26,834,809 27,799,109 26,017,965 25,486,401 328,118,620 MOBIL 18,300,969 17,305,259 18,944,699 18,238,197 19,895,360 18,996,604 19,435,339 18,246,374 20,480,132 21,005,137 20,032,752 20,008,227 230,889,049 CHEVRON 11,948,263 10,666,002 12,788,237 12,617,377 12,653,154 12,573,669 13,023,524 13,063,657 12,810,793 13,762,708 13,214,803 13,784,059 152,906,246 ELF 3,872,388 3,438,781 3,286,656 4,252,579 2,895,976 3,748,272 3,980,499 3,491,949 3,621,558 3,655,422 3,346,332 3,810,722 43,401,134 NAOC 4,708,166 4,134,193 4,675,737 4,416,109 4,570,858 4,310,884 4,530,751 4,615,580 4,492,050 4,586,639 4,437,944 4,698,718 54,177,629 TEXACO 2,622,227 2,325,927 2,489,690 2,380,005 2,371,924 2,924,418 2,248,013 2,270,774 2,242,064 2,026,442 2,272,185 2,274,052 28,447,721 PSC COMPANIES PAN - OCEAN 75,202 63,037 75,167 79,159 88,318 93,626 122,017 127,573 132,951 134,253 132,268 145,909 1,269,480 ASHLAND 533,810 499,296 535,526 527,082 512,887 446,090 482,534 493,228 398,016 477,652 456,892 467,824 5,830,837 AENR 326,584 278,795 320,608 309,576 320,464 314,343 298,374 323,253 310,569 316,903 301,323 316,313 3,737,105 DUBRI 30,648 27,702 34,533 28,849 9,231 20,528 23,302 24,228 23,392 17,923 22,574 20,623 283,533 CONOCO 367,638 317,502 310,304 270,641 252,616 230,825 222,592 209,217 189,791 185,304 169,226 223,893 2,949,549 AMNI - - - - - - - - 602,388 517,397 619,923 259,752 1,999,460 GRAND TOTAL 72,741,486 65,639,248 70,234,975 70,902,877 72,578,647 71,464,820 70,958,795 71,234,915 72,329,038 74,688,993 71,235,804 71,711,536 855,721,134 16

Table 6 Crude Oil Production by Company, Crude Stream - 1997 CRUDE STREAM COMPANY Forcados Blend Bonny Light Bonny Medium Brass Blend Escravos Light Pennington Light Antan Blend Odudu Blend IMA Qua- Iboe Light Oso Condensate Other Condensate Total NPDC 1,725,924 - - - - - - - - - - - 1,725,924 JVC SHELL 159,977,404 139,623,271 26,693,402 - - - - - - - - 1,824,543 328,118,620 MOBIL - - - - - - - - - 199,478,837 31,410,212-230,889,049 CHEVRON 411,886 8,298,691-10,881,314 133,314,355 - - - - - - - 152,906,246 ELF 5,585,847-12,850,752 - - - - 24,964,535 - - - 43,401,134 NAOC 743,459 - - 45,430,531 - - - - - - - 8,003,639 54,177,629 TEXACO - - - - - 28,447,721 - - - - - - 28,447,721 PSC COMPANIES PAN - OCEAN - - - - - - - - - - - 1,269,480 1,269,480 ASHLAND - - - 2,609,609 - - 3,221,228 - - - - - 5,830,837 AENR - - - 3,737,105 - - - - - - - - 3,737,105 DUBRI - - - - 283,533 - - - - - - - 283,533 PHILLIP 0 CONOCO - - - - 2,949,549 - - - - - - - 2,949,549 AMNI - - - - - - - - 1,999,460 - - - 1,999,460 GRAND TOTAL 168,444,520 147,921,962 39,544,154 62,658,559 136,547,437 28,447,721 3,221,228 24,964,535 1,999,460 199,478,837 31,410,212 11,097,662 855,736,287 17

Table 7 Nigerian Crude Oil Exports by Companies - 1997 COMPANY (Barrels) NNPC LIFTINGS COMPANY LIFTINGS TOTAL LIFTINGS NPDC 1,749,095-1,749,095 JVC : SHELL 137,565,643 141,900,846 279,466,489 MOBIL 137,802,321 90,678,674 228,480,995 CHEVRON 51,443,231 60,658,835 112,102,066 ELF 24,727,488 20,155,653 44,883,141 NAOC 32,250,337 21,144,645 53,394,982 TEXACO 16,277,719 9,969,430 26,247,149 Sub - Total 400,066,739 344,508,083 744,574,822 PSC : PAN-OCEAN 588,939 312,041 900,980 ASHLAND OIL 2,347,343 2,638,883 4,986,226 AENR 1,053,192 700,000 1,753,192 PHILLIPS - 6,557,470 6,557,470 CONSOLIDATED - 2,917,599 2,917,599 DUBRI 610,000 271,463 881,463 CONOCO 660,568 1,490,975 2,151,543 AMNI - 1,477,367 1,477,367 Sub - Total 5,260,042 16,365,798 21,625,840 GRAND-TOTAL 407,075,876 360,873,881 767,949,757 JVC 45% 1997 CRUDE OIL EXPORTS PSC 2% NNPC 53% 18

Table 8 Nigeria Crude Oil Exports by Destination - 1997 REGION / COUNTRY QUANTITY (bbls) NORTH AMERICA: Canada 8,490,080 U.S.A 323,518,259 Sub-Total 332,008,339 SOUTH AMERICA: Argentina 1,549,844 Brazil 26,338,418 Chile 5,671,708 Sub-Total 33,559,970 EUROPE: Germany 13,169,585 France 49,444,313 Italy 47,043,388 Netherlands 15,749,449 Portugal 21,375,547 Spain 62,983,845 Sweden 1,038,785 United Kingdom 1,907,895 Sub-Total 212,712,807 ASIA & FAR EAST: Australia 1,160,582 Japan 7,244,000 Singapore 7,301,338 India 55,902,715 Indonesia 5,506,343 Korea 43,447,305 China 912,267 Taiwan 14,243,530 Sub-Total 135,718,080 AFRICA: Ghana 1,968,170 Ivory Coast 19,721,181 Senegal 4,991,786 Morocco 9,350,768 Cameroun 4,891,443 South Africa 11,208,570 Sub-Total 52,131,918 Others 1,818,643 GRAND-TOTAL 767,949,757 mbbls 350 300 250 200 150 100-50 1997 Crude Oil Export by Destination NORTH SOUTH AMERICA AMERICA EUROPE ASIA & FAR EAST Region AFRICA OTHERS 19

Analysis of Crude Oil Production and Exports By Companies for the Year 1997 Table 9 COMPANY PRODUCTION EXPORTS VARIANCE NPDC 1,725,924 1,749,095 (23,171) JVC : SHELL 328,118,620 279,466,489 48,652,131 MOBIL 230,889,049 228,480,995 2,408,054 CHEVRON 152,906,246 112,102,066 40,804,180 ELF 43,401,134 44,883,141 (1,482,007) NAOC 54,177,629 53,394,982 782,647 TEXACO 28,447,721 26,247,149 2,200,572 Sub - Total 837,940,399 744,574,822 1,582,515,221 PSC : PAN-OCEAN 1,269,480 900,980 368,500 ASHLAND OIL 5,830,837 4,986,226 844,611 AENR 3,737,105 1,753,192 1,983,913 PHILLIPS - 6,557,470 (6,557,470) CONSOLIDATED - 2,917,599 (2,917,599) DUBRI 283,533 881,463 (597,930) CONOCO 2,949,549 2,151,543 798,006 AMNI 1,999,460 1,477,367 522,093 Sub - Total 16,069,964 21,625,840 (5,555,876) GRAND-TOTAL 855,736,287 767,949,757 1,576,936,174 20

Table 10 Federation Equity Crude Oil Exports and Revenue by types For the year 1997 Crude type Quantity (bbls) Proceeds $ N Forcados Blend 89,303,968 1,678,734,827 36,556,297,466 Qua-Iboe Light 132,823,085 2,501,457,428 54,471,987,098 Bonny Light 58,278,822 1,111,372,775 24,201,364,686 Bonny Medium 16,283,678 305,237,727 6,646,887,267 Pennington Light 16,294,993 315,419,299 6,868,602,197 Escravos Light 30,393,817 567,462,075 12,357,110,891 Brass Blend 35,248,359 667,716,480 14,540,260,840 Odudu Blend 12,736,274 238,496,233 5,193,517,819 Oso 916,903 16,319,040 355,365,047 Total 392,279,899 7,402,215,884 161,191,393,312 21

Total Crude Oil Revenue Flow January - December 1997 (US$ million) TABLE 11 Month NNPC Joint Venture Total PPT ROYALTIES OTHERS January 765.78 319.18 120.41 14.99 1,220.36 February 781.30 356.37 156.31 7.00 1,300.98 March 490.13 391.60 130.49 11.13 1,023.35 April 700.35 167.94 138.97 9.05 1,016.31 May 601.23 184.53 123.98 6.37 916.11 June 676.04 226.08 109.67 25.34 1,037.13 July 589.95 200.00 103.32 17.63 910.90 August 676.60 204.36 104.01 7.32 992.29 September 546.54 164.45 85.27 16.96 813.22 October 582.79 192.09 83.59 11.09 869.56 November 520.30 266.35 123.15 18.60 928.40 December 645.71 341.27 174.16 8.26 1,169.40 TOTAL 7,576.72 3,014.22 1,453.33 153.74 12,198.01 22

TABLE 12 Nigerian Crude Oil Realisable Prices For the year 1997 CRUDE STREAM\ MONTH Forcados Blend Bonny Light Bonny Medium Brass Blend Escravos Light Pennington Light Antan Blend Qua- Iboe Light Oso Condensate JANUARY 24.2935 24.1513 23.4031 24.2131 24.0431 24.2831 22.9935 24.0781 23.5367 FEBRUARY 20.8775 21.6275 21.6096 21.6875 21.5175 21.7575 20.3096 21.5525 20.9480 MARCH 18.8886 19.1907 18.4407 19.2507 19.1057 19.3207 17.5886 19.1607 19.0382 APRIL 17.0586 17.4450 16.4979 17.5050 17.3600 17.5750 15.7586 17.4150 18.0730 MAY 18.6146 18.9436 18.1936 19.0036 18.8586 19.0736 17.3146 18.9136 18.6295 JUNE 17.4885 17.5937 16.6843 17.7537 17.5087 17.7237 16.1885 17.5637 17.5083 JULY 18.2321 18.4121 17.6621 18.4721 18.3271 18.5421 16.9321 18.3821 18.0403 AUGUST 19.3007 19.3418 18.1918 19.4018 19.2568 19.4718 18.0007 19.3118 19.4237 SEPTEMBER 18.1440 18.1198 17.3507 18.1798 18.0348 18.2498 16.8440 18.0898 18.0343 OCTOBER 20.0243 20.0304 19.2804 20.0904 19.9204 20.1604 18.7243 19.9554 19.6131 NOVEMBER 19.0100 19.0107 18.2607 19.0707 18.9257 19.1407 17.7100 18.9807 18.9864 DECEMBER 17.1803 17.1983 16.4483 17.2583 17.1133 17.3283 15.8803 17.1683 16.8226 AVERAGE 19.0927 19.2554 18.5019 19.3239 19.1643 19.3856 17.8537 19.2143 19.0545 23

TABLE 13 Average Spot Prices of OPEC Reference Basket and some selected Crudes. For the year 1997 CRUDE STREAM MONTH OPEC Basket Brent WTI Bonny Light Munias Saharan Blend Arabian Light Dubai Tia Juana Light Isthmus JANUARY 23.1900 23.4100 25.1500 24.0400 25.0400 24.1800 22.5800 21.3500 21.9100 23.2100 FEBRUARY 20.4900 21.0100 22.4000 21.6500 21.6900 21.8000 20.0300 18.8400 19.1300 20.2900 MARCH 18.6400 19.1100 20.9800 19.3900 18.9100 19.6600 19.1100 18.0900 16.9900 18.3500 APRIL 17.4600 17.5500 19.8400 17.8200 18.4100 17.9500 17.8700 16.7700 16.0700 17.3200 MAY 18.7600 19.1300 20.9500 19.6000 18.8300 19.6500 19.3500 18.6000 17.0200 18.2900 JUNE 17.3700 17.6100 19.3300 17.9500 17.9300 18.0900 17.9500 17.3400 15.8400 16.5300 JULY 17.8600 18.5100 19.6500 18.9500 18.0400 19.0100 17.8500 17.3800 16.4900 17.2800 AUGUST 18.0700 18.6900 19.9600 19.0400 18.1500 19.2600 17.7900 17.7400 16.8100 17.7100 SEPTEMBER 18.1600 18.5800 19.8900 18.8900 17.9600 19.1900 18.2100 18.0500 17.0800 17.7700 OCTOBER 19.5400 19.8800 21.2500 19.9800 20.1600 20.3600 19.4200 19.2000 18.6200 19.0400 NOVEMBER 18.8400 19.2400 20.1900 19.3600 19.6600 19.8000 18.8100 18.5800 17.7800 17.9200 DECEMBER 16.8400 17.1400 18.2900 17.3400 17.5900 17.7000 16.5800 16.3000 16.9600 16.4100 AVERAGE 18.7683 19.1550 20.6567 19.5008 19.3642 19.7208 18.7958 18.1867 17.5583 18.3433 24

Table 14 Nigerian Natural Gas Production and Utilisation by Company (mscf) At the end of 1997 COMPANY GAS PRODUCED GAS USED AS FUEL GAS LIFT GAS RE-INJECTED GAS SOLD GAS TO EPCL NGL GAS FLARED NPDC 0 0 0 JV: SHELL 343,206,747 8,340,757-1,639,850 99,678,760 - - 222,012,870 MOBIL 181,314,206 8,583,816 13,205,430 54,545,088 - - 1,720,464 116,464,838 CHEVRON 193,802,281 8,514,546 - - 6,461,190-1,860,660 176,965,885 ELF 35,649,164 1,755,444 10,444,689 - - - - 33,893,720 NAOC 281,750,747 23,432,088-96,785,893-5,845,302 4,996,973 150,690,491 TEXACO 44,915,191 - - - - - - 44,769,805 SUB - TOTAL 1,080,638,336 50,626,651 23,650,119 152,970,831 106,139,950 5,845,302 8,578,097 744,797,609 PSC: QUANTITY (m scf) 1.2 0.8 0.6 0.4 1997 NIGERIAN GAS PRODUCTION AND UTILIZATION (mscf) 1 PAN-OCEAN 17,411,661 - - - - - - 16,575,734 ASHLAND OIL 35,933,203 1,121,999 2,251,982 2,251,982 - - - 32,559,222 AENR 7,984,075 - - - - - - 7,913,965 SUB - TOTAL 61,328,939 1,121,999 2,251,982 2,251,982 - - - 57,048,921 GRAND-TOTAL 1,141,967,275 51,748,650 155,222,813 155,222,813 106,139,950 5,845,302 8,578,097 801,846,530 0.2 0 PRODUCED UTILISED FLARED 25

1997 Shell Gas Sales Statistics Table 15 Customer Volume (scf) Proceeds (=N=) Aba Textile Mills 32,588,725.00 4,780,091.40 Delta Glass Company 896,959,341.00 132,696,164.90 INT. Equitable Assoc., ABA 148,531,112.00 21,733,345.11 Lever Brothers, ABA 127,879,985.00 20,586,583.31 Nigerian Breweries 47,968,396.00 7,493,986.44 NEPA, AFAM 3,458,117,722.00 31,934,862.61 NEPA, Ughelli 4,399,502,465.00 39,507,532.14 NNPC - NAFCON 13,780,924,487.00 68,631,157.62 NGC - ALSCON 5,021,397,253.00 80,853,063.56 NNPC - NEPA, Sepele(OBEN) 18,313,120,930.00 54,815,322.06 NGC - NEPA, Sapele 5,825,664,161.00 18,292,585.46 NNPC - NGC, Benin City 56,409,687,923.00 170,229,012.89 PZ Industries LTD., ABA 335,249,314.00 49,167,348.96 Rivers State Utility Board 720,209,740.00 69,581,520.91 RSUB Imiringi 620,151,391.00 1,921,203.37 Grand Total 110,137,952,945.00 772,223,780.74 Note: NNPC (55.00%), SHELL (30.00%), ELF (10.00%) & AGIP (5.00%). 26

Table 16 1997 NGC Gas Sales Statistics Buyer Volume (bscf) Proceeds (=N= million) Alscon Ikot Abasi 4.160 170.571 ASCL Ajaokuta - 0.004 DSCL Aladja 0.009 0.078 Igil Aba 0.185 25.403 NAFCON Onne 13.901 178.347 NEPA, Afam IV 2.904 26.078 NEPA, Delta IV 14.615 131.245 NEPA, Egbin 59.611 535.310 NEPA, Sapele 20.305 182.339 WAPCO Ewokoro 3.176 464.040 WAPCO Shagamu 5.708 719.264 WRPC, Warri 3.829 34.882 Grand Total 128.403 2,467.561 27

Nigerian Crude Oil Reserves and Production Ratio 1961-1997 (Barrels) Table 17 Year Reserve(million) Production('000) R/P 1961 300 16,802 17.9 1962 400 24,624 16.2 1963 500 27,913 17.9 1964 1,000 43,997 22.7 1965 3,000 99,354 30.2 1966 3,500 152,428 23.0 1967 3,550 116,553 30.5 1968 4,000 51,907 77.1 1969 5,000 197,204 25.4 1970 9,300 395,836 23.5 1971 11,680 558,879 20.9 1972 15,000 665,283 22.5 1973 20,000 750,452 26.7 1974 20,900 823,321 25.4 1975 20,200 651,509 31.0 1976 19,445 758,058 25.7 1977 18,700 766,054 24.4 1978 18,200 692,269 26.3 1979 17,400 841,227 20.7 1980 16,700 752,223 22.2 1981 16,500 525,501 31.4 1982 16,750 470,687 35.6 1983 16,550 450,975 36.7 1984 16,650 507,999 32.8 1985 16,600 547,090 30.3 1986 16,066 535,297 30.0 1987 15,980 482,886 33.1 1988 16,000 490,440 32.6 1989 16,000 626,450 25.5 1990 17,100 630,246 27.1 1991 20,000 690,982 28.9 1992 20,991 716,262 29.3 1993 20,991 695,398 30.2 1994 20,991 664,629 31.6 1995 20,828 672,549 31.0 1996 20,828 681,895 30.5 * 1997 22,000 855,001 25.7 * Provisional 28

Nigerian Crude Oil Production and Exports 1961-1997 (Barrels) Table 18 Production Exports Year Total Production Daily Average Total Exports Daily Average 1961 16,801,896 46,033 16,505,985 45,222 1962 24,623,691 67,462 24,697,969 67,666 1963 27,913,479 76,475 27,701,320 75,894 1964 43,996,895 120,210 43,431,563 118,665 1965 99,353,794 272,202 96,984,975 265,712 1966 152,428,168 417,611 139,549,969 382,329 1967 116,553,292 319,324 109,274,902 299,383 1968 51,907,304 141,823 52,129,858 142,431 1969 197,204,486 540,286 197,245,641 540,399 1970 395,835,825 1,084,482 383,446,359 1,050,538 1971 558,878,882 1,531,175 542,545,131 1,486,425 1972 665,283,111 1,817,713 650,640,779 1,777,707 1973 750,452,286 2,056,034 725,017,584 1,986,350 1974 823,320,724 2,255,673 795,710,044 2,180,028 1975 651,509,039 1,784,956 627,638,981 1,719,559 1976 758,058,376 2,071,198 736,822,998 2,013,178 1977 766,053,944 2,098,778 744,413,355 2,039,489 1978 692,269,111 1,896,628 667,357,065 1,828,376 1979 841,226,770 2,304,731 818,726,943 2,243,088 1980 752,223,285 2,055,255 700,138,614 1,912,947 1981 525,500,562 1,439,728 447,814,027 1,226,888 1982 470,687,221 1,289,554 366,410,179 1,003,864 1983 450,974,545 1,235,547 341,360,910 935,235 1984 507,998,997 1,387,975 400,428,085 1,094,066 1985 547,089,595 1,498,876 453,758,591 1,243,174 1986 535,296,671 1,466,566 445,673,729 1,221,024 1987 482,886,071 1,322,976 388,815,449 1,065,248 1988 490,440,000 1,340,000 406,443,000 1,110,500 1989 626,449,500 1,716,300 556,953,500 1,525,900 1990 630,245,500 1,726,700 565,750,000 1,550,000 1991 690,981,500 1,893,100 587,650,000 1,610,000 1992 716,262,000 1,957,000 580,110,000 1,585,000 1993 695,398,000 1,905,200 568,305,000 1,557,000 1994 664,628,500 1,820,900 580,350,000 1,590,000 1995 672,549,000 1,842,600 607,725,000 1,665,000 1996 681,894,600 1,863,100 620,135,000 1,694,358 1997 855,736,287 2,344,483 767,949,757 2,103,972 Grand Total 18,630,912,907 51,008,654 16,785,612,262 45,956,612 Source: OPEC Bulletin 29

Table 19 Crude Oil Production in OPEC Member Countries 1961-1996 (Thousand Barrels Per Day) Year Algeria Ecuador Gabon Indonesia I.R. of Iran Iraq Kuwait S.P. Libyan A.J. Nigeria Qatar Suadi Arabia Unt. Arab Emirates Venezuela Total 1961 330.9 8 14.9 424.3 1,202.20 1,007.10 1,735.00 18.2 46 117.2 1,480.10-2,919.90 9,303.80 1962 436.9 7 16.4 453.4 1,334.50 1,009.20 1,957.80 182.3 67.5 186.2 1,642.90 14.2 3,199.80 10,508.10 1963 504.3 6.8 17.7 444 1,491.30 1,161.90 2,096.30 441.8 76.5 191.5 1,786.00 48.2 3,247.90 11,514.20 1964 554.8 7.6 21 456.6 1,710.70 1,255.20 2,301.00 862.4 120.2 215.3 1,896.50 186.8 3,392.80 12,980.90 1965 557.7 7.8 24.9 480.6 1,908.30 1,312.60 2,360.30 1,218.80 274.2 232.6 2,205.30 282.2 3,472.90 14,338.20 1966 718.7 7.3 28.6 464.6 2,131.80 1,392.20 2,484.10 1,501.10 417.6 291.3 2,601.80 360 3,371.10 15,770.20 1967 825.7 6.2 69 505.4 2,603.20 1,228.10 2,499.80 1,740.50 319.1 323.6 2,805.00 382.1 3,542.10 16,849.80 1968 904.2 5 91.9 600.7 2,839.80 1,503.30 2,613.50 2,602.10 141.3 339.5 3,042.90 496.6 3,604.80 18,785.60 1969 946.4 4.4 99.8 742.3 3,375.80 1,521.20 2,773.40 3,109.10 540.3 355.5 3,216.20 627.8 3,594.10 20,906.30 1970 1,029.10 4.1 108.8 853.6 3,829.00 1,548.60 2,989.60 3,318.00 1,083.10 362.4 3,799.10 779.6 3,708.00 23,413.00 1971 785.4 3.7 114.6 892.1 4,539.50 1,694.10 3,196.70 2,760.80 1,531.20 430.7 4,768.90 1,059.50 3,549.10 25,326.30 1972 1,062.30 78.1 125.2 1,080.80 5,023.10 1,465.50 3,283.00 2,239.40 1,815.70 482.4 6,016.30 1,202.70 3,219.90 27,094.40 1973 1,097.30 208.8 150.2 1,338.50 5,860.90 2,018.10 3,020.40 2,174.90 2,054.30 570.3 7,596.20 1,532.60 3,366.00 30,988.50 1974 1,008.60 177 201.5 1,374.50 6,021.60 1,970.60 2,546.10 1,521.30 2,255.00 518.4 8,479.70 1,678.60 2,976.30 30,729.20 1975 982.6 160.9 223 1,306.50 5,350.10 2,261.70 2,084.20 1,479.80 1,783.20 437.6 7,075.40 1,663.80 2,346.20 27,155.00 1976 1,075.10 187.9 222.8 1,503.60 5,882.90 2,415.40 2,145.40 1,932.60 2,066.80 497.3 8,577.20 1,936.40 2,294.40 30,737.80 1977 1,152.30 183.4 222 1,686.20 5,662.80 2,348.20 1,969.00 2,063.40 2,085.10 444.6 9,199.90 1,998.70 2,237.90 31,253.50 1978 1,161.20 201.8 208.7 1,635.20 5,241.70 2,562.00 2,131.40 1,982.50 1,897.00 486.7 8,301.10 1,830.50 2,165.50 29,805.30 1979 1,153.80 214.2 203.4 1,590.80 3,167.90 3,167.90 2,500.30 2,091.70 2,302.00 508.1 9,532.60 1,830.70 2,356.40 30,619.80 1980 1,019.90 204.1 174.5 1,575.70 1,467.30 2,646.40 1,663.70 1,831.60 2,058.00 471.4 9,900.50 1,701.90 2,165.00 26,880.00 1981 797.8 211 151.4 1,604.20 1,315.90 897.4 1,129.70 1,217.80 1,439.60 415.2 9,808.00 1,502.30 2,108.30 22,598.60 1982 704.5 198.3 155.1 1,324.80 2,391.30 1,012.10 824.3 1,136.00 1,287.00 332 6,483.00 1,248.80 1,895.00 18,992.20 1983 660.9 237.5 155.4 1,245.30 2,441.70 1,098.80 1,054.10 1,104.90 1,235.50 269 4,539.40 1,149.00 1,800.80 16,992.30 1984 695.4 256.1 157.4 1,280.10 2,032.40 1,221.30 1,163.00 984.6 1,388.00 325.3 4,079.10 1,069.00 1,695.50 16,347.20 1985 672.4 280.6 171.7 1,181.50 2,192.30 1,404.40 936.3 1,023.70 1,498.90 290.1 3,175.00 1,056.80 1,564.00 15,447.70 1986 673.9 256.5 164.7 1,256.80 2,037.10 1,876.50 1,237.70 1,308.00 1,466.60 313.6 4,784.20 1,308.90 1,648.50 18,333.00 1987 648.2 180.9 154.5 1,158.10 2,297.60 2,358.70 971.6 972.5 1,323.00 291.4 3,975.20 1,417.70 1,575.50 17,324.90 1988 650.7 300.8 157 1,177.50 2,305.40 2,739.80 1,396.50 1,029.80 1,367.60 319.4 5,086.30 1,509.50 1,578.10 19,618.40 1989 727.3 278.9 204.3 1,231.00 2,814.10 2,785.80 1,463.50 1,129.20 1,716.30 320.2 5,064.50 1,857.80 1,747.40 21,340.30 1990 785.9 - - 1,299.30 3,134.50 2,110.00 849.2 1,388.70 1,726.70 405.6 6,412.50 1,819.70 2,135.20 22,067.30 1991 803 - - 1,450.00 3,398.90 285.8 190.1 1,403.20 1,893.10 391.2 8,117.80 2,093.90 2,286.20 22,313.20 1992 756.5 - - 1,347.70 3,431.60 526.2 1,057.20 1,432.70 1,957.00 423.2 8,331.70 2,240.50 2,345.60 23,849.90 1993 747.3 - - 1,327.30 3,425.20 659.5 1,881.80 1,361.00 1,905.20 390.3 8,047.70 2,159.30 2,326.00 24,230.60 1994 752.5 - - 1,332.80 3,596.00 748.7 2,006.60 1,389.80 1,820.90 378.7 8,049.00 2,166.50 2,367.90 24,609.40 1995 752.5 - - 1,328.40 3,595.00 736.9 2,006.60 1,399.00 1,842.60 389.8 8,023.40 2,148.00 2,378.50 24,600.70 1996 805.7 - - 1,326.70 3,596.00 740.4 2,005.60 1,394.00 1,863.10 393.1 8,162.30 2,161.30 2,381.00 24,829.20 30

World Crude Oil Production and Exports Vis- a -Vis OPEC and Nigeria: 1961-1997 ('000 Barrels Per Day) Table 20 Production Exports Year World OPEC Nigeria World OPEC Nigeria 1961 22,343.6 9,363.8 46.0 8,150.5 7,407.6 45.2 1962 24,263.4 10,508.1 67.5 9,202.1 8,353.2 67.7 1963 25,960.1 11,514.2 76.5 10,176.9 9,250.9 75.9 1964 28,071.9 12,983.9 120.2 11,979.1 10,617.2 118.7 1965 30,201.5 14,339.2 272.2 13,276.7 11,768.3 265.7 1966 32,812.3 15,770.2 417.6 15,225.3 13,507.7 382.3 1967 35,291.9 16,849.8 319.3 16,291.7 14,239.5 299.4 1968 38,054.1 18,785.6 141.8 18,461.6 16,076.7 142.4 1969 41,246.0 20,906.3 540.3 20,975.6 18,080.0 540.4 1970 45,272.7 23,413.0 1,084.5 23,516.6 20,223.4 1,050.5 1971 47,854.7 25,326.3 1,531.2 25,480.0 22,031.7 1,486.4 1972 50,708.4 27,094.4 1,817.7 27,779.9 24,078.5 1,777.7 1973 55,478.9 30,988.5 2,056.0 31,703.9 27,547.2 1,986.4 1974 55,813.4 30,729.2 2,255.7 31,130.6 27,258.9 2,180.0 1975 52,746.1 27,155.0 1,785.0 28,521.3 24,063.9 1,719.6 1976 57,434.4 30,737.8 2,071.2 32,306.8 27,098.8 2,013.2 1977 59,985.7 31,253.5 2,098.8 32,990.0 27,322.7 2,030.2 1978 60,245.3 29,805.3 1,896.6 31,848.0 25,792.5 1,827.1 1979 62,890.8 30,928.9 2,304.7 33,433.4 26,477.5 2,210.1 1980 60,024.8 26,880.0 2,055.3 29,876.2 22,605.3 1,960.2 1981 56,183.0 22,598.6 1,439.7 25,849.5 18,319.5 1,228.4 1982 53,495.0 18,992.3 1,289.6 22,399.1 14,049.4 1,002.8 1983 52,418.0 16,992.3 1,235.5 21,168.3 12,210.7 935.2 1984 53,021.1 16,347.2 1,388.0 21,506.6 11,737.1 1,094.1 1985 52,633.1 15,447.7 1,498.9 20,632.5 10,569.5 1,333.3 1986 55,530.0 18,333.1 1,466.6 23,001.4 12,594.0 1,221.2 1987 54,958.0 17,324.8 1,323.0 22,639.9 11,797.6 1,065.2 1988 57,349.5 19,618.5 1,340.0 24,314.8 13,032.9 1,110.5 1989 58,206.0 21,340.3 1,716.3 25,884.4 14,875.9 1,525.9 1990 59,496.9 22,067.2 1,726.7 27,262.5 16,050.9 1,550.0 1991 59,124.1 22,313.1 1,893.1 27,870.2 16,956.7 1,610.0 1992 59,709.1 23,849.9 1,957.0 29,078.1 17,413.9 1,585.0 1993 59,349.9 24,230.5 1,905.2 30,396.2 17,899.6 1,557.0 1994 59,999.6 24,609.4 1,820.9 31,412.6 18,017.9 1,590.0 1995 60,416.8 24,600.8 1,842.6 32,244.1 18,084.3 1,665.0 1996 61,619.0 24,769.2 1,863.1 33,245.1 18,288.0 1,699.0 1997 65,443.0 25,384.0 1,877.0 38,070.0 25,636.0 2,104.0 Grand Total 1,865,652.1 804,151.9 50,541.3 909,301.5 651,335.4 46,055.7 31

Table 21 OPEC & Nigeria: % Contribution to World Crude Oil Production and Exports 1961-1997 ('000 Barrels Per Day) Production Exports Year OPEC Nigeria Nigeria OPEC Nigeria 1961 41.9 46.0 0.2 90.9 0.6 1962 43.3 67.5 0.3 90.8 0.7 1963 44.4 76.5 0.3 90.9 0.7 1964 46.3 120.2 0.4 88.6 1.0 1965 47.5 272.2 0.9 88.6 2.0 1966 48.1 417.6 1.3 88.7 2.5 1967 47.7 319.3 0.9 87.4 1.8 1968 49.4 141.8 0.4 87.1 0.8 1969 50.7 540.3 1.3 86.2 2.6 1970 51.7 1,084.5 2.4 86.0 4.5 1971 52.9 1,531.2 3.2 86.5 5.8 1972 53.4 1,817.7 3.6 86.7 6.4 1973 55.9 2,056.0 3.7 86.9 6.3 1974 55.1 2,255.7 4.0 87.6 7.0 1975 51.5 1,785.0 3.4 84.4 6.0 1976 53.5 2,071.2 3.6 83.9 6.2 1977 52.1 2,098.8 3.5 82.8 6.2 1978 49.5 1,896.6 3.1 81.0 5.7 1979 49.2 2,304.7 3.7 79.2 6.6 1980 44.8 2,055.3 3.4 75.7 6.6 1981 40.2 1,439.7 2.6 70.9 4.8 1982 35.5 1,289.6 2.4 62.7 4.5 1983 32.4 1,235.5 2.4 57.7 4.4 1984 30.8 1,388.0 2.6 54.6 5.1 1985 29.3 1,498.9 2.8 51.2 6.5 1986 33.0 1,466.6 2.6 54.8 5.3 1987 31.5 1,323.0 2.4 52.1 4.7 1988 34.2 1,340.0 2.3 53.6 4.6 1989 36.7 1,716.3 2.9 57.5 5.9 1990 37.1 1,726.7 2.9 58.9 5.7 1991 37.7 1,893.1 3.2 60.8 5.8 1992 39.9 1,957.0 3.3 59.9 5.5 1993 40.8 1,905.2 3.2 58.9 5.1 1994 41.0 1,820.9 3.0 57.4 5.1 1995 40.7 1,842.6 3.0 56.1 5.2 1996 40.2 1,863.1 3.0 55.0 5.1 1997 38.8 1,877.0 2.9 67.3 5.5 32

Table 22 Nigerian Natural Gas Production and Disposal 1961-1997 (Million Cubic Metres) Year Gas Produced Gas Utilised Gas Flared 1961 310 N/A N/A 1962 486 N/A N/A 1963 626 N/A N/A 1964 1,029 N/A N/A 1965 2,849 116 2,733 1966 2,908 216 2,692 1967 2,634 102 2,532 1968 1,462 151 1,311 1969 4,126 64 4,062 1970 8,068 111 7,957 1971 12,996 206 12,790 1972 17,122 274 16,848 1973 21,882 395 21,487 1974 27,170 394 26,776 1975 18,656 323 18,333 1976 21,274 657 20,617 1977 21,815 863 20,952 1978 20,486 1,046 19,440 1979 27,450 1,378 26,073 1980 24,551 2,337 22,214 1981 17,113 3,643 13,470 1982 15,382 3,442 11,940 1983 15,192 3,244 11,948 1984 16,251 3,438 12,813 1985 18,569 4,647 13,922 1986 18,738 4,821 13,917 1987 17,170 4,976 12,194 1988 20,250 5,510 14,740 1989 25,129 6,303 18,784 1990 28,430 6,020 22,410 1991 31,460 6,800 24,660 1992 32,084 7,508 24,575 1993 33,680 7,910 25,770 1994 33,680 6,770 26,910 1995 35,100 8,114 26,986 1996 35,450 8,860 26,590 1997 37,150 10,383 24,234 Grand Total 668,728 111,022 552,680 33

Refinery Crude Oil Balance For the year 1997 ( 000bbls) Opening Stock Q1 Q2 Q3 Q4 Annual Table 23 Arabia Light 2,661.96 1,681.32 2,007.14 3,131. 9,481.42 Bonny Light 5,048.94 3,890.08 4,043.98 5,166.26 18,149.26 Escravos Light 3,566.95 3,882.87 2,789.83 5,770.85 16,010.5 Forcados Blend 634.73 470.94 723. 764.02 2,592.69 Total Stock Addittions 11,912.58 9,925.21 9,563.95 14,832.13 46,233.87 Crude Oil Received Arabia Light 321.56 1,421.36 740.13 2,483.05 Bonny Light 9,098.52 10,798.94 9,811.24 9,565.75 39,274.44 Escravos Light 9,751.25 10,181.65 8,956.46 7,491.88 36,381.25 Forcados Blend 375.47 600.35 754.01 604.93 2,334.75 Total Receipts 19,546.81 23,002.3 20,261.83 17,662.56 80,473.49 Crude Oil Processed Arabia Light 594.07 1,565.74 303.41 2,463.22 Bonny Light 8,601.11 10,910.63 9,876.67 8,408.95 37,797.36 Escravos Light 9,104.13 11,040.38 7,784.26 7,548.67 35,477.44 Forcados Blend 417.26 478.57 817.81 550.34 2,263.98 Total Processed 18,716.57 23,995.32 18,782.15 16,507.95 78,002. Closing Stock Arabia Light 2,389.45 1,536.95 2,443.85 3,131. 9,501.25 Bonny Light 5,546.36 3,778.39 3,978.55 6,323.05 19,626.34 Escravos Light 4,214.07 3,024.13 3,962.03 5,714.07 16,914.3 Forcados Blend 592.94 592.72 659.2 818.61 2,663.47 Total Closing Stock 12,742.82 8,932.19 11,043.63 15,986.73 48,705.36 mbbls 25 20 15 10 5 Crude Received Vs Processed Q1 Q2 Q3 Q4 Crude Oil Received Crude Oil Processed 34

Table 24 Crude Oil Received - 1997 ( 000bbls) Crude Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Arabia Light 321.56 544.19 433.51 443.66 364.93 63.14 312.05 2,483.05 Bonny Light 3,201.01 2,403.59 3,493.93 3,405.73 3,813.78 3,579.43 3,002.09 3,247. 3,562.14 4,273.53 2,442.41 2,849.8 39,274.44 Escravos Light 3,516.01 3,101.47 3,133.78 3,069.31 3,363.8 3,748.53 3,152.97 2,967.79 2,835.7 2,267.03 2,609.76 2,615.09 36,381.25 Forcados Blend 246.44 129.03 246.11 123.43 230.81 261.33 234.59 258.08 115.47 231.46 258. 2,334.75 Total Receipts 6,717.02 5,751.49 7,078.3 7,265.34 7,734.52 8,002.44 6,781.33 6,512.52 6,967.98 6,656.03 5,283.63 5,722.9 80,473.49 Crude Oil Received - 1997 9 mbbls 8 7 6 5 4 3 2 1 Arabia Light Bonny Light Escravos Light Forcados Blend Total Receipts Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 35

Table 25 Crude Oil Processed - 1997 ( 000bbls) Crude Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Arabia Light 411.97 182.1 636.1 820.07 109.57 303.41 2,463.22 Bonny Light 3,376.76 1,894.7 3,329.65 3,551.61 3,713.97 3,645.05 2,678.54 3,601.19 3,596.93 4,179.83 1,170.03 3,059.09 37,797.36 Escravos Light 3,357.85 2,676.15 3,070.13 3,422.44 3,566.95 4,051. 3,025.33 2,547.38 2,211.56 2,331.31 2,591.55 2,625.8 35,477.44 Forcados Blend 22.19 211.37 183.7 279.55 74.87 124.15 312.57 302.04 203.2 94. 205.74 250.6 2,263.98 Total Receipts 6,756.8 5,194.19 6,765.58 7,889.7 8,175.85 7,929.77 6,319.85 6,450.61 6,011.69 6,605.14 3,967.32 5,935.49 78,002. 9 8 Crude Oil Processed - 1997 mbbls 7 6 5 4 3 2 1 Arabia Light Bonny Light Escravos Light Forcados Blend Total Processed Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 36

Refinery Production Returns: Finished Products - 1997 Table 26 (Metric Tons) Products Jan. Feb. Mar. Apr. May Jun. Jul. *Aug. *Sep. *Oct. *Nov. *Dec. Annual LPG 10,205 5,983 8,474 8,629 7,931 4,812 8,201 12,703 9,558 6,457 9,655 5,478 98,086 PMS 238,587 186,034 230,957 316,727 272,990 235,126 185,942 241,218 256,937 241,257 179,593 91,593 2,676,961 DPK 112,878 83,292 133,998 119,997 144,695 139,790 140,478 133,042 120,702 135,204 90,350 112,320 1,466,746 AGO 208,717 148,331 204,931 258,423 226,519 226,597 179,562 216,014 193,372 195,877 124,836 170,039 2,353,218 Fuel oil 382,098 184,646 210,725 190,021 245,277 335,071 254,660 177,607 164,835 189,707 135,800 139,244 2,609,691 Base Oil Asphalt 7,251 12,991 5,138 9,913 21,477 9,637 66,407 Waxes Petrochem. 2,156 310 2,622 1,437 1,725 1,290 180 9,720 Sulphur TOTAL 788,877 644,670 794,533 906,332 893,475 768,446 770,133 764,677 745,404 768,502 540,234 470,504 9,280,829 * : No Crude Oil was processed in KRPC for the months (Aug. - Dec.) as the start-up of all the processing units were put on hold. 37

Refinery Production Returns: January - December, 1997 Table 27 (a) Crude Oil ( 000bbls) K RP C P HR C W RP C T OT A L Crude Type Received Processed Received Processed Received Processed Received Processed Arabian Light 2,483.05 2,463.22 2,483.05 2,463.22 Bonny Light 39,274.44 37,797.36 39,274.44 37,797.36 Escravos Light 9,266.31 8,817.84 27,114.94 26,659.6 36,381.25 35,477.44 Forcados Blend 2,334.75 2,263.98 2,334.75 2,263.98 Total 11,749.36 11,281.06 39,274.44 37,797.36 29,449.69 28,923.57 80,473.49 78,002. (b) Finished Products ( 000bbls) K RP C P HR C W RP C T OT A L Products Actual Production Evacuation by PPMC Actual Production Evacuation by PPMC Actual Production Evacuation by PPMC Actual Production Evacuation by PPMC Mixed LPG 21,852 10,223 34,736 34,639 41,498 19,225 98,086 64,087 PMS 415,072 612,440 1,469,910 1,534,705 791,979 797,453 2,676,961 2,944,598 DPK 148,847 302,402 675,244 701,062 642,655 608,913 1,466,746 1,612,377 AGO 258,624 374,998 1,276,684 1,281,696 817,910 740,350 2,353,218 2,397,044 Fuel oil 263,150 203,028 1,304,694 1,108,100 1,041,847 972,643 2,609,691 2,283,771 (a) LPFO 263,150 203,028 1,051,515 1,010,774 432,777 454,285 1,747,442 1,668,087 (b) HPFO 253,179 97,326 609,070 518,358 862,249 615,684 Base Oil 721 721 Asphalt 66,407 60,922 66,407 60,922 Waxes Petrochem. 9,720 10,776 9,720 10,776 Sulphur TOTAL 1,183,672 1,575,510 4,761,268 4,660,202 3,335,889 3,138,584 9,280,829 9,374,296 38

Table 28 Domestic Consumption of Petroleum Products By States - 1997 Products Abia Adamawa Akwa- Ibom Anambra Bauchi Bayelsa Benue Borno ('000Litres) Cross- River Delta Ebonyi Edo Ekiti Enugu Gombe Imo Jigawa Kaduna Kano Katsina LPG. 19 1 12 294 20 4 83 27 3,344 89 1,047 51 385 11 330 14 247,269 4,893 40 Aviation Gasoline 151 821 762 2,698 Super Gasoline 57,782 37,195 15,570 55,578 41,814 38,990 72,021 58,102 146,497 1,745 120,387 2,632 66,975 9,639 67,940 7,519 221,640 147,825 18,652 Household Kerosine 17,364 12,204 5,331 23,092 17,203 68 13,581 38,785 7,062 86,821 985 63,471 419 24,943 4,266 32,791 3,451 54,374 40,816 5,479 Jet Fuel 110 153 309 93 210 534 500 4,838 1,133 1,204 28 2,245 30,982 22 Auto. Gas Oil 15,581 18,465 42,714 17,257 19,102 16,603 54,188 17,633 112,535 351 49,795 520 21,798 5,058 24,338 3,343 91,311 63,167 13,325 HPFO 99 72 14 393 552 96 3,083 438 389 33 534 741 235 LPFO 1,964 1,112 5 6,757 2,985 9,324 123 11,928 6,211 28 794 654 18,746 12,967 1,918 Lubricating Oils 431 183 353 1,085 402 32 535 13,229 1,181 3,342 1 1,830 25 855 100 409 132 3,596 2,124 378 Greases 6 5 84 174 4 9 15 17 89 66 64 1 36 231 79 15 Pet. Jelly / Waxes 61 55 8 10,911 1 18 33,110 1,256 141 Bitumen & Asphalts 5 20 Base Oils Additives Brake Fluids 53 2 10 1 35 48 2 13 17 21 43 376 17 Special Products 1 7 4 Chemicals 1,072 15 262 3 65 1 1 314 42 731 10 115 628 2 Total 94,541 69,392 64,558 104,569 79,036 100 72,982 188,775 84,742 384,592 3,173 244,433 3,675 118,172 19,075 126,590 14,459 673,983 308,558 40,224 39

Table 28Contd. Domestic Consumption of Petroleum Products By States - 1997 ('000Litres) Products Kebbi Kogi Kwara Lagos Nassarawa Niger Ogun Ondo Osun Oyo Plateau Rivers Sokoto Taraba Yobe Zamfara Abuja Independent Marketer's Liftings Total LPG. 96 53 12,408 4 882 251 107 1,244 656 2,357 24 2 2 154 276,172 Aviation Gasoline 1 35,880 509 40,822 Super Gasoline 14,216 45,424 72,842 952,777 7,667 60,486 189,458 74,605 57,734 181,522 112,232 204,745 65,405 21,369 25,461 7,952 84,211 2,544,678 5,911,286 Household Kerosine 6,262 15,115 21,312 122,369 3,176 17,263 29,867 20,240 14,583 55,416 30,944 49,863 11,478 9,403 12,083 2,600 8,239 667,210 1,549,927 Jet Fuel 23 301 134,732 84 289 31 13 232 427 3,512 101 42 182,148 Auto. Gas Oil 4,931 44,066 16,600 324,633 1,359 23,242 40,371 22,335 9,917 66,417 41,450 172,037 21,636 5,270 17,344 4,070 18,245 1,074,082 2,495,091 HPFO 68 528 6,391 528 396 370 542 414 2,943 98 33 18,990 LPFO 116 31 3,549 213,141 893 9,409 4,049 1,075 10,113 2,607 1,889 10,187 138 195 34 332,943 Lubricating Oils 38 555 252 24,738 21 349 1,910 694 473 3,497 1,085 5,532 1,227 223 379 46 1,103 72,345 Greases 2 10 21 1,473 5 24 14 1 81 50 282 20 13 1 54 2,950 Pet. Jelly / Waxes 67,974 1 587 18,093 132,216 Bitumen & Asphalts 72,588 3,543 76,155 Base Oils 5,627 5,627 Additives Brake Fluids 53 168 1,918 3 3 2 1 1 82 25 4 2,899 Special Products 50 2 1 1 66 Chemicals 18,232 40 92 2 184 12 5,732 19 27,574 Total 25,619 105,386 115,627 1,994,930 12,223 102,857 272,648 122,683 83,908 319,252 190,548 471,063 110,180 36,280 55,409 14,863 112,135 4,285,970 12,900,108 40

Table 29 Petroleum Products Distribution By Marketing Companies - 1997 Products African Agip Elf Mobil ('000Litres) Nationa l Texaco Total Unipetro l Independen t Marketer's Liftings LPG. 6,220 3,589 247,798 5,020 1,480 6,342 5,723 276,172 Aviation Gasoline 2,172 172 3,657 9,494 25,327 40,822 Super Gasoline 600,498 271,681 169,720 423,583 440,416 423,879 628,962 407,869 2,544,678 5,911,286 Household Kerosine 173,927 88,339 65,939 103,010 107,332 97,102 135,875 101,487 667,210 1,540,220 Jet Fuel 3,199 2,495 57,152 34,934 30,101 22,514 38,745 189,140 Auto. Gas Oil 295,885 137,900 64,718 162,574 193,349 156,508 248,087 153,266 1,074,082 2,486,369 HPFO 18,990 11,437 30,427 LPFO 87,284 12,805 20,066 24,769 91,392 25,933 36,670 29,086 328,005 Lubricating Oils 8,757 6,067 630 12,735 23,450 5,312 11,593 8,434 76,978 Greases 41 398 411 188 504 1,107 605 3,255 Pet. Jelly / Waxes 128,305 3,002 909 132,216 Bitumen & Asphalts 3,855 10,427 19,044 42,829 76,155 Base Oils 3 5,624 5,627 Additives Brake Fluids 254 2,646 2,899 Special Products 66 66 Chemicals 177 13,861 13,436 100 27,574 Total 1,310,212 523,446 569,713 822,623 948,471 751,825 1,158,199 756,752 4,285,970 11,127,211 Total 41

Table 30 BUNKER SALES - 1997 ( 000mt) MONTH A G O LPFO TOTAL January 22.60 23.37 45.97 February 12.26 11.53 23.79 March 8.47 18.62 27.08 April 13.10 9.62 22.72 May 19.62 40.66 60.28 June 23.19 14.66 37.85 July 31.87 36.03 67.91 August 20.80 17.46 38.26 September 10.82 22.19 33.01 October 29.67 24.13 53.80 November 43.98 23.35 67.33 December 43.06 17.30 60.36 Total 279.45 258.92 538.36 42

Table 31 Petroleum Products Exports January - December 1997 (Metric Ton) MONTH P M S A T K A G O LPFO HPFO NAPH VGO SLOP TOTAL January 71,683.00 81,876.66 33,003.94 186,563.60 February 7,026.12 124,063.53 44,966.08 176,055.73 March 4,823.51 22,327.87 89,881.70 42,264.98 159,298.06 April 9,967.04 102,846.15 22,895.41 13,891.57 149,600.17 May 645.88 2,712.54 79,503.00 174,590.99 3,605.93 261,058.34 June 2,977.62 165,811.87 168,789.49 July 488.72 991.14 35,587.62 219,354.45 23,971.73 280,393.66 August 70,720.16 106,447.69 177,167.85 September 133,911.82 26,837.16 160,748.98 October 48,685.72 87,218.58 23,187.94 159,092.24 November 117,478.92 117,478.92 December 577.19 638.99 1,965.66 53,627.44 4,496.44 61,305.72 Total 1,223.07 1,127.71 20,459.89 643,529.29 1,183,425.22 146,736.34 47,159.67 13,891.57 2,057,552.76 Source: Generated by CPDD, NNPC June 2001 43